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September 23, 2025 Saint Anthony Council Work Session - 2 in Maple Grove. Councilmember Jenson referred to the TIF District, and TIF money is received after the project is complete. Mr. Doran stated that the payments for any TIF note are based on the increment generated. Until tax is generated in Phase II, the monies are not paid. The TIF's last payment is in 2031. There is not enough time to obtain full gain. There are mechanisms to extend the TIF window, and research needs to be done to see if this project would qualify. This is a redevelopment district. Councilmember Jenson asked if Doran is totally committed to finishing this project, and Mr. Doran stated they most definitely are. They have made a significant investment in the project. Councilmember Jenson stated he knows some residents who are happy living there. Mayor Webster stated it was helpful for her to understand the reasons for phasing as explained. Currently, in St. Anthony, there are 4400 rental units. 10% of housing would be new housing with the completion of Phase II. Councilmember Doolan stated that TIF is a tool to incentivize growth and has a significant impact on Silverlake Village. It also shifts the cost burden of providing additional services to homeowners. It is a tool that has had a challenging result for the community. There is a growing need for city services, but no base to pay for them. That is one of the things they are trying to balance. One of the other things she learned is the unintended consequences of increasing the population. This puts more stress on residents who live in housing that is affordable. This puts a burden on seniors, especially those living in the Legends. Some pay up to 80% of their income because of rent increases. She referred to the strategic plan and the need for affordable housing. She referred to Met Council and County programs and resources for affordable housing. This project was not set up with any affordable requirements. She would like to ask if that can be considered when asking for help in bringing in other regional resources to help with funding. She asked what the need is right now for the same type of matching project right next to it. There is a significant senior community that will be looking at moving into independent community living in the next decade. She has a friend who has been on Hayden Grove’s wait list since they opened, and she is now #50 on the list. There is a significant demand in the community for senior housing specifically. She asked Mr. Doran if he was willing to look at other alternatives to make it more of a development that fits a different community need now. Mr. Doran stated he respects her concerns and her desire to create housing for all people, both demographically and across the price spectrum. Their organization is classically a market-rate developer. When they add housing at the market rate level, how does that impact affordable, NOAH, or senior housing? Their project in Maple Grove is an active adult project, and it is the first time they have looked at doing senior-oriented housing. He understands the need to think through and design, as a City, an inclusive process that also invites lots of different types of housing. The challenge with affordable housing in general is that there is an AMI threshold with a government tie-in. A certain percentage of units is set aside for certain AMI. It takes a unique set of funding sources. 100% of the equity comes from some form of grant program in some part, but also, substantially, the money comes from tax credit investors. Most lenders specialize in affordable or market-rate housing. There are only a few that do both. This is especially challenging when the buildings are connected or have different phases. They had discussions with Ramsey County several months ago about whether there was an opportunity for an equitable interest in aligning their affordability goals and policies with what they could provide. There is such a cost burden on affordable housing, and it needs to be funded typically with those tax credit investors. Most affordable housing developers are non-profit and are tax-free as an entity. Mr. Doran explained the difference between Active Adult and traditional Senior Housing. He shared some of their market research findings. Councilmember Doolan asked about the energy standards they follow in their development. Mr. Doran stated they reserve 20% of their parking spaces for electric vehicle charging infrastructure. They work closely with Xcel Energy for construction recommendations concerning energy. Councilmember Doolan 4