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r - '-a <br /> ,G ., ' a <br /> }, <br /> 0 <br /> PELSTRING CAPITAL CORPORATION <br /> 4205 Lancaster Lane North*Suite 1100*Minneapolis,MN 55441 <br /> October 21, 1997 <br /> Ms. Catherine Bennett <br /> Director of Economic Development <br /> City of Mounds View <br /> 2401 Highway 10 <br /> Mounds View, MN 55112 <br /> Re: Fiskars Funding Request <br /> Dear Ms. Bennett: <br /> I appreciated the opportunity to meet with you, Dave Maroney, and Rick Jopke to <br /> discuss the request for $700,000 of funding to facilitate the relocation of Sims Deltec <br /> and the expansion of Fiskars. <br /> After careful and extensive discussions with CALPERS, the only alternative that <br /> works for CALPERS because of their financial requirements is the grant request of <br /> $700,000 to be paid in a lump sum payment in order to relocate Sims-Deltec. <br /> Therefore, CALPERS respectfully requests that the City Council consider this <br /> opportunity at its November 3, 1997 Workshop Session. As a condition of final <br /> approval CALPERS will provide the City with the necessary verification of costs. <br /> Fiskars continues its strong interest in expanding at its current site, in the contiguous <br /> space presently occupied by Sims-Deltec. Fiskars is a long standing multi-divisional <br /> international company which any community should be proud to have as a corporate <br /> citizen. Fiskars hopes the City of Mounds View will permit it to expand in Building <br /> A at Mounds View Business Park and therefore become one of the largest tenants in <br /> Mounds View. Their only alternative, if their request is not approved, would be to <br /> relocate to a facility large enough to accommodate its long-term growth plans. Based <br /> upon current lease commitments, there is not another facility which meets this <br /> requirement in Mounds View. As such Fiskars' relocation would result in the net loss <br /> of its current 60 jobs and projected new growth of 60 to 70 people over the next 0 <br /> several years. <br /> (612) 550-79801(0800-642-6258c,ro(612) 550-9221 Fax*pelstring@earthlink.net <br />