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• • In 2001, the EDA provided SolarAttic with a 12-month sublease extension, in <br /> which SolarAttic agreed to pay cash rent from April 15, 2001 to April 14, 2002. <br /> Staff Recommendation <br /> Staff recommends that the EDA consider the following points before granting <br /> SolarAttic a sublease extention: <br /> • SolarAttic owes the EDA $6,766.56 in overdue rent to cover the past 12 months. <br /> • SolarAttic has occupied Incubator space for five years. As stated in the Elk River <br /> Business Incubator Member Company Selection Guidelines: <br /> The primary purpose of the Business Incubator is to provide inexpensive space and <br /> support for higher technology, (start-up and existing)small companies whose success <br /> would add significantly to the growth and diversification of the City of Elk River's <br /> economic base. <br /> The Elk River Economic Development Authority(EDA)will, as its primary <br /> objective, select companies which appear to have the necessary fundamentals <br /> established to assure their future growth and success. <br /> • Staff does not feel that SolarAttic has significantly added to the growth of the <br /> City's economic base. At this time, SolarAttic does not seem to have the <br /> necessary fundamentals established to assure their future growth and success. <br /> • Bixby Energy Systems, Inc. became an Incubator tenant in January of 2002. Due <br /> to company growth, Bixby has recently contacted staff to inquire about the <br /> availability of the Incubator space that SolarAttic currently occupies. Bixby is <br /> specifically interested in this space since Bixby's current space is located directly <br /> across the hall from SolarAttic's current space. <br /> • <br />