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. 4 <br /> CITY OF ARDEN HILLS <br /> MEMORANDUM <br /> DATE: October 16, 1996 <br /> TO: Economic Development Committee <br /> FROM: Kevin Ringwald, Community Development Director 4.— <br /> SUBJECT: Monthly Report <br /> 1. Welsh Companies. The City Council on September 30, 1996 approved the Welsh <br /> Companies development proposal (Planning Case 96-12) in the Gateway Business <br /> District. As you will remember the Welsh Companies proposal (Phase I)was for a <br /> 154,237 square foot industrial building ($6.5M to $7.OM) on the"Binger"property, <br /> which is located at the northeast corner of Round Lake Road and Butcher's Street. <br /> The Staff had previously mentioned some concern on behalf of the institutional investors <br /> in the project regarding the office build out requirement of 20 percent. The City Council <br /> in its approval addressed this by lowering the office requirement to 8 percent for this <br /> building and looking at the overall development in the GBD to be at least 20 percent <br /> • office. <br /> The Staff is working with Welsh Companies on the development of Phase II of this <br /> project (Pentair property). Welsh Companies would like to start construction on Phase II <br /> (approximately 120,000 square feet) in February or March of 1997. As always, the Staff <br /> will keep the EDC informed on development activities in the GBD. <br /> 2. Minnesota's Brownfield sites becoming greener. The September 30, 1996 issue of the <br /> Minnesota Real Estate Journal contains an article written by Martha Brand. The article <br /> discusses the state's involvement in fostering development on polluted sites (brownfields) <br /> in Minnesota. <br /> 3. Why Minnesota will Skip the Next Recession. The October of 1996 issue of the Twin <br /> Cities Business Monthly contains an article written by Kate Peterson. The article <br /> discusses how the states farm businesses will cushion the state's economy during the next <br /> recession. <br /> 4. In a Solid State. The October of 1996 issue of the Twin Cities Business Monthly <br /> contains an article written by Allison Campbell. The article discusses the health of the <br /> state's manufacturing sector. <br />