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ARDEN HILLS SPECIAL CITY COUNCIL WORK SESSION — NOVEMBER 7, 2024 4 Councilmember Fabel asked about the timing in the option agreement for the purchase of the civic land. It states that if the City exercises the option to buy in the first two years, it will cost the City $1. However, between two years and five years, the City would pay 50% of the cost. If it's after five years the City would pay 100% of the value. He doesn't understand why it was structured like that. Stacie Kvilvang said that was the agreement with the County for the timing of the takedown. They were going to be charging a market rate for the lot. Now Alatus' proforma has $0 as revenue for the civic site. Even though it is written that way, the cost will always be $1. Mayor Grant said that would explain the comment that says it will be transferred to the City at no cost with no revisionary ownership. Stacie Kvilvang said the County didn't want the City to get the land for cheap and then go sell it to Bob Lux and the City make money when they paid $1. Mayor Grant said it does specify that it needs to be used for public use and reserves the right for the County to work with Bob Lux as well as TIF on development of the property. If we do that, Bob Lux will build the associated infrastructure, including parking and access to any facility that is built. Councilmember Holden said Bob Lux backed out on the parking. At one time he was going to give us free parking and then it was reduced to 10 slots. Mayor Grant asked if it was in the May 22 agreement. Stacie Kvilvang said before they were going to do parking under all the buildings and they were going to be connected. That is not the plan anymore. The individual buildings will have the traditional underground parking. Mayor Grant thought the parking was still on the Term Sheet. Stacie Kvilvang said that is not in there. That would have to be discussed and decided upon. If the plan is to build a one-story civic space that the city owns, we will need to decide what is needed for parking. If it's a partnership with a civic space on the bottom and apartments above, the parking would be below, and it would have to be discussed if a portion of that parking would be available for the civic space. Mayor Grant said it would be like how Columbia Heights did it. Councilmember Monson didn't think that was a civic use. She understood that wouldn't fall under our definition of civic use to have public facilities with apartments on top. The way the agreement is written, we could only do a community center, a library, a theater. We couldn't add the apartments above. If we wanted to do that, she thinks we would have to rezone. Interim City Administrator said we may not have to rezone but there would be some additional land uses in the TRC for the civic center to allow for that type of use.