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HomeMy WebLinkAbout09-23-24-WSMayor: Address: David GrantIt 1245 W Highway 96 Arden Hills MN 55112 -A HILLS Councilmembers: EN Phone: Brenda Holden 651-792-7800 Emily Rousseau City Council Tena Monson Website: Tom Fabel Work Session Agenda www.cityofardenhills.org September 23, 2024 5:30 p.m. City Hall City Vision Arden Hills is a strong community that values its unique environmental setting, strong residential neighborhoods, vital business community, well -maintained infrastructure, fiscal soundness, and our long-standing tradition as a desirable City in which to live, work, and play. Members of the public may attend a meeting in -person at City Hall or they may view the meeting remotely on the City's website using the below link. Meetings are also broadcast on Cable Channel 16 for those that live in Arden Hills. https://cityofardenhills.orci/320/Watch- City-Meetings This meeting will be streamed live on local Cable Channel 16 and available for playback on our website. CALL TO ORDER 1. PUBLIC INQUIRIES/INFORMATIONAL This is an opportunity for citizens to respectfully bring to the Council's attention any items which are relevant to the City. In addressing the Council, you must first state your name and address for the record. Comments shall be limited to three (3) minutes or less. Written documents or other materials should be handed to the City Clerk for distribution to the Council prior to or during the meeting. Council will generally not respond at the same meeting where an issue is initially raised by a member of the public but the Council may refer the issue to staff for further research and possible report or action at a future Council meeting. 2. RESPONSE TO PUBLIC INQUIRIES 3. AGENDA ITEMS 3.A. 2025 General Obligation CIP Bond Schedule And Franchise Fees Discussion Joua Yang, Finance Director Documents: MEMO.PDF ATTACHMENT A.PDF ATTACHMENT B.PDF 3.B. Adult Use Cannabis Moratorium Update Julie Hanson, Assistant to the City Administrator/City Clerk Documents: MEMO.PDF ATTACHMENT A.PDF ATTACHMENT B.PDF 3.C. T-Mobile Site Use Agreement David Swearingen, Public Works Director/City Engineer Documents: MEMO.PDF ATTACHMENT A.PDF ATTACHMENT B.PDF 3.D. Rice Creek Commons/TCAAP Discussion Jessica Jagoe, Interim City Administrator Documents: MEMO.PDF 3.E. Agenda Planning Jessica Jagoe, Interim City Administrator Documents: MEMO.PDF ATTACHMENT A.PDF ATTACHMENT B.PDF 4. COUNCIL/STAFF COMMENTS ADJOURN AGENDA ITEM — 3A -fiR)LEN_,HILLs MEMORANDUM DATE: September 23, 2024 Honorable Mayor and City Councilmembers TO: Jessica Jagoe, Interim City Administrator FROM: Joua Yang, Finance Director SUBJECT: Preliminary 2025 General Obligation CIP Bond Schedules Electric Franchise Fee Rate Structure Scenarios Budgeted Amount: Actual Amount: Funding Source: N/A N/A N/A Council Should Consider Provide feedback on the Preliminary 2025 General Obligation Capital Improvement Plan (CIP) Bond Schedules Provide feedback on the implementation of Electric Franchise Fees Background Staff held a Capital Funding Update Open House on Saturday, April 20th at City Hall. Staff shared that there is an anticipated future gap in funding for the City, largely due to increased costs for the Lake Johanna Fire Department Station project ($4.1M), the Old Hwy 10 Trail/Lake Valentine to Hwy 96 and Lake Johanna trail projects ($3.6M), and a recently revised equipment needs schedule. A survey was released, thereafter, for City residents and businesses to provide additional input. During the May 13, 2024 Work Session, staff shared the survey results. There were 73 residential survey responses, with approximately 54% choosing a franchise fee option (22% - electric only; 32% - gas and electric), approximately 30% choosing a property tax levy option, and approximately 17% choosing the combination of property tax levy and franchise fee option. For those respondents who chose any combination of a franchise fee option, approximately 64% indicated the City should consider dedicating the fees for a specific purpose. Some common themes included bike lanes, park and trail improvements; structures and road maintenance; storm water system maintenance and utility infrastructure; fire station. Respondents also provided their concerns and additional comments for Council consideration. Some common concerns shared is that an increase to property taxes would burden taxpayers and would remain in effect indefinitely. Additionally, some respondents shared that non -profits should be assessed a fee in lieu of taxes, which would mean assessing a levy increase on residents and imposing a franchise fee on non- residential and non-profit organizations. Page 1 of 2 Council Discussion Staff is seeking direction from the City Council regarding debt service and franchise fees adoption for the Lake Johanna Fire Department. CIP Funding Update —Debt Service & Franchise Fees Included in the 2025-2029 CIP budget are franchise fee assumptions of $375,000 annually, estimated to start in 2025 to offset debt service for the new fire station. Per the August 19 budget work session, Council directed staff to work with the City's financial advisor, Ehler's, to determine the timing and structure of a bond issuance to occur in the Spring of 2025, in order to align with the anticipated development of the new fire station. Staff and Ehler's recommend that the City issue bonds independently of one overarching project bond, as this will allow the City to take advantage of more favorable interest rates through the issuance of Bank Qualified (BQ) bonds (less than $10 million of tax-exempt bonds). Attachment A are the preliminary Series 2025 general obligation CIP bond schedules provided by Ehler's, highlighting one scenario at current market bank qualified (BQ) AAA rates and the second scenario at current market BQ AAA rates with a 75 basis points cushion. The scenarios assume the City will issue bonds at a par value between $4,645,000 and $4,690,000, of which $4,425,000 would be directed to the project construction fund, with remaining funds to cover the costs of issuance, underwriter fees, and interest. Each scenario assumes the bonds would settle on May 15, 2025 at different maturity dates of 10 years, 15 years, and 20 years. What term or debt service schedule does Council want to move forward with? This direction is needed in order to inform Xcel Energy of the targeted revenue amount, which will determine the franchise fee rate structure. Attachment B contains three electric franchise fee rate structure scenarios provided by Xcel Energy. The scenarios assume a $375,000 revenue target, with residential properties assessed a $3.00 monthly fee and other property rates varying slightly. Staff will provide Xcel Energy with Council's direction on the targeted revenue amount and will bring forward an updated rate structure back to Council for review. With the debt service payments expected to occur in February 2026, staff recommends adoption of the franchise fee rate structure no later than November 1, 2024 for implementation by February 1, 2025. Staff has confirmed with the City Attorney that a public hearing is not required for the adoption of an ordinance for the implementation of franchise fees and/or approval of the franchise agreements with Xcel Energy. For all ordinances, a notice is posted on the City website 10 days in advance of the Council's consideration to inform the public of the upcoming ordinance review. Council should discuss and provide direction to city staff on having an optional public hearing at the October meeting. What additional thoughts, if any, should staff consider? Budtet Impact None. Attachments A. Preliminary Series 2025 General Obligation CIP Bond Schedules B. Electric Franchise Fee Rate Structure Scenarios Page 2 of 2 Attachment A 2025 DEBT SERVICE SCHEDULE LJFD FINANCING Scenario 1: Current Market BQ AAA Rates 10-year 15-year 20-year Underwriter's Fee $ 55,740 $ 55,800 $ 55,920 Costs of Issuance 68,000 68,000 68,000 Interest 93,547 100,039 109,582 Project Construction 4,425,000 4,425,000 4,425,000 Rounding 2,713 1,161 1,498 Par Amount of Bonds $ 4,645,000 $ 4,650,000 $ 4,660,000 Total Interest 765,185 1,252,755 1,898,735 Total Debt Service $ 5,410,185 $ 5,902,755 $ 6,558,735 Annual Debt Service $ 542,000 $ 395,000 $ 330,000 True Interest Cost 3.07856% 3.28670% 3.61672% Scenario 2: Current Market BQ AAA Rates plus 75 bps 10-year 15-year 20-year Underwriter's Fee $ 56,040 $ 56,100 $ 56,280 Costs of Issuance 68,000 68,000 68,000 Interest 119,022 125,794 135,940 Project Construction 4,425,000 4,425,000 4,425,000 Rounding 1,938 106 4,780 Par Amount of Bonds $ 4,670,000 $ 4,675,000 $ 4,690,000 Totallnterest 980,875 1,587,078 2,371,750 Total Debt Service $ 5,650,875 $ 6,262,078 $ 7,061,750 Annual Debt Service $ 568,000 $ 420,000 $ 356,000 True Interest Cost 3.83315% 4.04475% 4.37874% City of Arden Hills, Minnesota $4,645,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 10 Years Sources & Uses Dated 05/15/2025 1 Delivered 05/15/2025 Sources Of Funds Par Amount of Bonds $4,645,000.00 Total Sources Uses Of Funds Total Underwriter's Discount (1.200%) Costs of Issuance Deposit to Capitalized Interest (CIF) Fund Deposit to Project Construction Fund Rounding Amount Total Uses Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:11 PM $4,645,000.00 55,740.00 68,000.00 93,546.67 4,425,000.00 2,713.33 $4,645,000.00 EHLERS City of Arden Hills, Minnesota $4,645,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 10 Years Net Debt Service Schedule Date Principal Coupon Interest Total P+I CIF Net New D/S Fiscal Total 05/15/2025 - - 02/01/2026 93,546.67 93,546.67 (93,546.67) - 08/01/2026 65,775.00 65,775.00 65,775.00 - 02/01/2027 410,000.00 2.750% 65,775.00 475,775.00 475,775.00 541,550.00 08/01/2027 - - 60,137.50 60,137.50 60,137.50 - 02/01/2028 420,000.00 2.750% 60,137.50 480,137.50 480,137.50 540,275.00 08/01/2028 - - 54,362.50 54,362.50 54,362.50 - 02/01/2029 435,000.00 2.750% 54,362.50 489,362.50 489,362.50 543,725.00 08/01/2029 - - 48,381.25 48,381.25 48,381.25 - 02/01/2030 445,000.00 2.750% 48,381.25 493,381.25 493,381.25 541,762.50 08/01/2030 - - 42,262.50 42,262.50 42,262.50 - 02/01/2031 455,000.00 2.750% 42,262.50 497,262.50 497,262.50 539,525.00 08/01/2031 - - 36,006.25 36,006.25 36,006.25 - 02/01/2032 470,000.00 2.800% 36,006.25 506,006.25 506,006.25 542,012.50 08/01/2032 - - 29,426.25 29,426.25 29,426.25 - 02/01/2033 480,000.00 2.800% 29,426.25 509,426.25 509,426.25 538,852.50 08/01/2033 - - 22,706.25 22,706.25 22,706.25 - 02/01/2034 495,000.00 2.900% 22,706.25 517,706.25 517,706.25 540,412.50 08/01/2034 - - 15,528.75 15,528.75 15,528.75 - 02/01/2035 510,000.00 2.950% 15,528.75 525,528.75 525,528.75 541,057.50 08/01/2035 - - 8,006.25 8,006.25 8,006.25 - 02/01/2036 525,000.00 3.050% 8,006.25 533,006.25 533,006.25 541,012.50 Total $4,645,000.00 - $858,731.67 $5,503,731.67 (93,546.67) $5,410,185.00 - Significant Dates Dated 5/15/2025 First Coupon Date Yield Statistics 2/01/2026 Bond Year Dollars Average Life $29,893.11 6.436 Years Average Coupon Net Interest Cost (NIC) True Interest Cost (TIC) 2.8726741% 3.0591385% 3.0785566% Bond Yield for Arbitrage Purposes All Inclusive Cost (AIC) 2.8681724% 3.3399105% IRS Form 8038 Net Interest Cost 2.8726741% Weighted Average Maturity 6.436 Years Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:11 PM REHLERS PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,645,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 10 Years Debt Service Schedule 105% of Date Principal Coupon Interest Total P+I CIF Net New D/S Total 02/01/2026 - - 93,546.67 93,546.67 (93,546.67) - - 02/01/2027 410,000.00 2.750% 131,550.00 541,550.00 541,550.00 568,627.50 02/01/2028 420,000.00 2.750% 120,275.00 540,275.00 540,275.00 567,288.75 02/01/2029 435,000.00 2.750% 108,725.00 543,725.00 543,725.00 570,911.25 02/01/2030 445,000.00 2.750% 96,762.50 541,762.50 541,762.50 568,850.63 02/01/2031 455,000.00 2.750% 84,525.00 539,525.00 539,525.00 566,501.25 02/01/2032 470,000.00 2.800% 72,012.50 542,012.50 542,012.50 569,113.13 02/01/2033 480,000.00 2.800% 58,852.50 538,852.50 538,852.50 565,795.13 02/01/2034 495,000.00 2.900% 45,412.50 540,412.50 540,412.50 567,433.13 02/01/2035 510,000.00 2.950% 31,057.50 541,057.50 541,057.50 568,110.38 02/01/2036 525,000.00 3.050% 16,012.50 541,012.50 541,012.50 568,063.13 Total $4,645,000.00 - $858,731.67 $5,503,731.67 (93,546.67) $5,410,185.00 $5,680,694.25 Significant Dates Dated 5/15/2025 First Coupon Date 2/01/2026 Yield Statistics Bond Year Dollars $29,893.11 Average Life 6.436 Years Average Coupon 2.8726741% Net Interest Cost (NIC) 3.0591385% True Interest