03-03-1997 WS - Laserfiche WebLink

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` p'_ GENERAL BENSON .ORTH CONTRACTORS ASSOCIATES Ms. Kathy Benne January 28, 1997 Ms.Pamela Sheldon City of Mounds View 2401 Highway# 10 Mounds View,MN 55112-1499 RE:Tax Ino:ement Assistance ZEP project,Lot 1,BIock 1 Northstar 2nd Dear Kathy, In response to your request for information on the above captioned property,I have enclosed your "worksheet",filled out to our best estimates at this time,along with the following project description which should answer the nine questions on the bottom of the form. We are proposing to build a 22,500 square foot building(expandable to 40,000)with additional mrrran nr area of 2500 sq.ft. This building will be 27 foot clear in height and constructed using a well insulated tin-un precast panel. The front of the building will appear to have two story office area with lots of glass and a dry- vit or"stucco-look finish"projected out toward Coral Sea Street. We plan to make extensive use of the existing trees to give the building the feeling of being set back in the woods. The building will be used as the regional heacfquarte:•s for Z0 Products. It will house their sales force, administrative offices,parkang and assembly operation,and warehouse needs. ZEP provides cleaning and iiosanitary products such as soaps,dispensers,and screens to the wholesale cleaning market,and area businesses. Attached is a copy of the letter dated January 23rd to Ms. Sheldon outlining the business. Though the structure will be tucked into the trees,we feel that the prorninmr location warrants the upgraded exterior design and will become a real asset to the park. With the construction of this project on this lot comes additional costs for utility purchase from Blaine.installation of another drainage pond,costs associated with saving the trees, tree removal,additional glass and dry-vit. This project may not be financially feasible for myself or=:),but for the potential tax in,.--ement financing assistance proms available to off-set some of these eligible expenses.We would like to request a 50% split with the City of the incetnent gear-ated by this project on a'pay-as-you-go basis. This project will generate real estate taxes of nearly 550,000 annually throusa the year 2015. The net resentvalue of this future cash flow is approximately 5300,000 of which 50% would cover our Wider,soil,ponding and grading costs. I hope this is the information that you were looking for in analyzing our requests. We are also very receptive to granting the City of Mounds View an easemctt for signage on the corner of the lot for golf course identification. Please call with any questions or comments you may have. Both ZEP and I look forward to becoming a part of your community and assisting hi the growth of your City. Resp ' y, BENS TH ASSOCIATES,INC. •Mark A.Ste' President 1