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Mounds View EDA January 14, 2005 <br />Special Meeting Page 2 <br /> <br />aspect of the signs. 46 <br />. 47 <br />Economic Development Director Backman stated that they would also be evaluating the leases. 48 <br /> 49 <br />Commissioner Flaherty asked whether they would also value what Clear Channel would require 50 <br />of the City to get out of the lease. 51 <br /> 52 <br />Economic Development Director Backman stated that they would be looking at a variety of 53 <br />aspects, and that is why they were interacting with Kennedy and Graven as well. 54 <br /> 55 <br />President Marty asked whether the signs were being looked at individually since there was 56 <br />speculation that possibly all the signs would not have to go. 57 <br /> 58 <br />Economic Development Director Backman stated that he had asked for proposals on one, two, 59 <br />and all six billboards. 60 <br /> 61 <br />President Marty asked if the appraisal would look at each sign’s purported value and the cost of 62 <br />the signs themselves. 63 <br /> 64 <br />Economic Development Director Backman stated that it would be both. 65 <br /> 66 <br />Commissioner Stigney asked whether Clear Channel had come out with any figures or whether 67 <br />they were going to. 68 <br /> 69 <br />Economic Development Director Backman stated that he would have to defer to City Attorney 70 <br />Riggs on that issue. 71 <br /> 72 <br />City Attorney Riggs stated that the discussions hadn’t gone that far. He stated that they had 73 <br />information from Clear Channel showing what they had spent on the signs, what they believe the 74 <br />income will be, and what they believe the City will received from the signs, so they had a pretty 75 <br />good baseline. He stated that he assumed that they would do something like that. 76 <br /> 77 <br />Commissioner Stigney asked what the next step would be. 78 <br /> 79 <br />City Attorney Riggs stated it would be to figure out what signs could remain or be relocated so 80 <br />that Clear Channel is still happy, and so the City and the EDA can move forward with the 81 <br />project. 82 <br /> 83 <br />Commissioner Stigney asked whether all the bases were being covered by this appraisal or 84 <br />whether something else would need to be done in the future. 85 <br /> 86 <br />City Attorney Riggs stated that conceivably something could come up, but that this would 87