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ARDEN HILLS CITY COUNCIL SPECIAL WORK SESSION—OCTOBER 15, 2024 2 Interim City Administrator Jagoe introduced Stacie Kvilvang of Ehlers who is the financial advisor for the project. Kori Land, The City Attorney for the TCAAP discussions could not make it to the meeting. Scheduling regular meetings would make it easier for everyone to make it to the meetings, rather than surveying who has availability which delays the progress on the discussions. Interim City Administrator Jagoe said after establishing regular meeting times, Staff seeks direction for the process for the negotiations. Outlined in the memo, is the prior process that two City Council members had been primarily leading that negotiation with approvals being brought back to the full Council. Staff wonders if the Council desires to keep that process. Mayor Grant asked Councilmembers if there was any background information they wanted other than the previous Term Sheet. Councilmember Holden said she has talked to Interim City Administrator Jagoe about what she would like to see. Mayor Grant said he would like to see spreadsheet financials. He said there is reference to 4D Housing. He asked if that is 50 or 60. Stacie Kvilvang said yes 4D is typically a minimum of 20% of the units at 60% of the area median income to quality for it. She pointed out one item in the development plan that has not changed throughout the discussions. There is one building that would be 100% tax credit project. So, 100% of that building would qualify for 4D. There is another building or two that would have 20% of the units at the 60%. Councilmember Holden would like to see the parks plan. The developer didn't want to do park dedication fees because he said he can build it so much cheaper than if he paid park dedication fees to the City and the City built it. She would like to take a closer look at that plan. Mayor Grant would like a full detail about what would be at each park. Interim City Administrator Jagoe said that the equipment detail sheet was attached to the memo of understanding. Councilmember Monson asked what information Councilmember Holden requested from Interim City Administrator Jagoe. Councilmember Holden said she was looking for financials. Councilmember Monson asked for clarification if Councilmember Holden was looking for financials of what it looks like today or at each step. Councilmember Holden said financials of City cost. Stacie Kvilvang thought it was the spreadsheet that has the City's cost for staff and capital and the taxes that come off of it. Councilmember Holden said the new one is missing several items.