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ARDEN HILLS CITY COUNCIL—DECEMBER 9, 2024 2 County staff informed the JDA that they had received an LOI from Alatus that has a"new" terms structure. It was communicated that this new structure would be with Alatus finding private financing for mass grading and the County would transfer the land to Alatus and then they would do private financing of the mass grading versus County bonding and public funding for the mass grading. The County Board held a closed session on December Yd to review this new structure and discussions continue on potential PSA terms. Additionally, County staff noted there is a tentative placeholder for an agenda item at the County Board meeting on December 17th. Also from the JDA discussion, Jenny Boulton, the JDA Attorney, provided an update on the PDA terms which includes language to have reached substantial agreement as to the terms of the final DA by October 31, 2024. She reviewed the notice details should substantial progress have not been made and noted that neither party has issued that notice. Following these updates, the JDA has tentatively scheduled a Special Work Session on December 20th at 4 PM to hear updates on the PSA and discuss the terms of the PDA. Councilmember Monson discussed the events that occurred at the last JDA meeting noting the JDA was made fully aware of the preliminary development agreement notice. She indicated if the JDA were to give notice, there would be a 30-day period where additional negotiations could be made to try and reach substantial progress. She commented the JDA would be holding a special meeting on December 20 in order to be able to respond quickly in the event the County does not approve the purchase and sale agreement on December 17. Councilmember Fabel commented the developer has worked very hard to overcome the financial problems which were created by the long delay of this project. He noted this led to tremendous increases in interest rates and construction costs which has thrown a substantial monkey wrench in moving this project forward. He indicated the proposed private financing for the mass grading would help the County's reluctance to inject bonding funds into the development and creates a level of hopefulness for him. He stated the next couple of weeks would be critically important for this project. Councilmember Holden stated this was the same action that happened to the long delay when Alatus did not come forward with any agreement with the County. She understood the financial costs have gone up, along with the cost for the land given the delays. 3. PUBLIC INQUIRIES/INFORMATIONAL Ed Dickinson, 3188 Asbury Avenue, stated a section of Old Snelling from Trunk Highway 51 to County Road E had a 40 mile per hour limit and for much of that time the road was in a deteriorated condition. He reported this section of roadway has been completely resurfaced and a curbed walkway was created for pedestrians. However, at this time, the speed limit was lowered to 25 miles per hour. He indicated this roadway runs through an uncongested area where houses along the roadway were set well back. He recommended the 25 mile per hour speed limit be reconsidered and changed back to 40 miles per hour as this would be more in synch with the area north of the roundabout. Steve Scott, 4286 Norma Avenue, thanked the Council for the Christmas card that was sent to his address. He explained 10 months ago there was a large deployment ceremony for the 34th Infantry Division known as the Red Bulls. He indicated this impacted 574 soldiers that were sent to the