HomeMy WebLinkAboutRESOLUTION - 55-22 - 11/15/2022 - TIF Redeveloppment Agreement with Stern Pinball, Inc (Busse-Elmhust TIF)RESOLUTION NO. 55-22
A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE
A TIF REDEVELOPMENT AGREEMENT BETWEEN THE VILLAGE OF ELK GROVE
VILLAGE AND STERN PINBALL, INC (BUSSE-ELMHURST TIF)
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows:
Section 1: That the Mayor be and is hereby authorized to sign the attached documents
marked:
REDEVELOPMENT AGREEMENT
a copy of which is attached hereto and made a part hereof as if fully set forth and the Village Clerk
is authorized to attest said documents upon the signature of the Mayor.
Section 2: That this Resolution shall be in full force and effect from and after its passage
and approval according to law.
VOTE: AYES: 5 NAYS: 0 ABSENT: 1
PASSED this 15th day of November 2022
APPROVED this 15th day of November 2022
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Loretta M. Murphy, Village Clerk
REDEVELOPMENT AGREEMENT
THIS REDEVELOPMENT AGREEMENT ("Agreement"), is made and entered into as
of the _ day of , 2022, by and between the Village of Elk Grove Village, an Illinois
home rule municipal corporation located in Cook and DuPage Counties, Illinois (the "Village"), and
Stern Pinball, Inc., an Illinois Corporation ("Stern"). Stern together with the Village, are
collectively referred to as the "Parties."
RECITALS
A. Pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILLS 5111 - 74.4-1
et seq. (the "Act"), in 2014, the Village adopted the Busse/Elmhurst Redevelopment Plan ("Plan")
and created the Busse/Elmhurst Redevelopment Project Area ("TIF District") in accordance with
the Act to stabilize and expand the Village's tax base.
B. Stern is the operator of the world's largest pinball company currently doing business
within the Village's Business Park. Stern is leasing its current location but has determined that it
now requires a larger facility. Stern has represented that unless it is able to find a larger facility
within the Village, it will be required to relocate into an alternate municipality.
C. Stern has represented to the Village that it plans to modernize and consolidate all of
its operations and production including the manufacturing of pinball machines (with the exception
of its playfield production operation) into one facility, create a showroom for its iconic branded
machines and create a showroom store including retail sales of Stern branded items ("Store"), all
within the Village's corporate boundaries.
D. Stern has agreed to enter into a lease for a new facility within the TIF District,
consisting of 163,875 square feet at 1001 Busse Road, which is legally described in Exhibit A
attached hereto (the "New Facility"). Stem's lease for the New Facility will be for a period of not
less than ten (10) years commencing on or before October 1, 2023 (the "Lease").
E. Stern has represented to the Village that the cost to expand its operation and to move
into the New Facility are prohibitive so the Village has agreed to provide certain assistance to help
defray a portion of those costs as specifically set forth herein (the "Assistance").
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October 21, 2022
F. Stern has represented that but for the Assistance as set forth herein, the Project will not
be financially feasible.
G. The Village is authorized to reimburse Stern for certain Eligible Costs, as that term is
defined in the Act, as set out in Exhibit B attached hereto.
H. The Village desires to retain Stem's operation and to encourage its expansion within
the Village to attract additional private investment in its Business Park, insure the ongoing stability
of the Village's taxing base for it and overlapping taxing districts, all of which will be in the best
interests of the Village by furthering the health, safety, and welfare of its residents and taxpayers.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements herein contained, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties do hereby agree as follows:
RECITALS PART OF AGREEMENT
The recitations set forth in the foregoing recitals are material to this Agreement and are hereby
incorporated into and made a part of this Agreement as though they were fully set forth in this
Article 1.
