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ITEM[ # 6. <br /> • A,/ <br /> City ik <br /> -�-� <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Heidi Steinmetz, Assistant Director of Economic Development <br /> DATE: April 12, 2004 <br /> SUBJECT: Business Incubator Update <br /> Attachment <br /> • K-Netica Newsletter, March 2004 <br /> K-Netica <br /> • The attached newsletter is an update on K-Netica. <br /> K-Netica's lease with the EDA expires in August of this year. <br /> Lap2 Technology Corporation <br /> Rob Henningsgard of Lap2 was considering a merge with ScandTrace, a Swedish company, <br /> but due to infighting among ScandTrace's board of directors, Mr. Henningsgard has <br /> postponed negotiations. <br /> Lap2 has recently developed two different Web server based products, which will be <br /> launched at the Strictly Business Technology Expo in Minneapolis on June 9th. <br /> In addition, Mr. Henningsgard has hired his first computer programmer out of Anoka <br /> Ramsey Community College. A total of four computer programmer positions are available <br /> at Lap2. <br /> Lap2's lease with the EDA expires in September of this year. <br /> Incubator Space Update <br /> Building owner Larry Hickman has requested an amendment to the third lease renewal <br /> between him and the EDA. The EDA will no longer be leasing suite 140 and instead leasing <br /> suite 240. The amendment lowers the monthly lease rate by roughly$50. <br /> i <br /> S:\EDA\INCUBATOR\UPDATES\2004\4-12-04.doc .11'S <br />