City of Marshall Development Proposal to Action Manufacturing, Inc.

City of Marshall Development Proposal

to Action Manufacturing, Inc.

November 26, 2013

Evolution of Trackchairhttp://youtu.be/Cz9vutYMjuE

City Provided Ground Lease/Infrastructure

• Airpark East Development Area:o 1560 Madrid Circle

• 99 year ground lease for $1/yearo 5 Acres: Market Value of $125,000

• All public utilities completed (water, sanitary sewer, stormwater, electric, streetlighting).

• Special Assessments o Waive $325,000

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

Airpark East Development Area

Development Plan• Action Manufacturing Construction DetailsoApproximately 20,000 square foot

warehouse 18K SF: manufacturing, welding, fabrication,

assembly 2K SF: office space/restrooms

Site Plan

Floor Plan

Future Development

Recap of Obligations• City of Marshall Obligationso99 year lease for $1/year ($125,000)oWaive special assessments ($325,000)oMIF Loan ($240,000)oSite Grading

• Action Manufacturing Obligationso 20,000 square foot warehouseo Job Retention of 13 FTE’so Job Creation of 10 FTE’s o $13.00/hour with $2.00/hour benefits

Recommendation• Approve Contract for Private Development

Including Ground Lease and Business Subsidy Agreement for Action Manufacturing, Inc.