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City of Marshall Development Proposal to Ralco Nutrition, Inc. September 25 , 2012. City Provided Land. Conveyance of 14.449 acres of land. Sonstegard Subdivision II: Block 1, Lot 1
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City of Marshall Development Proposalto Ralco Nutrition, Inc. September25, 2012
City Provided Land • Conveyance of 14.449 acres of land. • Sonstegard Subdivision II: Block 1, Lot 1 • 100% Grant to Ralco Nutrition, Inc. for a land value of $302,000 to begin construction of Phase I in 2012. • Estimated market value $302,000. • See diagram 1A. • 100% Grant to Ralco Nutrition, Inc. with provision for full value purchase or claw-back if commitments are not made. • Conveyance of land contingent on finalization of development plan.
City Provided Infrastructure • Extension Lake Road completed 2011. • All public utilities completed 2011 (water, sanitary sewer, stormwater, electric, streetlighting). • Estimated cost value $1,000,000 • 100% Grant to Ralco Nutrition, Inc. with provision for full value purchase or claw-back if commitments are not made.
Development Plan • Ralco Construction Details • 10,000 square foot warehouse • $60/square foot – construction cost • 24 foot sidewalls – steel structure • $200,000 estimated land preparation • Includes curb landscape, etc. • $350,000 equipment purchase & fabrication • Job retention of 6 FTE’s based on the new facility
First Right of Refusal • First Right of Refusal on 11.02 acres of land. • Sonstegard Subdivision II: Block 2, Lot 3 – 11.02 Acres • See diagram 2A. • First Right of Refusal in effect until January 1, 2018. • City of Marshall participation will be determined based on development agreement.
