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i ARDEN HILLS CITY COUNCIL WORK SESSION—MAY 19, 2014 6 Ms. Worthington discussed the projected economic impact, property tax assessments, and estimated job creation from the TCAAP property. She believes that the Thumb could support a large number of jobs,has great access and adequate space for parking. Councilmember Holden questioned how long the Council would allow a developer to hold the land after it is sold. Ms. Worthington stated that the County Board has not made that determination. She explained that previous direction to staff has led her to believe that the Board is interested in seeing the land develop quickly. Councilmember McClung thanked Ms. Worthington for her presentation. He requested further information on the pros and cons of offering incentives. Ms. Worthington stated that the County wants to get this development right and feels it only has one chance to offer incentives; and if incentives are offered early in the project, then all the other land will have to be sold at market rate. Councilmember Holden asked if the City is concerned that redevelopment may start in the Thumb. Public Works Director Maurer commented that the County will complete the spine road all at once and utilities will be designed around this project. This will make the entire site ready for development. Ms. Worthington reported that this project became a lot more feasible after receiving$29 million in bonding from the State for I-35W, County Road 96 and County Road H. This investment is notable in order for TCAAP to move forward. She commented that the County is investigating additional economic development requirements and is drafting a Master Development Agreement that the JDA can use. The County is also reviewing commercial and residential land sales. She noted that park financing will need to be discussed further with the City. Councilmember Holden asked how the County will police the TCAAP site in the early phases of development. Ms. Worthington stated that as of right now, the Sheriff's Office is patrolling the site. During development, she anticipated that the patrols will continue. She suggested that the County and City discuss this matter further to determine who will be financially responsible for these additional patrols. Mayor Grant understood that the numbers presented this evening were estimates and would remain so for some time. He requested that those numbers that can be made firm should be reflected within the financial statements. Councilmember Holden stated that even if the cost for park development is as low as $5 million, the City would have to find alternative ways to fund the parks. She explained that this would