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<br />Central Satellite, and to direct staff to negotiate a development agreement with Mundt <br />Legal/North Central Satellite, subject to incentives that are consistent with the City Council <br />guidelines. <br /> <br />Motion carried. Voting Yes: Chairperson Riley, Members LeTourneau, Kiefer, Elvig, and <br />Schindel. Voting No: None. Absent: Members Steffen and Strommen. <br />Member Elvig left the Economic Development Authority meeting at 8:40 a.m. <br /> <br />Case #4: <br /> <br />Consider Monument Sign age for Industrial Parks <br /> <br />Economic Development Coordinator Sullivan reported the EDA has discussed monument signs <br />and possible locations in the past and a determination was made that due to the cost of these <br />types of signs, it might be more prudent to create "City of Ramsey" signs at the City's entry <br />points. He stated that staff was recently approached by Central Minnesota Development <br />Company (CMDC) regarding the construction of monument signs for its industrial parks. He <br />indicated staff has contacted Connexus Energy to see if they would be a willing partner in <br />assisting with the location and lighting of the potential signs. Due to favorable comments from <br />both organizations, staff believes it could now be cost effective to revisit the construction of <br />monument signs for the industrial parks at key entry points, creating a nice finishing touch on the <br />economic development effort in the community. He stated staff is requesting the EDA to <br />provide direction on putting together a cost analysis, identifying partners, and locating key <br />locations for monument signage for the industrial parks. <br /> <br />Economic Development Consultant Mulrooney stated CMDC is a non-profit entity that started in <br />1978 as a local development company to provide financing to businesses that they could not <br />obtain elsewhere. CMDC has grown significantly and has remained true to its focus, which is <br />Anoka County. He stated that staff has had discussions about what the City can do on a joint <br />venture basis to give back to the community and provide long-standing identification of <br />significant efforts by these companies. He noted that a lot of companies have expressed interest <br />in monument signs, both from an aesthetic standpoint as well as providing signage that directs <br />traffic to the industrial parks in the City. <br /> <br />Member Kiefer expressed his support for the monument signage and asked if TIF funds could be <br />used for this. <br /> <br />Economic Development Coordinator Sullivan stated he did not believe monument signs would <br />be an eligible expense under TIF. <br /> <br />Member Kiefer stated that in addition to being a nice fmishing touch for these areas, it also <br />provides a branding of the area. <br /> <br />Economic Development Coordinator Sullivan stated it is not the intention of the monument signs <br />to be an advertisement. He pointed out the areas where the monument signs could be placed, <br />including ABC Energy Park, Sunfish Lake Business Park, Gateway North Industrial Park, and <br />Business Park 95. <br /> <br />Economic Development Authority/October 18, 2007 <br />Page 7 of9 <br /> <br />7 <br />