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ARDEN HILLS CITY COUNCIL WORK SESSION—MAY 19, 2014 5 City Administrator Klaers indicated that based on the past development on TCAAP, the City has about 4,500 SAC credit units available. However, the chances of TCAAP developing to that land use level is remote when looking at the maximum AUAR zoning scenario generating only 3,325 units. He reported that it would be more likely that the site will generate 2,200 SAC credit units. The Council will have to consider how dense it wants to develop the TCAAP site. Mayor Grant discussed the expense for storm water ponding. Ms. Kvilvang explained two ways, developer fees or assessments, that the City could be reimbursed for the storm water ponding expenses. Heather Worthington, Ramsey County Deputy County Manager, provided the Council with a financial presentation that was made to the County Board a week ago regarding TCAAP. She discussed the number of developable acres as being 347. She explained how this number would be broken down between the various uses based on the current Master Plan. Councilmember Holden commented that the bar chart was quite difficult to read. Ms.Worthington apologized and explained the chart in further detail with the Council. Mr. Ruff reported that the County has the most concern with the storm water and mass grading expense at this time. Ms. Worthington discussed the sources available for financing between the City and the County based on the JPA. She reported that the County has not assumed any type of financing. She then reviewed where resources could come from. She reiterated that the proposed numbers were for discussion purposes and were not final numbers. She noted that the more fees that are charged for TCAAP property,the more unattractive the property will become in the market place. Mr. Ruff stated that based on the current model, if the County does not receive $7-8 million in grants, the project will be in deficit. He anticipated that residential land will be at about $4.00 per square foot and commercial land will be at $6.00 per square foot. He explained that the residential land would be sold over six to seven years while commercial property would be sold over the next 15 years. He stated that inflation may or may not happen over that time. Ms. Worthington indicated that the County has been trying to be as conservative as possible when estimating expenditures and revenues. Councilmember Holden hoped that the land value will be higher once the development is up and running. Councilmember Holmes requested clarification on the difference between assessments and fees that will be charged to the land. Mr.Ruff provided the Council with a definition on both of these terms.