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ITEM 8. <br />MEMORANDUM <br />TO: Economic Development Authority <br />FROM: Annie Deckert, Director of Economic Development <br />DATE: December 12, 2011 <br />SUBJECT: Crystal Distributions Inc. update <br />At their October 10`h EDA meeting, the EDA discussed proposed expansion fox Crystal <br />Distribution Inc. (CDI), located in Northstar Business Paxk. CDI expressed their desire fox <br />a potential lot split because their expansion did not require the entire parcel. Splitting the lot <br />would leave the northern portion of the lot inaccessible. In addition, sewer and water <br />service would need to be made available to the remainder of the parcel. <br />At their October EDA meeting, the EDA directed staff to work together to come up with a <br />proposed site plan acceptable by both CDI and the city. In addition, the EDA directed staff <br />to obtain appraisals on the property in its entirety, and the two separate parcels should the <br />lot be split. This is to determine the market value and the marketability of the northern <br />portion of the parcel should the lot be split. <br />Staff has been working with CDI on their site plan and believes to have devised an <br />acceptable plan by both parties. Staff obtained quotes and is working with the appraiser to <br />complete the appraisals. These appraisals take roughly 3-4 weeks to complete. <br />CDI is a highly valued quality employer and growing manufacturer in the City of Elk River. <br />It is in the City's best interest to retain CDI and assist in their growth and success in Elk <br />River. <br />CDI Staff is anticipating bringing this information back to the F.DA at its January meeting. <br />