2004-10-13 WW & CC Meeting - Laserfiche WebLink

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Me11lo. · · TO: Honorable Mayor and Council Members FROM: Kim Stephan Jj SUBJECT: Economic Development Committee Recommendations DATE: October 5,2004 The Economic Development Committee made the following recommendation for City Council consideration at their September 15, 2004 Committee Meeting. Chairperson Burke will be in attendance at the October 13, 2004 City Council Meeting to explain the idea of Cougar Cash and answer questions. Centerville COUl!:ar Cash Chairperson Burke updated the committee on the status of Cougar Cash. Mainstreet Bank will provide a free account and a safe deposit box to store the checks in. The committee's cost will be the initial setup of the program. There will be very little expense with the management of the program. Chairperson Burke suggested printing 1,500 certificates in different denominations. When reprinting becomes necessary the costs will be minimal as the art work will have already been done. The committee discussed how Cougar Cash will be promoted and the need for expiration dates. The expiration date will not be printed on the checks, but will be filled in as purchased with one (1) year from the date ofissue. Chairperson Burke obtained a quote from the individual who designed and printed the poster for Frozen Fete des Lacs 2004 for $1,800 to design and print the Cougar Cash Certificates. The design cost was minimal, but the printing is expensive as since 9/1 I all checks now need to be printed with magnetic ink. Chairperson Burke will also obtain another estimate and present information at the October 13, 2004 City Council Meeting. Motion was made by Chairperson Burke, seconded by Committee Member Ebel to recommend to City Council the expenditure of funds not to exceed $1,800 to have the artwork for Cougar Cash designed and 1,500 certificates in different denominations printed. All in favor. Motion passed unanimously.