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'A page advertisement with a web banner at a cost of $680. He stated that CBRE is interested in pursuing an ad and has recommended securing a '/2 page ad at a cost of $800 and CBRE has agreed to dedicate its marketing team to development of the ad. He stated that staff believes this advertising opportunity is an appropriate use of funds and represents a way for the City to get in the spotlight with real estate developers. He added that the advertisement includes a web banner and Finance and Commerce offers a 20% discount when doing both a print ad and web banner. Member Brunt stated his choice would be the 1/2 page advertisement at a cost of $800. Member Hardin stated the ad would appear as a one -time ad in the TOD issue and was not sure how much mileage the City would get out of a one -time ad unless it could be used for other marketing purposes. Economic Development Manager LaFrance stated the material created by CBRE could be used on the City's website and could also be used in the materials for the Positively MN tour. Member Riley requested that staff confirm that the City would be able to utilize and reprint the materials created by CBRE. He agreed that the City should secure a' /2 page ad. Vice Chairperson Skaff asked why CBRE is not participating in the cost of the ad. Economic Development Manager LaFrance advised that CBRE indicated they were willing to participate by providing the services of their marketing team and utilizing their software to create the ad. He stated that the City's contract with CBRE indicates that any marketing in addition to what CBRE is currently providing represents an added cost to the City. Motion by Member Brunt, seconded by Williams, to direct staff to secure a 1/2 page advertisement with a web banner for the TOD issue of Finance and Commerce with ad content to be developed by CBRE and City staff. Motion carried. Voting Yes: Vice Chairperson Skaff, Members Brunt, Williams, Hardin, and Riley. Voting No: None. Absent: Chairperson Steffen and Member LeTourneau. 4.02: Business of the Year Economic Development Manager LaFrance presented the nomination list for the 2014 Business of the Year including Acapulco, Allina, and Bolton & Menk. Member Skaff spoke in favor of selecting Allina as Business of the Year. Member Williams felt that all three businesses were excellent candidates and spoke in favor of selecting Acapulco as Business of the Year. Member Brunt spoke in favor of selecting Acapulco as Business of the Year. Member Hardin spoke in favor of selecting Allina as Business of the Year. Economic Development Authority /June 12, 2014 Page 2 of 4