Agenda - Economic Development Authority - 07/14/2022

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Economic Development Authority (EDA) 4. 2. Meeting Date: 07/14/2022 Submitted For: Sean Sullivan, Community Development By: Sean Sullivan, Community Development Title: Consider Application for Sign and Awning Program: Miss Iz Ice Cream LLC Purpose/Background: PURPOSE Consider Recommendation to approve Miss Iz Ice Cream LLC Sign and Awning Program request. The City of Ramsey City Council adopted the Restaurant Subsidy: Sign and Awning Program on July 24, 2018 per Resolution 418-158. This program along with the SAC and WAC deferral loan program was part of an initiative to encourage more investment in new restaurants in the City of Ramsey. To date, only the Kitchen Table and Alison's Petite Pastries have been granted funds from the Sign and Awning Program. Staff has been working with Miss Iz Ice Cream this year to open up a new shop at 14050 St Francis Blvd NE, Suite B2 (Former Papa Murphy's location). The business will operate as a 50's theme ice cream/soda shop with counter service period decor and seating Staff has received a complete application and is looking for the EDA to consider a recommendation to consider this grant request for$1,500 from the Sign and Awning Program. Notification: N/A Observations/Alternatives: Miss Iz Ice Cream has signed a Five-year lease in Ramsey Town Square at 10450 St. Francis Boulevard NW Suite B2. Staff is viewing this new ice cream business as a new restaurant due to the onsite seating options and proposed operation of its business. This business is unique as well and brings a new restaurant type to the community. The applicant has received two bids for the onsite signage. Staff is looking for confirmation by the EDA that this business is eligible for the Restaurant Sign and Awning Program and support by the EDA of the grant request of $1,500. Alternatives Include: 1) EDA recommendation to City Council to Approve $1,500 in Assistance from the Sign and Awning Program for Miss Iz Ice Cream 2) EDA recommendation to City Council to Deny $1,500 in Assistance from the Sign and Awning Program for Miss Iz Ice Cream. 3) Something Else. Funding Source: Funding would come from the EDA 9230.6246 (marketing). The Applicant is requesting a$1,500 grant from the City Sign and Awning Program. This is the maximum allowable amount proposed under the program guidelines. The total estimated cost of the project is approximately$11,000. Miss Iz Ice Cream would be responsible for the balance. Recommendation: