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ARDEN HILLS CITY COUNCIL WORK SESSION MAY 19, 20146 <br /> <br />Ms. Worthington <br />discussed the projected economic impact, property tax assessments, and <br />estimated job creation from the TCAAP property. She believes that the Thumb could support a <br />large number of jobs, has great access and adequate space for parking. <br /> <br />Councilmember Holden <br /> questioned how long the Council would allow a developer to hold the <br />land after it is sold. <br /> <br />Ms. Worthington <br /> stated that the County Board has not made that determination. She explained <br />that previous direction to staff has led her to believe that the Board is interested in seeing the land <br />develop quickly. <br /> <br />Councilmember McClung <br /> thanked Ms. Worthington for her presentation. He requested further <br />information on the pros and cons of offering incentives. <br /> <br />Ms. Worthington <br /> stated that the County wants to get this development right and feels it only has <br />one chance to offer incentives; and if incentives are offered early in the project, then all the other <br />land will have to be sold at market rate. <br /> <br />Councilmember Holden <br /> asked if the City is concerned that redevelopment may start in the <br />Thumb. <br /> <br />Public Works Director Maurer <br /> commented that the County will complete the spine road all at <br />once and utilities will be designed around this project. This will make the entire site ready for <br />development. <br /> <br />Ms. Worthington <br /> reported that this project became a lot more feasible after receiving $29 <br />million in bonding from the State for I-35W, County Road 96 and County Road H. This <br />investment is notable in order for TCAAP to move forward. She commented that the County is <br />investigating additional economic development requirements and is drafting a Master <br />Development Agreement that the JDA can use. The County is also reviewing commercial and <br />residential land sales. She noted that park financing will need to be discussed further with the <br />City. <br /> <br />Councilmember Holden <br />asked how the County will police the TCAAP site in the early phases <br />of development. <br /> <br />Ms. Worthington <br /> stated that as of right now, the Sheriff is patrolling the site. During <br />development, she anticipated that the patrols will continue. She suggested that the County and <br />City discuss this matter further to determine who will be financially responsible for these <br />additional patrols. <br /> <br />Mayor Grant <br />understood that the numbers presented this evening were estimates and would <br />remain so for some time. He requested that those numbers that can be made firm should be <br />reflected within the financial statements. <br /> <br />Councilmember Holden <br /> stated that even if the cost for park development is as low as $5 <br />million, the City would have to find alternative ways to fund the parks. She explained that this <br />