II
MUTUAL ASSISTANCE
The Parties agree to take such actions, including the execution and delivery of such documents,
instruments, petitions and certifications (and, in the Village's case, the adoption by the Village of
such ordinances and resolutions), as may be reasonably necessary or appropriate, in the judgment of
the Village, to carry out the terms, provisions and intent of this Agreement and to aid and assist
each other in carrying out said terms, provisions and intent.
III
REDEVELOPMENT PROJECT
3.01 Description of the Project.
Stern hereby agrees that it will enter into the Lease and commence Operations at the Property
pursuant to the Lease on or before January 1, 2024. Stern will relocate its business to the New
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October 21, 2022
Facility and operate its pinball business ("OPERATIONS") for a period of not less than ten (10)
years. The execution of the Lease, construction of necessary improvements, the relocation of its
equipment and materials to the New Facility and the commencement of operations thereon are
collectively referred to herein as the "Project."
3.02 Project Assistance.
The Village hereby agrees to provide the assistance ("ASSISTANCE") to the Project to defray
Eligible Costs as set forth in Exhibit B attached hereto. Provided that Stern is in compliance with
the terms and conditions set forth in this Agreement, the Village shall pay the Assistance as follows:
A. Upon the Village's issuance of the Certificate of Occupancy for the New Facility,
the Village shall pay Stern One Million Two Hundred Fifty Thousand Dollars
($1,250,000) of Eligible Costs;
B. So long as Stern continuously maintains its Operations in the New Facility, upon
the expiration of the 51h year of the Lease, the Village shall reimburse Stern an
additional Four Hundred Thousand Dollars ($400,000) in Eligible Costs;
C. So long as Stern continuously maintains its Operations in the New Facility, upon
the expiration of the 6" year of the Lease, the Village shall reimburse Stern an
additional One Hundred Thousand Dollars ($100,000) in Eligible Costs; and
D. In the event Stern either (1) extends the Lease for not less than 5 years; or (ii)
expands the square footage currently provided in the Lease by not less than 50,000
square feet, the Village will reimburse Stern an additional Two Hundred and Fifty
Thousand Dollars ($250,000) of Eligible Costs.
3.03 Village Reimbursement.
Stern shall submit contractor's sworn statements, invoices as appropriate along with proof of payment
as evidence that the costs of the TIF Improvements have been incurred and paid for by Stern. The
Village will then reimburse Stern within 30 days of receipt of Stem's documentation.
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October 21, 2022
3.04 Cook County Class 6b Tax Incentive.
Stern shall submit a petition to the Village for a Cook County Class 6b Property Tax Abatement for
the Project. Upon receipt of Stem's petition, the Village will adopt a resolution and issue and
deliver to Stern a "Letter of Acceptance." Once the Village issues a certificate of occupancy for the
New Facility and Stern commences its operation thereon, the Village shall deliver the approved
resolution to Stern for submission to Cook County.
3.05 Village's Right to Recover Assistance.
The Village is providing the Assistance as set forth in this Agreement based on Stem's representation
that it requires the Assistance to expand its Operation to 160,000 square feet and to enter into a ten
year lease. In the event Stern closes or reduces the square footage of its Operation, the Village shall
have the right to recover Assistance it has paid based on a pro rata calculation. By way of example,
if Stern closes its Operation after seven years, the Village shall have the right to recapture thirty
percent (30%) of the Assistance; if Stern reduces the size of its leased premises by 40,000 square feet,
the Village shall have the right to recover twenty-five percent (25%) of the Assistance.
3.06 Assignment of Lease or Stern's business.
Stern shall not assign or sell its Operation or the Lease without providing a sixty-day written notice
to the Village. Stem's assignee or purchaser shall agree in writing to assume Stem's obligation
under this Agreement or the Village shall have the right to cease paying the Assistance and to
recapture any Assistance previously paid to Stern. The Village shall have no obligation to issue any
building or occupancy permits to Stern, its purchasers or assignees until any Assistance due the
Village is paid in full.
