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BRAINERD <br /> L A KJV S <br /> A R E A <br /> DEVELOPMENT <br /> CORPORATION <br /> Memorandum <br /> To: City of Pequot Lakes Representatives <br /> From: Elissa Rogers,Brainerd Lakes Area Development Corporation <br /> Re: Business Park Lot Purchase and TIF Request for Lonesome Cottage <br /> Date: June 21,2007 <br /> Enclosed you will find a proposal for property purchase and tax increment financing(TIF)from <br /> Lonesome Cottage for a new manufacturing structure to be built in the Pequot Lakes Business <br /> Park. This letter is provided to briefly summarize the project information for you. <br /> Company History <br /> Lonesome Cottage Furniture Company was founded in 1998.Brandon Andersen purchased the <br /> business in November of 2003.At that time,Lonesome Cottage had 20 employees and 99%of <br /> the company's sales were from the local market.Today, Lonesome Cottage employs 53 lakes <br /> area residents and the company's sales have tripled, due to the growth of out of state sales. <br /> Currently approximately 85% of Lonesome Cottage's sales are national. Lonesome Cottage <br /> offers a full line of rustic furnishings and specializes in custom log railings,mantels, and log <br /> materials for contractors and home owners. <br /> Project Summary <br /> Lonesome Cottage plans to build a new 24,000 square foot, 80'X 300',manufacturing facility in <br /> the Pequot Lakes Business Park and sell their existing highway 371 manufacturing location.The <br /> company will also need sufficient acreage to store the materials used in manufacturing.To <br /> make this project feasible, Lonesome Cottage is requesting the purchase of 4 lots in the Business <br /> `.. Park and tax increment financing. <br /> 124 North Sixth Street <br /> Brainerd, MN 56401 <br /> 218-828-0096 <br />