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Page 2 of 2 <br />total project cost of $16,381,169 for the purposes of this resolution: <br />• State of MN: $6,370,000 <br />• City of Shoreview: $6,156,869 (61.5%) <br />• City of Arden Hills: $2,422,703 (24.2%) <br />• City of North Oaks: $1,431,597 (14.3%) <br /> <br />There will be project costs incurred in 2026 that will be calculated for each cities proportional <br />amount based on the cost share percentages at the time of invoicing for construction using the <br />formula as defined in the JPA as 25% population, 25% households, 40% fire calls, and 10% <br />assessed value. The cost share percentage will not fluctuate for the duration of financing terms of <br />each respective city whatever that period may be. Below is a five-year history of cost share <br />percentages: <br /> <br />Budget Impact <br /> <br />The City had been slowly stepping up its increases to its Public Safety Capital Fund to support <br />the upcoming construction of the station and avoid large levy spikes. On December 9, 2024, the <br />City Council adopted the 2025-2029 CIP budget which included franchise fee assumptions of <br />$435,000 annually to offset debt service for the new fire station. <br /> <br />Attachment <br /> <br />Attachment A: Redlined Resolution 2025-021 Minnesota Department of Public Safety <br />Attachment B: Clean Resolution 2025-024 Minnesota Department of Public Safety