Cost (TIC) 3.0785566% Bond Yield for Arbitrage Purposes 2.8681724% All Inclusive Cost (AIC) 3.3399105% Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:11 PM EHLERS PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,650,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 15 Years Sources & Uses Dated 05/15/2025 1 Delivered 05/15/2025 Sources Of Funds Par Amount of Bonds $4,650,000.00 Total Sources Uses Of Funds Total Underwriter's Discount (1.200%) Costs of Issuance Deposit to Capitalized Interest (CIF) Fund Deposit to Project Construction Fund Rounding Amount Total Uses Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:10 PM $4,650,000.00 55,800.00 68,000.00 100,039.11 4,425,000.00 1,160.89 $4,650,000.00 EHLERS City of Arden Hills, Minnesota $4,650,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 15 Years Net Debt Service Schedule Date Principal Coupon Interest Total P+I CIF Net New D/S Fiscal Total 05/15/2025 - - 02/01/2026 100,039.11 100,039.11 (100,039.11) - 08/01/2026 70,340.00 70,340.00 70,340.00 - 02/01/2027 255,000.00 2.750% 70,340.00 325,340.00 325,340.00 395,680.00 08/01/2027 - - 66,833.75 66,833.75 66,833.75 - 02/01/2028 260,000.00 2.750% 66,833.75 326,833.75 326,833.75 393,667.50 08/01/2028 - - 63,258.75 63,258.75 63,258.75 - 02/01/2029 265,000.00 2.750% 63,258.75 328,258.75 328,258.75 391,517.50 08/01/2029 - - 59,615.00 59,615.00 59,615.00 - 02/01/2030 275,000.00 2.750% 59,615.00 334,615.00 334,615.00 394,230.00 08/01/2030 - - 55,833.75 55,833.75 55,833.75 - 02/01/2031 280,000.00 2.750% 55,833.75 335,833.75 335,833.75 391,667.50 08/01/2031 - - 51,983.75 51,983.75 51,983.75 - 02/01/2032 290,000.00 2.800% 51,983.75 341,983.75 341,983.75 393,967.50 08/01/2032 - - 47,923.75 47,923.75 47,923.75 - 02/01/2033 300,000.00 2.800% 47,923.75 347,923.75 347,923.75 395,847.50 08/01/2033 - - 43,723.75 43,723.75 43,723.75 - 02/01/2034 305,000.00 2.900% 43,723.75 348,723.75 348,723.75 392,447.50 08/01/2034 - - 39,301.25 39,301.25 39,301.25 - 02/01/2035 315,000.00 2.950% 39,301.25 354,301.25 354,301.25 393,602.50 08/01/2035 - - 34,655.00 34,655.00 34,655.00 - 02/01/2036 325,000.00 3.050% 34,655.00 359,655.00 359,655.00 394,310.00 08/01/2036 - - 29,698.75 29,698.75 29,698.75 - 02/01/2037 335,000.00 3.150% 29,698.75 364,698.75 364,698.75 394,397.50 08/01/2037 - - 24,422.50 24,422.50 24,422.50 - 02/01/2038 345,000.00 3.200% 24,422.50 369,422.50 369,422.50 393,845.00 08/01/2038 - - 18,902.50 18,902.50 18,902.50 - 02/01/2039 355,000.00 3.300% 18,902.50 373,902.50 373,902.50 392,805.00 08/01/2039 - - 13,045.00 13,045.00 13,045.00 - 02/01/2040 365,000.00 3.400% 13,045.00 378,045.00 378,045.00 391,090.00 08/01/2040 - - 6,840.00 6,840.00 6,840.00 - 02/01/2041 380,000.00 3.600% 6,840.00 386,840.00 386,840.00 393,680.00 Total $4,650,000.00 - $1,3529794.11 Significant Dates Dated First Coupon Date Yield Statistics Bond Year Dollars Average Life Average Coupon Net Interest Cost (NIC) True Interest Cost (TIC) Bond Yield for Arbitrage Purposes All Inclusive Cost (AIC) IRS Form 8038 Net Interest Cost Weighted Average Maturity Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:10 PM g'ZEHLERS PUBLIC FINANCE ADVISORS $6,002,794.11 (100,039.11) $5,902,755.00 - 5/15/2025 2/01/2026 $42,991.67 9.246 Years 3.1466426% 3.2764352% 3.2867024% 3.1314377% 3.4794575% 3.1466426% 9.246 Years City of Arden Hills, Minnesota $4,650,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 15 Years Debt Service Schedule 105% of Date Principal Coupon Interest Total P+I CIF Net New D/S Total 02/01/2026 - - 100,039.11 100,039.11 (100,039.11) - - 02/01/2027 255,000.00 2.750% 140,680.00 395,680.00 395,680.00 415,464.00 02/01/2028 260,000.00 2.750% 133,667.50 393,667.50 393,667.50 413,350.88 02/01/2029 265,000.00 2.750% 126,517.50 391,517.50 391,517.50 411,093.38 02/01/2030 275,000.00 2.750% 119,230.00 394,230.00 394,230.00 413,941.50 02/01/2031 280,000.00 2.750% 111,667.50 391,667.50 391,667.50 411,250.88 02/01/2032 290,000.00 2.800% 103,967.50 393,967.50 393,967.50 413,665.88 02/01/2033 300,000.00 2.800% 95,847.50 395,847.50 395,847.50 415,639.88 02/01/2034 305,000.00 2.900% 87,447.50 392,447.50 392,447.50 412,069.88 02/01/2035 315,000.00 2.950% 78,602.50 393,602.50 393,602.50 413,282.63 02/01/2036 325,000.00 3.050% 69,310.00 394,310.00 394,310.00 414,025.50 02/01/2037 335,000.00 3.150% 59,397.50 394,397.50 394,397.50 414,117.38 02/01/2038 345,000.00 3.200% 48,845.00 393,845.00 393,845.00 413,537.25 02/01/2039 355,000.00 3.300% 37,805.00 392,805.00 392,805.00 412,445.25 02/01/2040 365,000.00 3.400% 26,090.00 391,090.00 391,090.00 410,644.50 02/01/2041 380,000.00 3.600% 13,680.00 393,680.00 393,680.00 413,364.00 Total $4,650,000.00 - $1,352,794.11 $6,002,794.11 (100,039.11) $5,902,755.00 $6,197,892.75 Significant Dates Dated 5/15/2025 First Coupon Date 2/01/2026 Yield Statistics Bond Year Dollars $42,991.67 Average Life 9.246 Years Average Coupon 3.1466426% Net Interest Cost (NIC) 3.2764352% True Interest Cost (TIC) 3.2867024% Bond Yield for Arbitrage Purposes 3.1314377% All Inclusive Cost (AIC) 3.4794575% Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:10 PM i4'EHLERS IN PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,660,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 20 Years Sources & Uses Dated 05/15/2025 1 Delivered 05/15/2025 Sources Of Funds Par Amount of Bonds $4,660,000.00 Total Sources Uses Of Funds Total Underwriter's Discount (1.200%) Costs of Issuance Deposit to Capitalized Interest (CIF) Fund Deposit to Project Construction Fund Rounding Amount Total Uses Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:09 PM $4,660,000.00 55,920.00 68,000.00 109,582.22 4,425,000.00 1,497.78 $4,660,000.00 EHLERS City of Arden Hills, Minnesota $4,660,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 20 Years Net Debt Service Schedule Date Principal Coupon Interest Total P+I CIF Net New D/S Fiscal Total 05/15/2025 - - 02/01/2026 109,582.22 109,582.22 (109,582.22) - 08/01/2026 77,050.00 77,050.00 77,050.00 - 02/01/2027 175,000.00 2.750% 77,050.00 252,050.00 252,050.00 329,100.00 08/01/2027 - - 74,643.75 74,643.75 74,643.75 - 02/01/2028 180,000.00 2.750% 74,643.75 254,643.75 254,643.75 329,287.50 08/01/2028 - - 72,168.75 72,168.75 72,168.75 - 02/01/2029 185,000.00 2.750% 72,168.75 257,168.75 257,168.75 329,337.50 08/01/2029 - - 69,625.00 69,625.00 69,625.00 - 02/01/2030 190,000.00 2.750% 69,625.00 259,625.00 259,625.00 _ 329,250.00 08/01/2030 - - 67,012.50 67,012.50 67,012.50 - 02/01/2031 195,000.00 2.750% 67,012.50 262,012.50 262,012.50 329,025.00 08/01/2031 - - 64,331.25 64,331.25 64,331.25 - 02/01/2032 200,000.00 2.800% 64,331.25 264,331.25 264,331.25 328,662.50 08/01/2032 - - 61,531.25 61,531.25 61,531.25 - 02/01/2033 205,000.00 2.800% 61,531.25 266,531.25 266,531.25 328,062.50 08/01/2033 - - 58,661.25 58,661.25 58,661.25 - 02/01/2034 210,000.00 2.900% 58,661.25 268,661.25 268,661.25 327,322.50 08/01/2034 - - 55,616.25 55,616.25 55,616.25 - 02/01/2035 215,000.00 2.950% 55,616.25 270,616.25 270,616.25 326,232.50 08/01/2035 - - 52,445.00 52,445.00 52,445.00 - 02/01/2036 225,000.00 3.050% 52,445.00 277,445.00 277,445.00 329,890.00 08/01/2036 - - 49,013.75 49,013.75 49,013.75 - 02/01/2037 230,000.00 3.150% 49,013.75 279,013.75 279,013.75 328,027.50 08/01/2037 - - 45,391.25 45,391.25 45,391.25 - 02/01/2038 235,000.00 3.200% 45,391.25 280,391.25 280,391.25 325,782.50 08/01/2038 - - 41,631.25 41,631.25 41,631.25 - 02/01/2039 245,000.00 3.300% 41,631.25 286,631.25 286,631.25 328,262.50 08/01/2039 - - 37,588.75 37,588.75 37,588.75 - 02/01/2040 250,000.00 3.400% 37,588.75 287,588.75 287,588.75 325,177.50 08/01/2040 - - 33,338.75 33,338.75 33,338.75 - 02/01/2041 260,000.00 3.600% 33,338.75 293,338.75 293,338.75 326,677.50 08/01/2041 - - 28,658.75 28,658.75 28,658.75 - 02/01/2042 270,000.00 3.750% 28,658.75 298,658.75 298,658.75 327,317.50 08/01/2042 - - 23,596.25 23,596.25 23,596.25 - 02/01/2043 280,000.00 3.850% 23,596.25 303,596.25 303,596.25 327,192.50 08/01/2043 - - 18,206.25 18,206.25 18,206.25 - 02/01/2044 290,000.00 3.950% 18,206.25 308,206.25 308,206.25 326,412.50 08/01/2044 - - 12,478.75 12,478.75 12,478.75 - 02/01/2045 305,000.00 4.000% 12,478.75 317,478.75 317,478.75 329,957.50 08/01/2045 - - 6,378.75 6,378.75 6,378.75 - 02/01/2046 315,000.00 4.050% 6,378.75 321,378.75 321,378.75 327,757.50 Total $4,660,000.00 - $2,008,317.22 $6,668,317.22 (109,582.22) $6,558,735.00 - Significant Dates Dated _ 5/15/2025 First Coupon Date 2/01/2026 Yield Statistics Bond Year Dollars $56,968.78 Average Life 12.225 Years Average Coupon 3.5252946% Net Interest Cost (NIC) 3.6234536% True Interest Cost (TIC) 3.6167188% Bond Yield for Arbitrage Purposes 3.4905474% All Inclusive Cost (AIC) 3.7730918% IRS Form 8038 Net Interest Cost 3.5252946% Weighted Average Maturity 12.225 Years Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:09 PM 14EHLERS PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,660,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates 20 Years Debt Service Schedule 105% of Date Principal Coupon Interest Total P+I CIF Net New D/S Total 02/01/2026 - - 109,582.22 109,582.22 (109,582.22) - - 02/01/2027 175,000.00 2.750% 154,100.00 329,100.00 329,100.00 345,555.00 02/01/2028 180,000.00 2.750% 149,287.50 329,287.50 329,287.50 345,751.88 02/01/2029 185,000.00 2.750% 144,337.50 329,337.50 329,337.50 345,804.38 02/01/2030 190,000.00 2.750% 139,250.00 329,250.00 329,250.00 345,712.50 02/01/2031 195,000.00 2.750% 134,025.00 329,025.00 329,025.00 345,476.25 02/01/2032 200,000.00 2.800% 128,662.50 328,662.50 328,662.50 345,095.63 02/01/2033 205,000.00 2.800% 123,062.50 328,062.50 328,062.50 344,465.63 02/01/2034 210,000.00 2.900% 117,322.50 327,322.50 327,322.50 343,688.63 02/01/2035 215,000.00 2.950% 111,232.50 326,232.50 326,232.50 342,544.13 02/01/2036 225,000.00 3.050% 104,890.00 329,890.00 329,890.00 346,384.50 02/01/2037 230,000.00 3.150% 98,027.50 328,027.50 328,027.50 344,428.88 02/01/2038 235,000.00 3.200% 90,782.50 325,782.50 325,782.50 342,071.63 02/01/2039 245,000.00 3.300% 83,262.50 328,262.50 328,262.50 344,675.63 02/01/2040 250,000.00 3.400% 75,177.50 325,177.50 325,177.50 341,436.38 02/01/2041 260,000.00 3.600% 66,677.50 326,677.50 326,677.50 343,011.38 02/01/2042 270,000.00 3.750% 57,317.50 327,317.50 327,317.50 343,683.38 02/01/2043 280,000.00 3.850% 47,192.50 327,192.50 327,192.50 343,552.13 02/01/2044 290,000.00 3.950% 36,412.50 326,412.50 326,412.50 342,733.13 02/01/2045 305,000.00 4.000% 24,957.50 329,957.50 329,957.50 346,455.38 02/01/2046 315,000.00 4.050% 12,757.50 327,757.50 327,757.50 344,145.38 Total $4,660,000.00 - $2,008,317.22 $6,668,317.22 (109,582.22) $6,558,735.00 $6,886,671.75 Significant Dates Dated First Coupon Date Yield Statistics 5/15/2025 2/01/2026 Bond Year Dollars $56,968.78 Average Life Average Coupon Net Interest Cost (NIC) True Interest Cost (TIC) Bond Yield for Arbitrage Purposes All Inclusive Cost (AIC) Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:09 PM 12.225 Years 3.5252946% 3.6234536% 3.6167188% 3.4905474% 3.7730918% 1;4'EHLERS IN PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,670,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 10 Years Sources & Uses Dated 05/15/2025 1 Delivered 05/15/2025 Sources Of Funds Par Amount of Bonds $4,670,000.00 Total Sources Uses Of Funds Total Underwriter's Discount (1.200%) Costs of Issuance Deposit to Capitalized Interest (CIF) Fund Deposit to Project Construction Fund Rounding Amount Total Uses Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:14 PM $4,670,000.00 56,040.00 68,000.00 119,022.22 4,425,000.00 1,937.78 $4,670,000.00 EHLERS City of Arden Hills, Minnesota $4,670,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 10 Years Net Debt Service Schedule Date Principal Coupon Interest Total P+I CIF Net New D/S Fiscal Total 05/15/2025 - - - - 02/01/2026 119,022.22 119,022.22 (119,022.22) - 08/01/2026 83,687.50 83,687.50 - 83,687.50 - 02/01/2027 400,000.00 3.500% 83,687.50 483,687.50 - 483,687.50 567,375.00 08/01/2027 - - 76,687.50 76,687.50 - 76,687.50 - 02/01/2028 410,000.00 3.500% 76,687.50 486,687.50 - 486,687.50 563,375.00 08/01/2028 - - 69,512.50 69,512.50 - 69,512.50 - 02/01/2029 425,000.00 3.500% 69,512.50 494,512.50 - 494,512.50 564,025.00 08/01/2029 - - 62,075.00 62,075.00 - 62,075.00 - 02/01/2030 440,000.00 3.500% 62,075.00 502,075.00 - 502,075.00 564,150.00 08/01/2030 - - 54,375.00 54,375.00 - 54,375.00 - 02/01/2031 455,000.00 3.500% 54,375.00 509,375.00 - 509,375.00 563,750.00 08/01/2031 - - 46,412.50 46,412.50 - 46,412.50 - 02/01/2032 475,000.00 3.550% 46,412.50 521,412.50 - 521,412.50 567,825.00 08/01/2032 - - 37,981.25 37,981.25 - 37,981.25 - 02/01/2033 490,000.00 3.550% 37,981.25 527,981.25 - 527,981.25 565,962.50 08/01/2033 - - 29,283.75 29,283.75 - 29,283.75 - 02/01/2034 505,000.00 3.650% 29,283.75 534,283.75 - 534,283.75 563,567.50 08/01/2034 - - 20,067.50 20,067.50 - 20,067.50 - 02/01/2035 525,000.00 3.700% 20,067.50 545,067.50 - 545,067.50 565,135.00 08/01/2035 - - 10,355.00 10,355.00 - 10,355.00 - 02/01/2036 545,000.00 3.800% 10,355.00 555,355.00 - 555,355.00 565,710.00 Total $4,670,000.00 - $1,099,897.22 $5,769,897.22 (119,022.22) $5,650,875.00 - Significant Dates Dated First Coupon Date Yield Statistics 5/15/2025 2/01 /2026 Bond Year Dollars $30,345.89 Average Life 6.498 Years Average Coupon 3.6245345% Net Interest Cost (NIC) 3.8092053% True Interest Cost (TIC) 3.8331482% Bond Yield for Arbitrage Purposes 3.6185476% All Inclusive Cost (AIC) 4.0983427% IRS Form 8038 Net Interest Cost 3.6245345% Weighted Average Maturity Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:14 PM 6.498 Years i44EHLERS PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,670,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 10 Years Debt Service Schedule 105% of Date Principal Coupon Interest Total P+I CIF Net New D/S Total 02/01/2026 - - 119,022.22 119,022.22 (119,022.22) - - 02/01/2027 400,000.00 3.500% 167,375.00 567,375.00 567,375.00 595,743.75 02/01/2028 410,000.00 3.500% 153,375.00 563,375.00 563,375.00 591,543.75 02/01/2029 425,000.00 3.500% 139,025.00 564,025.00 564,025.00 592,226.25 02/01/2030 440,000.00 3.500% 124,150.00 564,150.00 564,150.00 592,357.50 02/01/2031 455,000.00 3.500% 108,750.00 563,750.00 563,750.00 591,937.50 02/01/2032 475,000.00 3.550% 92,825.00 567,825.00 567,825.00 596,216.25 02/01/2033 490,000.00 3.550% 75,962.50 565,962.50 565,962.50 594,260.63 02/01/2034 505,000.00 3.650% 58,567.50 563,567.50 563,567.50 591,745.88 02/01/2035 525,000.00 3.700% 40,135.00 565,135.00 565,135.00 593,391.75 02/01/2036 545,000.00 3.800% 20,710.00 565,710.00 565,710.00 593,995.50 Total $4,670,000.00 - $1,099,897.22 $5,769,897.22 (119,022.22) $5,650,875.00 $5,933,418.75 Significant Dates Dated First Coupon Date Yield Statistics Bond Year Dollars Average Life Average Coupon Net Interest Cost (NIC) True Interest Cost (TIC) Bond Yield for Arbitrage Purposes All Inclusive Cost (AIC) Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:14 PM 5/15/2025 2/01/2026 $30,345.89 6.498 Years 3.6245345% 3.8092053% 3.8331482% 3.6185476% 4.0983427% IZ4EHLERS PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,675,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 15 Years Sources & Uses Dated 05/15/2025 1 Delivered 05/15/2025 Sources Of Funds Par Amount of Bonds $4,675,000.00 Total Sources Uses Of Funds Total Underwriter's Discount (1.200%) Costs of Issuance Deposit to Capitalized Interest (CIF) Fund Deposit to Project Construction Fund Rounding Amount Total Uses Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:13 PM $4,675,000.00 56,100.00 68,000.00 125,793.78 4,425,000.00 106.22 $4,675,000.00 EHLERS City of Arden Hills, Minnesota $4,675,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 15 Years Net Debt Service Schedule Date Principal Coupon Interest Total P+I CIF Net New D/S Fiscal Total 05/15/2025 - - 02/01/2026 125,793.78 125,793.78 (125,793.78) - 08/01/2026 88,448.75 88,448.75 88,448.75 - 02/01/2027 240,000.00 3.500% 88,448.75 328,448.75 328,448.75 416,897.50 08/01/2027 - - 84,248.75 84,248.75 84,248.75 - 02/01/2028 250,000.00 3.500% 84,248.75 334,248.75 334,248.75 418,497.50 08/01/2028 - - 79,873.75 79,873.75 79,873.75 - 02/01/2029 260,000.00 3.500% 79,873.75 339,873.75 339,873.75 419,747.50 08/01/2029 - - 75,323.75 75,323.75 75,323.75 - 02/01/2030 265,000.00 3.500% 75,323.75 340,323.75 340,323.75 415,647.50 08/01/2030 - - 70,686.25 70,686.25 70,686.25 - 02/01/2031 275,000.00 3.500% 70,686.25 345,686.25 345,686.25 416,372.50 08/01/2031 - - 65,873.75 65,873.75 65,873.75 - 02/01/2032 285,000.00 3.550% 65,873.75 350,873.75 350,873.75 416,747.50 08/01/2032 - - 60,815.00 60,815.00 60,815.00 - 02/01/2033 295,000.00 3.550% 60,815.00 355,815.00 355,815.00 416,630.00 08/01/2033 - - 55,578.75 55,578.75 55,578.75 - 02/01/2034 305,000.00 3.650% 55,578.75 360,578.75 360,578.75 416,157.50 08/01/2034 - - 50,012.50 50,012.50 50,012.50 - 02/01/2035 320,000.00 3.700% 50,012.50 370,012.50 370,012.50 420,025.00 08/01/2035 - - 44,092.50 44,092.50 44,092.50 - 02/01/2036 330,000.00 3.800% 44,092.50 374,092.50 374,092.50 418,185.00 08/01/2036 - - 37,822.50 37,822.50 37,822.50 - 02/01/2037 340,000.00 3.900% 37,822.50 377,822.50 377,822.50 415,645.00 08/01/2037 - - 31,192.50 31,192.50 31,192.50 - 02/01/2038 355,000.00 3.950% 31,192.50 386,192.50 386,192.50 417,385.00 08/01/2038 - - 24,181.25 24,181.25 24,181.25 - 02/01/2039 370,000.00 4.050% 24,181.25 394,181.25 394,181.25 418,362.50 08/01/2039 - - 16,688.75 16,688.75 16,688.75 - 02/01/2040 385,000.00 4.150% 16,688.75 401,688.75 401,688.75 418,377.50 08/01/2040 - - 8,700.00 8,700.00 8,700.00 - 02/01/2041 400,000.00 4.350% 8,700.00 408,700.00 408,700.00 417,400.00 Total $4,675,000.00 - $1,712,871.28 $6,387,871.28 (125,793.78) $6,262,077.50 - Significant Dates Dated 5/15/2025 First Coupon Date 2/01/2026 Yield Statistics Bond Year Dollars $43,874.44 Average Life 9.385 Years Average Coupon 3.9040296% Net Interest Cost (NIC) 4.0318944% True Interest Cost (TIC) 4.0447484% Bond Yield for Arbitrage Purposes 3.8852561 % All Inclusive Cost (AIC) 4.2417281% IRS Form 8038 Net Interest Cost Weighted Average Maturity Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:13 PM 3.9040296% 9.385 Years 4EHLERS PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,675,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 15 Years Debt Service Schedule 105% of Date Principal Coupon Interest Total P+I CIF Net New D/S Total 02/01/2026 - - 125,793.78 125,793.78 (125,793.78) - - 02/01/2027 240,000.00 3.500% 176,897.50 416,897.50 416,897.50 437,742.38 02/01/2028 250,000.00 3.500% 168,497.50 418,497.50 418,497.50 439,422.38 02/01/2029 260,000.00 3.500% 159,747.50 419,747.50 419,747.50 440,734.88 02/01/2030 265,000.00 3.500% 150,647.50 415,647.50 415,647.50 436,429.88 02/01/2031 275,000.00 3.500% 141,372.50 416,372.50 416,372.50 437,191.13 02/01/2032 285,000.00 3.550% 131,747.50 416,747.50 416,747.50 437,584.88 02/01/2033 295,000.00 3.550% 121,630.00 416,630.00 416,630.00 437,461.50 02/01/2034 305,000.00 3.650% 111,157.50 416,157.50 416,157.50 436,965.38 02/01/2035 320,000.00 3.700% 100,025.00 420,025.00 420,025.00 441,026.25 02/01/2036 330,000.00 3.800% 88,185.00 418,185.00 418,185.00 439,094.25 02/01/2037 340,000.00 3.900% 75,645.00 415,645.00 415,645.00 436,427.25 02/01/2038 355,000.00 3.950% 62,385.00 417,385.00 417,385.00 438,254.25 02/01/2039 370,000.00 4.050% 48,362.50 418,362.50 418,362.50 439,280.63 02/01/2040 385,000.00 4.150% 33,377.50 418,377.50 418,377.50 439,296.38 02/01/2041 400,000.00 4.350% 17,400.00 417,400.00 417,400.00 438,270.00 Total $4,675,000.00 - $1,712,871.28 $6,387,871.28 (125,793.78) $6,262,077.50 $6,575,181.38 Significant Dates Dated 5/15/2025 First Coupon Date 2/01/2026 Yield Statistics Bond Year Dollars $43,874.44 Average Life 9.385 Years Average Coupon 3.9040296% Net Interest Cost (NIC) 4.0318944% True Interest Cost (TIC) 4.0447484% Bond Yield for Arbitrage Purposes 3.8852561% All Inclusive Cost (AIC) 4.2417281% Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:13 PM i4'EHLERS IN PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,690,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 20 Years Sources & Uses Dated 05/15/2025 1 Delivered 05/15/2025 Sources Of Funds Par Amount of Bonds $4,690,000.00 Total Sources Uses Of Funds Total Underwriter's Discount (1.200%) Costs of Issuance Deposit to Capitalized Interest (CIF) Fund Deposit to Project Construction Fund Rounding Amount Total Uses Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:12 PM $4,690,000.00 56,280.00 68,000.00 135,939.56 4,425,000.00 4,780.44 $4,690,000.00 EHLERS City of Arden Hills, Minnesota $4,690,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 20 Years Net Debt Service Schedule Date Principal Coupon Interest Total P+I CIF Net New D/S Fiscal Total 05/15/2025 - - 02/01/2026 135,939.56 135,939.56 (135,939.56) - 08/01/2026 95,582.50 95,582.50 95,582.50 - 02/01/2027 160,000.00 3.500% 95,582.50 255,582.50 255,582.50 351,165.00 08/01/2027 - - 92,782.50 92,782.50 92,782.50 _ 02/01/2028 170,000.00 3.500% 92,782.50 262,782.50 262,782.50 355,565.00 08/01/2028 - - 89,807.50 89,807.50 89,807.50 - 02/01/2029 175,000.00 3.500% 89,807.50 264,807.50 264,807.50 354,615.00 08/01/2029 - - 86,745.00 86,745.00 86,745.00 - 02/01/2030 180,000.00 3.500% 86,745.00 266,745.00 266,745.00 353,490.00 08/01/2030 - - 83,595.00 83,595.00 83,595.00 - 02/01/2031 185,000.00 3.500% 83,595.00 268,595.00 268,595.00 352,190.00 08/01/2031 - - 80,357.50 80,357.50 80,357.50 - 02/01/2032 195,000.00 3.550% 80,357.50 275,357.50 275,357.50 355,715.00 08/01/2032 - - 76,896.25 76,896.25 76,896.25 - 02/01/2033 200,000.00 3.550% 76,896.25 276,896.25 276,896.25 353,792.50 08/01/2033 - - 73,346.25 73,346.25 73,346.25 - 02/01/2034 205,000.00 3.650% 73,346.25 278,346.25 278,346.25 351,692.50 08/01/2034 - - 69,605.00 69,605.00 69,605.00 - 02/01/2035 215,000.00 3.700% 69,605.00 284,605.00 284,605.00 354,210.00 08/01/2035 - - 65,627.50 65,627.50 65,627.50 - 02/01/2036 220,000.00 3.800% 65,627.50 285,627.50 285,627.50 351,255.00 08/01/2036 - - 61,447.50 61,447.50 61,447.50 - 02/01/2037 230,000.00 3.900% 61,447.50 291,447.50 291,447.50 352,895.00 08/01/2037 - - 56,962.50 56,962.50 56,962.50 - 02/01/2038 240,000.00 3.950% 56,962.50 296,962.50 296,962.50 353,925.00 08/01/2038 - - 52,222.50 52,222.50 52,222.50 - 02/01/2039 250,000.00 4.050% 52,222.50 302,222.50 302,222.50 354,445.00 08/01/2039 - - 47,160.00 47,160.00 47,160.00 - 02/01/2040 260,000.00 4.150% 47,160.00 307,160.00 307,160.00 354,320.00 08/01/2040 - - 41,765.00 41,765.00 41,765.00 - 02/01/2041 270,000.00 4.350% 41,765.00 311,765.00 311,765.00 353,530.00 08/01/2041 - - 35,892.50 35,892.50 35,892.50 - 02/01/2042 280,000.00 4.500% 35,892.50 315,892.50 315,892.50 351,785.00 08/01/2042 - - 29,592.50 29,592.50 29,592.50 - 02/01/2043 295,000.00 4.600% 29,592.50 324,592.50 324,592.50 354,185.00 08/01/2043 - - 22,807.50 22,807.50 22,807.50 - 02/01/2044 305,000.00 4.700% 22,807.50 327,807.50 327,807.50 350,615.00 08/01/2044 - - 15,640.00 15,640.00 15,640.00 - 02/01/2045 320,000.00 4.750% 15,640.00 335,640.00 335,640.00 351,280.00 08/01/2045 - - 8,040.00 8,040.00 8,040.00 - 02/01/2046 335,000.00 4.800% 8,040.00 343,040.00 343,040.00 351,080.00 Total $4,690,000.00 - $2,507,689.56 $7,197,689.56 (135,939.56) $7,061,750.00 - Significant Dates Dated 5/15/2025 First Coupon Date 2/01/2026 Yield Statistics Bond Year Dollars $58,465.11 Average Life 12.466 Years Average Coupon 4.2892069% Net Interest Cost (NIC) 4.3854694% True Interest Cost (TIC) 4.3787402% Bond Yield for Arbitrage Purposes 4.2481600% All Inclusive Cost (AIC) 4.5395776% IRS Form 8038 Net Interest Cost 4.2892069% Weighted Average Maturity 12.466 Years Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:13 PM 14EHLERS PUBLIC FINANCE ADVISORS City of Arden Hills, Minnesota $4,690,000 General Obligation CIP Bonds, Series 2025 Assumes Current Market BQ AAA Rates plus 75bps 20 Years Debt Service Schedule 105% of Date Principal Coupon Interest Total P+I CIF Net New D/S Total 02/01/2026 - - 135,939.56 135,939.56 (135,939.56) - - 02/01/2027 160,000.00 3.500% 191,165.00 351,165.00 351,165.00 368,723.25 02/01/2028 170,000.00 3.500% 185,565.00 355,565.00 355,565.00 373,343.25 02/01/2029 175,000.00 3.500% 179,615.00 354,615.00 354,615.00 372,345.75 02/01/2030 180,000.00 3.500% 173,490.00 353,490.00 353,490.00 371,164.50 02/01/2031 185,000.00 3.500% 167,190.00 352,190.00 352,190.00 369,799.50 02/01/2032 195,000.00 3.550% 160,715.00 355,715.00 355,715.00 373,500.75 02/01/2033 200,000.00 3.550% 153,792.50 353,792.50 353,792.50 371,482.13 02/01/2034 205,000.00 3.650% 146,692.50 351,692.50 351,692.50 369,277.13 02/01/2035 215,000.00 3.700% 139,210.00 354,210.00 354,210.00 371,920.50 02/01/2036 220,000.00 3.800% 131,255.00 351,255.00 351,255.00 368,817.75 02/01/2037 230,000.00 3.900% 122,895.00 352,895.00 352,895.00 370,539.75 02/01/2038 240,000.00 3.950% 113,925.00 353,925.00 353,925.00 371,621.25 02/01/2039 250,000.00 4.050% 104,445.00 354,445.00 354,445.00 372,167.25 02/01/2040 260,000.00 4.150% 94,320.00 354,320.00 354,320.00 372,036.00 02/01/2041 270,000.00 4.350% 83,530.00 353,530.00 353,530.00 371,206.50 02/01/2042 280,000.00 4.500% 71,785.00 351,785.00 351,785.00 369,374.25 02/01/2043 295,000.00 4.600% 59,185.00 354,185.00 354,185.00 371,894.25 02/01/2044 305,000.00 4.700% 45,615.00 350,615.00 350,615.00 368,145.75 02/01/2045 320,000.00 4.750% 31,280.00 351,280.00 351,280.00 368,844.00 02/01/2046 335,000.00 4.800% 16,080.00 351,080.00 351,080.00 368,634.00 Total $4,690,000.00 - $2,507,689.56 $7,197,689.56 (135,939.56) $7,061,750.00 $7,414,837.50 Significant Dates Dated First Coupon Date Yield Statistics 5/15/2025 2/01/2026 Bond Year Dollars $58,465.11 Average Life 12.466 Years Average Coupon 4.2892069% Net Interest Cost ( True Interest Cost Bond Yield for Ai All Inclusive Cost Series 2025A GO CIP Bonds I SINGLE PURPOSE 1 8/28/2024 1 2:13 PM 4.3854694% 4.3787402% 4.2481600% 4.5395776% 1;4'EHLERS IN PUBLIC FINANCE ADVISORS Attachment B 0 Xcel Energy City of Arden Hills, MN, Electric Franchise Fee Estimates May 2024 In consultation with city staff, Xcel Energy is providing the following information to assist your community as you consider assessing electric franchise fees on our customers. Given market sensitivity to electric rates, we encourage cities to connect with their affected residents and businesses regarding the impact of utility fees. Cities have the option to collect per -customer franchise fees for gas and/or electric service within their city. Presently, the City of Arden Hills does not collect franchise fees. These franchise fees are collected by Xcel Energy and paid to the city in lieu of any other permit fees or construction performance bond that would otherwise be assessed to Xcel Energy electric and gas construction operations. However, we must still follow all city permit guidelines for our work. Xcel Energy retains no portion of the franchise fee that the city may wish to levy on our customers — all fees collected are remitted to the city on a quarterly basis. The city may use this fee revenue as they wish. The fee projection table provided on page 2 is based upon Xcel Energy's Arden Hills customers' energy use over a 12-month period ending December 2023. These options are listed as examples. They are shown for illustration — other fee levels in each category are available to the city for its action, but the city and Xcel Energy must reach agreement. Fees must be levied in $.25 increments. Fee collection begins within 90 days of receipt of documentation supporting city council action to implement fees, or later if requested by a city. Electric Rate Classifications Monthly Electric Usage Small C&I: Non -Demand Maximum load less than 25 KW per month Example: small retail shop Small C&I: Demand Maximum load between 25 —100 KW per month Example: restaurant Large C&I Maximum load over 100 KW per month Example: manufacturer, school, hospital Customer Classification Electric Current Rate Option A Option B Option C Residential $ 0.00 $ 3.00 $ 3.00 $ 3.00 Small C&I: Non -Demand $ 0.00 $ 4.50 $ 4.25 $ 4.00 Small C&I: Demand $ 0.00 $ 28.00 $ 25.00 $ 20.00 Large C&I $ 0.00 $ 227.00 $ 239.00 $ 257.00 Public Street Lighting $ 0.00 $ 0.00 $ 0.00 $ 0.00 Municipal Pumping $ 0.00 $ 0.00 $ 0.00 $ 0.00 Total Estimated Annual Collection Xcel Energy Electric $ 0.00 $ 375,234 $ 375,657 $ 375,216 AGENDA ITEM - 3B '!Tt -1`iFQEN_ HILLS MEMORANDUM DATE: September 23, 2024 TO: Honorable Mayor and City Councilmembers Jessica Jagoe, Interim City Administrator FROM: Julie Hanson, Assistant to the City Administrator/City Clerk SUBJECT: Adult Use Cannabis Moratorium Update Budgeted Amount: Actual Amount: N/A Council Should Consider N/A Funding Source: N/A Providing preliminary direction regarding regulation of adult use cannabis businesses in the city. Background In 2023, Chapter 342 of Minnesota law was established which legalized adult use cannabis. That also resulted in the creation of the Office of Cannabis Management (OCM), the State agency that regulates cannabis use and businesses in Minnesota. It was anticipated that retail businesses were expected to begin in the first quarter of 2025. In order to afford the City ample time to monitor the guidance and changes that have been occurring regularly since 2023, and continue to occur, the City Council adopted interim Ordinance 2023-010 on August 28, 2023 which prohibited the operation of cannabis businesses in the city (see Attachment A). This moratorium is in effect until January 1, 2025 or until such time the City adopts official controls, whichever occurs first. Per State law, cities are required to issue a retail registration to a cannabis retailer and/or any cannabis business seeking a retail endorsement (including cannabis microbusinesses, cannabis mezzobusinesses, medical cannabis combination businesses, as well as lower -potency hemp retailer businesses). All cannabis businesses are required to comply with local zoning ordinances. Upon receipt of an application for a license, the OCM will reach out to local governments to certify zoning compliance during their application process. Following the issuance of a license by the OCM, the business would then apply for a registration with the city. Page 1 of 2 Cities can adopt reasonable restrictions on the time, place and manner of cannabis operations, including the location of registrations, hours of operation and number of registrations issued. Areas for Council discussion may include the following: Cities are required to update their ordinances regarding zoning for cannabis businesses. Staff therefore requests Council consider zoning regulations, noting Statute allows cities to adopt restrictions if they so choose by prohibiting registrations within: 0 1,000 feet of a school 0 500 feet of a daycare 0 500 feet of a residential treatment facility 0 500 feet from an attraction in a public park regularly used by minors, such as a playground or athletic field. The sale of cannabis is not allowed between 2 am and 8 am Monday through Saturday or between 2 am and 10 am on Sunday. Cities may further prohibit sales between 9 pm and 2 am or between 8 am and 10 am Monday through Saturday if they choose. Staff requests Council consider providing direction on potential limitations on the hours of operation of cannabis retailers. Cities can limit the number of retail businesses but must allow at least one per 12,500 residents. How many registrations does the Council wish to allow? o If the City receives multiple inquiries for registrations, options for selection could include a lottery, on a first-come/first-served model, rolling approvals, and other options. The OCM recommends cities that plan to limit retail registrations work with their City Attorney to develop a process for issuing registrations. o Cities can impose fees for registrations. For example: ■ An initial retail registration fee of $500 or up to half the amount of the applicable initial license fee under section 342.11, whichever is less, can be charged. The initial registration fee must include the fee for initial registration and the first annual renewal. ■ A renewal retail registration fee of $1,000 or up to half the amount of the applicable renewal license fee under section 342.11, whichever is less, can be charged. Please note that the OCM has created a model ordinance for cities (see Attachment B) which provides guidance; however it is recommended cities work with their City Attorney. At this time, City staff is seeking preliminary direction from the City Council regarding how it wants to proceed with zoning and locations for cannabis businesses as well as the number of registrations in the city. Based on Council direction, staff would work with the City Attorney and provide a draft ordinance to Council for consideration at future meeting. Budget Impact TBD based on the Council's direction. Attachments Attachment A: Interim Ordinance 2023-010 Attachment B: OCM Cannabis Model Ordinance Page 2 of 2 Attachment A _�Tt -ARPEN_ HILLS ORDINANCE NO.2023-010 CITY OF ARDEN HILLS RAMSEY COUNTY, MINNESOTA AN INTERIM ORDINANCE PROHIBITING THE OPERATION OF CANNABIS BUSINESSES THE CITY COUNCIL OF THE CITY OF ARDEN HILLS, MINNESOTA, ORDAINS: SECTION 1. FINDINGS AND PURPOSE. A. By enacting 2023 Session Laws Chapter 63, the Minnesota Legislature enacted Minn. Stat. chapter 342, legalizing adult -use cannabis and permitting the operation of cannabis businesses and the sale of cannabis flower and cannabis products for human consumption. This law creates a new ag ncy, the Office of Cannabis Management, to regulate the sales of cannabis products. B. The new law does enact some requirements for production, labeling and testing, and sale of cannabis products at the state government level. However, the new law creates uncertainty that will need to be resolved by the passage of further regulations by the Office. The new law establishes that the sale of cannabis products are still subject to local and zoning restrictions, and must comply with local zoning code. The new law provides no on how cities are to zone the new businesses, leaving it to local control. D. Pursuant to Minn. Stat. § 342.13, the City is authorized to adopt an interim ordinance protecti g the planning process and the health, safety, and welfare of its citizens. Under Minn. Stat. § 342.13, such ordinance may remain in effect until January 1, 2025 E. Pursuant to its general police powers including but not limited to Minn. Stat. § 421.221, subd. 32, the City may enact regulations regarding to promote the health, safety, order, convenience, and the general welfare of the City. This power permits the City to implement a moratorium to study the sales, testing, manufacturing, and distribution of cannabis products to determine if regulations are necessary for the sake of good order of the City. The City Council finds that it is necessary to study the application of 2023 Session Laws hapter 63, and the products, uses, and businesses related thereto, in order to assess the necessi for and efficacy of regulation and restrictions relating to the sales, testing, manufacturing, 227358v2 and distribution of cannabis flower, cannabis products, and lower -potency products including through zoning ordinances, in order to protect the public health, safety, and welfare of its residents. SECTION 2. DEFINITIONS: The following terms when used in this ordinance shall mean: Official controls. "Official controls" or "controls" means ordinances and regulations which control the physical development of the city or any part thereof or any detail thereof and implement the general objectives of the comprehensive plan. Official controls include ordinances establishing zoning, subdivision controls, site plan regulations, sanitary codes, building codes and official maps. Cannabis Business. "Cannabis Business" has the meaning given in Minn. Stat. § 342.01, subd. 14, as amended. Cannabis Flower. "Cannabis Flower" has the meaning given in Minn. Stat. § 342.01, subd. 16, as amended. Cannabis Product. has the meaning given in Minn. Stat. § 342.01, subd. 20, as amended. SECTION 3. INTENT AND AUTHORIZATION: A. It is the intent of this ordinance to allow the City of Arden Hills time to complete an in-depth study concerning adoption of revisions of the City's official controls for the manufacturing, testing, distributing, and selling of Cannabis Flower and Cannabis Products, and the operation of Cannabis Businesses. B. City staff is directed and authorized to conduct a study of the City's official controls that may need to be adopted or amended to protect the public health, safety, and welfare as they relate to the manufacturing, testing, distributing, and selling of Cannabis Flower and Cannabis Products, and the operation of Cannabis Businesses. SECTION 4. TEMPORARY PROHIBITION: A. Pending the completion of the above referenced study and the adoption of appropriate official controls, the following is prohibited within the City: The manufacturing, distributing, and selling of Cannabis Flower and Cannabis Products, and the operation of any Cannabis Business. B. This moratorium does not apply to the selling, testing, manufacturing, or distributing of THC Products related to the Medical Cannabis Program as administered by the Minnesota Department of Health, provided that such activity is done in accordance with the regulations and laws of Minnesota regarding Medical Cannabis. SECTION 5. ENFORCEMENT. The City may enforce this Ordinance by mandamus, injunctive relief, or other appropriate civil remedy in any court of competent jurisdiction. The City 2 227358v2 Council hereby authorizes the City Manager, in consultation with the City Attorney, to initiate any legal action deemed necessary to secure compliance with this Ordinance. A violation of this Ordinance is also subject to the City's general penalty in City Code Sec. 120.03. SECTION 6. EFFECTIVE DATE: This ordinance shall take effect immediately upon its passage and shall remain in effect until January 1, 2025, or until the adoption of the official controls being studied, whichever occurs first. A Summary of this Ordinance will be published in accordance with state statute. ADOPTED this day ofAMkSt- , 2023, by the City Council of the City of Arden Hills, Minnesota. CITY OF ARDEN HILLS By David Grant, Mayor ATTEST: J11, �AJ11-61� Jule Hanson, City Clerk 3 227358v2 Attachment B Cannabis Model Ordinance The following model ordinance is meant to be used as a resource for cities, counties, and townships within Minnesota. The italicized text in red is meant to provide commentary and notes to jurisdictions considering using this ordinance and should be removed from any ordinance formally adopted by said jurisdiction. Certain items are not required to be included in the adopted ordinance: 'OR' and (optional) are placed throughout for areas where a jurisdiction may want to consider one or more choices on language. Section 1 Administration Section 2 Registration of Cannabis Business Section 3 Requirements for a Cannabis Business (Time, Place, Manner) Section 4 Temporary Cannabis Events Section 5 Lower Potency Hemp Edibles Section 6 Local Government as a Retailer Section 7 Use of Cannabis in Public AN ORDINANCE OF THE (CITY/COUNTY OF ) TO REGULATE CANNABIS BUSINESSES The (city council/town board/county board) of (city/town/county) hereby ordains: Section 1. Administration 1.1 Findings and Purpose (insert local authority) makes the following legislative findings: The purpose of this ordinance is to implement the provisions of Minnesota Statutes, chapter 342, which authorizes (insert local authority) to protect the public health, safety, welfare of (insert local here) residents by regulating cannabis businesses within the legal boundaries of (insert local here). (insert local authority) finds and concludes that the proposed provisions are appropriate and lawful land use regulations for (insert local here), that the proposed amendments will promote the community's interest in reasonable stability in zoning for now and in the future, and that the proposed provisions are in the public interest and for the public good. 1.2 Authority & Jurisdiction A county can adopt an ordinance that applies to unincorporated areas and cities that have delegated authority to impose local zoning controls. (insert local authority) has the authority to adopt this ordinance pursuant to: a) Minn. Stat. 342.13(c), regarding the authority of a local unit of government to adopt reasonable restrictions of the time, place, and manner of the operation of a cannabis business provided that such restrictions do not prohibit the establishment or operation of cannabis businesses. b) Minn. Stat. 342.22, regarding the local registration and enforcement requirements of state -licensed cannabis retail businesses and lower -potency hemp edible retail businesses. c) Minn. Stat. 152.0263, Subd. 5, regarding the use of cannabis in public places. d) Minn. Stat. 462.357, regarding the authority of a local authority to adopt zoning ordinances. Ordinance shall be applicable to the legal boundaries of (insert local here). (Optional) (insert city here) has delegated cannabis retail registration authority to (insert county here). However, (insert city here) may adopt ordinances under Sections (2.6, 3 and 4) if (insert county here) has not adopted conflicting provisions. 1.3 Severability If any section, clause, provision, or portion of this ordinance is adjudged unconstitutional or invalid by a court of competent jurisdiction, the remainder of this ordinance shall not be affected thereby. 1.4 Enforcement The elected body of a jurisdiction can choose to designate an official to administer and enforce this ordinance. The (insert name of local government or designated official) is responsible for the administration and enforcement of this ordinance. Any violation of the provisions of this ordinance or failure to comply with any of its requirements constitutes a misdemeanor and is punishable as defined by law. Violations of this ordinance can occur regardless of whether or not a permit is required for a regulated activity listed in this ordinance. 1.5 Definitions 1. Unless otherwise noted in this section, words and phrases contained in Minn. Stat. 342.01 and the rules promulgated pursuant to any of these acts, shall have the same meanings in this ordinance. 2. Cannabis Cultivation: A cannabis business licensed to grow cannabis plants within the approved amount of space from seed or immature plant to mature plant. harvest cannabis flower from mature plant, package and label immature plants and seedlings and cannabis flower for sale to other cannabis businesses, transport cannabis flower to a cannabis manufacturer located on the same premises, and perform other actions approved by the office. 3. Cannabis Retail Businesses: A retail location and the retail location(s) of a mezzobusinesses with a retail operations endorsement, microbusinesses with a retail operations endorsement, medical combination businesses operating a retail location, (and/excluding) lower -potency hemp edible retailers. 4. Cannabis Retailer: Any person, partnership, firm, corporation, or association, foreign or domestic, selling cannabis product to a consumer and not for the purpose of resale in any form. 5. Daycare: A location licensed with the Minnesota Department of Human Services to provide the care of a child in a residence outside the child's own home for gain or otherwise, on a regular basis, for any part of a 24-hour day. 6. Lower -potency Hemp Edible: As defined under Minn. Stat. 342.01 subd. 50. 7. Office of Cannabis Management: Minnesota Office of Cannabis Management, referred to as "OCM" in this ordinance. 8. Place of Public Accommodation: A business, accommodation, refreshment, entertainment, recreation, or transportation facility of any kind, whether licensed or not, whose goods, services, facilities, privileges, advantages or accommodations are extended, offered, sold, or otherwise made available to the public. 9. Preliminary License Approval: OCM pre -approval for a cannabis business license for applicants who qualify under Minn. Stat. 342.17. 10. Public Place: A public park or trail, public street or sidewalk; any enclosed, indoor area used by the general public, including, but not limited to, restaurants; bars; any other food or liquor establishment; hospitals; nursing homes; auditoriums; arenas; gyms; meeting rooms; common areas of rental apartment buildings, and other places of public accommodation. 11. Residential Treatment Facility: As defined under Minn. Stat. 245.462 subd. 23. 12. Retail Registration: An approved registration issued by the (insert local here) to a state - licensed cannabis retail business. 13. School: A public school as defined under Minn. Stat. 120A.05 or a nonpublic school that must meet the reporting requirements under Minn. Stat. 120A.24. 14. State License: An approved license issued by the State of Minnesota's Office of Cannabis Management to a cannabis retail business. Section 2. Registration of Cannabis Businesses A city or town can delegate authority for registration to the County. A city or town can still adopt specific requirement regarding zoning, buffers, and use in public places, provided said requirements are not in conflict with an ordinance adopted under the delegated authority granted to the County. 2.1 Consent to registering of Cannabis Businesses No individual or entity may operate a state -licensed cannabis retail business within (insert local here) without first registering with (insert local here). Any state -licensed cannabis retail business that sells to a customer or patient without valid retail registration shall incur a civil penalty of (up to $2,000) for each violation. Notwithstanding the foregoing provisions, the state shall not issue a license to any cannabis business to operate in Indian country, as defined in United States Code, title 18, section 1151, of a Minnesota Tribal government without the consent of the Tribal government. 2.2 Compliance Checks Prior to Retail Registration A jurisdiction can choose to conduct a preliminary compliance check prior to issuance of retail registration. Prior to issuance of a cannabis retail business registration, (insert local here) (shall/shall not) conduct a preliminary compliance check to ensure compliance with local ordinances. Pursuant to Minn. Stat. 342, within 30 days of receiving a copy of a state license application from OCM, (insert local here) shall certify on a form provided by OCM whether a proposed cannabis retail business complies with local zoning ordinances and, if applicable, whether the proposed business complies with the state fire code and building code. 2.3 Registration & Application Procedure 2.3.1 Fees. (insert local here) shall not charge an application fee. A registration fee, as established in (insert local here)'s fee schedule, shall be charged to applicants depending on the type of retail business license applied for. An initial retail registration fee shall not exceed $500 or half the amount of an initial state license fee under Minn. Stat. 342.11, whichever is less. The initial registration fee shall include the initial retail registration fee and the first annual renewal fee. Any renewal retail registration fee imposed by (insert local here) shall be charged at the time of the second renewal and each subsequent renewal thereafter. A renewal retail registration fee shall not exceed $1,000 or half the amount of a renewal state license fee under Minn. Stat. 342.11, whichever is less. A medical combination business operating an adult -use retail location may only be charged a single registration fee, not to exceed the lesser of a single retail registration fee, defined under this section, of the adult -use retail business. 2.3.2 Application Submittal. The (insert local here) shall issue a retail registration to a state -licensed cannabis retail business that adheres to the requirements of Minn. Stat. 342.22. (A) An applicant for a retail registration shall fill out an application form, as provided by the (insert local here). Said form shall include, but is not limited to: i. Full name of the property owner and applicant; ii. Address, email address, and telephone number of the applicant; iii. The address and parcel ID for the property which the retail registration is sought; iv. Certification that the applicant complies with the requirements of local ordinances established pursuant to Minn. Stat. 342.13. V. (Insert additional standards here) (B) The applicant shall include with the form: i. the registration fee as required in [Section 2.3.1]; ii. a copy of a valid state license or written notice of OCM license preapproval; iii. (Insert additional standards here) (C) Once an application is considered complete, the (insert local government designee) shall inform the applicant as such, process the application fees, and forward the application to the (insert staff/department, or elected body that will approve or deny the request) for approval or denial. (D) The application fee shall be non-refundable once processed. 2.3.3 Application Approval (A) (Optional) A state -licensed cannabis retail business application shall not be approved if the cannabis retail business would exceed the maximum number of registered cannabis retail businesses permitted under Section 2.6. (B) A state -licensed cannabis retail business application shall not be approved or renewed if the applicant is unable to meet the requirements of this ordinance. (C) A state -licensed cannabis retail business application that meets the requirements of this ordinance shall be approved. 2.3.4 Annual Compliance Checks. The (insert local here) shall complete at minimum one compliance check per calendar year of every cannabis business to assess if the business meets age verification requirements, as required under [Minn. Stat. 342.22 Subd. 4(b) and Minn. Stat. 342.24] and this/these [chapter/section/ordinances]. The (insert local here) shall conduct at minimum one unannounced age verification compliance check at least once per calendar year. Age verification compliance checks shall involve persons at least 17 years of age but under the age of 21 who, with the prior written consent of a parent or guardian if the person is under the age of 18, attempt to purchase adult -use cannabis flower, adult -use cannabis products, lower -potency hemp edibles, or hemp -derived consumer products under the direct supervision of a law enforcement officer or an employee of the local unit of government. Any failures under this section must be reported to the Office of Cannabis Management. 2.3.5 Location Change A jurisdiction may decide to treat location changes as a new registration, or alternatively treat a location change as allowable subject to compliance with the rest of the registration process. A state -licensed cannabis retail business shall be required to submit a new application for registration under Section 2.3.2 if it seeks to move to a new location still within the legal boundaries of (insert local here). or If a state -licensed cannabis retail business seeks to move to a new location still within the legal boundaries of (insert local here), it shall notify (insert local here) of the proposed location change, and submit necessary information to meet all the criteria in this paragraph. 2.4 Renewal of Registration The (insert local here) shall renew an annual registration of a state -licensed cannabis retail business at the same time OCM renews the cannabis retail business' license. A state -licensed cannabis retail business shall apply to renew registration on a form established by (insert local here). A cannabis retail registration issued under this ordinance shall not be transferred. 2.4.1 Renewal Fees. The (insert local here) may charge a renewal fee for the registration starting at the second renewal, as established in (insert local here)'s fee schedule. 2.4.2 Renewal Application. The application for renewal of a retail registration shall include, but is not limited to: • Items required under Section 2.3.2 of this Ordinance. • Insert additional items here 2.5 Suspension of Registration 2.5.1 When Suspension is Warranted. The (insert local here) may suspend a cannabis retail business's registration if it violates the ordinance of (insert local here) or poses an immediate threat to the health or safety of the public. The (insert local here) shall immediately notify the cannabis retail business in writing the grounds for the suspension. 2.5.2 Notification to OCM. The (insert local here) shall immediately notify the OCM in writing the grounds for the suspension. OCM will provide (insert local here) and cannabis business retailer a response to the complaint within seven calendar days and perform any necessary inspections within 30 calendar days. 2.5.3 Length of Suspension. A jurisdiction can wait for a determination from the OCM before reinstating a registration. The suspension of a cannabis retail business registration may be for up to 30 calendar days, unless OCM suspends the license for a longer period. The business may not make sales to customers if their registration is suspended. The (insert local here) may reinstate a registration if it determines that the violations have been resolved. The (insert local here) shall reinstate a registration if OCM determines that the violation(s) have been resolved. 2.5.4 Civil Penalties. Subject to Minn. Stat. 342.22, subd. 5(e) the (insert local here) may impose a civil penalty, as specified in the (insert local here)'s Fee Schedule, for registration violations, not to exceed $2,000. 2.6 Limiting of Registrations A jurisdiction may choose to set a limit on the number of retail registrations within its boundaries. The jurisdiction may not however, limit the number of registrations to fewer than one per 12,500 residents. (Optional) The (insert local here) shall limit the number of cannabis retail businesses to no fewer than one registration for every 12,500 residents within (insert local legal boundaries here). (Optional) If (insert county here) has one active cannabis retail businesses registration for every 12,500 residents, the (insert local here) shall not be required to register additional state -licensed cannabis retail businesses. (Optional) The (insert local here) shall limit the number of cannabis retail businesses to (insert number <= minimum required). Section 3. Requirements for Cannabis Businesses State Statutes note that jurisdictions may "adopt reasonable restrictions on the time, place, and manner of the operation of a cannabis business." A jurisdiction considering other siting requirements (such as a buffer between cannabis businesses, or a buffer from churches) should consider whether there is a basis to adopt such restrictions. 3.1 Minimum Buffer Requirements A jurisdiction can adopt buffer requirements that prohibit the operation of a cannabis business within a certain distance of schools, daycares, residential treatment facilities, or from an attraction within a public park that is regularly used by minors, including a playground or athletic field. Buffer requirements are optional. A jurisdiction cannot adopt larger buffer requirements than the requirements here in Section 3.1. A jurisdiction should use a measuring system consistent with the rest of its ordinances, e.g. from lot line or center point of lot. (Optional) The (insert local here) shall prohibit the operation of a cannabis business within [0-1,000] feet of a school. (Optional) The (insert local here) shall prohibit the operation of a cannabis business within [0-500] feet of a day care. (Optional) The (insert local here) shall prohibit the operation of a cannabis business within [0-500] feet of a residential treatment facility. (Optional) The (insert local here) shall prohibit the operation of a cannabis business within [0-500] feet of an attraction within a public park that is regularly used by minors, including a playground or athletic field. (Optional) The (insert local here) shall prohibit the operation of a cannabis retail business within [X] feet of another cannabis retail business. Pursuant to Minn. Stat. 462.357 subd. 1e, nothing in Section 3.1 shall prohibit an active cannabis business or a cannabis business seeking registration from continuing operation at the same site if a (school/daycare/residential treatment facility/attraction within a public park that is regularly used by minors) moves within the minimum buffer zone. 3.2 Zoning and Land Use For jurisdictions with zoning, said jurisdiction can limit what zone(s) Cannabis businesses can operate in. As with other uses in a Zoning Ordinance, a jurisdiction can also determine if such use requires a Conditional or Interim Use permit. A jurisdiction cannot outright prohibit a cannabis business. A jurisdiction should amend their Zoning Ordinance and list what zone(s) Cannabis businesses are permitted in, and whether they are permitted, conditional, or interim uses. While each locality conducts its zoning differently, a few themes have emerged across the country. For example, cannabis manufacturing facilities are often placed in industrial zones, while cannabis retailers are typically found in commercial/retail zones. Cannabis retail facilities align with general retail establishments and are prohibited from allowing consumption or use onsite and are also required to have plans to prevent the visibility of cannabis and hemp -derived products to individuals outside the retail location. Cannabis businesses should be zoned under existing zoning ordinances in accordance with the license type or endorsed activities held by the cannabis business. 3.2.1. Cultivation. Cannabis businesses licensed or endorsed for cultivation are permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 3.2.1. Cannabis Manufacturer. Cannabis businesses licensed or endorsed for cannabis manufacturer are permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 3.2.1. Hemp Manufacturer. Businesses licensed or endorsed for low -potency hemp edible manufacturers permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 3.2.1. Wholesale. Cannabis businesses licensed or endorsed for wholesale are permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 3.2.1. Cannabis Retail. Cannabis businesses licensed or endorsed for cannabis retail are permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 3.2.1. Cannabis Transportation. Cannabis businesses licensed or endorsed for transportation are permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 3.2.1. Cannabis Delivery. Cannabis businesses licensed or endorsed for delivery are permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 3.3 Hours of Operation State law limits the retail sale of cannabis flower, cannabis products, lower -potency hemp edibles, or hemp -derived consumer products to the hours of: • Monday -Saturday: 8 a.m.-2 a.m. the following day • Sunday: 10 a.m.-2 a.m. A local jurisdiction may adopt an ordinance prohibiting sales for any period between the hours of 8 a.m.-10 a.m. and between 9 p.m.-2 a.m. the following day, seven days a week. (Optional) Cannabis businesses are limited to retail sale of cannabis, cannabis flower, cannabis products, lower -potency hemp edibles, or hemp -derived consumer products between the hours of (insert time here) and (insert time here). 3.4 (Optional) Advertising Cannabis businesses are permitted to erect up to two fixed signs on the exterior of the building or property of the business, unless otherwise limited by (insert local here)'s sign ordinances. Section 4. Temporary Cannabis Events Any individual or business seeking to obtain a cannabis event license must provide OCM information about the time, location, layout, number of business participants, and hours of operation. A cannabis event organizer must receive local approval, including obtaining any necessary permits or licenses issued by a local unit of government before holding a cannabis event. 4.1 License or Permit Required for Temporary Cannabis Events 4.1.1 License Required. A cannabis event organizer license entitles the license holder to organize a temporary cannabis event lasting no more than four days. A jurisdiction should determine what type of approval is consistent with their existing ordinances for events. A license or permit is required to be issued and approved by (insert local here) prior to holding a Temporary Cannabis Event. 4.1.2 Registration & Application Procedure A registration fee, as established in (insert local here)'s fee schedule, shall be charged to applicants for Temporary Cannabis Events. 4.1.3 Application Submittal & Review. The (insert local here) shall require an application for Temporary Cannabis Events. (A) An applicant for a retail registration shall fill out an application form, as provided by the (insert local here). Said form shall include, but is not limited to: Full name of the property owner and applicant; ii. Address, email address, and telephone number of the applicant; iii. (Insert additional standards here) (B) The applicant shall include with the form: the application fee as required in (Section 4.1.2); a copy of the OCM cannabis event license application, submitted pursuant to 342.39 subd. 2. The application shall be submitted to the (insert local authority), or other designee for review. If the designee determines that a submitted application is incomplete, they shall return the application to the applicant with the notice of deficiencies. (C) Once an application is considered complete, the designee shall inform the applicant as such, process the application fees, and forward the application to the (insert staff/department, or elected body that will approve or deny the request) for approval or denial. (D) The application fee shall be non-refundable once processed. (E) The application for a license for a Temporary Cannabis Event shall meet the following standards: A jurisdiction may establish standards for Temporary cannabis events which the event organizer must meet, including restricting or prohibiting any on -site consumption. If there are public health, safety, or welfare concerns associated with a proposed cannabis event, a jurisdiction would presumably be authorized to deny approval of that event. • Insert standards here (G) A request for a Temporary Cannabis Event that meets the requirements of this Section shall be approved. (H) A request for a Temporary Cannabis Event that does not meet the requirements of this Section shall be denied. The (insert city/town/county) shall notify the applicant of the standards not met and basis for denial. (Optional) Temporary cannabis events shall only be held at (insert local place). (Optional) Temporary cannabis events shall only be held between the hours of (insert start time) and (insert stop time). Section 5. (Optional) Lower -Potency Hemp Edibles A jurisdiction can establish different standards or requirements regarding Low -Potency Edibles. A jurisdiction can consider including the following section and subsections in their cannabis ordinance. 5.1 Sale of Low -Potency Hemp Edibles The sale of Low -Potency Edibles is permitted, subject to the conditions within this Section. 5.2 Zoning Districts If sales are permitted, a jurisdiction can limit what zone(s) the sales of Low -Potency Edibles can take place in. A jurisdiction can also determine if such activity requires a Conditional or Interim Use permit. Low -Potency Edibles businesses are permitted as a (type of use) in the following zoning districts: • (Insert zoning districts use is permitted in here) • (Insert zoning districts use is permitted in here) 5.3 (Optional) Additional Standards 5.3.1 Sales within Municipal Liquor Store. A jurisdiction that already operates a Municipal Liquor Store may sell Low -Potency Edibles within the some store. The sale of Low -Potency Edibles is permitted in a Municipal Liquor Store. 5.3.2 Age Requirements. A jurisdiction is able to restrict the sale of Low -Potency Edibles to locations such as bars. The sale of Low -Potency Edibles is permitted only in places that admit persons 21 years of age or older. 5.3.3 Beverages. The sale of Low -Potency Hemp Beverages is permitted in places that meet requirements of this Section. 5.3.4 Storage of Product. A jurisdiction is able to set requirements on storage and sales of Low -Potency Edibles. Low -Potency Edibles shall be sold behind a counter, and stored in a locked case. Section 6. (Optional) Local Government as a Cannabis Retailer (insert local here) may establish, own, and operate one municipal cannabis retail business subject to the restrictions in this chapter. The municipal cannabis retail store shall not be included in any limitation of the number of registered cannabis retail businesses under Section 2.6. (insert local here) shall be subject to all same rental license requirements and procedures applicable to all other applicants. Section 7. Use in Public Places No person shall use cannabis flower, cannabis products, lower -potency hemp edibles, or hemp -derived consumer products in a public place or a place of public accommodation unless the premises is an establishment or an event licensed to permit on -site consumption of adult -use. AGENDA ITEM - 3C ,!Tt -fi DEN_ HILLS MEMORANDUM DATE: September 23, 2024 TO: Honorable Mayor and City Councilmembers Jessica Jagoe, Interim City Administrator FROM: David Swearingen, P.E. Public Works Director / City Engineer SUBJECT: T-Mobile South Tower Site Use Lease Agreement Amendment (Antenna Lease) Budgeted Amount: Actual Amount: Funding Source: $20,987.50 (2024) $20,987.50 (2024) General Fund Council Should Consider Proposed lease rate terms related to the First Amendment to Site Use Agreement for T-Mobile. Background The City of Arden Hills entered into a Site Use Lease Agreement with T-Mobile Central LLC (previously referred to as APT) on April 27, 2000 for cell antenna equipment located at the City's South Water Tower at 1230 Red Fox Road. The agreement established a monthly lease rate of $1,000, with an adjustment of 15 percent every 5 years. The agreement expires at the end of April 2025. T-Mobile's real estate agent contacted the City to request renegotiation of the current lease at the South Water Tower. The City Attorney reviewed the amendment document (Attachment B) with T-Mobile and had no concerns with the language as written. The dollar amount shown in Attachment B was T- Mobile's original ask and should be ignored. Provided in Attachment A are proposed options to the base rate and terms for negotiation. The tables show the proposed lease agreement amendment would extend for 25 years to 2050 but that term may also be changed if desired by Council. Page 1 of 2 Additional information Council should be aware of, the Sprint antenna lease agreement for the South Tower will terminate on August 31, 2024. T-Mobile has recently merged with Sprint and has initiated decommissioning of their equipment on the tower. Staff had anticipated this change last year while budgeting for 2024 and assumed a revenue decrease of $30,780. The terms of the Sprint lease were an annual increase of 4% with the lease rate for 2024 set at $48,848.06, and prorated actual earnings of $32,565.37. Budget Impact Within Attachment A, are different lease options to review which consist of different combinations of the following parameters: • Continue current rate at $2,011.36 with existing terms of 15% escalator every 5 years • $3,000 - $4,000 monthly • Escalator 4 - 5% annually or 7.5 - 15% every 5 years • Each option is shown for 25 years, this can be adjusted Council may determine any values they would like for the given terms, the tables provided are only to give a reference of what different combinations look like. City staff is looking for direction from Council on what proposed terms should be brought back to T-Mobile for negotiation. Attachments Attachment A: T-Mobile Site Lease Agreement Options Attachment B: First Amendment to Site Agreement Page 2 of 2 Attachment A Current Lease Terms option 15% increase Monthly Current Year 2019 $1,520.83 $18,250.00 2020 $2,737.50 $1,748.96 $20,987.50 2021 $1,748.96 $20,987.50 2022 $1,748.96 $20,987.50 2023 $1,748.96 $20,987.50 2024 $1,748.96 $20,987.50 2025 $3,148.13 $2,011.30 $24,135.63 2026 $2,011.30 $24,135.63 2027 $2,011.30 $24,135.63 2028 $2,011.30 $24,135.63 2029 $2,011.30 $24,135.63 2030 $3, 558.76 $2, 307.87 $27, 694.39 2031 $2,313.00 $27,755.97 2032 $2,313.00 $27,755.97 2033 $2,313.00 $27,755.97 2034 $2,313.00 $27,755.97 2035 $3, 969.39 $2, 643.78 $31, 725.36 2036 $2,643.78 $31,725.36 2037 $2, 643.78 $31, 725.36 2038 $2, 643.78 $31, 725.36 2039 $2, 643.78 $31, 725.36 2040 $4, 380.02 $3,008.78 $36,105.38 2041 $3,008.78 $36,105.38 2042 $3,008.78 $36,105.38 2043 $3,008.78 $36,105.38 2044 $3,008.78 $36,105.38 2045 $4,790.65 $3,408.00 $40,896.03 2046 $3,408.00 $40,896.03 2047 $3,408.00 $40,896.03 2048 $3,408.00 $40,896.03 2049 $3,408.00 $40,896.03 2050 $5, 201.28 $3, 841.44 $46, 097.31 1 $3,000 with 4% escalator annually Year 4% increase Monthly Total Year 2025 $ 3,000.00 $ 36,000.00 2026 $ 1,440.00 $ 3,120.00 $ 37,440.00 2027 $ 1,497.60 $ 3, 244.80 $ 38, 937.60 2028 $ 1,557.50 $ 3, 374.59 $ 40, 495.10 2029 $ 1,619.80 $ 3, 509.58 $ 42,114.91 2030 $ 1,684.60 $ 3, 649.96 $ 43, 799.50 2031 $ 1,751.98 $ 3, 795.96 $ 45, 551.48 2032 $ 1,822.06 $ 3, 947.80 $ 47, 373.54 2033 $ 1,894.94 $ 4,105.71 $ 49, 268.49 2034 $ 1,970.74 $ 4, 269.94 $ 51, 239.23 2035 $ 2,049.57 $ 4, 440.73 $ 53, 288.79 2036 $ 2,131.55 $ 4, 618.36 $ 55, 420.35 2037 $ 2,216.81 $ 4, 803.10 $ 57, 637.16 2038 $ 2,305.49 $ 4, 995.22 $ 59, 942.65 2039 $ 2,397.71 $ 5,195.03 $ 62, 340.35 2040 $ 2,493.61 $ 5, 402.83 $ 64, 833.97 2041 $ 2,593.36 $ 5, 618.94 $ 67, 427.32 2042 $ 2,697.09 $ 5, 843.70 $ 70,124.42 2043 $ 2,804.98 $ 6, 077.45 $ 72, 929.39 2044 $ 2,917.18 $ 6, 320.55 $ 75, 846.57 2045 $ 3,033.86 $ 6, 573.37 $ 78, 880.43 2046 $ 3,155.22 $ 6, 836.30 $ 82, 035.65 2047 $ 3,281.43 $ 7,109.76 $ 85, 317.08 2048 $ 3,412.68 $ 7, 394.15 $ 88, 729.76 2049 $ 3,549.19 $ 7, 689.91 $ 92, 278.95 2050 $ 3,691.16 $ 7, 997.51 $ 95, 970.11 Pj $3,000 with 5% escalator annually Year 5% increase Monthly Total Year 2025 $ 3,000.00 $ 36,000.00 2026 $ 1,800.00 $ 3,150.00 $ 37, 800.00 2027 $ 1,890.00 $ 3,307.50 $ 39, 690.00 2028 $ 1,984.50 $ 3,472.88 $ 41, 674.50 2029 $ 2,083.73 $ 3,646.52 $ 43, 758.23 2030 $ 2,187.91 $ 3,828.84 $ 45, 946.14 2031 $ 2,297.31 $ 4,020.29 $ 48, 243.44 2032 $ 2,412.17 $ 4,221.30 $ 50, 655.62 2033 $ 2,532.78 $ 4,432.37 $ 53,188.40 2034 $ 2,659.42 $ 4,653.98 $ 55, 847.82 2035 $ 2,792.39 $ 4,886.68 $ 58, 640.21 2036 $ 2,932.01 $ 5,131.02 $ 61, 572.22 2037 $ 3,078.61 $ 5,387.57 $ 64, 650.83 2038 $ 3,232.54 $ 5,656.95 $ 67, 883.37 2039 $ 3,394.17 $ 5,939.79 $ 71, 277.54 2040 $ 3,563.88 $ 6,236.78 $ 74, 841.41 2041 $ 3,742.07 $ 6,548.62 $ 78, 583.49 2042 $ 3,929.17 $ 6,876.05 $ 82, 512.66 2043 $ 4,125.63 $ 7,219.86 $ 86, 638.29 2044 $ 4,331.91 $ 7,580.85 $ 90, 970.21 2045 $ 4,548.51 $ 7,959.89 $ 95, 518.72 2046 $ 4,775.94 $ 8,357.89 $100, 294.65 2047 $ 5,014.73 $ 8,775.78 $105, 309.39 2048 $ 5,265.47 $ 9,214.57 $110, 574.86 2049 $ 5,528.74 $ 9,675.30 $116,103.60 2050 $ 5,805.18 $10,159.06 $121, 908.78 3 $4,000 with 4% escalator annually Year 4% increase Monthly Total Year 2025 $ 4,000.00 $ 48, 000.00 2026 $ 1,920.00 $ 4,160.00 $ 49, 920.00 2027 $ 1,996.80 $ 4,326.40 $ 51, 916.80 2028 $ 2,076.67 $ 4,499.46 $ 53, 993.47 2029 $ 2,159.74 $ 4,679.43 $ 56,153.21 2030 $ 2,246.13 $ 4,866.61 $ 58, 399.34 2031 $ 2,335.97 $ 5,061.28 $ 60, 735.31 2032 $ 2,429.41 $ 5,263.73 $ 63,164.73 2033 $ 2,526.59 $ 5,474.28 $ 65, 691.31 2034 $ 2,627.65 $ 5,693.25 $ 68, 318.97 2035 $ 2,732.76 $ 5,920.98 $ 71, 051.73 2036 $ 2,842.07 $ 6,157.82 $ 73, 893.79 2037 $ 2,955.75 $ 6,404.13 $ 76,849.55 2038 $ 3,073.98 $ 6,660.29 $ 79, 923.53 2039 $ 3,196.94 $ 6,926.71 $ 83,120.47 2040 $ 3,324.82 $ 7,203.77 $ 86, 445.29 2041 $ 3,457.81 $ 7,491.92 $ 89, 903.10 2042 $ 3,596.12 $ 7,791.60 $ 93,499.22 2043 $ 3,739.97 $ 8,103.27 $ 97, 239.19 2044 $ 3,889.57 $ 8,427.40 $101,128.76 2045 $ 4,045.15 $ 8,764.49 $105,173.91 2046 $ 4,206.96 $ 9,115.07 $109, 380.87 2047 $ 4,375.23 $ 9,479.68 $113, 756.10 2048 $ 4,550.24 $ 9,858.86 $118, 306.35 2049 $ 4,732.25 $10,253.22 $123,038.60 2050 $ 4,921.54 $10, 663.35 $127, 960.14 4 $4,000with 5% escalator annually Year 5% increase Monthly Total Year 2025 $ 4,000.00 $ 48, 000.00 2026 $ 2,400.00 $ 4,200.00 $ 50, 400.00 2027 $ 2,520.00 $ 4,410.00 $ 52, 920.00 2028 $ 2,646.00 $ 4,630.50 $ 55, 566.00 2029 $ 2,778.30 $ 4,862.03 $ 58, 344.30 2030 $ 2,917.22 $ 5,105.13 $ 61, 261.52 2031 $ 3,063.08 $ 5,360.38 $ 64, 324.59 2032 $ 3,216.23 $ 5,628.40 $ 67, 540.82 2033 $ 3,377.04 $ 5,909.82 $ 70, 917.86 2034 $ 3,545.89 $ 6,205.31 $ 74, 463.75 2035 $ 3,723.19 $ 6,515.58 $ 78,186.94 2036 $ 3,909.35 $ 6,841.36 $ 82,096.29 2037 $ 4,104.81 $ 7,183.43 $ 86, 201.10 2038 $ 4,310.06 $ 7,542.60 $ 90, 511.16 2039 $ 4,525.56 $ 7,919.73 $ 95,036.72 2040 $ 4,751.84 $ 8,315.71 $ 99, 788.55 2041 $ 4,989.43 $ 8,731.50 $104, 777.98 2042 $ 5,238.90 $ 9,168.07 $110, 016.88 2043 $ 5,500.84 $ 9,626.48 $115, 517.72 2044 $ 5,775.89 $10,107.80 $121, 293.61 2045 $ 6,064.68 $10, 613.19 $127, 358.29 2046 $ 6,367.91 $11,143.85 $133, 726.20 2047 $ 6,686.31 $11, 701.04 $140, 412.51 2048 $ 7,020.63 $12, 286.10 $147, 433.14 2049 $ 7,371.66 $12, 900.40 $154, 804.80 2050 $ 7,740.24 $13, 545.42 $162, 545.04 5 $3,000 with 7.5% escalator every 5 years Year 7.5% increase Monthly Total Year 2025 $ 3,000.00 $ 36,000.00 2026 $ 3,000.00 $ 36,000.00 2027 $ 3,000.00 $ 36,000.00 2028 $ 3, 000.00 $ 36, 000.00 2029 $ 3, 000.00 $ 36, 000.00 2030 $ 2,700.00 $ 3, 225.00 $ 38, 700.00 2031 $ 3, 225.00 $ 38, 700.00 2032 $ 3, 225.00 $ 38, 700.00 2033 $ 3, 225.00 $ 38, 700.00 2034 $ 3, 225.00 $ 38, 700.00 2035 $ 2,902.50 $ 3, 466.88 $ 41, 602.50 2036 $ 3, 466.88 $ 41, 602.50 2037 $ 3, 466.88 $ 41, 602.50 2038 $ 3,466.88 $ 41, 602.50 2039 $ 3, 466.88 $ 41, 602.50 2040 $ 3,120.19 $ 3, 726.89 $ 44, 722.69 2041 $ 3, 726.89 $ 44, 722.69 2042 $ 3, 726.89 $ 44, 722.69 2043 $ 3, 726.89 $ 44, 722.69 2044 $ 3, 726.89 $ 44, 722.69 2045 $ 3,354.20 $ 4, 006.41 $ 48, 076.89 2046 $ 4, 006.41 $ 48, 076.89 2047 $ 4, 006.41 $ 48, 076.89 2048 $ 4, 006.41 $ 48, 076.89 2049 $ 4, 006.41 $ 48, 076.89 2050 $ 3,605.77 $ 4, 306.89 $ 51, 682.66 1.1 $4,000 with 7.5% escalator every 5 years Year 7.5% increase Monthly Total Year 2025 $ 4, 000.00 $ 48, 000.00 2026 $ 4, 000.00 $ 48, 000.00 2027 $ 4, 000.00 $ 48, 000.00 2028 $ 4, 000.00 $ 48, 000.00 2029 $ 4, 000.00 $ 48, 000.00 2030 $ 3,600.00 $ 4, 300.00 $ 51, 600.00 2031 $ 4, 300.00 $ 51, 600.00 2032 $ 4, 300.00 $ 51, 600.00 2033 $ 4, 300.00 $ 51, 600.00 2034 $ 4, 300.00 $ 51, 600.00 2035 $ 3,870.00 $ 4, 622.50 $ 55, 470.00 2036 $ 4, 622.50 $ 55, 470.00 2037 $ 4, 622.50 $ 55,470.00 2038 $ 4, 622.50 $ 55,470.00 2039 $ 4, 622.50 $ 55,470.00 2040 $ 4,160.25 $ 4, 969.19 $ 59, 630.25 2041 $ 4, 969.19 $ 59, 630.25 2042 $ 4, 969.19 $ 59, 630.25 2043 $ 4, 969.19 $ 59, 630.25 2044 $ 4, 969.19 $ 59, 630.25 2045 $ 4,472.27 $ 5, 341.88 $ 64,102.52 2046 $ 5, 341.88 $ 64,102.52 2047 $ 5, 341.88 $ 64,102.52 2048 $ 5, 341.88 $ 64,102.52 2049 $ 5, 341.88 $ 64,102.52 2050 $ 4,807.69 $ 5, 742.52 $ 68, 910.21 7 $3,000 with 15% escalator every 5 years Year 15% increase Monthly Total Year 2025 $ 3, 000.00 $ 36, 000.00 2026 $ 3, 000.00 $ 36, 000.00 2027 $ 3, 000.00 $ 36, 000.00 2028 $ 3, 000.00 $ 36, 000.00 2029 $ 3, 000.00 $ 36, 000.00 2030 $ 5,400.00 $ 3, 450.00 $ 41, 400.00 2031 $ 3, 450.00 $ 41, 400.00 2032 $ 3, 450.00 $ 41, 400.00 2033 $ 3,450.00 $ 41,400.00 2034 $ 3,450.00 $ 41,400.00 2035 $ 6,210.00 $ 3, 967.50 $ 47, 610.00 2036 $ 3, 967.50 $ 47, 610.00 2037 $ 3, 967.50 $ 47, 610.00 2038 $ 3, 967.50 $ 47, 610.00 2039 $ 3, 967.50 $ 47, 610.00 2040 $ 7,141.50 $ 4, 562.63 $ 54, 751.50 2041 $ 4, 562.63 $ 54, 751.50 2042 $ 4, 562.63 $ 54, 751.50 2043 $ 4, 562.63 $ 54, 751.50 2044 $ 4, 562.63 $ 54, 751.50 2045 $ 8,212.73 $ 5, 247.02 $ 62, 964.23 2046 $ 5, 247.02 $ 62, 964.23 2047 $ 5, 247.02 $ 62, 964.23 2048 $ 5, 247.02 $ 62, 964.23 2049 $ 5, 247.02 $ 62, 964.23 2050 $ 9,444.63 $ 6, 034.07 $ 72, 408.86 M $4,000 with 15% escalator every 5 years Year 15% increase Monthly Total Year 2025 $ 4, 000.00 $ 48, 000.00 2026 $ 4, 000.00 $ 48, 000.00 2027 $ 4, 000.00 $ 48, 000.00 2028 $ 4, 000.00 $ 48, 000.00 2029 $ 4, 000.00 $ 48, 000.00 2030 $ 7,200.00 $ 4, 600.00 $ 55, 200.00 2031 $ 4, 600.00 $ 55, 200.00 2032 $ 4, 600.00 $ 55, 200.00 2033 $ 4, 600.00 $ 55, 200.00 2034 $ 4, 600.00 $ 55, 200.00 2035 $ 8,280.00 $ 5, 290.00 $ 63, 480.00 2036 $ 5, 290.00 $ 63,480.00 2037 $ 5, 290.00 $ 63, 480.00 2038 $ 5,290.00 $ 63,480.00 2039 $ 5, 290.00 $ 63, 480.00 2040 $ 9,522.00 $ 6, 083.50 $ 73, 002.00 2041 $ 6, 083.50 $ 73, 002.00 2042 $ 6, 083.50 $ 73, 002.00 2043 $ 6, 083.50 $ 73, 002.00 2044 $ 6, 083.50 $ 73, 002.00 2045 $ 10, 950.30 $ 6, 996.03 $ 83, 952.30 2046 $ 6, 996.03 $ 83, 952.30 2047 $ 6, 996.03 $ 83, 952.30 2048 $ 6, 996.03 $ 83, 952.30 2049 $ 6, 996.03 $ 83, 952.30 2050 $ 12, 592.85 $ 8, 045.43 $ 96, 545.15 E Attachment B FIRST AMENDMENT TO SITE AGREEMENT This First Amendment to Site Agreement (the "First Amendment") is effective as of the last signature below (the "Effective Date"), by and between City of Arden Hills ("Owner"), and T-Mobile Central LLC, a Delaware limited liability company ("Tenant", previously referred to as "APT") (each a "Party", or collectively, the "Parties"). Owner and Tenant (or their predecessors -in -interest) entered into that certain Site Agreement dated April 27,2000, (including all amendments, collectively, the "Agreement") regarding the leased premises ("Premises") located at 1230 Red Fox Road, Arden Hills, Minnesota 55112 (the "Property"). For good and valuable consideration, Owner and Tenant agree as follows: 1. At the expiration of the Agreement, the term of the Agreement will automatically be extended for five (5) additional and successive five (5) year terms, each included as Renewal Term provided that Tenant may elect not to renew by providing Owner at least thirty (30) days' notice prior to the expiration of the then current Renewal Term. 2. Upon the expiration of the final Renewal Term, Tenant shall have the right to continue to occupy the Premises and the Term shall automatically extend for up to nine (9) successive one (1) year periods (each, and "Extended Period"). Landlord may elect not to renew by providing notice to Tenant at least six (6) months prior to the expiration of the then current Extended Period. Tenant may terminate any Extended Period at any time by delivery of notice to Landlord. 3. At the commencement of the first Renewal Term provided for in this First Amendment, Tenant shall pay Owner One Thousand Two Hundred Thirty -Five and 00/100 Dollars ($1,235.00) per month as Rent, partial calendar month to be prorated in advance, by the fifth (5th) day of each calendar month. Thereafter, notwithstanding anything to the contrary in the Agreement, the Rent will escalate by 15% on the first day of each Renewal Term. The Rent for each Extended Period shall be increased by 3% of the Rent for the immediately preceding year. Where duplicate Rent would occur, a credit shall be taken by Tenant for any prepayment of duplicate Rent by Tenant. 4. Owner consents to allow Tenant to complete upgrades to, and replacement of the Antenna Facilities on the Premises for no additional consideration, in compliance with required permits, so long as no additional area is occupied or the number of antennas or ground units are not increased. 1 TMO / Sprint Site ID: AlN0511A 5/21/2021 TMO / Sprint Lease ID: 16898 5. All notices, requests, demands and other communications shall be in writing and shall be deemed to have been delivered upon receipt or refusal to accept delivery, and are effective only when deposited into the U.S. certified mail, return receipt requested, or when sent via a nationally recognized courier to the addresses set forth below. Owner or Tenant may from time to time designate any other address for this purpose by providing written notice to the other Party. If to Tenant: T-Mobile USA, Inc. 12920 SE 38th Street Bellevue, WA 98006 Attn: Lease Compliance/ AlN0511A If to Owner: City of Arden Hills Attn: City Administrator 1245 West Highway 96 Arden Hills, Minnesota 55112 6. Tenant and Owner will reasonably cooperate with each other's requests to approve permit applications and other documents related to the Property without additional payment or consideration. 7. Owner will execute a Memorandum of Agreement at Tenant's request. If the Property is encumbered by a deed, mortgage or other security interest, Owner will also execute a subordination, non -disturbance and attornment agreement. 8. Any charges payable under the Agreement other than Rent shall be billed by Owner to Tenant within twelve (12) months from the date in which the charges were incurred or due; otherwise, the same shall be deemed time -barred and be forever waived and released by Owner. 9. Except as expressly set forth in this First Amendment, the Agreement otherwise is unmodified. To the extent any provision contained in this First Amendment conflicts with the terms of the Agreement, the terms and provisions of this First Amendment shall control. Each reference in the Agreement to itself shall be deemed also to refer to this First Amendment. 10. This First Amendment may be executed in duplicate counterparts, each of which will be deemed an original. Signed electronic, scanned, or facsimile copies of this First Amendment will legally bind the Parties to the same extent as originals. 2 TMO / Sprint Site ID: AlN0511A 5/21/2021 TMO / Sprint Lease ID: 16898 11. Each of the Parties represents and warrants that it has the right, power, legal capacity and authorityto enter into and perform its respective obligations under this First Amendment. Owner represents and warrants to Tenant that the consent or approval of a third party has either been obtained or is not required with respect to the execution of First Amendment. If Owner is represented by any property manager, broker or any other leasing agent ("Agent"), then (a) Owner is solely is responsible for all commission, fees or other payment to Agent and (b) Owner shall not impose any fees on Tenant to compensate or reimburse Owner for the use of Agent, including any such commissions, fees or other payments arising from negotiating or entering into this First Amendment or any future amendment. 12. This First Amendment will be binding on and inure to the benefit of the Parties herein, their heirs, executors, administrators, successors -in -interest and assigns. IN WITNESS, the Parties execute this First Amendment as of the Effective Date. Owner: City of Arden Hills By: Print Name: Title: Date: Tenant: T-Mobile Central LLC, a Delaware limited liability company By: Print Name: Title: Date: 3 TMO / Sprint Site ID: AlN0511A TMO / Sprint Lease ID: 16898 5/21/2021 -fiRpEN HILLS MEMORANDUM DATE: September 23, 2024 TO: Honorable Mayor and City FROM: Jessica Jagoe, Interim City Administrator SUBJECT: Rice Creek Commons/TCAAP Discussion Budgeted Amount: N/A For Council Consideration Actual Amount: N/A AGENDA ITEM - 3D Funding Source: N/A Council will have the opportunity to comment on any TCAAP related items they so choose. Background N/A Budget Impact N/A Attachment N/A Page 1 of 1 AGENDA ITEM - 3E '!Tt -AII��EN_ HILLS MEMORANDUM DATE: September 23, 2024 TO: Honorable Mayor and City Councilmembers FROM: Jessica Jagoe, Interim City Administrator SUBJECT: Agenda Planning Budgeted Amount: Actual Amount: Funding Source: N/A N/A N/A Council Should Consider Council should discuss its next work session agenda. Background Per Council's adopted policy on agenda setting, please find proposed agendas below for upcoming meetings. October 141h Work session • Parks Master Plan Discussion (time sensitive) • State of the City (not time sensitive) • MVI Youth Hockey Association Discussion (not time sensitive) • RCC/TCAAP Discussion (not time sensitive) • Agenda Planning (time sensitive) October 281h Work session — Joint Meeting with the Planning Commission • Zoning Ordinance Review Discussion (time sensitive) • RCC/TCAAP Discussion (not time sensitive) • Agenda Planning (time sensitive) November 1 lth Work session • 2025 Budget Discussion (time sensitive) • 2025 Fee schedule (time sensitive) • RCC/TCAAP Discussion (not time sensitive) • Agenda Planning (time sensitive) Pagel of 2 Attached is the list of topics that have yet to be discussed by Council. Council may want to discuss if any items need to be added to this list for future discussion or assign a future meeting for some of these items. This would need to be done by a majority consensus of Council. Below is a running list of things Staff brings forward to work session annually, in recent years, we have shifted away from bringing some items forward unless needed, such as, the Pavement Management Update from Public Works. Note, these timelines may shift year to year. Most items discussed at work sessions are one-off items that may require multiple meetings but are usually not reoccurring. • January o Legislative priorities • February o None • March o Initial guidance on next year's Public Works projects • April o None • May o None • June o Follow up on next year's Public Works projects • July o Capital improvement planning • August o Operating budgets • September o Operating budget and levy discussion • October o State of the City (if planned for early following year) • November o City-wide budget and fee schedule o Follow up on next year's Public Works projects • December o Committee and commission appointments Budget Impact N/A Attachment Attachment A: Council Priorities Attachment B: Agenda Setting Policy Page 2 of 2 Attachment A [Rank 1 Fopic for Consideration Committee/Commission Goal Setting Likely Responsible Department Admin F Notes TBD 3 Volunteer Recognition (to Personnel first) Admin TBD 3 Speed Limit Old Snelling PW TBD 3 Trail Prioritization (Lake Jo versus Snelling Ave N) PW/Fin November 2024 Discussion 4 Climate Action Plan Admin TBD 4 Committee/Commission Membership Admin TBD 4 EV Fleet Analysis PW TBD 5 Energy audit Admin TBD 5 Porta potties IPW JTBD 6 EDA Membership Discussion CD/Admin Future EDA meeting 7 Community S ey Admin TBD Potential Ordinance Review Items: 1 tpic for Consideration Short-term Rental Ordinance Likely Responsible Depart en' CD/Admin TBD Z Rental Licensing Program CD/Admin TBD 4 Building Materials Update/Discussion CD JTBD Keeping of Ducks and Review Chicken Ordinance CD/Admin TBD Added items: Proclamation Policy Garbage Collection (MV Presentation?) Committee/Commission Liaison Role Policy Code of Conduct Door to Door Group Affiliation/Information With City Approved Policy Discussion Buy Nothing Day/Clean Up Day MNTWC Encroachment Discussion (2025) Attachment B It "ENILLS CITY OF ARDEN HILLS Agenda Setting Policy The purpose of this policy is to establish a method for agenda setting that allows for Council to review and have control over its agendas and decide as a Council how it wants items for consideration to be brought forward. For regular worksession agendas: • Prior to concluding each regularly scheduled worksession, the City Council shall review its next regularly scheduled worksession agenda and direct Staff on any changes. • Should an individual Councilmember want to raise an item for discussion at the next meeting or in the future, they would do so during this review period. The item would need at least one other Councilmember to agree to having the item considered for future discussion, and then Council, by majority, would direct to have it placed on a future agenda or not. Staff will have flexibility to add or remove items to the worksession as needed to maintain operational efficacy. For regular City Council meeting agendas: • Agendas will be largely Staff driven based on approvals needed for normal operations. • Items coming from the City Council shall first be discussed at a worksession and can direct Staff at said worksession to bring items forward for formal approval if needed. • In rare instances, if a Councilmember brings forward an item that needs approval prior to going to a worksession, they may request the City Administrator add the item to the agenda. The City Administrator shall have the discretion to determine if the issue should be added or not, but Councilmembers will make every effort to having the item first discussed at a worksession. Special meetings and emergency meetings: • Special meetings and emergency meetings may still be called at the discretion of the Mayor or any two Councilmembers, and the members calling the meeting shall set the agenda.