7.0. EDSR 07-08-1996 / —\.
ITEM 7
c
it .‘ -
* y of MEMORANDUM
lk
River TO: Economic Development Authority
FROM: Lori Johnson e4).Assistant City Administrator
DATE: July 8, 1996
SUBJECT: TL Feeding Update
Attached is a letter from Pat Pelstring regarding TL Feeding and the
company's expansion plans. TL Feeding has decided to lease space in Osseo
for the short term and will not be locating in Elk River at this time. A Tax
Increment Financing Plan for TL Feeding was approved previously in
anticipation of this project. At an upcoming EDA meeting, a resolution
decertifying the district will be presented for the EDA's approval.
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Action Requested:
No action is requested on this item at this time.
s:\eda\tlfeedmm.doc
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13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425
PUBLIC RESOURCE
i
GROUP INC.
Business Development&Finance Specialists
June 20, 1996
Mr. Patrick Klaers
City of Elk River
13065 Orono Parkway ,. '-
P.O. Box 490.
Elk River, MN 55330
Re: TL Feeding
Dear Mr Klaers
I have been advised, early this week, that.TL Feeding has determined not to proceed -
with their development project:
The company is under,a relatively short time frame'with:its current landlord to move
the':TL`Feeding operation: The company has reached an agreement on a three year
lease on space in Osseo ::and this will eliminate the need to move forward on the
project.
I have appreciated your cooperation, support, and working with us on this project.
Please contact me if you have additional questions or comments. ,
Sincerely,
• PUBLIC RESOURCE GROUP, INC. ,
lil.tlJ . f i
Patrick W. Pelstring
Chief Executive Officer :,
PWP\dp
cc: Fred Nungesser, TL Feeding
Al Larson, TL Feeding
4205 Lancaster Lane North* Suite 1100 ♦'Minneapolis,Minnesota 55441 • (612)550-7979 '• (612)550-9221 Fax