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CITY OF ARDEN HILLS MEMORANDUM DATE: December 20, 1995 TO: Economic Development Committee FROM: Kevin Ringwald, Community Development Director SUBJECT: Monthly Report The following is a brief list of Staff contacts over the past several weeks. 1. CPI Guidant The Staff is continuing to work with CPI Guidant on their Phase II Economic Recovery Fund (ERF) grant application to the Minnesota Department of Trade and Economic Development(DTED). The grant is estimated to be $250,000 to $300,000 for CPI Guidant's consolidation and expansion of their Arden Hills campus. Currently, CPI Guidant is preparing the financial, equipment, and human resource portions of the application with the Staff s assistance. As a side note, in early December the City received its portion of the property tax collections for the period of May 20, 1995 to November 20, 1995 from Ramsey County. The amount received by the City was approximately$180,000 less than expected due to the material amount withheld for pending petitions and abatements. Investigation has revealed that of the five properties with pending petitions, 93 percent($160,438) stems from one petition-the CPI Guidant corporate campus. For your information, $160,438 is 8.9 percent of the City's 1996 levy of$1,794,320. 2. Gateway Business District The Staff has been working with a Fortune 100 company on a possible relocation to the GBD. The company would require up to 25 acres of land for a 300,000 square foot corporate office and distribution facility. The company is looking to purchase the Johnson and Pentair properties and a portion of the Harstad property (Exhibit A). The Staff is working with the company, property owners, and the City Council on determining the possibility of locating this company in the GBD. The Staff has received inquiries from a Hotel who is looking to locate in the 35W/694 corridor and was interested in receiving information on the Indykiewicz property. •