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(9) Restaurant Subsidy Policy <br />Staff is working to gather information related to the Restaurant Subsidy Policy to provide a <br />thorough update to the EDA. At it's 4/10 meeting the EDA requested the policy be brought back for <br />review/discussion in light of the recent closing of Falls Cafe. <br />Update <br />Plans have been submitted for a new restaurant to occupy the old "Falls Cafe". Opening date is <br />TBD. <br />(10) Sign Zone <br />It may have come to your attention that Sign Zone, on Thursday the 26th of June, announced its <br />plans to move its facilities (consolidation) from New Hope and Ramsey to Brooklyn Center. Sign <br />Zone purchased the Brooklyn Center property in November of 2013. In mid -July of 2013, Ramsey <br />Staff compiled, and provided to Sign Zone leadership, a holistic proposal to retain and expand their <br />operation here in Ramsey —based on numerous conversations with Sign Zone leadership. Sign Zone <br />chose to remodel an existing building in Brooklyn Center over a greenfield site just west of <br />Armstrong/Puma, which is slated to be our future business park. While this is certainly a loss for the <br />City of Ramsey, the growth of Sign Zone is a win for the region in which our businesses and citizens <br />live/work in. <br />Staff will work to connect with Sign Zone on the vacancy of their building (SW corner of <br />Sunfish/Bunker intersection). The EDA will assist in the marketing on the building, as is standard, on <br />our website and via our relationships. <br />