Agenda - Economic Development Authority - 04/10/2008

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Member Kiefer stated that he thinks going with the multi-color LED lights would really make a difference and noted that there is an example on Hwy 65 and Osborne Road in Fridley. Member Jeffrey suggested that the City consider participation on a percentage not to exceed amount. Chair Riley reiterated that the focus is on directional signage. Economic Development CQordinator Sullivan stated that staff is recommending that the City participate at 50% of $33,580, focusing on the directional type signs. Member Steffenasked if this signage was contingent on what the EDA decides to do. Mr. Gandel stated that decision has not yet been made. Member Kiefer asked if the EDA or the City could waive the permit costs for the signs. Member Jeffrey stated that this is a precedent that he does not want to start and he feels the permit costs are minor. Member Elvig stated that ifthe EDA participates in 50% of the costs, that goes towards picking up the permit fees anyway. Member Steffen asked if the motion can include language that the City's participation is only for directional signs. He stated that he thinks the City will open a can of worms if it participates in marketing signs versus directional signs because of the median construction. He stated that if the City states it will pay for Y2 of the LED sign, that will open the door for other companies to ask for the same thing. He stated that, in his opinion, the LED sign has nothing to do with the median construction and is just a marketing sign. Member Jeffrey suggested that it be clear that the City will reimburse the ownership group for 50% of the sign package, not to exceed $14,680. He stated that his concern is that the ownership group will strike their LED signage which means the City would end up paying 100% of the costs. The EDA discussed the language of the motion. There was a Consensus of the EDA that the EDA is interested in the entire sign package and sees the merit of participation in the directional aspects of the signage. The EDA is only interested in participating in the directional aspects of the signage. Motion by Member Kiefer, seconded by Member LeTourneau, that the EDA will participate up to a 50% level of the entire sign package for Sunfish Commons, in an amount not to exceed $14,680, which focuses on the directional signage portion of the entire package and help mitigate the potential effects of the hard channelization of Sunfish Lake Boulevard. Economic Development Authority/March 20, 2008 Page 7 of8 7