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proposed project entry sign, noting the HRA has committed to this obligation under the Real Estate Contract between the HRA and McDonald's USA, LLC. Staff recommends that the HRA adopt a resolution approving the Work Order for construction of two permanent signs along Sunwood Drive in the amount of $60,554.00, contingent upon completion of the real estate transaction by and between the HRA and McDonald's USA, LLC. Deputy Executive Director Gladhill described the building materials and advised that this cost does not include electrical connections so that will be considered at a later date. He presented alternatives for consideration. HRA Executive Director Ulrich stated this is a community sign project for the three tenants /lots so the costs will be spread and passed forward when the tenants are in place or the lots are sold. Deputy Executive Director Gladhill clarified that the recommended bid includes dryvit, not Kasota Stone, due to the cost. He stated there is an obligation to provide two shared signs and McDonald's sign panels on those signs. Deputy Executive Director Gladhill stated it is being considered at this time because it is a requirement of the real estate contract and McDonald's wants the sign costs locked in at this point. HRA Executive Director Ulrich stated the sign would not be ordered until the property is closed and the HRA has land proceeds in hand. He noted the sign will not be started until spring and if desired by the HRA, can be constructed concurrent with McDonald's construction. Commissioner LeTourneau stated concern with deviating from building material requirements within the Master Sign Plan, over which hours were spent, due to the costs. He supported the HRA remaining consistent to Master Sign Plan requirements. Motion by Commissioner Tossey, seconded by Commissioner Strommen, to adopt Resolution #13 -11 -194 approving the Work Order for construction of two permanent signs along Sunwood Drive in the amount of $60,554.00, contingent upon completion of the real estate transaction by and between the HRA and McDonald's USA, LLC, and construction concurrent with McDonald's construction. Motion carried. Voting Yes: Chairperson Backous, Commissioners Tossey, Strommen, Johns, Kuzma, LeTourneau, and Riley. Voting No: None. 5.03: Consider Third Amendment to the Real Estate Contract with McDonald's Corporation HRA Executive Director Ulrich reviewed the staff report, noting this document is intended to be the final clean-up of outstanding issues prior to closing. He explained the City has the option to delay or reject the amendments as proposed, but doing so would delay the sale, subject to additional negotiation by the 'buyer. Staff recommends approval of the Third Amendment to the Real Estate Contract with McDonald's USA, LLC, subject to review and approval of the City Attorney. HRA Executive Director Ulrich reviewed the list of excluded restaurants. Housing and Redevelopment Authority / November 12, 2013 Page 3 of 5