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ARDEN HILLS CITY COUNCIL WORK SESSION—AUGUST 19, 2013 7 Mayor Grant indicated that the Council may need additional time to process the possibility of Bethel taking over the Country Financial property. He questioned Bethel's timeline on this project and what additional feedback Bethel needed from the City. Ms. Nelson commented that she was looking for reasonable assurances that Bethel would be able to use the entire site if the building were to be purchased. She understood that Bethel did not have a fully developed master plan in place, but would still be seeking a conditional use permit beyond the previously approved 26,000 square feet. She reported that Bethel was hoping to close on the property by December 15, 2013. Mayor Grant stated that transportation and public safety are very important to the City. These issues would have to be considered further by Bethel. Ms. Nelson explained that Bethel would complete further modeling on the Country Financial site. Mr. Barnes excused himself from the meeting, as he had another function to speak at. He thanked the Council for hearing and considering Bethel's request. a Mayor Grant commented that the Council would continue to think through this proposition while keeping in mind the plans put in place for the B2 district. City Administrator Klaers anticipated that the City would have a CUP application in early September, which would go before the Planning Commission in early October. He indicated that additional Council discussion would take place at the work session meeting in September. Ms. Nelson thanked the Council for the feedback provided this evening. Bob Revoir, Cushman & Wakefield the broker for Country Financial, discussed the value of the Country Financial property stating the site had dropped from $16 million to $6.25 million; and negotiations with Bethel were even less. He expected the site to sell for well below the property's value. He stated that he has leased this space for Country Financial for years and has been struggling to find a buyer. Further discussion ensued regarding the Country Financial building sale. Mayor Grant thanked Mr. Revoir for this information. D. Gateway Signs Mayor Grant explained that the first Gateway sign has been completed, and he has received a great deal of positive feedback. He indicated that the Council planned to complete two additional gateway signs in 2013. He recommended that the Pantone color of the green used on future signs be consistent. He questioned how the Council wanted to move forward with these signs. Councilmember Holmes was in favor of keeping the gateway signs similar.