02-12-1996 EDA MIN - Laserfiche WebLink

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Economic Development Authority February 12, 1996 Page 2 -------------...------------.---- e will include the construction of approximately 12,900 square feet. Bill Rubin explained that Section 3 of the EDA's contract for Private Development requires that District 728 obtain a Certificate of Occupancy on or before March 1, 1996, and it is required to provide a minimum investment of $750,000. He indicated that the Agreement should be amended because of the revised plans by District 728. COMMISSIONER DUITSMAN MOVED TO AUTHORIZE THE PREPARATION OF A FIRST AMENDMENT TO THE CONTRACT FOR PRIVATE DEVELOPMENT WITH INDEPENDENT SCHOOL DISTRICT NO. 728 TO REFLECT THE FIRST PHASE OF CONSTRUCTION CONTAINING 12,900 SQUARE FEET WITH AN INVESTMENT OF $900,000. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 8. Update on Uocomina Marketech, Inc. Exoansion Rich Duggan, president of Marketech, Inc., 16864 Highway 10, addressed the EDA regarding his proposal to expand his existing business by constructing a new 8,000 square foot facility. Mr. Duggan explained that Marketech currently occupies 4,350 square feet and employees 24 people. He stated that the expansion will create a need to employ 5 more people during the next year. Mr. Duggan indicated that he is in the process of looking for land on which to build and further indicated that he will be requesting tax increment financing. He stated that it his first desire to build in the Elk River Industrial Park. e 9. Consider Conceot of Public/Private Business Incubator Executive Director Bill Rubin explained the concept of a business incubator. He indicated that an incubator is intended to provide low-cost space for newly- formed or emerging companies. Bill Rubin indicated that in mid-January, he had the opportunity to attend an open house and tour of a successful business incubator in Columbia Heights. A video presentation was presented to the Commissioners to reinforce the concept of the Anoka County business incubator and its respective players. Commission Holmgren arrived at this time (6:30 p.m.) . Commissioner Duitsman indicated his interest in this concept. He stated that it would be beneficial to request a presentation to the EDA and Sherburne County Board of Commissioners by the Anoka County Economic Development Partnership on business incubators. 11 . Other Business 11.1. Sustainable City Showcase e Commissioner Duitsman indicated that as Mayor he has received a request for the City to consider becoming a Sustainable City Showcase. Bill Rubin indicated that a Sustainable City Showcase is a project of Minnesota Environmental Initiative's Energy Alley Task Force. It would be the demonstration site of energy efficiency and renewable energy