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