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ARDEN HILLS CITY COUNCIL WORK SESSION — SEPTEMBER 22, 2025 19 higher side, and that would give us a chance to hear the opinions of the Councilmembers not in attendance. City Administrator Jagoe said this is giving Staff the direction on the percentage range that Council would like Staff to come back with. That will be set at the meeting on the September 29. Mayor Grant said his preferences are D1-D3. He doesn't think we can do F, G or J because they are bonding scenarios. We had someone from Ramsey County here earlier that was saying there may be a cost share policy change that would make bonding for those projects unnecessary. The PIR may not be hit as hard. We won't know that until sometime into 2026. We shouldn't run out and bond unless we know we need it. We would be setting ourselves up for a payment schedule for the next 20 years. The interest is $1.3 million. When we look at some of the upcoming projects, at least one of them is $1.18 million. We could completely pay for that project for the same amount we would be paying in interest. Councilmember Weber said the same argument can be made regarding splitting and pushing the projects. That costs money, too. Mayor Grant said another thing to consider is when we look out to 2030, 2032 or 2034 we are looking at a formula that may or may not come to be. Public Works Director/City Engineer Swearingen said when he is planning projects that are 10 years out, he budgets high, knowing it will likely come down. He would rather have that than to come in too low. Streets that are 10-years out are estimated at the full reclamation rehab. Mayor Grant said some of the numbers in future years are potentially high. When we see the graphs that project the City will be in the red, we don't necessarily know that to be true. Councilmember Monson asked what the $100,000 is in the EDA Fund. Finance Director Yang said last year we transferred $100,000 from the EDA Fund to the General Fund to offset some of the levy burden. We are just reinstating that $100,000. Councilmember Monson asked what is spent out of the EDA Fund. Finance Director Yang said a lot of it is personnel and signage. Councilmember Weber said he remembers the discussion being that money was for a planned gateway sign. Councilmember Monson said we may not get the gateway signs. She is wondering if that is something we can look at closer. She said she would prefer to bond. She is not interested in bonding for 2026. It's too expensive. For today's purposes, we can assume it includes bonding or not. We can make that decision next year. Mayor Grant said for every $2 you bond, you pay pack $3.