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Appendix A <br />Project Description <br />The proposed development consists of the acquisition of the approximately 200,000 SF Slumberland <br />distribution facility located in the City at the corner of 35E and 694 on two parcels of land. The District is <br />being created to facilitate an expansion of the company’s food processing and distribution capabilities to <br />accommodate growth and meet customer demand. The overall project will create approximately 160 net new <br />positions and will require a $25M investment to acquire the existing facility, up-fit the building to food-grade <br />standards and furniture, fixtures, equipment and IT. The proposed improvements include approximately <br />60,000 SF of refrigerated, cooler and freezer space; 91,000 SF of storage, dock and maintenance; 26,000 SF <br />of processing; and 20,000 SF of office space. <br />TIF assistance will likely include utility infrastructure. The initial project will be funded by a pay-as-you-go <br />note and an interfund loan for preliminary expenses prior to receipt of tax increment. <br />Appendix A-1