Title
Purchase Agreement - Trachtenberg Enterprise Group, Inc. (B)
Explanation
In late October, the Economic Development Department was contacted by Mr. Stephen Trachtenberg, President of Quartz Solutions. This firm is a manufacturer of granite and quartz countertops and is currently located in Bradford County. Mr. Trachtenberg expressed interest in purchasing Lot 3, a prominent corner lot located within the City of Gainesville Airport Industrial Park, to construct his new manufacturing facility in Gainesville. The Company is experiencing fast growth, necessitating a new facility. Mr. Trachtenberg resides in Gainesville.
Staff has negotiated a purchase agreement on Lot 3 with Mr. Trachtenberg. The agreement contains the following salient points:
* Purchase price for five acres is $100,000, the assessed value of the land;
* The purchaser's offer is contingent upon the ability to construct a manufacturing facility and showroom on the premises. This seems to be permissible based upon a First Step meeting held on October 25th;
* The purchaser indicated an interest in obtaining an Industrial Revenue Bond to prospectively finance the purchase of the land and construction of the building. Staff attempted to facilitate this by putting the purchaser and his attorney in touch with City bond counsel. This option proved not to be in the best financial interest of the purchaser;
* The purchaser indicated that he sought the waiver of any applicable impact fees. Staff is not aware of any impact fees administered by the City of Gainesville at this time;
* The purchaser indicated that he sought all required utilities within the right of way of the public roads immediately adjacent to the premises, between property line and back of curb, on the premise side of road. This fact was subsequently confirmed by the purchaser's prospective contractor following a meeting with GRU staff on November 18th;
* No other incentives are offered other than those that are...
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