Agenda - Economic Development Authority - 03/14/2024

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Economic Development Authority (EDA) Meeting Date: 03/14/2024 Primary Strategic Plan Initiative: Promote economic growth and development. 4. 2. Title: Consider Recommendation to approve Bossman Inc. Sign and Awning Program request. Purpose/Background: The City of Ramsey City Council adopted the Restaurant Subsidy: Sign and Awning Program on July 24, 2018 per Resolution #18-158. 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 and Miss Iz Ice Cream have been granted funds from the Sign and Awning Program. Staff has been working with Bossman Inc. (Chanticlear Grill) this year to renovate and open up a new full service, sit-down restaurant at 7900 Sunwood Drive NW, Unit 100A (Former Anytime Fitness Location at Northstar Marketplace). 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. Time Frame/Observations/Alternatives: Bossman Inc. dba Chanticlear Pizza Anoka has signed a seven-year lease in Northstar Marketplance at 7900 Sunwood Drive NW, Unit 100A. The proposed restaurant use meets the criteria of the Restauarant Sign Awning program. The applicant has received two bids ($20,868.62 and $26,100) for the onsite signage included as attachments to this case. Staff is looking for a recommendation of 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 Bossman Inc. 2) EDA recommendation to City Council to Deny $1,500 in Assistance from the Sign and Awning Program for Bossman Inc 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 $26,100. Bossman Inc. would be responsible for the balance. Recommendation: Staff recommends approving a $1,500 grant from the Sign and Awning Program for Bossman Inc. Outcome/Action: Motion to recommend that the City Council approve a $1,500 grant from the Sign and Awning Program for Bossman Inc. Attachments Site Location Map Signed Application Quality Signs Quote and Graphics Demars Signs Quote