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ARDEN HILLS CITY COUNCIL—JULY 14, 2014 3 <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 /> Councilmember Holden asked what the City's current fund balance was and questioned if this <br /> impacted the City's bond rating. <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 /> 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 /> 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 /> Councilmember Holden questioned when the City's FTE's increased. <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 /> Mayor Grant thanked Mr. Nielson for his report. <br /> 4. STAFF COMMENTS <br /> A. TCAAP Update <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 /> 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 /> July 28, 2014, Regular Meeting at 7:00 pm, Council Chambers <br /> • Consider approval of Final AUAR and Mitigation Plan <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 <br />