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ARDEN HILLS CITY COUNCIL – MARCH 10, 2025 7 <br /> <br />MOTION: Mayor Grant moved and Councilmember Monson seconded a motion to <br />Approve Extension for Recording of Final Plat – 1700 Highway 96 W – <br />Trident Development. The motion carried 2-1 (Councilmember Weber <br />opposed). <br /> <br />10. PUBLIC HEARINGS <br /> <br />A. 2025-2029 Capital Improvement Plan for the Issuance of General Obligation <br />Capital Improvement Plan Bonds <br /> <br />Stacie Kvilvang, Ehlers, stated at the February 10, 2025 Regular Council Meeting, the City <br />Council adopted Resolution 2025-018 Providing for the Issuance and Sale of General Obligation <br />CIP Bonds. She stated the maximum amount of bonds the City would issue for its portion of the <br />fire station project would be $4.68 million. She commented further on the five-year (2025-2029) <br />Capital Improvement Plan and requested the Council hold a public hearing for the proposed <br />issuance of General Obligation Capital Improvement Plan Bonds. <br /> <br />Mayor Grant indicated the fire station bids came in slightly lower than anticipated but noted this <br />does not mean the final costs would come in lower. He asked if the bid amount would be lowered. <br /> <br />Ms. Kvilvang reported she was working with staff to determine the final amount that should be <br />bonded for. <br /> <br />Councilmember Monson questioned when the City would decide on the bonding amount. <br /> <br />Ms. Kvilvang indicated the Council voted on the maximum bond amount and staff would <br />determine the amount that should be bonded for the fire station. <br /> <br />Mayor Grant opened the public hearing at 8:00 p.m. <br /> <br />With no one coming forward to speak, Mayor Grant closed the public hearing at 8:01 p.m. <br /> <br />11. NEW BUSINESS <br /> <br />A. Resolution 2025-028 Approving the 2025-2029 Capital Improvement Plan and <br />Approving the Issuance of Capital Improvement Plan Bonds <br /> <br />Stacie Kvilvang, Ehlers, stated in 2024, the City Council held an Open House with residents and <br />discussed at length, the cost and financing options for the new Lake Johanna fire station, with the <br />construction of the new station anticipated to begin in the spring of 2025. The City Council <br />adopted an Electric Franchise Fee Ordinance with Xcel Energy (Northern States Power <br />Company) on October 28, 2024 for the collection of franchise fees in order to finance the new fire <br />station. On December 9, 2024, the City Council adopted the 2025-2029 CIP budget which <br />included franchise fee assumptions of $435,000 annually to offset debt service for the new fire <br />station. <br /> <br />Ms. Kvilvang reported at the February 10, 2025 Regular Council Meeting, the City Council <br />adopted Resolution 2025-018 Providing for the Issuance and Sale of General Obligation CIP <br />Bonds in an amount of $4,680,000 for 15 years to cover the City’s proportionate share of the