5.15.
| CC Regular Session |
| Meeting Date: | 01/09/2024 |
| Primary Strategic Plan Initiative: | {ud_pd8} |
Information
Title:
Adopt Resolution #24-011 Approving EDA Funding for Replacement of Entrance Monument at TH #47 and Bunker Lake Boulevard NW
Purpose/Background:
The purpose of this case is to consider authorizing the Economic Development Authority funding for the replacement of the monument sign on Hwy 47 and Bunker Lake Blvd, consistent with the EDA's recommendation at the December 14, 2023 meeting, and the Public Works Committee Meeting from October 17, 2023.
Around the late 1990's, the city placed an entrance monument at the NW intersection of Bunker Lake Boulevard and St. Francis Boulevard. Several years ago, an automobile crash destroyed this same sign. The entrance sign to the city was not replaced, due to the substantial road construction taking place at this intersection, which has now been completed. An RFP was issued to three area sign manufacturing companies but only one quote was received from Signation Sign Group for $23,643, which is consistent with the EDA's and Public Works Committee's recommendation to City Council to approve the project at a not-to-exceed amount of $26,000, (which would include shrub plantings/landscaping and utilizing $4,500 in Insurance Money). It should be noted that the EDA funded this sign when it was originally installed.
Around the late 1990's, the city placed an entrance monument at the NW intersection of Bunker Lake Boulevard and St. Francis Boulevard. Several years ago, an automobile crash destroyed this same sign. The entrance sign to the city was not replaced, due to the substantial road construction taking place at this intersection, which has now been completed. An RFP was issued to three area sign manufacturing companies but only one quote was received from Signation Sign Group for $23,643, which is consistent with the EDA's and Public Works Committee's recommendation to City Council to approve the project at a not-to-exceed amount of $26,000, (which would include shrub plantings/landscaping and utilizing $4,500 in Insurance Money). It should be noted that the EDA funded this sign when it was originally installed.
Notification:
None required
Time Frame/Observations/Alternatives:
The placement of the entrance monument would occur in February or March after fabrication, with the shrub plantings occurring as soon as the frost is out in the Spring of 2024. The City has received $4,500 from the insurance claim for the sign damage which is available for the replacement project and is recommended by Finance Director Lund. The EDA recommended the balance of the funding of $21,500 from the EDA Unencumbered Fund Balance which was approved at the December 14, 2023 EDA meeting. It should be noted that the sign cost is $23,643 which will leave approximately $2,357 for landscaping to enhance the sign and location based on the recommended approval of an amount not to exceed $26,000.
Alternatives include:
1) Adoption of Resolution #24-011 Awarding bid to Signation Sign Group for $23,643 and allocating $21,500 from the EDA Unencumbered Fund Balance and Spending $4,500 from insurance money (Staff Recommendation)
2) Adoption of Resolution #24-011 Awarding bid to Signation Sign Group for $23,643 and allocating $(Insert Amount) from the EDA (Insert Funding Source) and Spending $4,500 from insurance money
3) Something Else
Alternatives include:
1) Adoption of Resolution #24-011 Awarding bid to Signation Sign Group for $23,643 and allocating $21,500 from the EDA Unencumbered Fund Balance and Spending $4,500 from insurance money (Staff Recommendation)
2) Adoption of Resolution #24-011 Awarding bid to Signation Sign Group for $23,643 and allocating $(Insert Amount) from the EDA (Insert Funding Source) and Spending $4,500 from insurance money
3) Something Else
Funding Source:
Funding for the project consists of the following:
$21,500 from the Unencumbered EDA Fund Balance
and
Insurance Money of $4,500 totaling $26,000
$21,500 from the Unencumbered EDA Fund Balance
and
Insurance Money of $4,500 totaling $26,000
Recommendation:
The EDA, Public Works Committee, and Staff support the replacement of the entrance monument sign to support community branding in a very visible City entry point, at a cost not-to-exceed amount of $26,000 and to select Signation Sign Group.
Draft Minutes from the December 14, 2023 EDA meeting are attached and the motion approved 6-1 by the EDA is below:
Motion by Member Johnson, seconded by Member Howell, to allocate up to $21,500 from the EDA Unencumbered Fund Balance for the construction of a monument sign at the NW corner of Highway 47 and Bunker Lake Boulevard NW. (Note that the $4,500 in insurance money already received would be allocated in addition to the $21,500)
Draft Minutes from the December 14, 2023 EDA meeting are attached and the motion approved 6-1 by the EDA is below:
Motion by Member Johnson, seconded by Member Howell, to allocate up to $21,500 from the EDA Unencumbered Fund Balance for the construction of a monument sign at the NW corner of Highway 47 and Bunker Lake Boulevard NW. (Note that the $4,500 in insurance money already received would be allocated in addition to the $21,500)
Outcome/Action:
Motion to adopt Resolution #24-011 Approving EDA Funding for Replacement of Entrance Monument at TH #47 and Bunker Lake Boulevard NW; as presented (Staff Recommendation)
Attachments
- ACTION - Resolution #24-011
- Sign Location and Design
- Quote for Monument Sign
- RFP for Monument sign Quote
- PW Meeting Minutes - Excerpt 10.17.23
- Proposed 2024 EDA Budget
- DRAFT EDA Minutes 12.14.23
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Sean Sullivan | Sean Sullivan | 12/19/2023 02:24 PM |
| Brian Hagen | Brian Hagen | 01/04/2024 10:08 AM |
- Form Started By:
- Mark Riverblood
- Started On:
- 12/15/2023 01:14 PM
- Final Approval Date:
- 01/04/2024