10.01 Pequot Lakes Business Park Prospect

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Presentation to PL EDC on July 16,2019 on behalf of Joe Dotty 7-9-19 Project Information: Joe Dotty of Dotty Holdings is interested in exploring the acquisition of Lot 13, which is 1.85 acres, in Pequot Lakes'original Business Park. Joe is proposing to build 18,000-22,000 SF, of inetal construction, in one or two buildings-to be determined based on-site layout and snow storage considerations. Joe currently estimates the value of the building to be in excess of$1,000,000. Joe is planning the construction of this building/s to meet the needs of a tenant who will occupy 10,000 SF initially. Joe desires to have excess space for other tenants, and/or to accommodate the growth of his anchor tenant. Background Information: Joe and Sue Dotty live between Pequot Lakes, Minnesota and Mesa, Arizona. Dotty Holdings currently owns Lots 16 and 20 and owns 6 buildings on these lots that are leased to 6 individual companies that employ approximately 40 people. Joe is currently planning one to two additional buildings at this site which will then be built to capacity. Mr. Dotty's son, John, owns Dotty Brothers Construction. Timeline: The project timeline is proposed as follows: July 16, 2019—PL EDC review Joe's preliminary vision, and consider providing Mr. Joe Dotty time to fine- tune his project, and present in person to the PL Economic Development Commission on September 17, 2019 at 8am for consideration. Joe desires to have the opportunity to present his project to the PL EDC and PL City Council,for consideration in advance of any other prospects; therefore, Mr. Dotty is requesting the City provide him with time to continue planning his project and present it in person. Purchase Price: Dotty Holdings proposes to offer$55,500 which is full price. Sheila Haverkamp, Executive Director {"��. Brainerd Lakes Area Economic Development Corporation