HomeMy Public PortalAbout088-2009 - City - EDC - Rose City Business ParkAGREEMENT
This Agreement is between the City of Richmond (hereinafter "City"), by Mayor Sally
Hutton, and the Economic Development Corporation of Wayne County ("hereinafter "EDC"), by
Tim Rogers.
WHEREAS, Rose City Business Park continues to grow and expand the economic
base of Richmond;
WHEREAS, The City of Richmond is committed to the retention of Masterbrand
Cabinets Company customer service center in Richmond and its approximate 75 jobs;
WHEREAS, Masterbrand Cabinets Company is negotiating a lease agreement to lease
11,800 SF at Rose City Business Park located at 1304 Rose City Blvd.;
WHEREAS, Rose City Business Park will have to invest approximately $500,000 to
demo and remodel office space, and create and improve parking to accommodate Masterbrand
Cabinets Company customer support center;
WHEREAS, Rose City Business Park has asked for incentives from the City of
Richmond to assist with this job retention project;
WHEREAS, The City can utilize the EDC as a conduit for distribution of economic
development incentives.
Now, therefore, the parties agree as follows:
1. The City of Richmond has offered to provide a general purpose grant to be
used in conjunction with Rose City Business Park, LLC's lease negotiations and
tenant improvements for Masterbrand Cabinets Company.
2. The general purpose grant shall be expendable for the cost of the design,
construction of tenant improvements and any acquisition and installation of
Tenant's furniture, fixtures, and equipment.
3. The entire general purpose grant shall not to exceed $50,000.
5. The City's general purpose grant will be given to the EDC and the EDC
agrees to forward the payment of the grant funds to Rose City Business Park,
LLC for uses as described in this agreement.
Contract No. 88-2009
All of which is agreed to this _15th day of _June , 2009
CITY OF RICHMOND, INDIANA
By: S/S Sarah L. Hutton
Sarah L. Hutton
Mayor
ECONOMIC DEVELOPMENT CORPORATION
OF WAYNE COUNTY
By: S/S Tim Rogers
Tim Rogers
President/CEO