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MEMORANDUM <br />TO: Joel Hanson, City Administrator <br />Business Development Services Inc. <br />FROM: Richard Lewis, Senior Development Consultant <br />Business Development Services, Inc. <br />DATE: December 20, 1989 <br />SUBJECT: DEVELOPMENT PROSPECTUS /CENTERVILLE ROAD INDUSTRIAL PARK <br />Background <br />The Little Canada Economic Development Committee requested that <br />BDS review the development potential of approximately 23 acres of <br />land along Centerville Road, north of Labore Road. <br />This property is presently zoned "I -P" Industrial Park District. <br />Public sanitary sewer and water is available through the middle <br />of the site, however, access is only provided along Centerville <br />Road. Whereas the property represents an excellent location for <br />Industrial /Office Showrooms, Research Labs, or smaller Wholesale <br />Operations, it may be difficult to market in its present <br />condition because of the shape of the parcels and the number of <br />owners. <br />BDS prepared a Development Prospectus as a marketing document <br />should the City wish to work with the property owners to market <br />this land to private developers. On December 19, 1989, the <br />Economic Development Committee agreed to proceed with a marketing <br />program subject to approval by the City Council. <br />Marketing Process <br />Upon approval by the City Council, BDS will initiate a marketing <br />program for this property. Industrial Developers will be <br />contacted to ascertain their level of interest. Those developers <br />interested in submitting a proposal will be asked to meet with <br />the Economic Development Committee and the property owners in a <br />series of informal meetings to discuss how the land could best be <br />utilized. The objective of this process will be to eventually <br />select one or more developers with whom the City can negotiate a <br />plan and financing program for development of this property. <br />8990 SPRINGBROOK DRIVE • S <br />Page 17 <br />IN 55433 • PHONE: 6121786 -6151 <br />