Agenda - Economic Development Authority - 10/13/2004

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Motion carried. Voting Yes: Chairperson Riley, Members Steffen, Gromberg, Kiefer, and Strommen. Voting No: None. Absent: Members Kurak and LeToumeau. EDA BUSINESS Case #1: Monument Signs/Redevelopment Signs Economic Development / TIF Specialist Sullivan reviewed with the EDA that staff was directed to research sign types and possible vendors for signs for the City's Industrial Parks and other prominent locations at City entrance points. He presented the EDA with a number of pictures of sign types and requested direction from the EDA at the end of the meeting as to what type of signs would be appropriate. Economic Development / TIF Specialist Sullivan reviewed that during the August EDA meeting, the EDA discussed the possibility of erecting a sign stating that certain properties are part of a redevelopment project. Staff contacted several cities and was not successful in finding a city that erects such redevelopment signs. The City currently erects 8x4 white Land Use Signs that cost approximately $120 and require two staff people to install. Instead of installing a huge redevelopment sign, staff would suggest purchasing a few real estate signs and placing them on a property upon City purchase. The sign could state something to the effect that the City purchased the property for redevelopment purposes and is promoting high quality development. Member Gromberg inquired about the cost of a sign that is located on the property located across from Canyon Grill restaurant. Economic Development Consultant Mulrooney replied the cost is approximately $200 per sign. Member Gromberg suggested this type of sign be used, which would be posted in the ground. Associate Planner Wald inquired if complaints are received about these signs getting in the way of grading and construction. Economic Development Consultant Mulrooney replied the contractors work with the lenders on the projects to have their names put on the signs. He explained the signs are knocked over by the bulldozers if they are not removed early enough. Approximately 50 percent of the signs that are put up are lost. Associate Planner Wald expressed concern with staff being able to have the signs removed in a reasonable amount of time. She noted the point is to try to get someone to come into the property, not necessarily to promote a lender. Chairperson Riley stated he would like to see the signs be used multiple times. They should state something simple such as "A redevelopment site from the City ofRamsey EDA." The signs should be smaller than the land use signs but larger than the open house signs. Member Kiefer suggested the sign indicate that interested parties should contact the City. He commented when they look at $200 in comparison to purchasing and redeveloping the property, it is a very insignificant portion of the cost. Economic Development Authority/September 8, 2004 Page 2 of 9