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• <br /> It was initially thought that there were nine unused antennas on the tower; however, those <br /> • antennas have since been identified as operational antennas that belong to the existing tenants. <br /> There are no remaining unused antennas on the tower. There is currently a proposal from <br /> Clearwire Wireless to install six additional antennas on the tower. This proposal has received a <br /> recommendation for approval from the Planning Commission, and the City Council will review <br /> the proposal at their April 26 meeting. <br /> If the Clearwire proposal is approved by the City, the tower will be at 97.4 percent capacity. <br /> However, the City's structural engineer noted that the legs of the tower are only at 62.8 percent <br /> capacity and the upper sections of the tower could be upgraded to increase the overall capacity of <br /> the tower. <br /> Proposal Review <br /> Sand Companies Proposal <br /> Paragraph 6 of the tower sale proposal from SCI is the crux of the proposal. SCI is requesting a <br /> total of$575,000 in assistance from the City for the Arden Village workforce housing project. If <br /> the property cannot generate $575,000 in TIF, the remaining portion of the request would be paid <br /> by the City in the form of cash or waiving development fees(building permits. SAC/WAC, etc). <br /> The preliminary TIF analysis conducted by Ehlers and Associates estimated that the <br /> development project would generate $252,254 in a 26 year TIF district. Under the SCI proposal, <br /> 411 the remaining$322,746 would be paid by the City to reach the total request of$575,000. It has <br /> not yet been determined if a 26 year TIF district is needed for this project. If the length of the <br /> TIF district is decreased, the amount of TIF generated would be reduced as shown on page three <br /> of the Ehler's analysis and the City's remaining portion would increase accordingly. <br /> Insurance, Maintenance, and Utility Costs <br /> The City's insurance agent provided a quote of$1,400 per year for insurance, which was based <br /> on a value of$175,000 for the tower. Since an appraisal has not yet been completed, a value of <br /> $175,000 was initially used because that is the difference between the initial $400.000 TIF <br /> request from SCI last fall and the $575,000 request in the tower sale proposal. However, as part <br /> of the preliminary TIF analysis, Ehlers used a value or$600,000 for the tower and property. <br /> This higher value was determined by Ramsey County as the likely value for the property when it <br /> is subdivided. Staff has requested an additional quote from the insurance agent based on a value <br /> of$600,000, but the additional quote was not available in time for this memorandum. <br /> Staff has been in contact with Jeff Peterson at True North Tower, which is a company that <br /> provides communication tower maintenance in Minnesota. Mr. Peterson stated that insurance for <br /> a tower like this is minimal. He recommended an annual inspection, which was estimated to cost <br /> City of Arden Hills <br /> • C lUsersyoe.ruebiAppDatalLocallMicrosoftlWindowsiTemporary Internet Files1Content.Outlookl t8RIDL3K 04/310-FPAC Memo-Reding <br /> Tower Purchase.doc <br /> Page 2 of 3 <br />