Finance and Commerce Advertisement with CBRE

The purpose of this case is to review and potentially move forward on an advertising opportunity that has been presented to the EDA.

Recently, Finance and Commerce highlighted an agreement/project between the City of Ramsey and CommonBond. The article is attached for your convenience. Finance and Commerce alerted Ramsey Staff of an upcoming issue (mid-August) pertaining to Transit Oriented Development (TOD). This issue is planned to highlight TOD specific projects and communities throughout the Metro.

Finance and Commerce has suggested taking advantage of a 1/4 page advertisement with a web banner ad. The cost worksheets are attached for both online and print advertisements. This combination is estimated to cost $680. Staff has communicated the opportunity to CBRE. Staff inquired to see if CBRE would be interested in partnering (mutual gain) to place an advertisement. CBRE agreed and is open to dedicating marketing team development time to the project (cost picked up by EDA), should the EDA move forward with the opportunity.

Staff feels this advertising opportunity is reasonable-- both in cost and relevancy to the sale of property as well as The COR being a TOD development. With seasoned marketing staff at CBRE and an issue directly related to The COR development, Staff feels it satisfies not only one of the EDA's work plan priorities but the Council's Strategic Plan as well-- marketing of the community and sale of public land.

Staff recommends the EDA move to support an advertisement through Finance and Commerce. The contents of the ad and level of investment are to be determined via discussion at the EDA meeting. Staff recommends at least a 1/4 page ad with a web banner, as presented by Finance and Commerce. Staff recommends ad content to be developed by CBRE and Ramsey Staff-- feedback is welcome for content.

Motion to support a (insert size/type and cost) advertisement through Finance and Commerce