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ARDEN HILLS CITY COUNCIL – JULY 14, 2014 3 <br /> <br />of the City’s governmental funds and investment earnings. Tax capacity rates were reviewed <br />along with the general fund financial position. He commended the City for its financial standing <br />and asked for comments or questions from the Council. <br /> <br />Councilmember Holden asked what the City’s current fund balance was and questioned if this <br />impacted the City’s bond rating. <br /> <br />Mr. Nielson explained that the City had a 50% fund balance policy in place. He described how <br />the City’s bond rating was impacted by its fund balance policy. <br /> <br />Councilmember Holmes expressed concern with the County’s tax level and discussed how this <br />impacted the City’s overall tax rate. She noted that Ramsey County had a much higher tax rate <br />than any other County in the metro area. She asked if the market value of the homes in Arden <br />Hills was going up or down. <br /> <br />Director of Finance and Administrative Services Iverson reported that the value of homes in <br />Arden Hills was on the rise in 2014. She commented that the numbers being reviewed this <br />evening were from 2013. <br /> <br />Councilmember Holden questioned when the City’s FTE’s increased. <br /> <br />Director of Finance and Administrative Services Iverson reported that the City’s FTE’s was <br />increased for engineering services from 2011 to 2012. <br /> <br />Mayor Grant thanked Mr. Nielson for his report. <br /> <br />4. STAFF COMMENTS <br /> <br />A. TCAAP Update <br /> <br />City Administrator Klaers stated that following the approval of the master plan land use map on <br />June 30, 2014, staff and consultants are scheduling work for the regulations and policies <br />component of the master planning process. A City Council workshop with Gateway Planning has <br />been scheduled for August 18, 2014, and a detailed framework of the draft TCAAP zoning will be <br />provided to the City Council prior to the workshop. The Planning Commission and TCAAP Joint <br />Development Authority have been notified of the workshop and invited to attend. <br /> <br />City Administrator Klaers stated that special and regular City Council work sessions have been <br />scheduled to discuss issues related to the Master Plan and City infrastructure. Discussion topics <br />are tentatively planned as follows: <br /> <br />July 28, 2014, Regular Meeting at 7:00 pm, Council Chambers <br /> Consider approval of Final AUAR and Mitigation Plan <br /> <br />August 11, 2014, Special Work Session at 5:30 pm, Community Room <br /> Water and Sewer System Review (Infrastructure) <br /> Density/Maximum Residential Unit Discussion