5. EDSR 07-15-2013 - Laserfiche WebLink

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Preferred Powder Coating is a metal powder coating company that prides itself in environmental preservation and conservation, ensuring their work is done in an environmentally sensitive manner through a process known as EEP, or"Enhanced Performance Pretreatment" which was developed to meet the new phosphate restrictions, reduce water usage, lower chemical consumption and eliminate the natural gas needed to heat the stage. Preferred Powder Coating works with all types of ferrous and non-ferrous substrates including steel, aluminum, stainless, cast iron and zinc die castings. Preferred Powder works with a variety of industries that require premium powder services including, but not limited to: aeronautics, athletic equipment, automotive, die casting, medical equipment, OEM, recreational, retail and sheet metal. Please give a brief summary of the project: Currently located in Rogers, MN in a 73,000 state of the art facility, Preferred Powder is looking to expand their operations and relocate to the City of Elk River. Elk River Economic Development Authority President Dan Tveite and Elk River economic development staff toured the facility with President Lloyd Peterson and Vice President of Operations Dan Bosshart to learn more about the company in late 2012. Preferred Powder currently employs 24 employees, and plans on creating 8- 10 jobs within the next two years. They plan on constructing a 100,000 square foot facility which will not only increase Elk River's tax base; it will also generate excitement and momentum for the newly finished Nature's Edge Business Center, being as they will be the first to build in the park. Because of their operations, a rectangular shaped building is required to meet the needs of their equipment lay-out and maximize efficiency. This 10.36 acre site poses challenges not only with the wetlands, but the Northern Natural Gas line (approximately one acre) which runs North/South through the middle of the property. The existing encroachment agreement between the city of Elk River and Northern Natural Gas prohibits anything from being built over this gas main. Because of where the gas line is located, it leaves approximately six buildable acres to the west of the line, making it challenging to build an adequate building without impacting the existing wetlands. Preferred Powder has received approval from the TEP Committee for wetland mitigation. They have taken all steps required to build a 100,000 square foot facility on an extremely challenging lot. The four acres to the east of the gas main will not be built on, but is necessary to be utilized during site preparation. Please describe how this loan will impact your project: This loan will help offset the total costs of wetland delineation and site preparation necessary to appease the TEP requirements and to accommodate Page 1 1 oE', NATURE