City Funds Sought for Microdot Expansion
Microdot, a division of Kaynar Technologies Inc., will ask the City Council tonight for Redevelopment Agency assistance of up to $25,000 to complete a recent expansion and upgrading.
The company, located in a city redevelopment project area at 190 W. Crowther Ave., had occupied 40,000 square feet and employed 120. But in 1996, Microdot added 28,000 square feet to its building, where it manufactures aircraft parts. The company also constructed a free-standing storage building.
With the improvements, the company now has 170 employees. Microdot is now requesting money from the agency as partial reimbursement for its $328,000 expansion.
Under a proposed agreement, the city funds would be considered a loan, deferred for 10 years and with a percentage forgiven for each year after the sixth that the company remains in operation on the site.
In other council consideration, Metricom Inc., based in Los Gatos, is seeking approval to install, operate and maintain a wireless communication network.
Consisting of shoe box-sized radio cells installed on city-owned traffic signals, the network is a subscriber service and would be available to computer users, allowing them to access online systems, fax information and send messages without phone lines.
The meeting begins at 7:30 p.m. in the council chambers at 401 E. Chapman Ave.
Information: (714) 993-8231.
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