WS 04-06-2010 (2) - Laserfiche WebLink

Home Browse Search

Work Session Memo April 2, 2010 • Page 3 Our goal is to get feedback on these names. Does something standout from among the rest? Is more work required? How should we solicit public input? Ideally, it would be nice to have consensus on a theme so that in the coming months so that staff can focus our attention on marketing activities. We should point out that the EDC reviewed the marketing ideas in February. The details of the straw poll can be shared at the work session. Other Topics The policy work plan also identified Transoma and billboards additional topics of discussion. Here's what we can report on these matters: Transoma Last fall Transoma Medical, Inc. ceased operations as a company. Data Sciences International (DSI) which owned Transoma, continues to operate in the building at about 2/3 occupancy. Also, in the last couple of months Ryan Companies, which developed the project under the name New Brighton 14th Street LLC, has notified the City that it intends to sell the property to a Manitoba, Canada investor. • As part of the sale, both Ryan and DSI have indicated they no longer want the option to purchase Block D. In fact, the parties have requested an early termination of the option right, which would have expired on September 30th. The City has been asked to enter into a termination agreement with Ryan. This will be scheduled for consideration on April 13th 1-35W Billboard Under the terms and conditions of the City's 2007 redevelopment contract with Ryan Companies (i.e. Transoma), the City was required to remove a billboard near 1-35W by September 30, 2008. The billboard was constructed in the 1960's on railroad right-of- way and is owned by Clear Channel, Inc. Clear Channel leases the billboard to CBS Outdoors for advertising purposes. During the negotiations to acquire the Butcher's Spur, the railroad (MT Properties) inquired about the possibility of keeping the billboard until the land was needed by Transoma. Staff explained that the City was contractually obligated to remove the billboard, but agreed to request an extension. After discussions with Ryan Companies, an extension was granted until September 30, 2009. To formalize the arrangement, in January 2009 the City entered into a License Agreement with MT Properties that allowed the railroad to continue collecting $1,115 per month in rent. At the end of the license period, MT Properties was to terminate the lease and cause the removal of the billboard. In early June 2009, staff was contacted