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City Council accepted committees’ recommendation to <br />proceed to negotiate with Tap & Ladder and Machete. <br />Appraisals, survey, and environmental phase 2 have been <br />completed. Purchase agreement discussion to come back <br />to City Council in Qtr 1 2026. <br />•Create working group of property owners <br />(City, 834, Fury) to establish a work plan <br />for redevelopment <br />Valley Community Center signed a purchase agreement <br />for the school site in December 2025 <br />Start development process for 180-acre <br />parcel • <br />•Explore and develop plan for future of old <br />city hall <br />•February 2025-Working with Washington County to <br />identify three polling place locations not including old city <br />hall. <br />•Workshop scheduled for 10/14/205 to discuss condition <br />of building, staff comments, options and pros and cons. <br />•Staff contacted a broker who will provide a broker’s price <br />opinion for the old city hall and a cost to renovate in <br />January 2026 <br />Balance finances consistent with current needs and future growth. <br />•Develop comprehensive financial strategy <br />that encompasses multiple long-term <br />goals <br />City Council approved purchase of more comprehensive <br />Financial Management Software 3/4/2024. <br />Implementation scheduled for Q1 2026. <br />New capital levies implemented in 2025 and continued in <br />2026, to fund long-term capital needs. <br />Finance staff drafted tentative time line for Long term <br />financial strategic plan discussions and creation of <br />scenario testing tool. <br />Finance staff presented preliminary financial planning <br />assumptions at the October 2025 workshop. <br />Analyze and assess water, sewer, and <br />street light fees <br />Water/sewer fees updated Q1 2025. <br />Staff researching street light obligations in Lake Elmo and <br />financial impact.