City of Marshall Development Proposal to Ralco Nutrition, Inc.
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Transcript of City of Marshall Development Proposal to Ralco Nutrition, Inc.
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City of Marshall Development
Proposalto Ralco Nutrition,
Inc.August 7, 2012
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City Provided Land•Conveyance of 15.09 acres of land.
Block One, Lot 6 – 15.09 Acreso 100% Grant to Ralco Nutrition, Inc. for a land value of
$301,800 to begin construction of Phase I in 2012.•Estimated market value $301,800.•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.
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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.
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Diagram 1A
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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
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First Right of Refusal• First Right of Refusal on 14.43 acres of land.oBlock Two, Lot 3 – 14.43 Acres
•See diagram 2A.• First Right of Refusal in effect until January 1,
2015.•City of Marshall participation will be
determined based on development agreement.
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Diagram 2A