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ARDEN HILLS CITY COUNCIL SPECIAL WORK SESSION—OCTOBER 15, 2024 5 Councilmember Monson said she is fine with continuing that structure for negotiations. Councilmember Rousseau wondered if the 2 or 3 special work sessions Staff is requesting are intended to be held before going into the negotiations with the developer. Mayor Grant believes so. Councilmember Rousseau asked if Council is to be setting up a second set of meetings, in addition to the 2 or 3 special work sessions. Mayor Grant was thinking those meetings were the negotiating meetings with the developer. Councilmember Holden said it would make sense to know what the City wants before going into negotiations. Councilmember Fabel presumed Staff and the JDA representatives would take the document that was already negotiated in the past and make sure all items are still on the table for the developer. They would then bring that back to the full Council and open and rediscuss any items that need to be. It wouldn't be starting from scratch. There has been a lot of agreement already. He thinks the most efficient way to move forward is for Staff and the JDA representatives to begin talks with the developer, using the existing document and then bring information from the negotiations back to Council. Councilmember Holden said prices have really increased recently. Bob Lux of Alatus had planned to purchase things off the shelf and she thinks it's important to determine if the City wants a park dedication fee. If Bob Lux is saving a million dollars on park equipment. That may be the difference between something extra special the park could have if he paid the park dedication fee, instead of purchasing the equipment. Mayor Grant noted the build-out cost of the project is somewhere over $700 million. If there were a 10% park dedication fee included that would be $70 million. He estimates the creation of the parks would be approximately $20 million. Stacie Kvilvang said the park dedication is not a percentage it is calculated per residential unit and on the commercial side the park dedication is based on a percentage of the land value, not the value of the development value. The Council picked the amenities and equipment they wanted for the parks and those are outlined in the Park MOU. That was priced out by the City's consultants and the amount was $16 million. The park dedication fees were sized to pay for that. Today's cost could be higher, but Bob Lux is going to pay for it, no matter what it is. It will be important for Council to look at the parks' uses outlined in the MOU drafted eight years ago. Mayor Grant said we may have tennis courts in there and maybe pickleball courts are more appropriate now. He asked what the land value is. Stacie Kvilvang thought$63 million, not including the commercial land. Councilmember Monson asked about the process. Does Council want to have the work sessions and then go to negotiations or have the JDA representatives begin negotiations and come back to a work session with information.