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May 13, 1998
Mr. Larry Hickman
12888 187th Circle NW
Elk River, Minnesota 55330
Dear Mr. Hickman:
Subject: Business Incubator Lease
At its meeting on April 13, 1998, the Economic Development Authority
unanimously approved an extension of its lease in the former Furniture and
Things building for a period of two years. The term of the current lease was
scheduled to end on April 14, 1999. The action as taken by the Economic
• Development Authority extends this lease from April 15, 1999, to April 14,
2001, at a renewal term lease rate of$1.65 per square foot for 13,186 square
feet of space.
I would also like take this opportunity to pass along several favorable
comments which were mentioned by EDA members regarding your
participation in this business incubator project. It is evident that this project
would not have become a reality without your partnership and cooperation.
Please be advised also that we are planning a business incubator open house
on Thursday, June 11, 1998, from approximately 4-6 p.m. Please notify me if
you will be unable to attend the open house.
Sincerely,
Paul T. Steinman
Director of Economic Development
PTS:akh
c: Pat Klaers, City Administrator
III
Hank Duitsman, EDA President
13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD &Phone: (612)441-7420 • Fax: (612) 441-7425