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Mounds View EDA January 14, 2005 <br />Special Meeting Page 2 <br />aspect of the signs. <br />Economic Development Director Backman stated that they would also be evaluating the leases. <br />Commissioner Flaherty asked whether they would also value what Clear Channel would require <br />of the City to get out of the lease. <br />Economic Development Director Backman stated that they would be looking at a variety of <br />aspects, and that is why they were interacting with Kennedy and Graven as well. <br />President Marty asked whether the signs were being looked at individually since there was <br />speculation that possibly all the signs would not have to go. <br />Economic Development Director Backman stated that he had asked for proposals on one, two, <br />and all six billboards. <br />President Marty asked if the appraisal would look at each sign's purported value and the cost of <br />the signs themselves. <br />Economic Development Director Backman stated that it would be both. <br />Vice President Stigney asked whether Clear Channel had come out with any figures or whether <br />they were going to. <br />Economic Development Director Backman stated that he would have to defer to City Attorney <br />Riggs on that issue. <br />City Attorney Riggs stated that the discussions hadn't gone that far. He stated that they had <br />information from Clear Channel showing what they had spent on the signs, what they believe the <br />income will be, and what they believe the City will received from the signs, so they had a pretty <br />good baseline. He stated that he assumed that they would do something like that. <br />Vice President Stigney asked what the next step would be. <br />City Attorney Riggs stated it would be to figure out what signs could remain or be relocated so <br />that Clear Channel is still happy, and so the City and the EDA can move forward with the <br />project. <br />Vice President Stigney asked whether all the bases were being covered by this appraisal or <br />whether something else would need to be done in the future. <br />City Attorney Riggs stated that conceivably something could come up, but that this would <br />