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Home My WebLink About05-15-96 4 � ECONOMIC DEVELOPMENT COMMITTEE AGENDA Wednesday, May 15, 1996 8:00 a.m. Army Reserve Center 4655 North Lexington Avenue 1. Call to Order. 2. Oath of Office. 3. Approval of Minutes: a. March 20, 1996; and b. April 17, 1996. 4. Marketing Brochure. 5. Land O'Lakes 75th Anniversary 6. Council Comments. 7. Committee Comments. 8. Adjournment. If you are unable to attend this meeting, then please contact Julie at 633-5676. CITY OF ARDEN HILLS MEMORANDUM DATE: May 15, 1996 TO: Economic Development Committee FROM: Kevin Ringwald, Community Development Director SUBJECT: Oath of Office The City Council at its March 11, 1996 regular meeting appointed Tom Andreasen to the EDC. The City Council at its March 25, 1996 regular meeting appointed Ted Brausen to the EDC. Therefore, these two new members and Arnold Lindberg will need to have the Oath of Office administered to them by Council liaison Aplikowski. Committee members Andreasen, Brausen, and Lindberg and Council Liaison Aplikowski will find the Oath of Office form included in their May EDC agenda. Staff would appreciate Committee members Andreasen, Brausen, and Lindberg filling out this form and then bring it with you to the meeting at which time you will be sworn in for the year of 1996. CITY OF ARDEN HILLS Is MEMORANDUM DATE: May 15, 1996 TO: Economic Development Committee FROM: Kevin Ringwald, Community Development Director SUBJECT: Marketing Brochure The production of a marketing brochure is the second highest priority for the EDC in 1996. The Staff has placed the discussion of the marketing brochure as the principal discussion item on the July 24, 1996 EDC agenda. The Staff has been working with Land O' Lakes on putting together a draft of the internal portions of the marketing brochure. The draft will be distributed at the meeting. Additionally,the EDC wished to discuss the cover of the brochure. Chair McCallum offered to take photographs of various places of interest in Arden Hills, so that the EDC could compare the photograph cover with the watercolor cover. ' Lastly, Staff will have some cost estimates for the preparation of the brochure including various materials, colors, and styles. CITY OF ARDEN HILLS MEMORANDUM DATE: May 15,1996 TO: Economic Development Committee FROM: Kevin Ringwald, Community Development Director Pr`� SUBJECT: Land O' Lakes Land O' Lakes is celebrating its 75th Anniversary in July of 1996. Land O' Lakes is a valued corporate citizen in our community which employs approximately 750 persons. Land O' Lakes also generously donates the time of its employees and money to various civic functions. The Staff has attached a draft resolution that the Economic Development Committee may wish to forward to the City Council for their consideration. The Staff would conclude that sending some form of congratulatory note to Land O' Lakes is appropriate. • STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF ARDEN HILLS RESOLUTION 96-32 RESOLUTION CONGRATULATING LAND O' LAKES ON THEIR 75TH ANNIVERSARY WHEREAS,The City of Arden Hills values its corporate citizens as irreplaceable partners in the development and maintenance of a high quality community; and WHEREAS, Land O' Lakes has provided its employees the time to participate in important civic functions, such as their serivice on the Arden Hills Economic Development Committee and the TCAAP Re-Utilization Committee; and WHEREAS, Land O' Lakes has generously donated a significant amount of money to the Perry Park fund, which was used to assist in the revitalization of this community park; and WHEREAS, Land O' Lakes is celebrating their 75th Anniversary on July 10th and 11th of 1996. