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Consider New Incubator Tenant:: Lap2 Technology Corporation <br /> September 8,2003 <br /> Page 2 of 2 <br /> • and assembly,marketing, sales,and order fulfillment. Mr. Henningsgard is willing to enter <br /> the Incubator as soon as September 15th• <br /> Mr. Henningsgard will be in attendance to provide additional background information on <br /> the company and answer any questions the EDA might have. <br /> Action Requested <br /> Staff recommends that the EDA consider the Advisory Committee's recommendation and <br /> accept Lap2 Technology Corporation as a tenant in the Business Incubator Program. With <br /> the EDA's direction, staff will work with the company and City Attorney to prepare the <br /> necessary sublease and stock documents. Staff has had preliminary negotiation with the <br /> company for a rent rate of$3.00/SF cash rent and$7.00/SF stock value in exchange for <br /> rent. <br /> • <br /> i <br />