3.6. SR 07-18-2005 - Laserfiche WebLink

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ITEM I 7. MEMORANDUM TO: Economic Development Authority FROM: Catherine Mehelich, Director of Economic DevelopmentM DATE: July II, 2005 SUBJECT: Consider Tax Rebate Financing Assistance and Sale of EDA Property for Crystal Distribution, Inc. Attachments . Northsw: Business Park Preliminary Plat . Purchase Agreement Form Issue Staff has been working with Crystal Distribution, Inc. for the past several months to identify a site and financing assistance to relocate and expand the company's operations to Elk River. The EDA is asked to review and consider the following actions: . Recommend the Council call a public hearing on the proposed Tax Rebate Financing assistance request and business subsidy to the company . Call a public hearing on the proposed sale of 3.7 -acres of EDA property to the company Proiect Description Established in 1994, Crystal Distribution, Inc. (CDI) primarily fabricates sheet metal into custom curb adapters which are used to replace existing roof top equipment with the new roof top equipment. The roof top units are sold to heating, ventila.tion and air conditioning (HV AC) distributors across the nation and into Canada. The company is owned and managed by Pat O'Brien and his wife, Bobbie J o. The company currendy employs 31 full- time staff with an average hourly wage of $21.46. Within two years of the expansion the company proposes to create 15 new jobs with a minimum hourly wage of $15.00. The company currendy leases 22,000sf in Maple Grove and is seeking a suitable location within the northwest metro area to relocate and expand in time for the lease expiration. CDI proposes to construct a 30,000 square foot light industrial building in which the company would occupy 100% of the space. The 3.7 -acre lot also accommodates and additional 12,000sf for CDT's desired future expansion.