EDSR INFORMATION #1 05-08-2000 ftof1$ iver
April 26, 2000
Mr. Larry Hickman
12888 187th Circle NW
Elk River, Minnesota 55330
Subject: Business Incubator Lease — Second Renewal Term
Dear Mr. Hickman:
At a special meeting on April 24, 2000, 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 is
scheduled to end on April 14, 2001. The action as taken by the EDA extends
• this lease from April 15, 2001, to April 14, 2003, at the second renewal term
lease rate of$1.85 per square foot for 13,186 square feet of space.
The EDA will again consider renewing the lease of the business incubator in
January of 2002 for a third term that will run from April 15, 2003 to April 14,
2005.
On behalf of the Economic Development Authority, I would like to convey my
appreciation for your partnership and cooperation in the incubator program.
Although the program's success to date has been limited, it has generated a
fair amount of publicity for the City and contributed to its reputation as a
pro-business community. Hopefully the program will experience further
success in the near future.
Sincerely
Ma c D. Nevinski
Acting Director of Economic Development
•
13065 Orono Parkway • P.O.Box 490 • Elk River,MN 55330 • TDD &Phone: (612)441-7420 • Fax: (612)441-7425