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VI-6 <br /> Memo <br /> To: Mayor Werner and City Council <br /> From: Matthew Weiland,Planning Director <br /> Subject: Forpack,Inc.(Development/Business Subsidy Agreement for sale of Industrial <br /> Park Property. <br /> Date: - August 29,2001 <br /> CC: Loyd Lodewagon,Forpack <br /> Loyd Lodewagon of Forpack,Inc,has offered to purchase 1.00 acres of land land in the Industrial <br /> Park. The lot is legally described as Lot 2, Block 2, Hastings Industrial Park No. 6. The City <br /> Council recommended preliminary approval for the land sale and land credit program and their <br /> 8/6/01 City Council Meeting. The development/business subsidy agreements have now been <br /> prepared and are ready for final action. A Site Location map and these agreements are included with <br /> this memo. <br /> Background Information <br /> The applicant is proposing to construct an 8,000 sq ft building and will add at least two new jobs <br /> ($14.00/hour) over the next five years. He is estimating that he will add at least 4 new jobs in the <br /> next 5 years.The building will include offices,manufacturing space and rental space.This use would <br /> be allowed in the industrial park. The proposed site plan and building plans meet the design <br /> guidelines for the industrial park. This project would require the following items to be completed <br /> before the final land sale could be closed: <br /> 1. Site Plan Approval (pending- 9/4/01 City Council meeting) <br /> 2. Development/Purchase Agreement (pending- 9/4/01 City Council meeting) <br /> 3. Subsidy Agreement (pending- 9/4/01 City Council meeting) <br /> 4. Building Plans (submitted to building department 8/01 -pending approval <br /> Business Subsidy: <br /> Land Value: $43,560.00 <br /> Land Subsidy: $43,559.00 to finalized after 5 years <br />