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Friday, October 12, 2018 2 of 3 public-private partnership, the parties additional shared goals remain to maximize benefits to the area and greater region through creation of jobs, housing, and sustainable development. Through finalization of the Master Development Agreement (MDA) (and corresponding Cooperative Agreement between the City and County), Master Developer will ultimately be responsible for executing on the vision and to assist and inform the City and County and their consultants in the implementation and delivery of this shared vision. Current Status of MDA: The parties together are working in good faith with the shared goals to accomplish the following; 1. Create an extraordinary one-of a kind landmark development 2. Create a project that is accretive to the City of Arden Hills, Ramsey County and State of MN 3. Limit the potential exposure to existing residents of Arden Hills from the any financial burden associated with this project and produce a financially “net neutral” deal for the City 4. Remain consistent with the vision of the Master Plan TRC Open Issues List – to be Resolved to Finalize MDA: Below are the primary outstanding issues that need to be resolved in order to finalize the MDA. The following solutions proposed are one potential path to resolution and may not be the only solution: 1. The Project does not support the burden of a Met Council SAC equivalent fee, and the City desires to see a civic/community center on the site. a. Potential solution: in lieu of charging those fees, the Master Developer (or one of its development partners) will build a civic/community center at no charge to the City as long as the City creates a TIF district sized in the appropriate amount to reimburse the development team for other TIF-eligible costs equivalent to the value of constructing a civic/community center. (City and School District portion of Tax Increment) 2. The City has incurred and has budgeted planning area expenses in the amount of approximately $1.1mm which includes both city staff labor and 3rd party expenses associated with the project. a. Potential solution: a fee structure can be imposed on vertical developers as each parcel is developed to reimburse the City for their 3rd party planning area costs in the amount of approximately $800k in accordance with the JPA agreement. 3. County’s need for additional density on the site to satisfy their long-term planning goals. a. Potential solution: City would grant Master Developer the potential for an additional 161 units of Owner-Occupied homes to be distributed throughout the property as the development is built over the next 15 years.