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Ms. Frolik felt it would be a good idea to meet with the businesses. Maybe there is not even a <br />demand for this type of sign. Maybe trying to pin down a price is premature. <br /> <br />Mr. Wagner stated it sounds like they want a sign to promote their business. This sign may not <br />meet their criteria. <br /> <br />Ms. Frolik felt they may be looking for a more bold sign than this. They do not want their sign on <br />an index that gets lost in a group. <br /> <br />Mayor Hardin suggested they could buy two slots. <br /> <br />Ms. Frolik reiterated that we should find out the interest level. <br /> <br />Mayor Hardin pointed out that maybe the question should be "are we interested in participating?" <br /> <br />Councilmember Beahen asked how the revolving loan fund works. <br /> <br />Mr. Schroeder explained that the City has two pots of money that could fund this sign entirely. <br />One is the Economic Development account which contains $250,000. This money is to be used to <br />provide business incentives for businesses not available for TIF. The second is the loan program <br />created so if a business needs machinery, etc., they could apply for a low interest loan. He did not <br />know if the SuperBowl is in the TIF District. <br /> <br />Councilmember Peterson stated that maybe in the beginning, there might be three or four people <br />signing up and we would have room for eight to ten with the idea that we would have future <br />businesses coming in. Not filling it immediately would not be reason not to build it. <br /> <br />Mr. Schroeder thought that the City may rather lease space than sell space as it would be easier to <br />set the standards for the sign. <br /> <br />Councilmember Beyer felt it makes sense to lease and not sell sign space. She suggested if the <br />City is going to dictate the type of sign it should be, the City should also have control of the sign. <br /> <br />Councilmember Peterson suggested checking with the industrial area to see if they are interested. <br />Maybe this will work for the SuperBowl but it may not work for someone else. <br /> <br />Mayor Hardin stated it would have to be something for all businesses in the area. The City cannot <br />really dictate the sign. <br /> <br />Mr. Schroeder added, unless we own the sign. <br /> <br />Mayor Hardin hoped we could get some participation along Highway #10. He did not know why <br />the City would want to be long-term sign owners. <br /> <br />Councilmember Beyer stated that maybe we should let the businesses get together to facilitate the <br />type of sign. <br /> <br />Mr. Schroeder was under the impression the City would own the sign and sell or lease space. If <br />the sign is not owned by the City, how can we go to a business and ask them to put up a sign <br />unless we come up with a similar amount of cash. <br /> <br />Mayor Hardin did not feel the intent is to dictate the sign. He felt it would be handled better in the <br />private sector. He asked that the Zoning Administrator contact the cities of Plymouth and Maple <br />Grove to see what they do. <br /> <br />City Council/October 1, 1996 <br /> Page 3 of $ <br /> <br /> <br />