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08-12-24-R
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08-12-24-R
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ARDEN HILLS CITY COUNCIL—AUGUST 12, 2024 3 <br /> years ago, but this didn't happen. She asked when the City began looking at the neighborhood <br /> infrastructure funding and when will the Council better understand this matter. <br /> Councilmember Holden stated she had so many questions and she did not have answers to these <br /> questions. She expressed concern with the fact the City would be put at financial risk through the <br /> TCAAP project. She indicated a resident spoke about the community land trust and how <br /> mortgages are done through the community land trust. She hoped that this project would not back <br /> away from providing affordable housing through this development. <br /> Councilmember Monson explained she did not have knowledge regarding the $1,000,000 that <br /> was borrowed from the general fund and she could not speak to this matter. She stated she agreed <br /> the proforma was a City function, but the project was not there yet. She indicated the project was <br /> working towards horizontal grading and infrastructure and then further discussions could be held. <br /> She reported the proforma would be brought back once there were updates. <br /> Councilmember Monson reported nothing has been decided behind closed doors. She indicated <br /> all discussions have been done out in the public and there were no promises that have been made <br /> that the City Council does not know about. <br /> Councilmember Monson explained the cost for a geothermal system would have additional <br /> costs. She stated decisions were still being made regarding the tradeoffs between a geothermal <br /> system versus natural gas. She believed there were grant funds available to assist with the cost for <br /> a geothermal system, which would greatly assist with moving this development forward in a <br /> sustainable manner. <br /> Councilmember Monson commented she agreed with Councilmember Holden and hoped that <br /> this development would have more than 10 affordable homes. She stated the project was working <br /> to have as much affordable housing as possible and noted she had not heard any objection from <br /> the developer or the County on this matter. She anticipated the amount of affordable housing on <br /> the site would depend on the funding that was available from the County, State and federal <br /> government. <br /> Councilmember Monson explained the County and developer were discussing a land purchase <br /> agreement. She reported the risk tolerance across all three parties, but in the end, the agreement <br /> would be between the land owner and the developer. She stated the City's role in this was TBD. <br /> Councilmember Monson agreed the City's special assessments bonds need to have a solution. <br /> She stated if this deal were to move forward, the land would be owned by the developer versus <br /> the County. <br /> Councilmember Monson indicated the JDA has not discussed a civic space to date. She <br /> explained she had not reviewed the RFP for the spine road and she was uncertain what the <br /> reference to "Save Arden Hills"was. <br /> Councilmember Monson reported the County would be covering the cost to move the well <br /> system. She stated Building 116 still has to be addressed. <br /> Councilmember Monson explained the developer would be requesting TIF, but she did not have <br /> an understanding as to what the ask would be. <br />
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