10-10-2007 Council Agenda - Laserfiche WebLink

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APPENDIX A PROJECT DESCRIPTION The TIF district will be created to facilitate the development of approximately 9.995 net acres located off Rice Street and County Road B2 by St. Jude Medical and to facilitate the construction of various public improvements located at the comer of Highway 36 and Rice Street. St. Jude Medical is a $3 billion international medical device company with global headquarters in Little Canada, Minnesota. The company develops and manufactures medical devices to treat cardiac, neurological and chronic pain patients. St. Jude Medical employs approximately 12,000 people worldwide. St. Jude Medical is proposing to construct a 182,000 square foot facility as the first phase of the project. It is anticipated that the first phase of this project would begin construction in the fall of 2007 with occupancy expected in 2009. Future phases could bring the total expansion square footage to 350,000. This proposed project (first phase) will result in approximately 450 jobs, including existing and new employees consisting primarily of salaried professional positions. This employee base and increased tax revenue, are expected to have a positive impact to the city. The activities related to the project that will require involvement by the City of Little Canada are on -site soils and grading work, extending of utilities, including water, sewer and storm water, boulevard improvements along County Road B2, the addition of a turn lane at the intersection of Rice Street and County Road B2, and improved traffic flow and safety at Viking Drive by eliminating the connection to Rice Street and tying into Minnesota Street. APPENDIX A_I - 2 5 -