city of marshall development proposal to action manufacturing, inc. november 26, 2013
TRANSCRIPT
City of Marshall Development Proposal
to Action Manufacturing, Inc.
November 26, 2013
Evolution of Trackchair
http://youtu.be/Cz9vutYMjuE
City Provided Ground Lease/Infrastructure
• Airpark East Development Area:o 1560 Madrid Circle
• 99 year ground lease for $1/yearo 5 Acres: Market Value of $125,000
• All public utilities completed (water, sanitary sewer, stormwater, electric, streetlighting).
• Special Assessments o Waive $325,000
Minnesota Investment Fund Loan• $240,000 Loan:o 2% Interest for 7 yearso Job Retention of 13 FTE’so Job Creation of 10 FTE’so$13.00/hour with $2.00/hour benefits
Airpark East Development Area
Development Plan• Action Manufacturing Construction DetailsoApproximately 20,000 square foot
warehouse 18K SF: manufacturing, welding, fabrication,
assembly 2K SF: office space/restrooms
Site Plan
Floor Plan
Future Development
Recap of Obligations• City of Marshall Obligationso99 year lease for $1/year ($125,000)oWaive special assessments ($325,000)oMIF Loan ($240,000)oSite Grading
• Action Manufacturing Obligationso 20,000 square foot warehouseo Job Retention of 13 FTE’so Job Creation of 10 FTE’s o $13.00/hour with $2.00/hour benefits
Recommendation• Approve Contract for Private Development
Including Ground Lease and Business Subsidy Agreement for Action Manufacturing, Inc.