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ARDEN HILLS CITY COUNCIL SPECIAL WORK SESSION — OCTOBER 15, 2024 12 Mayor Grant directed to have Bob Lux redline the Term Sheet with the understanding that Council hasn't taken any position on any of it. He asked how TIF was reflected on the spreadsheet. Stacie Kvilvang said TIF is reflected over 15 years, which is a lesser amount. The change is due to changes in rates, values and a higher interest rate. Mayor Grant asked if there was ever discussion of $10 million worth of TIF. Stacie Kvilvang said that was mentioned in the original negotiations. Councilmember Rousseau said the work session was supposed to be an hour. She said since there are three weeks before all councilmembers can meet, she supports sending the term sheet to Bob Lux and have the JDA reps start meeting with him and begin negotiations. Then meet on the 7th for a Special Work Session. Mayor Grant thought it should come back to Council for input. Councilmember Rousseau thinks that something will come up again and again and again. Scheduling meetings has been an issue with this Council. Mayor Grant thought there was a path forward after Bob Lux redlines the term sheet. Council should pencil in November 7th for the Special Work Session. Councilmember Monson agrees with Councilmember Rousseau to get the redline and then the JDA reps can talk to the developer about it, without committing to anything. Then the financial information will be available to discuss on November 7th Mayor Grant said it would be the first proposal to Bob Lux. Councilmember Monson thinks there need to be discussions before November 7th. Councilmember Holden said this all had to wait until now and now we're on the County's deadline. Mayor Grant said it always goes slow, until it goes fast. He would prefer to give input to the negotiators before they meet with Bob Lux. If input is not wanted, he asked what are we even doing? Councilmember Monson said as the JDA rep, she would love input. But there is no opportunity for that for three weeks. When the redline document comes back, maybe it's not a counter. It might just be a conversation with him to gather information that would be helpful for a counter that will be discussed on the 7th Councilmember Fabel said Council can get a better understanding of where things might go. Mayor Grant said we might find out that the County goes back and forth with Bob Lux for five weeks.