3.07 Private Investment.
Stern hereby represents to the Village that it shall invest not less than Five Million Dollars
($5,000,000) of its private funds in the Project in accordance with the budget attached hereto as
Exhibit C.
Page 4 of 18
October 21, 2022
IV
APPROVALS, CONSTRUCTION & FEES
4.01 Exterior Building Elevation Plans.
Stern shall submit its proposed exterior elevations attached hereto as Exhibit D to the Village for its
approval so that the Village can insure the New Facility is constructed with a high -quality level of
design.
4.02 Village Approval of Plans.
The Village's approval of Stem's plans shall not be unreasonably withheld or denied so long as the
plans depict a high-level of design and are in conformance with all applicable Village Codes and the
requirements of any other agency having jurisdiction over the Project.
V
AUTHORITY
5.01 Powers.
The Village hereby represents and warrants that the Village is a home rule unit of government and
has full constitutional and lawful right, power and authority, under current applicable law, to
execute and deliver and perform the terms and obligations of this Agreement, including but not
limited to the right, power and authority to pay the Assistance as described herein, and this
Agreement has been or will be duly and validly authorized and approved by all necessary Village
proceedings, findings and actions.
5.02 Authorized Parties.
Whenever under the provisions of this Agreement and other related documents approval of the
Village is required, such approval may be granted by the Village Manager or his designee; and for
Stern, by any officer of the corporation as designated in writing from time to time (in any event, the
officers or managing member executing this Agreement are so authorized).
Page 5 of 18
October 21, 2022
VI
GENERAL PROVISIONS
6.01 Events of Default/Remedies.
A. Default by Stern.
Stern shall be in default of this Agreement in the event Stern:
(i) Fails to maintain its Operations, except for a temporary cessation due to circumstances as
noted in paragraph 6.05 of this Agreement, at the New Facility for a period of ten years
commencing on the date that the Village issues the Certificate of Occupancy; or
(ii) Assigns or sells the Operation or the Lease in violation of paragraph 3.05 of this
Agreement.
B. Default by Village.
The Village shall be in default of this Agreement if Stern is in compliance with the terms and
conditions set forth in this Agreement and the Village fails to pay the Assistance or take the
necessary action to effect the Class 6b tax abatement.
C. In the event of a default by the Village, Stem's sole and exclusive remedy shall be the remedy of
specific performance.
D. In the event of a default by Stern, the Village shall have the right to cease all payments of
Assistance and to recover the sums provided for in Paragraph 3.02.
6.02 Construction Indemnity.
Stern covenants and agrees, at its expense, to indemnify and save the Village, and its officers,
agents, employees, engineers and attorneys (the "Indemnitees") against, any actions, claims, and
damages adjudicated to be a result arising directly from Stem's construction of the Project, unless
such claims, actions, and damages are adjudicated to have arisen by reason of the negligent acts or
omissions of the Village.
Page 6 of 18
October 21, 2022
6.03 Insurance.
Stern agrees to obtain and cause it agents and contractors to obtain workmen's compensation as
required by applicable law and general liability insurance coverage in the amount of $1,000,000 per
occurrence and $2,000,000 in the aggregate, with respect to the construction and implementation of
the Project. The Village shall be named as an additional insured on the general liability policy.
6.04 Prevailing Wage.
Stern shall be responsible for meeting the requirements of the Illinois Prevailing Wage Act (820
ILCS 130 et seq.), (the "Wage Act") as it may be deemed applicable to the Project as determined by
the State of Illinois. Stern hereby indemnifies the Village for any fines, penalties or other charges
including reasonable attorney's fees incurred as a result of Stem's failure to satisfy the requirements
of the Wage Act. Moreover, if the State of Illinois determines the reimbursement of the Eligible
Costs is subject to the Wage Act, the Village shall have no obligation to make any payment to Stern
without Stern first submitting the documentation required by the Wage Act.
