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AGENDA ITEM # 12.4. <br /> REPORT TO <br /> CITY COUNCIL <br /> Date: September 7, 2004 <br /> Subject: Update on Industrial Park Lot <br /> Report: Just an update to let the Council know that the <br /> City closed on the industrial park Lot 4, Block 3. The City <br /> received $48,600 for the lot. This money will be used to <br /> make the first bond payment on the industrial park <br /> improvement. <br /> The lot was purchased by Ron Bouma. The newly <br /> constructed building will be the base operations of a <br /> company called "Due North Construction." The building <br /> will be used as a spec building and put on the market <br /> immediately. <br /> Council Action Requested: None required. <br />