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- Cathy Bennett City of Mounds View Page 4 • As a concrete and specific example of the above-described phenomena, in late 1994, Everest attempted to attract Computype, Inc., a Roseville company involved in the bar code label printing business, to be an owner/occupant or anchor/tenant for the Building N project. After an extensive and competitive site search process, Computype officials informed us that our proposal to relocate the company to Mounds View Business Park was attractive and had been selected as its first choice, that is, until the City of Roseville offered and provided to Computype a $700,000 forgivable loan to remain in Roseville. Roseville retained a growing high-tech company and the Building N site remained vacant. To keep and attract desirable companies in Mounds View B,,,:-.--: 11 ' `_ _ __ .. establish a ousiness retention grant prc +o... .., � . ,.,,y;;. , tax ;as or equipri, purchases, tenant improvements, remodeling costs, etc., with grant amounts keyed to the size of the company, number of' employees, and some measure of documented company growth and expansion. The business retention program could be funded from a portion of the excess tax increment funds being generated by Mounds View Business Park. A City strategy and policy of keeping Mounds View Business Park strong and well-occupied, and the availability of appropriate tools to implement that policy, would seem to be a prudent way for the City/EDA to preserve and maintain the success of the business park and all the benefits which flow from that success, which in turn should have multiplier effects for the economic health and vitality of the Highway 10 corridor and the community of Mounds View as a whole. We look forward to the opportunity to discuss the foregoing proposals with you in the near future. Sincerely, EVEREST DEVELOPMENT, LTD. -7-14A—' imothy J. Nelson TJN/cm Smvpropsl/daily 3/29/96