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Economic Development Agenda Memo <br /> April 8, 1999 <br /> Page 4 <br /> III • Letter formally releasing the EDA from any further <br /> obligation to sell the West Business Park property as <br /> indicated in our Offer to Sell Property. <br /> It is unclear at this time whether the postal service is considering the <br /> Mulvaney property for a complete Carrier Annex facility, including <br /> retail, or whether there is still discussion of keeping a retail presence <br /> in the Central Business District. Staff has been discussing a number <br /> of opportunities for sites nearby their current location which may <br /> possibly work for both the Carrier Annex and retail portions of their <br /> operation. They have eliminated these sites due to size, location, soil <br /> issues, and environmental concerns. Staff suggests that the EDA <br /> reaffirm its position with the postal service regarding its desire to see a <br /> retail facility maintained in its current location or another location <br /> within the Central Business District. <br /> 7. Mark Rothfork Micro Loan Request <br /> Issue <br /> Mark Rothfork, Ultra Image Powder Coating, has requested a micro <br /> • loan in the amount $65,000 to complete the construction of an <br /> approximately 13,000 square foot building in the McChesney <br /> Industrial Park. Terms requested on this loan include 5 percent <br /> interest over a 20 year period with a 5 year balloon. <br /> Background <br /> Ultra Image Powder Coating is currently located in the McChesney <br /> Industrial Park in a building owned by Mark Rothfork. The building <br /> is shared by several other industrial users. Ultra Image desires to <br /> expand in its existing building, but is unable to do so without <br /> relocating one or two of the other current tenants. Out of this issue <br /> arose Mark Rothfork's desire to construct a new building to which his <br /> existing tenant(s) would then move. This would allow Ultra Image to <br /> expand in its current location. <br /> This 13,000 square foot building would house several industrial <br /> tenants creating an estimated number of new jobs in the amount of 6. <br /> The expansion of Ultra Image Powder Coating would potentially <br /> increase that business's job growth by 3 new employees. <br /> • <br />