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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> i <br /> TO: ECONOMICDEVELOPMENT AUTHORITY <br /> FROM: WILLIAM RUBIN, ED COORDINATOF\'p <br /> DATE: AUGUST 19, 1993 ' v <br /> SUBJECT: REVIEW PROPOSAL TO AN INDUSTRIAL PROSPECT <br /> INTRODUCTION <br /> On August 10, 1993, a presentation was made to McLean Midwest, <br /> a manufacturer of enclosed climate-control products. As a <br /> result of this presentation, McLean desires a more definitive <br /> estimate of the Elk River incentive package. <br /> BACKGROUND <br /> As Commissioners will recall, McLean seeks to construct a <br /> 100,000 to 120,000 square foot facility that is sited on a <br /> parcel containing 20 acres . McLean is a subsidiary of Zero <br /> Corporation, a publicly-traded company that reports fiscal year <br /> 1993 net sales in excess of $160,000,000 and a net income of <br /> • $11 .6 million. Additional information on Zero Corporation is <br /> attached to this memo. <br /> Three sites were recommended to McLean Midwest during the <br /> August 10 presentation. These sites included a parcel north of <br /> the City' s maintenance shop, bounded by Elk Lake Road and the <br /> abandoned railroad trail; another twenty acre parcel <br /> immediately west of the fairgrounds; and a final parcel <br /> immediately north of the Sandpiper Estates subdivision and ; east <br /> of the County Government Center. The Elk Lake Road parcel has <br /> utilities within close proximity; the other two parcels require <br /> utility extensions. <br /> Staff has since learned that McLean is leaning towards the <br /> parcel adjacent to the fairgrounds . Staff has attempted to <br /> estimate the eligible items and related costs associated with <br /> this site. This is found in a draft of a letter Mayor Duitsman <br /> would sign, assuming Council affirmation. These numbers should <br /> hopefully help McLean as it sorts out the various incentive <br /> packages from the other communities . <br /> ACTION REQUESTED <br /> Following a discussion on McLean and the Elk River incentives, <br /> the EDA is asked to forward a recommendation to the City <br /> • <br /> Council regarding the specifics of the proposal pursuant to <br /> Mayor Duitsman's letter. <br /> P.O.Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />