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ARDEN HILLS CITY COUNCIL—September 14, 2009 19 <br /> 7E. Arden Village Letter of Support(continued) <br /> Mayor Harpstead stated that the discussions tonight were in regards to a letter of <br /> support. He asked Staff if this implied that the zoning decision was made tonight as <br /> well. <br /> Community Development Director Lehnhoff stated that technically the zoning <br /> decision is not made tonight. The two items are directly related but the request at <br /> this time is not for a zoning change. <br /> Mayor Harpstead stated that the process would still need to go through the <br /> planning commission and public hearing process. <br /> Community Development Director Lehnhoff stated that this is correct. <br /> Mayor Harpstead stated that the question was if the Council wanted to draft a <br /> letter of support. He stated that there are, usually in this pool of funds, multiple <br /> applications throughout the region or state. He asked Mr. Thelen if he had any <br /> indication what ratio of these applications received funding. <br /> Mr. Thelen stated that there are about 30 to 40 applications throughout the state <br /> and about 30% to 40% of those will get funded. <br /> Mayor Harpstead clarified that there was a chance that the project would not get <br /> funded. <br /> Mr. Thelen stated that this was correct. One of the big scoring aspects when <br /> competing for the funding is a project that has some local support. <br /> Councilmember Grant stated that moving forward in the process the Council will <br /> need more detail on the tower and what exactly the relationship between Sand <br /> Companies and the trust will be. The tower has a revenue stream attached to it that <br /> the Council needs to be aware of when issuing TIF. <br /> Mayor Harpstead stated that ideally if the trust's fiduciary duty they would <br /> discount to the present all the future cash streams from the tower and exercise that <br /> in the sale price of the property. <br /> Councilmember McClung stated that the Council would need clarity regarding the <br /> tower before they approve final TIF for this property. <br /> Finance Director Iverson stated that this was correct. <br />