Laserfiche WebLink
i <br /> EXHIBIT K <br /> City of Elk River <br /> Business Incubator Program Concept <br /> • 10,000 sqft (part of total 60,000 sqft building with Cymbet) <br /> • Constructed&owned by Equity Management, Inc. (Linda Norha,President) <br /> • TRF Subsidy agreement includes contingency of issuance of Final Certificate of Occupancy from the <br /> Building Department and Certificate of Completion from the Planning Department for the <br /> completion and reservation of 10,000 sqft for incubator program for minimum of 5-years,with <br /> option to extend another 5-years at negotiated rate. <br /> • Ownership: Equity Management <br /> Landlord/Maintenance: Rivers Crossing, Gary Santwire <br /> • Incubator Tenant Gross Rent: $5.00/sf annual rate <br /> • No leasing commitments by the EDA. <br /> • Genesis Business Centers to continue to provide technical assistance to tenants,recruit and complete <br /> due diligence on incubator prospects for consideration by the Incubator Advisory Committee and <br /> EDA. <br /> • Initial Leasehold Improvements: based upon EDA approved building layout and finish <br /> specifications (ie. shared conference room,restrooms as required by building code, dividing walls) <br /> EDA to pay amount not to exceed$95,000 upfront with MN Investment Fund dollars from Tescom <br /> loan <br /> • Any leasehold improvements beyond EDA's initial contribution will be at tenant cost. <br /> • <br /> Cymbet Corporation/Equity Management,Inc. <br /> City of Elk River Expansion Siting Proposal Page 17 August 2002 <br />