HomeMy WebLinkAbout6.a. Ergotron Update CITY OF ROSEMOUNT
EXECUTIVE SUNIlKARY FOR ACTION
PORT AUTHORITY MEETING DATE: APRIL 5, 1994
AGENDA ITEM: ERGOTRON UPDATE AGENDA SECTION:
CONSULTANT/STAFF REPORTS
PREPARED BY: JOHN MILLER, AGENDA NO.
, ECONOMIC DEVELOPMENT COORDINATOR 6 . A.
ATTACHMENTS: NONE APPROVED BY:
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The port authority executive director, Tom Burt, and I met with Dan
Smithwick and Dennis Mooney from Ergotron on the afternoon of March 28 .
The meeting provided a review of recent Ergotron and port authority
activities including review of the Springsted Inc. analysis of Ergotron" s
financial position. You received that work about three weeks ago.
The meeting ended with Smithwick and Mooney advising us they would be
touring four different sites with the Ergotron president and his wife. If
for any reason Rosemount did not pass "the site-er-sight test, " Mooney
would contact us and that would be the end of the process. Rosemount would
be out.
I was contacted on March 30 by Mr. Mooney but with good news not bad.
Rosemount was judged an acceptable site but there is still concern abaut
area aesthetics . The prospect of the trail and linear park were
sufficient, however, to assure continued Ergotron interest and Mr. Mooney
asked about park implementation schedules .
At the March 18 meeting Mr. Mooney advised me that Ergotron' s internal
space needs analysis was complete and that present needs were for 50, 000
square feet with room for expansion to 95 , 000 square feet by 1999 . Mr.
Mooney also stated that Ergotron was working to get some private financing
for the building' s construction and is also visiting with the Minnesota
Department of Trade and Economic Development about assistance from the
state.
I was asked later if the Rosemount Port Authority could develop two or
three assistance packages for Ergotron. In turn I have visited with Mr.
Burt and I have been directed to complete the draft proposals . I expect to
do this with the assistance of Mr. D.rown and to have something for your
review shortly.
RECOI�IlKENDED ACTION: None. Information item.
PORT AUTHORITY ACTION: