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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

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City of Marshall Development Proposal to Action Manufacturing, Inc.

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  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.

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