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ARDEN HILLS EDA MEETING — April 22, 2024 4 Commissioner Holden stated that generally between two and four brokers market the commercial area in Arden Hills and while limited, they do try to heavily broker this property. She then stated that Bruce Carlson gave one of the first proposals and later said that he would not ever try to do business again with this particular owner. She said the bottom line is there are brokers out there that are very aware of what is for sale in Arden Hills and they also know the vacant commercial properties in the area. Commissioner Rousseau asked if the EDA wanted to revisit this topic once it knows when the lease is UP. President Grant commented there will be a more motivated seller at that time. Commissioner Holden stated the white paper could be updated as it is probably 5 or 6 years old. President Grant indicated the financing options could then be better understood by as the EDA and as a Council. Commissioner Holden asked if there would be anything else done on Lexington Avenue where the retail and commercial businesses would suffer? Public Works Direct/City Engineer Swearingen stated he did not foresee any traffic impacts other than final restoration of the green areas and confirmed that no major construction was planned. Commissioner Holden asked what about Lexington on the north side of 694? Public Works Direct/City Engineer Swearingen stated that area was redone in the late 2000's so should be okay for a while yet. Commissioner Monson asked about the Snelling Avenue/Highway 51 project and was it happening in 2025. Public Works Direct/City Engineer Swearingen stated Highway 51 was planned for 2026. President Grant concluded the discussion and asked for a copy of the white paper, noting that once the Pace lease was up the EDA could revisit the issue. B. Gateway Signs Discussion Community Development Director Jagoe stated this was a topic discussed in 2022 and 2023. She noted that previously 7 locations were identified for potential gateway sign locations and that in 2018 there was a design put together for the Highway 96/Lexington location. She indicated that in 2023, City staff was asked to put together a list of additional locations for Council to consider. She noted information was compiled that included the 7 previously identified locations as well an assessment of new locations using information previously provided by WSB. She said the data also included information about the CIP and the 5-year projection for signs. Community Development Director Jagoe stated City staff was seeking direction from the EDA Commissioners for next steps regarding the future installation of gateway signs. She noted if this was a