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills, Minnesota that on behalf of the residents of Arden Hills the City Council congratulates Land O' Lakes on their 75th Anniversary. NOW, THEREFORE, BE IT FURTHER RESOLVED by the City Council of the City of Arden Hills, Minnesota that on behalf of the residents of Arden Hills the City Council extends its thanks to Land O' Lakes for their continued commitment on being a valued corporate citizen. PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 28TH DAY OF MAY, 1996. DENNIS PROBST, MAYOR ATTEST: BRIAN FRITSINGER, CITY ADMINISTRATOR i CITY OF ARDEN HILLS MEMORANDUM DATE: May 15,1996 TO: Economic Development Committee FROM: Kevin Ringwald, Community Development Director SUBJECT: Land O' Lakes Land O' Lakes is celebrating its 75th Anniversary in July of 1996. Land O' Lakes is a valued corporate citizen in our community which employs approximately 750 persons. Land O' Lakes also generously donates the time of its employees and money to various civic functions. The Staff has attached a draft resolution that the Economic Development Committee may wish to forward to the City Council for their consideration. The Staff would conclude that sending some form of congratulatory note to Land O' Lakes is appropriate. STATE OF MINNESOTA 3�0 COUNTY OF RAMSEY CITY OF ARDEN HILLS J% RESOLUTION 96-32 ^yc -U RESOLUTION CONGRATULATING LAND O' LAKES s� ON THEIR 75TH ANNIVERSARY WHEREAS, The City of Arden Hills values its corporate citizens as irreplaceable partners in the development and maintenance of a high quality community; and WHEREAS, Land O' Lakes vided its employees the time to participate in important civic functions, such as the i eriv the Arden Hills Economic Development Committee and the TCAAP Re-Utilization Commi ee, and WHEREAS, Land O' Lakes has generously donated dsignificJ to the Perry Park fund, which was used to assist in the revitalization of this community park; and WHEREAS, Land O' Lakes is celebrating their 75th Anniversary on July 10th and 11th of 1996. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills, Minnesota that on behalf of the residents of Arden Hills the City Council congratulates Land O' Lakes on their 75th Anniversary. NOW, THEREFORE, BE IT FURTHER RESOLVED by the City Council of the City of Arden Hills, Minnesota that on behalf of the residents o n Hills the City Council extends its thanks to Land O' Lakes for their continued commitm nt�b ing a valued corporate citizen. -f10 PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 28TH DAY OF MAY, 1996. DENNIS PROBST, MAYOR ATTEST: BRIAN FRITSINGER, CITY ADMINISTRATOR i CITY OF ARDEN HILLS MEMORANDUM DATE: May 15, 1996 TO: Economic Development Committee FROM: Kevin Ringwald, Community Development Director SUBJECT: Monthly Report 1. Gateway Business District. The Staff is still working with locating two previously described clients in the Gateway Business District (GBD). The two clients and Staff have been working on co-locating both into the GBD. Action by both of these clients is anticipated shortly. The Staff has also met with two large development corporations who each are interested in developing in the GBD. The Staff will update the EDC on the activities within the GBD. 2. TCAAP. The Staff has received the Twin Cities Army Ammunition Plant (TCAAP) Framework Plan from Camiros, the only outstanding item is the final modeling of the fiscal impact. Also, it would appear that the final TCAAP Re-Utilization Committee plan is slowly moving towards completion. The Arden Hills Task Force will be asked to reconvene shortly to produce its final recommendations to the City Council for their consideration. 3. CPI Guidant. The Staff has received a request for additional information from the Department of Trade and Economic Development (DTED) on its $300,000 grant application on behalf CPI Guidant. The Staff has been working with CPI Guidant on obtaining the additional information and providing it to DTED. 4. International Paper. The 49,047 square foot expansion to International Paper was approved by the City Council at its April 29, 1996 meeting. International Paper will employ, after the expansion, 105 employees. 