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ARDEN HILLS CITY COUNCIL — JULY 8, 2024 2 <br />City Administrator Perrault reported this plan was for the spine road, associated utilities and <br />relocation of the TGRS system. <br />Councilmember Holden questioned if the County would be finishing these plans to 100%. <br />City Administrator Perrault explained this was correct. He indicated this was a two-year <br />proj ect. <br />Councilmember Holden inquired if the City's infrastructure work was at 100%. <br />City Administrator Perrault stated the final design for the City utility piece has to be <br />completed. <br />Councilmember Holden asked if the funding for this project was coming out of the City budget <br />or the JDA budget. <br />City Administrator Perrault stated this project would be County funded as there is no <br />cooperative agreement in -place. <br />Councilmember Holden questioned if the County would be issuing temporary bonds to pay for <br />the site cleanup and grading. <br />City Administrator Perrault explained the County was waiting on the temporary bonds until <br />they hear from Bob Lux at Alatus. He stated there was much more of an openness for the County <br />to carry the costs of the first round of infrastructure. <br />Councilmember Holden asked how much would be issued in temporary bonds. <br />City Administrator Perrault estimated this to be $40 million. <br />Councilmember Holden reported if the County bonds for this project, the City would also have <br />to bond for infrastructure improvements. She inquired what the timeline was for this project and <br />who would cover the City if this project did not move forward. <br />City Administrator Perrault stated this still has yet to be finalized. He reported the utilities <br />under the spine road would be paid for through special assessments, WAC and SAC fees. <br />Councilmember Holden expressed concern with the fact these lots may not be sold for some <br />time and the City would need to cover the bond payments. <br />City Administrator Perrault explained if the City moved forward with special assessments, <br />payments would be made by the landowner, which would be either Alatus or the County. He <br />stated he was uncertain if Alatus would be willing to be responsible for these payments. <br />Councilmember Holden requested further information on the $5 million Alatus was willing to <br />put down for site cleanup. <br />City Administrator Perrault stated there was no agreement in writing, but noted Alatus has <br />proposed to put $5 million in a holding account with the County. He indicated this would be the <br />