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EDC Minutes April 19,2013 Page 2 of 3 B. Discuss Economic Development Advertising The EDC and City Council discussed advertising at the April 1st Work Session. The Council asked the EDC to discuss it further on April 19tH Regarding the "Twin Cities Business" magazine advertorial opportunity, Commissioner Stevenson said that the City should determine the ad sponsorship amounts for businesses that want to participate in the advertorial. Chair Belting suggested that the City ask a local ad agency for an opinion on how the City should advertise and that perhaps an ad agency could create a broad 5-year marketing plan outline for the City. He added that perhaps someone other than City staff should make the initial inquiry with the ad agency. Ms. Steinmetz reminded the EDC that in 2009, Risdall Advertising created a Public Communications&Marketing Plan for the City as part of the Mounds View Branding Project. Commissioner Freichels asked if businesses are the City's target audience because "Twin Cities Business" and the other local commercial real estate publications might not be the best publications for targeting businesses. He suggested that the future TCAAP development in Arden Hills could be Mounds View's advertising angle because property in Mounds View might be cheaper than property in TCAAP. Commissioner Paron suggested that the City could better utilize the digital billboards on 35W. The EDC tabled the advertising discussion until the next EDC meeting in order to review the 2009 Public Communications & Marketing Plan and to create billboard messaging ideas. C. Review Home Improvement Loan Program The EDC discussed the program and agreed that the intent of the Home Demolition Loan was to cover the entire cost of the home demolition. Motion/Second: Commissioner Freichels moved and Commissioner Helgemoe seconded a recommendation that the EDA increase the Home Demolition Loan amount to $15,000. Motion Carried: 6 Ayes, 0 Nays Motion/Second: Commissioner Freichels moved and Commissioner Paron seconded a recommendation that the EDA decrease the Mounds View Home Improvement Loan Program budget to$100,000 and use the$50,000 towards the revitalization of County Road 10. Motion Carried: 6 Ayes, 0 Nays D. Review Business Improvement Partnership Loan Program The EDC discussed the program and agreed that new Mounds View businesses should be eligible for the loan as long as the business is able to provide the required financial historyto the participating bank.