6.05 Delay.
For the purposes of any of the provisions of this Agreement, neither the Village nor Stern, nor any
successor in interest shall be considered in breach or default of its obligations under this Agreement
in the event of any delay caused by events or conditions beyond the reasonable control of the party,
including infectious disease pandemics, which in fact prevents the party from discharging its
respective obligations hereunder and the timeframes for performance of those obligations shall be
extended accordingly. Economic hardship shall not be a permitted reason for delay.
6.06 Building, Subdivision Codes.
The Parties agree that construction of the Project shall comply with all federal, state and Village
building codes, subject to modifications as approved by the Village pursuant to the ordinances
approving the plat and zoning relief.
6.07 Right to Inspect.
The Village shall have the right to examine Stem's books and records including all loan statements,
general contractor's sworn statements, general contracts, subcontracts, material purchase orders,
Page 7 of 18
October 21, 2022
waivers of lien, paid receipts and invoices in order to confirm that Stern has incurred the Eligible
Costs as set forth in Exhibit B.
6.08 Covenant to Pay Taxes.
Stern hereby acknowledges that the sole source of the Assistance is the incremental real estate taxes
generated within the TIF District. Stern hereby covenants to pay or cause to be paid all real estate
taxes levied against the New Facility promptly as they become due and owing.
6.09 Time of Essence.
Time is of the essence of this Agreement. The Parties will make every reasonable effort to expedite
the subject matters hereof and acknowledge that the successful performance of this Agreement
requires their continued and timely performance and cooperation.
6.10 Notice of Default & Right to Cure.
Before any failure of any party to perform its obligations under this Agreement shall be deemed to
be a default under this Agreement, the party claiming such default shall send a written notice to the
defaulting Party specifying the alleged default. No breach of this Agreement may be found to have
occurred if performance has commenced to the reasonable satisfaction of the complaining party
within fifteen (15) days of the receipt of such notice. This notice provision shall not be applicable if
Stern, its agents or assignees are in violation of any Village Code, including life and safety
regulations. If Stems Operations are forced to cease due to circumstances noted in 6.05, these
provisions shall be tolled during the time Stern is prevented from operating.
6.11 Amendment.
This Agreement, and any exhibits attached hereto, may be amended only by the mutual consent of
the Parties, as evidenced by the execution of a written amendment by the Parties or their successors
in interest.
Page 8 of 18
October 21, 2022
6.12 No Other Agreement.
Except as otherwise expressly provided herein, this Agreement supersedes all prior agreements,
negotiations and discussions relative to the Project and the Village's Assistance. This Agreement
contains the full agreement of the Parties.
6.13 Assigns.
This Agreement shall be binding upon the Parties and their respective permitted successors and
assigns.
6.14 Severability.
If any provision, covenant, agreement or portion of this Agreement, or its application to any person,
entity or property, is held invalid, such invalidity shall not affect the application or validity of any
other provisions, covenants or portions of this Agreement and, to that end, any provisions,
covenants, agreements or portions of this Agreement are declared to be severable.
6.15 Illinois Law.
This Agreement shall be construed in accordance with the laws of the State of Illinois.
6.16 Notice.
All notices and requests required pursuant to this Agreement shall be sent as follows:
To Stern Pinball, Inc.:
Stern Pinball, Inc.
2001 Lunt Ave.
Elk Grove Village, IL 60007
Attn: Chief Financial Officer
With copies to:
Stern Pinball, Inc.
2001 Lunt Ave.
Elk Grove Village, IL 60007
Attn: General Counsel
Page 9 of 18
October 21, 2022
To the Village:
Office of the Village Manager
Village of Elk Grove Village
901 Wellington Avenue
Elk Grove Village, Illinois 60007
With copies to:
Office of the Village Attorney
901 Wellington Avenue
Elk Grove Village, Illinois 60007
or at such other addresses as the Parties may indicate in writing to the other; such notice to be given
either by electronic mail, personal delivery, courier, or by certified mail, return receipt requested,
with proof of delivery thereof. Mailed notices shall be deemed effective on the date of mailing; all
other notices shall be effective when delivered.
