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Page 6 of 7 • City-owned property sales: City-owned property sales could include the old City Hall property at 1450 Highway 96 and, if a new City Hall was included on the TCAAP civic site, the current City Hall property at 1245 Highway 96. Staff has calculated the City may expect to receive between $2,920,000 and $5,409,800 for both properties. The lower number is a conservative estimate by staff and the higher number is based on Ramsey County’s estimated market value of the properties. In order to determine a more accurate number for marketing the properties, the City would need to hire an appraiser. • SAC fee credits: the Metropolitan Council has determined that the City would be eligible for a certain number of SAC credits for redevelopment on TCAAP based on the previous uses on the property. The SAC credits must be used for redevelopment on the TCAAP property and could be used to help finance the civic site development. Ehlers has estimated that up to $5,566,400 of SAC credits would be available based on current development plans. Funds received through the SAC credits would only become available as development occurs on TCAAP. Alatus has stated that their planned build out is 7 to 10 years. • Corporate donations: the City may wish to approach some of the larger employers in the community to see if there is interest in corporate donations towards the project. Contributions from businesses are typically for specific facilities so that the donation can be acknowledged. For example, the Land O’Lakes Community Room or the Boston Scientific Auditorium. Staff estimates the City may be able to obtain at most $400,000 through corporate donations. • Livable Communities Demonstration Account (LCDA) grant: the project may be eligible for grant funding through the Metropolitan Council’s LCDA program. Staff estimates the most the City could expect to receive from this grant program is $1,000,000. The eligible expense would be the public underground parking. The City would need to enter into an agreement with Alatus for an in-kind donation of funds equal to the grant amount. The total amount from just the property sales and SAC credits could be between $8,486,400 and $10,976,200. Assuming a lower cost development of $12,000,000, an additional $1,023,800 to $3,513,600 would be needed. If the project costs are $16,000,000 the funding gap would be $5,023,800 to $7,513,600. If the City secured corporate donations or grant funding, this would help defray the total cost as well. Another possible funding source would be using a portion of the PIR (Capital) Fund. The table below shows an ending 2016 balance in the PIR Fund of $5,279,277. It should be noted this amount is only budgeted at this time since the City has not completed an audit. Additionally, this balance does not account for future expenditures already included in the Capital Improvements Plan. The City has several other funds that it could use to issue itself a short-term loan for completion of the project.