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City of Arden Hills, Minnesota Five-Year Capital Improvement Plan for Bond Issuance 6 Availability of Public Resources To effectively and reasonably support the costs of the projects, the City determined to finance the project through the issuance of general obligation bonds. Given the cost of the proposed project, however, debt will be necessary to preserve sufficient operating and capital reserves for the City. Level of Overlapping Debt Taxing District 2023/24 Adjusted Taxable Net Tax Capacity In City (%)Total GO Debt City Share Ramsey County 868,599,789.00$ 2.5026% 170,500,000$ 4,266,933$ ISD No. 621 156,521,339 13.4110% 153,315,000 20,561,075 ISD No. 623 104,387,430 0.7154% 167,200,000 1,196,149 Metropolitan Council 6,313,906,529 0.3443% 159,410,000 548,849 $26,573,005 Overlapping Debt Total Share of Overlapping Debt Relative Costs and Benefits of Alternative Uses of the Funds The space limitations within Station 4 and land it sits on, its age and the desire for increased operational efficiencies drive the need for this project in the City. The participating cities and LJFD did explore alternatives such as renovation and expansion of the existing facility but determined this would not fully meet its needs. Operating Costs of the Proposed Improvements Moving forward with a full-scale replacement facility will provide the space and functionality necessary to sustain fire operations for more than 50 years. The proposed facility includes several long-term operating cost savings measures, including (i) the use a variety of energy efficient materials and upgrades to the lighting and HVAC systems; (ii) climate-controlled storage for essential equipment and vehicles, which will reduce repair and replacement costs; (iii) provide a safer and healthier workplace for firefighters and reduce costs associated workplace injuries and lost time; and (iv) enhance response time and improve communication and training. Options for Shared Facilities with Other Local Governments The facility is a shared facility with its member cities of the LJFD.