EDSR MEMORANDUM 06-12-1995 - Laserfiche WebLink

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8. Alternatives to Training Network's Proposal to the City Council 410 Since the May EDA meeting, a City Council motion to accept a revised proposal from Training Networks, Inc., has failed twice. These actions occurred at the May 8 and May 22 City Council meetings. Hopefully, EDA Commissioners will have suggestions or alternatives so that the various needs identified by Sandy Bower and Lee Colby can be addressed. 9. Sale of Industrial Park Site City staff has been advised that the Board of Education has authorized the purchase of Lot 8, Block 1, Elk River Industrial Park in the amount of$45,000. In accordance with action taken at the May 8 public hearing on this matter, no additional action is required by the EDA in order to close on this transaction. It is further understood that the City Attorney is preparing the necessary documents for closing; However, prior to closing, all municipal approvals (i.e., site plan review, conditional use permit- if any, etc.) should be completed. To further ensure that minimum thresholds are achieved (i.e., size of building, type of construction,minimum investment, completion date, etc.)perhaps a "mini" development agreement by and between the Elk Ask River EDA and Independent School District No. 728 is necessitated. IIP On an unrelated matter, EDA Commissioners will recall that its obligation in the disposition of publicly owned sites in the Elk River Industrial Park was to generate $210,000 in sales. Found below is a summary of sales involving EDA sites and their respective values: COMPANY VALUE Timron Precision Gear $ 50,000 (collected from property tax payments beginning in 1995) Tescom Corporation $100,000 (collected from property tax (Phase I) payments beginning in 1995) Tescom Corporation $ 57,000 (collected from property tax (Phase II) payments beginning in 1996) District 728 $ 45,000 (cash or equivalent) $252,000 10. TIF Plan Public Hearing This agenda item is outlined in greater detail in a separate memo.