1 / 11

City of Marshall Development Proposal to Action Manufacturing, Inc.

City of Marshall Development Proposal to Action Manufacturing, Inc. November 26 , 2013. Evolution of Trackchair. http://youtu.be/Cz9vutYMjuE. City Provided Ground Lease/ Infrastructure. Airpark East Development Area: 1560 Madrid Circle 99 year ground lease for $1/year

kiet
Download Presentation

City of Marshall Development Proposal to Action Manufacturing, Inc.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. City of Marshall Development Proposalto Action Manufacturing, Inc. November26, 2013

  2. Evolution of Trackchair http://youtu.be/Cz9vutYMjuE

  3. City Provided Ground Lease/Infrastructure • Airpark East Development Area: • 1560 Madrid Circle • 99 year ground lease for $1/year • 5 Acres: Market Value of $125,000 • All public utilities completed (water, sanitary sewer, stormwater, electric, streetlighting). • Special Assessments • Waive $325,000

  4. Minnesota Investment Fund Loan • $240,000 Loan: • 2% Interest for 7 years • Job Retention of 13 FTE’s • Job Creation of 10 FTE’s • $13.00/hour with $2.00/hour benefits

  5. Airpark East Development Area

  6. Development Plan • Action Manufacturing Construction Details • Approximately 20,000 square foot warehouse • 18K SF: manufacturing, welding, fabrication, assembly • 2K SF: office space/restrooms

  7. Site Plan

  8. Floor Plan

  9. Future Development

  10. Recap of Obligations • City of Marshall Obligations • 99 year lease for $1/year ($125,000) • Waive special assessments ($325,000) • MIF Loan ($240,000) • Site Grading • Action Manufacturing Obligations • 20,000 square foot warehouse • Job Retention of 13 FTE’s • Job Creation of 10 FTE’s • $13.00/hour with $2.00/hour benefits

  11. Recommendation • Approve Contract for Private Development Including Ground Lease and Business Subsidy Agreement for Action Manufacturing, Inc.

More Related