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Published byJesse Price Modified over 9 years ago
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City of Marshall Development Proposal to 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 Acres o 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. o Block 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
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