6.17 Partnership; No Third Party Beneficiaries.
Nothing contained herein shall be construed as creating a partnership between the Village and Stern
or as creating or conferring any interest or benefit upon any third party.
6.18 Counterparts and Electronic Copies.
This Agreement may be executed in several counterparts, each of which shall be an original and all
of which shall constitute but one and the same agreement.
6.19 Recordation. Either party shall have the right to record this Agreement or a memorandum
thereof against the Property with the Cook County Recorder of Deeds.
6.20 Exhibits.
The exhibits attached to this agreement are hereby incorporated into and made a part of this
Agreement.
[SIGNATURE PAGES TO FOLLOW]
Page 10 of 18
October 21, 2022
IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to all
requisite authorizations as of the date first above written.
ATTEST:
Il
Village Clerk
VILLAGE OF E VE VILLAGE,
COOK AND KPAGE UNTIES, ILLINOIS,
an Illinois nicival Co oration
By:
Mayor Craig B.
TERN PINBALL, INC.
Page 11 of 18
x
EXHIBITS
A. LEGAL DESCRIPTION OF PROPERTY
B. TIF ELIGIBLE EXPENSES
C. PROJECT BUDGET
D. BUILDING ELEVATIONS
Page 12 of 18
October 21, 2022
October 21, 2022
EXHIBIT A
LEGAL DESCRIPTION
LOT 99 IN CENTEX INDUSTRIAL PARK UNIT NO 10, BEING A SUBDIVISION IN
SECTION 26, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL
MERIDIAN, IN COOK COUNTY, ILLINOIS.
EXCEPTING FROM SAID LOT 99 THAT PART THEREOF LYING NORTHERLY OF A LINE
DESCRIBED AS FOLLOW:
BEGINNING AT A POINT ON THE EAST LINE OF SAID LOT 99 WHICH IS 21.24 FEET
SOUTH OF THE NORTHEAST CORNER OF SAID LOT 99 AND WHICH IS NORMALLY
DISTANT 20 FEET SOUTHERLY OF THE SOUTH LINE OF LANDMEIER ROAD; THENCE
NORTHWESTERLY ALONG A LINE PARALLEL WITH AND DISTANT 20 FEET
SOUTHWESTERLY OF SAID SOUTH LINE OF LANDMEIER ROAD, A DISTANCE OF
175.20 FEET TO AN ANGLE POINT, THENCE WESTERLY ALONG A STRAIGHT LINE
FORMING AN ANGLE OF 19 DEGREES, 40 MINUTES TO THE LEFT OF THE LAST
DESCRIBED COURSE EXTENDED A DISTANCE OF 559.52 FEET TO A POINT ON THE
WEST LINE OF LOT 99 DISTANT 35 FEET SOUTH OF THE NORTHWEST CORNER OF
SAID LOT 99, IN COOK COUNTY, ILLINOIS.
ALSO EXCEPT THAT PART OF SAID LOT 99 DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHWEST CORNER OF LOT 99 AFORESAID, THENCE ON AN
ASSUMED BEARING SOUTH 1 DEGREES 11 MINUTES 31 SECONDS EAST, 35.00 FEET
TO THE SOUTH LINE OF LANDMEIER ROAD AS WIDENED AND FOR A POINT OF
BEGINNING; THENCE NORTH 88 DEGREES 36 MINUTES 00 SECONDS EAST ALONG
SAID SOUTH LINE OF LANDMEIER ROAD AS WIDENED, 15.00 FEET, THENCE SOUTH
43 DEGREES 42 MINUTES 14 SECONDS WEST, 21.25 FEET TO THE WEST LINE OF LOT
99 AFORESAID; THENCE NORTH 1 DEGREES 11 MINUTES 31 SECONDS WEST ALONG
SAID WEST LINE OF LOT 99, A DISTANCE OF 15.00 FEET TO THE POINT OF
BEGINNING.