5. Golden Quince Bakery. The Golden Quince bakery is locating into the space formerly occupied by Pizza Hut in Arden Plaza. Internal modifications to the space are currently being conducted and the bakery should be opening soon. 6. GalaGen. GalaGen is a biotechnology spin-off company of Land O'Lakes. GalaGen is currently housed at the Land O'Lakes headquarters in Arden Hills. The attached article from the Saint Paul Pioneer Press (March 28,1 996) announces the companies first public stock offering. GalaGen in anticipating approval of its Sporidin-G by the Food and Drug Administration(FDA) has recently commenced $800,000 of internal improvements to its space at the Land O'Lakes facility in Arden Hills. 7. Leasing Guide. The Spring of 1996 Leasing Guide was recently distributed and included several Arden Hills buildings. The Staff has included that part of the Leasing Guide for your information. 8. CPI Guidant Mini Pacemaker. CPI Guidant recently received FDA approval for its newest line of mini pacemakers, the Ventak Mini II. Attached is an article from the Saint Paul Pioneer Press (May 1, 1996)which further describes the product and its approval. 9. CPI Guidant vs Saint Jude Medical. CPI Guidant was recently sued by Saint Jude Medical for alleged patent violations. Attached is an article from the Saint Paul Pioneer Press (May 7, 1996) which further describes the conflict. oy� THL:RSDAY, MARCH 18, 1996 Ski\T P\UL. PIONFER PRESS 3E 4J j INITIAL PUBLIC OFFERINGS V GalaGen ends first dq- v at offer price 1 The initial public offering gives writers said in February that they z" LEE EGERSTROM STAFF WRITER GalaGen a market value of $67 hoped to sell the stock for between million. But, as is the case with $11 and $13 a share. 4`1 GalaGen Inc., the biotechnology most biotechnology stocks, that Land O'Lakes, the dairy cooper- °' firm that is working on therapeu- value is based on investors' inter- ative that founded GalaGen and tic products for AIDS, cancer and est in the company's future, not houses it at its Arden Hills head- other immune system patients, immediate earnings. quarters, will retain about 23 per- 9A went public Wednesday by offer- The offering sought to raise at cent of GalaGen's outstanding ing 30 percent of its outstanding least $20 million to support Gala- shares. The rest of the shares are shares to raise about $20 million Gen's continuing research and owned by various private inves- to support its research and clinical clinical trials for its lead product, tors, investment banking or ven- trials. Sporidin-G, which has shown ture capital firms, and a Califor- More than 553,700 shares of promise in protecting AIDS and nia biotech company. a GalaGen's 2 million-share offer other immune disorder patients Sporidin-G is made from colos- traded on the national over-the- from life-threatening diarrhea. trum, the natural antibody-laden counter market. GalaGen's under- Tests on the product are under milk taken from dairy cows the writers priced the stock at $10 a way, and the U.S. Food and Drug first few days after they've given share, where it closed at day's Administration has recognized it birth. Dairy farmer members of end. as an "orphan drug," meaning that Land O'Lakes will supply GalaGen Investors bid the stock up to GalaGen could have exclusive with the colostrum. $10.75 as it began trading, but it rights to it for at least seven Sporidin-G attempts to help quickly sank on a weak opening years AIDS and cancer patients receiv- market to the $10 offer price and Montgomery Securities heads an ing chemotherapy treatments by .bounced between $10 and $10.50 underwriting group offering the building passive immunity to bar- during trading. stock. The company and under- teria, parasites, fungi and viruses. u:k Rate U.S. P•. .•' PAI Permit • MPLS, MN Itr JF - ? t i • • + k , IIN OII ; IBS _ r ON . OVEN Relan t, qe � �_��~/ '.i,%//!// 'fir ",� �9_ 'A _.,7��` Q ,,I{a Ta�,,� :. �r •F -r" +�� - K .. _ - - ,,_ ,:•-� _ � sS"+tee�., i tt ..;a 14 u 2 3 4 5 6 Blaine 75 / Forest Lake 75E 61 Map 5 White Bear St.Paul North and West/ Lake I!'ortlt St.Paul Suburbs Arden Hills Shoreview 694 Vadnais Heights New Brighton 36 66 Little Canada Stillwater Roseville Lake Elmo Maplewood Oakdale 51 694 Zeo St.Paul t 94 Map BUILDING NAME Total Space Large/Small Rate Type Agency Contact(s) Yr Address SF Available St per Flr/!k Fis Total Phone . 