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ARDEN HILLS CITY COUNCIL WORK SESSION — APRIL 8, 2024 Councilmember Holden stated there were 44 food trucks in 2023. Councilmember Monson indicated this was true but noted only a few of the food trucks were hosted at a residential property and the remainder were food truck that were hosted by commercial properties. Councilmember Holden reported she could support doing away with permitting, licensing and/or registering residential food trucks in the City. Council consensus was to recommend the City not license or register residential food trucks in Arden Hills and that only Ramsey County Health licenses be required. C. Lake Johanna Fire Department Discussion City Administrator Perrault stated for the past few years, the Lake Johanna Fire Department (LJFD) has been in discussions with its three cities, Arden Hills, North Oaks, and Shoreview, on a new fire station. This project was the result of a needs study done in 2018. The study identified a piece of property on Pine Tree Drive in Arden Hills as the ideal location. Since the study, the department and the cities have acquired the land and completed the design of the station. The department and cities also worked cooperatively to receive $6.6 million in State funding for the station construction. The board is recommending the station be constructed in 2025, and next steps are to figure out how to finance the station. Early estimates of the station in 2018 put the cost around $13 million, today the cost is estimated to be between $20 million and $25 million in total. Currently, Arden Hills' share of expenses for LJFD are approximately 25 percent; the City's share of the project would be the total, less State funding, and we would be responsible for 25 percent of the costs. For example, if the station were to cost $23 million, the cities would be responsible for $16.4 million and the AH share would be $4.1 million. City Administrator Perrault reported in order to unlock the State money, the cities need to decide and have secured their share of the project. It is anticipated that bonding will be needed for the project, and the question remains how will those bonds be structured i.e. one city bonding for the entire project and the other cities agreeing to pay that city their portion of the debt service or each city individually bonding for their share. The advantage of having one city bond for the project is it would lower initial issuance cost of the bonds, the cities could take advantage of a low interest rate (Arden Hills and Shoreview are both AAA rated), and it would streamline the debt service payment coming from one City for the bonding versus three. The City Attorney has looked at how an agreement could be drafted to facilitate one City doing the bonding, she believes the agreement is relatively simple and is comfortable with the process. This term sheet assumes Arden Hills would be the City providing the bonding. City Administrator Perrault explained the question being posed to the City Council this evening is if it would entertain bonding for the project and having an agreement with the other cities to pay us their portion of the debt service annually. Tonight is not committing the City to this financing method, but if the City is willing to consider it, the Council Liaison and Staff will report back to the board for future funding discussions. It should also be noted that Shoreview has proposed, and Staff would recommend, using a phased debt service option for the station, which would have lower payments at the beginning and slightly higher payments later on. This would result in approximately $125,000 more from Arden Hills over the 20-year life of the bond. Staff