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2021-11-17 EDA Packet
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2021-11-17 EDA Packet
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11/16/2021 7:01:00 AM
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November 12, 2021 <br />\[Name\] <br />\[Address\] <br />Centerville, MN 55038 <br />Also sent via email to: \[email address\] <br />Dear Blue Logo Sign Participant: <br />This letter is being sent to all participants in the CityÓs Economic Development Authority <br />(EDA) Blue Logo Sign Program. The initial year of the program pledged 75% of the <br />costs associated with getting your logo on the Blue Signs on the Interstate. Those costs <br />included production and installation of the sign, as well as a yearÓs rent for your space on <br />the sign. The one-year rent began when the signs were actually installed (May 2021). <br />However, the company running the program for the state, works on a January 1 Î <br />December 31 billing cycle. So, even though some of you paid a full yearÓs worth of rent, <br />you were sent a renewal notice, recently, which is due before the end of the year. If this <br />is the case for you, you should have been sent a refund from the company, or the <br />company held your initial check, returned it and asked for a new one with the pro-rated <br />amount. Long story short, is that the company appears to have properly charged you for <br />the prorated portion of 2021 (8 months). However, in all of your cases, the city paid you <br />75% of the rental costs for 2021 based on the full yearÓs amount. <br /> <br />The EDA is still committed to paying 75% of your rental costs for a full year. Therefore, <br />there is no need to return any portion of the cityÓs initial payment to you. <br /> <br />Recently, the EDA renewed its investment in this program, with some modifications. A <br />commitment was made to have the program run for an additional 3 years, with a city cost <br />share of 50% for returning participants. <br /> <br />Therefore, if you send in your renewal check to Minnesota Logos, please send us a copy <br />as well. We will then participate in 50% of the costs for the remainder of 2022Ós rent (8 <br /> <br />
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