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s/j <br /> it fkk <br /> River <br /> 13065 Orono Parkway <br /> Elk River,MN 55330 <br /> December 29, 2003 <br /> SoftPac Industries, Inc. <br /> Bill McMullen,President&CEO <br /> 13512 Business Center Drive <br /> Elk River,MN 55330 <br /> Dear Mr.McMullen: <br /> This letter is to inform you that SoftPac Industries, Inc. has successfully completed the job creation <br /> and wage goals as required within the Development Assistance Agreement by and among the City of <br /> Elk River, Opus Northwest, L.L.C, and SoftPac Industries, Inc. dated August 28, 2000. <br /> The Development Assistance Agreement specified the following Job Goals in Section 3.5. (Business <br /> • Subsidy Agreement) subdivision (h): <br /> "... SoftPac covenants that it will provide at the Project 60 full-time equivalent permanent <br /> employee positions within two years of the Benefit Date (November 20, 2003),with these <br /> jobs having wage levels of at least $10.00 per hour, exclusive of benefits." <br /> Sean Lawler has recently reported to me that SoftPac Industries, Inc. has created a total of 61 full- <br /> time jobs and 7 part-time jobs as of November 20, 2003. Attached is a copy of the most recent MN <br /> Business Assistance Form,which will be submitted to the MN Department of Employment& <br /> Economic Development (formerly DTED). <br /> The City of Elk River is pleased that SoftPac Industries, Inc. has held true to the job creation and <br /> tax base goals that were established with its location to Elk River. Please feel free to contact me to <br /> discuss any issues related to SoftPac's continued growth and success in Elk River. <br /> Sincerel , <br /> ...41,"& <br /> Catherine Mehelich <br /> Director of Economic Development <br /> CC: Sean Lawler, SoftPac Industries, Inc. <br /> Elk River Mayor&City Council <br /> vEttc River Economic Development Authority <br /> • <br /> Phone:763.63 5.1000 <br /> Fax:763.635.1090 <br /> www.o.elk-river.mn.us <br />