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ARDEN HILLS SPECIAL CITY COUNCIL WORK SESSION — DECEMBER 12, 2022 2 Councilmember Holden questioned how the increased cost of this project would impact the City's ability to complete other projects. City Administrator Perrault discussed the amount of funding that would be provided to the City through MSA funding through 2032 noting all of this funding was accounted for. He explained in 2033, the City would have a positive MSA balance going forward. Councilmember Holmes asked what that positive balance would be in 2033. City Administrator Perrault stated this balance would be approximately $310,000 less the $35,550 still due the City. Finance Director Bauman reported the only project that was not included in the MSA projections was the Mounds View High School trail. She commented further on how an advance in 2024 would impact the PIR Fund. Further discussion ensued regarding the MSA street improvement projects that were planned for 2023 through 2033. Councilmember Holden stated if the roundabout was not completed, the City would have approximately $1 million in additional MSA funds available for projects. Finance Director Bauman reported the City would have money building in the MSA fund by 2028. Councilmember Radziej asked if it was better for the City to use money on hand or to bond for these projects. City Administrator Perrault stated if the City Council were to pay cash, the City would not have to pay interest on the project and the City was not assuming debt. However, if the project were to be bonded, it is paid for over time by the residents actually using the roundabout. Finance Director Bauman reported bonding would allow MSA funds to accrue and these MSA dollars could be used to assist with paying back the bonds issued for the project. Councilmember Holden indicated there was not a lot of traffic at this intersection and questioned if this was really necessary at this location. Public Works Director/City Engineer Swearingen explained this was why two different ICE studies were completed and both pointed towards having a roundabout versus keeping this a four stop intersection. He indicated 20 years from now, projections show that this intersection would be better served by a roundabout. Councilmember Holden questioned why the trail was not included in this project. Public Works Director/City Engineer Swearingen reported the proposed design does set up for future construction on Lake Johanna Boulevard.