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Mounds View EDA January 9, 2006 Regular Meeting Page 4 Commissioner Flaherty stated he wanted to raise the issue of streets since another tie-in is the quality of life for future Medtronic employees and residents. He stated he is not implying that would be a number one or two priority, but he believes it should be discussed. President Marty expressed his support for money for the streets since the Medtronic campus will result in an increase in traffic. He stated he was somewhat encouraged when he learned of the negotiations and thanked Public Works Director Lee for raising the issue of Well #4. He noted that if the City had to construct a well, it would cost millions of dollars and this will assure an adequate water supply. President Marty reviewed that several years ago, during a drought when everyone was watering their lawns, Wells #1, #2, and #3 were pumping almost non-stop during the day and had to refill the water tower during the night. He explained that putting Well #4 on line was previously a concern to him due to an issue of contaminants. Several years ago, the Council had considered blending that well with other water but rather than providing “adequate” water, he would like to provide “good” water to Mounds View residents. He noted that the Medtronic water requirements will be greater so he considers it a “carrot” if Medtronic is willing to come on board with that. Vice President Stigney asked if there will be park dedication fees with Phase 2. Economic Development Coordinator Backman stated there will not be since Phase 2 is not associated with a land sale or transfer. Vice President Stigney asked about the cap. Shelly Eldridge, Ehlers & Associates, advised there is a total of $22.9 million of present value at 5%. She stated some of the costs could be funded outside of TIF if Medtronic is willing to do so. Ms. Eldridge stated they are waiting for the feasibility study to get a better number to work with. City Administrator Ulrich advised that a feasibility study is also being conducted on the underground utilities. Economic Development Coordinator Backman recapped that the EDA considers Well #4 to be a higher priority than the sound wall. He asked which road projects the EDA has in mind. Commissioner Flaherty stated he wanted road projects raised as a discussion item and he would be suggesting a contribution to the general street fund. Commissioner Gunn stated she supports consideration of roads in the northern area of Mounds View because Medtronic traffic will be coming on Highway 10 and using Red Oak Drive or Long Lake Road and County Road J.