Commonly Known as: 1001 Busse Road, Elk Grove Village, IL 60007
PIN: 08-26-303-014
Page 13 of 18
October 21, 2022
EXHIBIT B
TIF Eligible Expenses as of 10-21-2022
PHASE 1 -Building Construction
ITEM
Cost
CITY
Rolled Costs
General Requirements
40,000.00
1
40,000.00
Demolition
0.00
1
0.00
Carpentry&Millwork
37,850.00
1
37,850,00
Thermal & Moisture Protectioi
28,000.00
1
28,000.00
Doors& Windows (Inside)
88,900.00
1
88,900.00
Finishes
602,188.00
1
602,188.00
Specialties (Fire Alarm, etc.)
92,375.00
1
1 92,375.00
Plumbing
373,355.00
1
373,355.00
HVAC
449,400.00
1
449,400.00
Electrical
431,700.00
1
431,700.00
Overhead and Profit
140,756.99
1
140,756.99
Prologis Discounts
(54,688.60)
1
(54,688,60)
Exterior Building lmprovemen
1,000,000.00
1
1,000,000.00
Total Costs $ =
3,229,836.39
PHASE 1A - Building Prep work before move -in
ITEM
Cost
CITY
Rolled Costs
Factory Fencing
128,847.95
1
128,847.95
New building Locks
5,000.00
1
5,000.00
Misc. Permits
4,000.00
1
4,000.00
Security alarm system
8,000.00
1
8,000.00
Firealarm system
30,000.00
1
30,000.00
ITSever & Phones
3,500.00
1
3,500.00
ITSprinklers, electric shut
down, Air ducts
49267.50
1
49,267.50
Air compressor lines
217,607.92
1
217,607.92
Air compressor lines materials
140,235.00
1
140,235.00
BuildingSignage
25,000.00
3
75,000.00
Mural (all -in)
20,000.00
1
20,000.00
8'PinballSculpture
250,000.00
1
250,000.00
Moving Trucks
8,219.63
3
24,658.89
EV Charging Stations
1,500.00
6
9,000.00
Electrical dropsthroughout
factory
600,000.00
1
600,000.00
Total Costs $ =
1,565,117.26
PHASE
1B-Move4n costs
ITEM
Cost
QTY
Rolled Costs
Used Equipment
8,750.00
1
8,750.00
Moving, Pack mall
4,500.00
1
4,500.00
Forklift lift rental
4,500.00
1
4,500.00
Moving Pallets
4,000.00
1
4,000.00
MISC: Gas, Van, food
5,000.00
1
5,000.00
SPI Employees, move
27,240.00
10
272,400.00
Moving Trucks
16,439.25
5
82,196.25
Total Costs $ = i
i
i
381,346.25
PHASE SC
- Equipment and
Furniture
ITEM
Cost
CITY
Rolled Costs
Rotary Screw Compressor
(U), (1) Shared Dryer, (1) 240
gallon Wet
g
gallon Dry Tank.
