Laserfiche WebLink
BRAINER D <br /> LAIC <br /> AREA <br /> DEVELOPMENT <br /> ENT <br /> CORPORATION <br /> Memorandum <br /> To: Pequot Lakes City Representatives <br /> From: Elissa Rogers,Brainerd Lakes Area Development Corporation <br /> Re: Business Park Lot Purchase Request for Gorton Painting <br /> Date: February 22,2008 <br /> Company and Project Information <br /> Gorton Painting is currently located in Long Lake,MN.They specialize in large residential and <br /> commercial properties and have been in business for 25 years.Jay Gorton lives in the Brainerd <br /> Lakes Area and plans to move the office and shop operations into the Pequot Lakes Business <br /> Park. <br /> Gorton Painting is proposing to purchase Lot 7 of Block 4 in the Pequot Lakes Business Park for <br /> $42,274 or approximately$23,355/acre.(See the Pequot Lakes Business Park map attached.)This <br /> Business Park lot has been marketed at$30,000/acre or$54,300. <br /> Jay feels the price reduction request is reasonable considering Schmidt Way has not been <br /> improved to the level of the other roads in the Business Park and there is no improvement plan <br /> in the near future.Gorton Painting's offer price was determined after receiving,from the City of <br /> Pequot Lakes,the assessment cost on this lot if the road improvements were to be made which <br /> equaled$12,026.($54,300-$12,026=$42,274)If road improvements are made in the future, <br /> Gorton Painting would be assessed. <br /> The purchase of the Business Park lot and the new facility will allow Gorton Painting to relocate <br /> their business from leased space in Long Lake,MN.This move will allow for Jay to bring his <br /> business closer to home and to add employees,more room for the shop area,and expand their <br /> business into the Lakes Area. <br />