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Ms. Bak stated that proper environmental, sustainability, infrastructure, and technological <br />elements should be built into the neighborhoods as this would raise the overall value. <br />Mr. Lux described how Alatus would approach taking the land down. He stated the land take <br />down schedule would be determined through the development contract in the first three <br />months and would be based on the findings of the market study. He did not believe public <br />assistance/TIF would be needed in order for the single family or multi -family housing to be <br />successful. <br />Mr. Carlson explained that retailers were similar to single family housing and would not require <br />assistance. These users could afford to buy land at market rates and pay their associated <br />assessments. He was not certain if this would be the case for commercial and office users. He <br />believed the timing for this development was perfect and discussed several corporate <br />campuses that were looking to expand in the metro area. He would work to best package this <br />development to make it competitive. <br />Mr. Lux discussed Alatus' access to capital noting he would be bringing in institutional capital <br />that understands the development. He indicated he would have $850 million in equity <br />available. <br />Commissioner Holden feared Arden Hills would be broken into two cities after this project was <br />completed. She wanted TCAAP to be a part of Arden Hills and asked how Alatus would address <br />this concern. <br />Mr. Lux was aware of this concern and understood the City did not want TCAAP to be an island <br />unto itself. He believed his ability to be inclusive and listen to the needs of the community <br />assist in addressing this problem. <br />Ms. Bak stated this was a concern with the Glenview redevelopment as well. She explained <br />how the community assisted in the redevelopment of this site, noting a school was placed in <br />the center along with a number of parks, which drew the community to the site. She believed <br />the town center would serve as a draw for Arden Hills. She discussed how it would be <br />important to keep the community informed on the development and what was coming to the <br />area. <br />Mr. Shaver indicated the City has done a great job recognizing this site as being part of Arden <br />Hills. This would have to continue through the TCAAP redevelopment. <br />Commissioner Ortega questioned how corporate users would be attracted to the site. <br />Mr. Shaver stated the amenity package that would be programmed into the site would assist in <br />attracting corporate users. Also, the City and County would create a sense of place that would <br />assist in identifying Arden Hills as being a great location for corporate headquarters. Further <br />discussion ensued regarding the success of Twin Lakes. <br />