69,350.00
1
69,350.00
Total Costs$ =
69,350.00
Total TIF Eligible Expenses
5,245,649.90
Page 14 of 18
October 21, 2022
EXHIBIT C
Project Budget for 1001 Busse Road EGV as of October 21, 2022
PHASE 1- Building Construction
ITEM
Cost
CITY
Rolled Costs
NOTES:
Tenant Improvement
Construction Budget
2,320,306.39
1
2,320,306.39
Demisingwall, bathroomsand
factory buildout, main electrical;
Mike Fisher (GC) estimate
Exterior Building lmprovemen
1,000,000.00
1
1,000,000.00
New windows, faux wood accents;
Prologis estimate
Additional Parking
20,000.00
1
20,000.00
Prologisestimate
Total Costs $ =
1
3,340, 306.39
PHASE 3A -Building
Prep
work before mo-4n
ITEM
Cost
CITY
Rolled Costs
NOTES:
Factory Fencing
128,847.95
1
128,847.95
New fencing installed
Fencing -rebate
4.500.00)
1
(4,50000)
Old fencing buy back
Factory Racks
317,191.05
1
317,1191105
New racking, installed
Racks Rebate
(28,0()0 00)
1
(28,000.00)
Old racking, buyback
Moving Pallets
5,000.00
1
5,000.00
Based on last move$2,600.00
New building Locks
5,000.00
1
5,000,00
Based on last move$1,271.14
Mist. Permits
4,000.00
1
4,000.00
Based on last move$1,250.00
Security alarm system
8,000.00
1
1 8,000.00
Fire alarm system
30,000.00
1
30,000.00
ITSever & Phones
3,500.00
1
3,500.00
Based on last move$1,755.12
ITSprinklers, electric shut
down, Air ducts
49,267.50
1
49,267.50
Based on last move$16,422.50
Air compressor lines
217,607.92
1
217,607.92
Throughout Factory labor
$54,401.98(C&M non -union labor -
no longer available)
Air compressor lines materials
140,235.00
1
140,235.00
Based on last move$35,058.75
Building Signage
25,000.00
3
75,000.00
On -Building signs
Mural (all -in)
20,000.00
1
20,000.00
Illuminated lobby mural
8'Pinball Sculpture
250,000.00
1
250,000.00
Awaiting bids
Moving Trucks
8,219.63
3
24,658.89
Mid -West movers
SPI Employees prep
5,448.00
6
32,688.00
30 people @ $22.70/hr.
EV Charging Stations
1500.00
6
9,000.00
Electrical drops throughout
factory
600,000.00
1
600,000.00
Assemblylines, microwaves, etc.;
was$141,685.00 at Lunt; Mallard
Electric estimate
Total Costs $ =
1,887,496.31
PHASE
1B-Move-in
costs
ITEM
Cost
CITY
Rolled Costs
NOTES:
Used Equipment
8,750.00
1
8,750.00
Heavyequipment move
Moving, Pack mat'I
4,500.00
1
4,500.00
Based on last move$3,500.00
Forklift lift rental
4,500.00
1
4,500.00
Based on last move$3,445.00
Moving Pallets
4,000.00
1
4,000.00
Based on last move$2,600.00
MISC: Gas, Van, food
5,000.00
1
5,000.00
Based on last move $1,125.67
SPI Employees, move
27,240.00
10
272,400.00
150 people @ $22.70/hr.
Moving Trucks
16,439.25
5
82, 196.25
Mid -West movers
Total Costs $ =
381, 346.25
PHASE
IC -Equipment
and Furniture
ITEM
Cost
CITY
Rolled Costs
NOTES:
Furniture Budget
500,000.00
1
500,000.00
Current furniture plus new
Rotary Screw Compressor
(X2), (1) Shared Dryer, (1)240
gallon Wet Tank, (1) 400
gallon Dry Tank.
69,350.00
1
69,350.00
This is used for Factory air tools, etc.
Phone cancel costs
20,000.00
1
20,000.00
Moving phones over; was$10,000
Total Costs $
I
589,350.00
Estimated Additional Tax Expense
269,704.15
Total Move Budget
6,468,203.10
Lease Commitment (Not PV): 25,983,719.48
Total Project Budget 32,452,922.58
Page 15 of 18
October 21, 2022
EXHIBIT D
BUILDING ELEVATIONS AND RENDERINGS
WEST ELEVATION:
SOLTH ELEVATION:
NORTH ELEVATION: ENLARGED ELEVATION:
..-1 iw-ra
ELEVATIONS: v-
Cc((RNTRl11WF ARfiIB:li 171. NI^'
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October 21, 2022
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