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• <br />5. APOLLO BUSINESS PARK DEVELOPMENT <br />2003 REVIEW: One 10 -acre site and one 2.2 -acre site are available. Staff continues <br />to work with Griffin Properties to market the sites. In addition, one 3- <br />acre site is now available for resale. These parcels are within TIF <br />District No. 1 -9, which was established in 1998 and does not have <br />enough remaining capacity to provide assistance. TIF District No. 1 -7 <br />was decertified, and $10 million in industrial tax base is now on the <br />tax roles. Leasable space available has provided opportunities for <br />numerous small companies to move to the city. Synovis (formerly Jer- <br />neen, a medical parts manufacturer,) has become one of the city's <br />largest employers. <br />PURPOSE: Continue marketing the Apollo Business Park to full buildout. <br />411/ TIME FRAME: Two years <br />ASSIGNED TO: City staff, EDAC <br />STRATEGY: <br />• <br />1. Facilitate the full development of the G.M. Development sites. <br />2. Initiate a meeting with business owners to discuss the development of an <br />improvement plan for outdoor storage, trash containment, signage, <br />lighting and landscaping. <br />3. Evaluate the cost/benefit of facilitating the development of the remaining <br />parcels by establishing a new TIF District. <br />PROJECTED RESULTS: <br />Full development of Apollo Business Park, realizing the optimal tax <br />base of approximately $40 million and close to one million square feet <br />of light industrial space. <br />9 <br />