5/B-2 ARDEN PLAZA OFFICE BLDG 43.584 5,000/ 157 510.00/510.00 N United Properties Mike Ohmes 1975 3585 Lexington Ave.N. 14,749 / S5.80/S1.36 612-893.8838 Tom Stella . 5/13-2 ARDEN WOODS 64,665 5,328/ 1,000 S16.00/S16.00 G Towle Real Estate Company Todd Mongrain 1974 4105 Lexington Ave.N. 27,370 21,500/3 56.36/51.96 612-221-1949 Jane Donnellan • 5/C-1 NORTHPARK CORPORATE CENTRE 145,578 16,561/890 511.00/510.00 N Welsh Companies Bryan Beltrand 1984 1200 County Rd.E. 33,864 16,400/ 3 S7.43/ 612-371-4500 • 5/C-1 NORTHWOODS OFFICE CTR 73,521 0/0 S13.00/S12.00 N United Properties Mike Ohmes 1986 3900 Northwoods Dr. 0 24,000/3 S6.91/$2.58 612-893.8838 Tom Stella Forest Lake 5/A-3 TOWN SQUARE 38.000 1,700/ 1,200 S13.50/$12.50 G The Gaughan Company Tom Hart 1983 20 Lake St.N. 1,700 11,500/3 S4.00/$2.00 612-786-6320 'Little Canada 5/0-2 GOPHER BLDG 39,200 0/0 512.00/$10.00 G Griffin Companies Craig Kirkpatrick 1980 222 Little Canada Rd.E. 0 19.600/2 S6.03/ 612-337-8150 Steve Chirhart 5%D-2 1973 SLOAN PL BLDG 28,000 6,000/500 $14.50/S13.50 G Cave&Associates Ltd. Barb Ritchey 1969 1973 Sloan Pl. 12,000 10,000/3 S6.50/ 612-482.9668 Craig Ankrum Maplewood 5/E-3 MAPLEWOOD EXECUTIVE CTR 40,000 0/0 S18.00/S15.50 G Points West Realty Adrian Johnson 1986 2785 White Bear Ave. 0 10,000/4 S6.50/$2.50 612.939-0939 5/D-3 MAPLEWOOD PROFESSIONAL BLDG 47,845 0/0 S17.25/S17.25 N Towle Real Estate Company Nan Hynes 1983 1655 Beam Ave. 0 11,700/4 512.25/ 612.232-4924 New Brighton 5/C-1 LONG LAKE OFFICE CTR 69,975 0/0 S12.00/S11.00 N Normandale Properties Lisa Diehl 1990 900 Long Lake Rd. 0 23,000/3 $6.77/$2.55 612-936.4642 5/C-1 NEW BRIGHTON PROF BLDG 38,383 0/0 510.00/$10.00 N United Properties Mike Ohmes 1987 1900 Silver Lake Rd. 0 14,000/3 59.50/54.96 612-893-8838 Tom Stella Leasin- Guide ` 43 j I LAC-H. SAINT PAUL PIONEER PRESS JP 2.32 UNCH_. JP 0.07 1 ST JP 0.13 JP 0:46 MAY 1996 SECTION P WEDNESDAY 6 PAGES p Ip from 1ph MEDICAL TECHNOLOGY T CPI55 rapt' gets FDA nod for littlest pacemaker JUDITH YATES BORGER STAFF WRITER t Less is more in the game of controlling `'P' surprise instead of a negative sur- ' hearts that beat too fast, and Arden prise." `j Hills-based CPI decidedly had more V CONTINUED FROM IC Surprise was the operative word Tuesday. from Medtronic's perspective. Guidant Corp., CPI's Indianapolis-based ic's device to. get hearts back on "The FDA said they want to be parent, pulled significantly ahead of its track. unpredictable, and they've certain- tospA competition with the news that it has "We thought 34 joules of im- ly proved it," said Reid. U.S. Food and Drug Administration pulse was necessary, but now the Meanwhile, competitor Plym- tlon k approval to sell the newest, smallest FDA has approved their 25 outh-based Angeion has stuck with implantable defibrillator in the world. joules," said Medtronic's Reid. A plans to continue work for several 's only "They've got the checkered flag on this joule is equivalent to 10 million months on a similar device, one," said Dick Reid, spokesman for Fri- ergs, a metric measure of energy. though it will be virtually the ventu), I dlev-based Medtronic, CPI's chief com- Wall Street registered its ap- same size and less effective than petitor. proval, raising Guidant's stock CPI's. While CPI's device stores The marketplace prizes the smallest from $2.871/'2 to $56 a share. Part electrical cardiogram information, T DAVID devices that control erratic hearts by of the nod came because analysts Angeion's does not. delivering an electrical jolt. While hadn't expected CPI to garner ap- However, a later generation STAFF\A Medtronic and CPI have seesawed over proval until September. that Angeion hopes to have ap- which can make the smallest device, CPI got earlier-than-expected proval to sell in the United States CPI's 59-cubic-centimeter device is clearance by filing an amended by 1999 will be markedly smaller markedly smaller than Medtronic's 83cc application for its Ventak Mini than CPI's, store the heart infor- device. HC, a slightly larger devicethat mation and last three or four The devices