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411) PROJECT DESCRIPTION <br /> The Mounds View Business Park is high quality, class A office showroom park <br /> in Mounds View. Several large, major employers have located in Mounds View <br /> due to the Park's high quality office/showroom space and excellent access to 35W <br /> and Highway 10. Sims Deltec has been a tenant in "Building A" for several years <br /> and currently has a long-term lease on its space. Fiskars acquired the "Portable <br /> Product" business approximately 18 months ago and since that time has generated <br /> significant growth in the business. This growth will require almost doubling its <br /> current space and the company projects requiring the whole building within 3 <br /> years. <br /> Fiskars/Portable Products' only viable option in Mounds View would be to <br /> continue expanding its current space. By expanding into the Sims Deltec's space, <br /> Fiskars/Portable Products avoids the disruption of moving to another space and has <br /> the ability to ultimately occupy over 100,000 square feet. <br /> CALPERS owns Building A and has the opportunity to move Sims Deltec into <br /> another one of its facilities, most likely Building G, thereby retaining the company <br /> 0 in Mounds View. Sims Deltec, however, will not consent to the move unless it <br /> is reimbursed for its leasehold improvements of approximately $700,000. <br /> Building A is located within the original "pre 1990" redevelopment TIF district <br /> created for the Mounds View Business Park. This district runs through 2013 and <br /> generates very substantial tax increment reserves for the City. We understand that <br /> the Business Park, overall, generates over $700,000 each year, in excess <br /> increments. We would request a grant of $700,000 to be applied to pay for <br /> leasehold improvements and pay for the relocation costs to relocate Sims Deltec <br /> within the Park. The inability to provide this funding would force Fiskars/Portable <br /> Products into considering relocating into a larger, expandable facility, most likely <br /> out of the City of Mounds View. <br /> COMPANY DESCRIPTIONS <br /> The economic impact of this transaction is very critical for the City c 1 Mounds <br /> View. Both companies provide significant, high quality employment and <br /> Fiskars/Portable Products, in particular, has the potential for substantial additional <br /> ill growth. In order to understand this impact, we have provided an overview of the <br /> two companies, their current employment, and growth potential. <br />