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EDA 2 <br /> Business Incubator Program <br /> Sept.9, 1996 <br /> • • What are the two buildings being pursued for this project at <br /> this time? <br /> 1. City staff, Harlan Jacobs, and Pat Dwyer attended a meeting of <br /> the County Board of Commissioners on Tuesday, September 3, <br /> 1996. The purpose of the meeting was to introduce the topic of <br /> utilizing the former administration building as a business <br /> incubator facility. The meeting was primarily to introduce the <br /> commissioners to the concept of a business incubator and to <br /> open the lines of communication between the city and county <br /> regarding this project. <br /> The concept proposal presented to the county was that the city <br /> EDA would lease the former administration building for an <br /> amount that would cover the operating costs of the facility. <br /> Issues involved in this proposal were discussed with the county: <br /> • Upon full lease-up, this building would create 15-25 jobs <br /> • Provides an opportunity for a new county/city partnership <br /> in economic development <br /> • The building becomes a taxable property <br /> • City staff will be working with county staff to schedule a tour of <br /> the Columbia Heights incubator with the County Board of <br /> Commissioners. A few of the County Commissioners indicated <br /> a verbal interest in going on this tour and seeing an actual <br /> business incubator in process. <br /> 2. City staff is also working with a private property owner to <br /> pursue his interest in leasing 10,000 to 15,000 square feet of <br /> space to the EDA for use as a business incubator facility. <br /> Harlan Jacobs and city staff have had discussions with the <br /> private property owner and he has appeared to indicate an <br /> interest. Staff has set up a tour of the Columbia Heights <br /> facility with this private property owner, and will continue to <br /> discuss this project with him. <br /> • What are the technical aspects of the business incubator <br /> program? <br /> The primary emphasis of the business incubator program is to find <br /> inexpensive space for the EDA to lease for a minimum period of two <br /> years. The emphasis then would be to work with Harlan Jacobs to fill <br /> that space with start-up companies at a rental rate that would cover <br /> 41 the EDA's lease rate. In the event the rental rate was not enough to <br />