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Economic Development Committee <br /> February 26, 2008 <br /> Page 2 of 2 <br /> ----------------------------------------------- <br /> 3. Gorton Painting <br /> Elissa Rogers of BLADC made a presentation to the Economic Development <br /> Committee on behalf of Gorton Painting who specializes in large residential and <br /> commercial properties and have been in business for 25 years in Long Lake, MN. <br /> This company is proposing to purchase Lot 7, Block 4 in the Pequot Lakes <br /> Business Park for $43,900. This is a$12,026 reduction in the City's asking price <br /> of$54,300. The business owners feel the reduction is reasonable considering <br /> Schmidt Way has not been improved to the level of the other roads in the <br /> Business Park and there is no improvement plan in the near future. The offer price <br /> was based on assessment cost on the lot if the road improvements had been made <br /> which equaled $12, 026. The company plans to create 3 jobs immediately and <br /> have 6-10 employees within the next two years. The current hourly wage is at <br /> $11.00 to $23.00 per hour. <br /> The EDC discussed the offer. The EDC felt the request to reduce the price of the <br /> lot is reasonable due to the fact that the road is unfinished. <br /> PATRICK SMITH MOVED TO RECOMMEND TO THE COUNCIL THE <br /> APPROVAL OF THE OFFER BY GORTON PAINTING TO PURCHASE <br /> LOT 7, BLOCK 4 IN THE PEQUOT LAKES BUSINESS PARK FOR $42, <br /> `1 274. MARK JURCHEN SECONDED THE MOTION. MOTION CARRIED <br /> 5-0. <br /> 4. Other Business <br /> The EDC discussed the upcoming April meeting for discussion of a proposed <br /> business/industrial park expansion. The EDC discussed the issue of different <br /> types of businesses; some of which need infrastructure and some that do not need <br /> water and sewer. The EDC also discussed what role the City should be playing in <br /> the development of a business or industrial park. The EDC felt that the April <br /> meeting should be a brainstorming meeting. The EDC requested that the Chamber <br /> of Commerce be invited to this meeting. The EDC also requested that the Clerk <br /> and Mayor meet with BLADC to come up with an agenda and to provide some <br /> background material for the April meeting. <br /> 10. Adiournment <br /> The meeting was adjourned at 9:00 a.m. <br /> Respectfully submitted, <br /> andy Peine <br /> City Clerk <br />