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Mounds View EDA September 28, 2009 <br />Regular Meeting Page 3 <br /> <br />camera. <br /> <br />Commissioner Mueller stated support for the Spectrum Sign Systems proposal for a 7.5-foot sign <br />in a dark burnished gold color. Commissioner Gunn concurred. <br /> <br />President Flaherty noted the Other Professional Services budget is a TIF generated fund. <br />Executive Director Ericson indicated that is correct and use of this fund is specified. He <br />explained that the City’s recent branding project qualifies for use of these funds as well as <br />marketing and TIF District improvements. President Flaherty stated if these funds could be used <br />to write down the general fund balance or to balance the levy, he would have an issue with this <br />consideration. Executive Director Ericson said that TIF dollars can only be spent only for <br />specific uses. President Flaherty stated his support for the Spectrum Sign Systems proposal in a <br />gold color. <br /> <br />Vice President Stigney pointed out that TIF funds can be used for trails and roads and since a <br />road reconstruction project is being done, indirectly, money saved here can be used there, <br />resulting in lower taxes to residents. Vice President Stigney asked why quotes were obtained at <br />this time. Economic Development Specialist Steinmetz stated in May, the EDA directed staff to <br />start implementing the City’s new logo. Staff started implementing the logo where it would not <br />cost anything and then staff began obtaining quotes for the most visible signs in the City. She <br />believes it would be a good thing to implement the new logo based on the Council’s decision to <br />adopt a new logo back in April. Vice President Stigney noted the April decision by the Council <br />was to implement the logo where there was no cost; however, this consideration would cost <br />money to implement. <br /> <br />President Flaherty stated his impression the Council had given direction for staff to start <br />implementing the logo and, eventually, this matter would have to be considered. <br /> <br />Commissioner Hull asked what happens to this $1,400 if it is not spent on the wall sign. <br />Executive Director Ericson stated the funds would remain in this budget. <br /> <br />President Flaherty stated his support of the branding process and marketing Mounds View but he <br />did have an issue with spending tax dollars at this time due to the economy. He stated if this <br />fund balance is forwarded to 2010 with no additional money budgeted for this fund, it would be <br />more palatable to consider spending funds on the wall sign. Executive Director Ericson <br />explained at the end of the year, a transfer will be made from TIF Districts to cover expenditures <br />(as needed). So, deferring a purchase to 2010 would not change anything since it is a “paper” <br />budget. <br /> <br />Vice President Stigney stated if approved, he thinks “City of” should be included in the sign, it <br />should be of the same color as the current sign, and three-dimensional without the backer plate. <br />However, he finds this to be an unnecessary expense and bad timing.