Agenda - Economic Development Authority - 04/10/2025

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4. 2. Economic Development Authority (EDA) Meeting Date: 04/10/2025 Primary Strategic Plan Initiative: Promote economic growth and development. Title: Consider Recommendation to Approve King Baguette, 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, the Kitchen Table, Alison's Petite Pastries, Miss Iz Ice Cream and Chanticlear Pizza have been granted funds from the Sign and Awning Program. The $1,500 check is issued to the applicant after completion of the project and Staff photos. Staff has been working with King Baguette, Inc. this year to open up a new restaurant with drive-thru at 7912 Sunwood Drive NW, Unit 100 at Northstar Marketplace. The City Council approved the SAC and WAC loan for $13,881 for this project on March 25, 2025. Staff is supportive of this request 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: King Baguette, Inc. has signed a ten-year lease in Northstar Marketplance at 7912 Sunwood Drive NW, Unit 100. The proposed restaurant use meets the criteria of the Restaurant Sign Awning program. The applicant has received two bids ($10,975 and $10,096) for the onsite signage included as attachments to this case. King Baguette is going to go with Quality Sign Solutions as they will also be doing the work for their Drive Thru Ordering Kiosk, 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 King Baguette, Inc. 2) EDA recommendation to City Council to Deny $1,500 in Assistance from the Sign and Awning Program for King Baguette, 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 $11,950 and King Baguette would be responsible for the balance. Recommendation: Staff recommends approving a $1,500 grant from the Sign and Awning Program for King Baguette, Inc. Outcome/Action: Motion to recommend that the City Council approve a $1,500 grant from the Sign and Awning Program for King Baguette, Inc.