are implanted in the was also approved. The regulatory years longer than its competitors' shoulder, where there is usually little shortcut, which Guidant kept from models, according to Brenda Roth, room. A wire connects the box to the Wall Street, was a smart move, Angeion spokeswoman. heart to deliver a shock as needed. according to Piper Jaffray analyst Despite CPI's Tuesday win, About a half-inch smaller than a Arch C. Smith. Smith said it would be a mistake pager and weighing a quarter of a "If they had told people, they to rule Medtronic out of the race. pound, CPI's Ventak Mini II pulse gener- would have expected the approval "CPI has the advantage now, ator delivers less energy than Medtron- earlier rather than later," Smith but Medtronic is going to throw a said. "This left room for a positive lot of money at this," Smith said. CPI CONTINUED ON 2C lo. 6 gp 1 gpq� w p 4 k; n � -1, the stouK galneu u 17JdUf7� t . + d � �.��. ^,, 3.72 cent, and closed a 0.66 SAINT PAUL PIONEER PRESS 1.71 the first time since 0.03 o.os cord released no n 7TH o.oa E tions are growing fl 0.17 MAY 1996 SECTION earnings. Tricord hl ,1.60 SDAY 1.021 6 PACES high of$6.75 before )045 Market wrap-up, P 0.14 MUTUAL FUNDS LITIGATION V SUIT • St. Jude es V CONTINUED FROM IE issue with CR ho million a year, depending on how many pacemakers Pacesetter sells, according to Kruger. patents in t� similar agreement with Gui- dant would allow St. Jude to buy Ventritex, giving it the opportuni- ty to manufacture and sell both JUDITH YATES BORGER STAFF WRITER types of technology. /� St. Jude is trying to put itself nST M division of St. Jude Medical Friday in a bargaining position," Scherer '— sued cross-town rival Cardiac Pacemak- speculated. ers Inc., charging it with three patent Guidant plans defend its tech- violations involving devices that control nology, according g to Carol Lin- violations spokeswoman for CPI. y heart beats. Such lawsuits are fairly common in named in the lawsuit do not in- believe that the products m the highly litigious medical device Indus- try, but this one has the earmarkings of fringe the patents listed in their a prelude to a St. Jude bid to buy com- lawsuit,"position l said. "We'll de- petitor Ventritex Inc., of Sunnyvale, fend our position vigorouslyt, Calif., analysts speculated Monday. Jay Graf, CPI president, St. Jude is positioning itself to negoti- St. Jude to comment on any motive ve ft- ate a cross-licensing agreement with St. might have regarding Indianapolis-based Guidant Corp., CPI's Ventritex. parent company, according to Kurt Representatives from St. Jude also declined to discuss Ventritex. Kruger, who follows Guidant and St. to Jude for Montgomery Securities in San "This is strictly between Francisco. Such an agreement would Jude and Guidant," said Peter clear the way for St. Jude to buy Ventri- G t spokesman for St. Jude. A tex, one of three makers of implantable At the close of the stock market defibrillators. Guidant's shares were down $1.371/2 St. Jude wants a defribrillator device a share to $55; St. Jude n to complement its pacemaker technolo- was s u up 62111 cents at $37.25 and ,h gy. Implantable defibrillators control Ventritex was up $1.25 a share to hearts that beat too fast, while pacemak- ers control hearts that beat too slowly. "There are only three defibrillator players: Guidant, Medtronic and Ventri- tex, in that order," said Rachael Scherer, an analyst with Dain Bosworth. " The barriers to entry are very high, so St. Jude is looking at a number of options. The one with the nearest term revenue would be to buy Ventritex." But to do that now would leave St. Jude open to lawsuits. A cross-licensing agreement with Guidant before buying _ Ventritex would shield St. Jude from those suits, according Scherer. In most cross-licensing deals, one com- ts pany pays another to use its patent and they agree not to sue each other, or their subsidiaries, over patent infringement. d St. Jude's Pacesetter division has such 3_ an agreement with Fridley-based Medtronic. It pays Medtronic about .d SUIT CONTINUED ON 2E 0,