Title
Matters relative to industrial recruitment
Body
SUMMARY:
Following the lengthy conversation during the meeting held on July 31, it was apparent that there may have been some misunderstandings about the exact terms of the motion that need to be clarified. It is requested that the motion be amended to read:
"that a 60 day option be offered to an unnamed company, as of this date, to include: the sale of approximately 21.4 acres on Wyatt Court for $1.00 and other good and valuable considerations as follows; (1) a commitment toward an addition of 150,000-210,000 square feet of warehouse space during the next 12 months and after the expansion is approved by their Board; (2) the company will immediately convert 40 contract jobs to full-time and grow total employment by 25 by the end of 2013, provided there are no surprises in the industrial market they serve. Further, it is understood that at the end of May 2012, the Company employed 769 people (532 fulltime/237 contract) and that, if the option is exercised, they must begin construction of their building within one year of the date of the deed."
BUDGET ACCOUNT: Not applicable
Recommended Action
NECESSARY COUNCIL ACTION: That the action taken at the July 31st meeting regarding an option with an unnamed Company be amended to read as recommended.