City of Marshall Development Proposal to Ralco Nutrition, Inc

City of Marshall Development

Proposalto Ralco Nutrition,

Inc.August 7, 2012

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.

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.

Diagram 1A

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

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.

Diagram 2A