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<br /> <br /> <br /> Page 2 - July 31, 2007 New Brighton Council Minutes <br /> <br /> Councilmember Bauman questioned why the City wouldn't require option payments sooner <br /> <br /> We 2010. Mark Nordling representing Ryan Companies stated the site currently is not <br /> lopable. The benefit to the City was described as offering a 120,000 square foot <br /> building with over 400 high paying jobs. The expansion option is required by any company <br /> similar to Transoma Medical, Inc. A 6% annual inflation price is considered in the option. <br /> <br /> Motion by Council Member Hoffman, seconded by Council Member Doffing to <br /> approve a term sheet with Ryan Companies for Transoma Medical, Inc. Office Project <br /> and authorize staff to begin preparation of a contract for private redevelopment. <br /> 5 Ayes - 0 Nays, Motion Carried. <br /> <br /> <br /> <br /> Adjournment Adjournment <br /> Motion by Council Member Hoffman, seconded by Council Member Doffing to Meeting was adjourned at <br /> adjourn the meeting. 8.09 pin.. <br /> <br /> <br /> 5 Ayes - 0 Nays, Motion Carried <br /> <br /> <br /> #eting was adjourned at 8:09 P.M. <br /> `Steve Larson,.. Mayor <br /> ATTEST: <br /> <br /> Daniel A. Maiers, Director of Finance and <br /> Support Services <br />