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City Council Regular Meeting Minutes July 14, 2026 Page 4 1 Operations Manager Anglum confirmed this was his hope, but that there may be difficulties with 2 acquiring supply due to shortages. 4 Councilmember Doolan appreciated the refreshed reporting metrics and noted their clarity and 5 ease of understanding. She expressed confidence in Retail Operations Manager Anglum in his 6 new role. 7 8 Councilmember Doolan asked if the soft launch at Marketplace was successful and what was 9 learned from the event. Retail Operations Manager Anglum expressed his appreciation for the 10 City Staff. He stated that the soft opening went as expected and that, due to construction delays, 11 the date was not widely advertised. He noted that this led to a smaller event, but that sales 12 numbers are growing. Retail Operations Manager Anglum reported that all of the customer 13 feedback has been positive so far. 14 15 Councilmember Doolan asked when the grand opening will be. Retail Operations Manager 16 Anglum stated it will be July 19, from noon to four p.m., but that they will be open regular hours 17 before and after the events. He highlighted that there will be drawings, cupcakes, a specialty 18 THC beverage made for the event, unique inventory options, and more. 19 20 Mayor Webster thanked Retail Operations Manager Anglum for his detailed mid -year report. 21 She thanked him for all his hard work and enthusiasm for the new stores. 22 23 C. Resolution 26-050 - Approving An Interfund Loan Between The Liquor Fund And The 24 Cannabis Fund. 25 26 Mayor Webster welcomed Finance Director Maloney to the podium to present on Resolution 26- 27 050. 28 29 Finance Director Maloney briefly provided an overview of the status of the cannabis dispensary 30 project. She informed the Council of the renovation and construction costs and provided a 31 detailed breakdown in the slides. She informed the Council that an interfund loan is needed 32 because startup expenses must be incurred before revenues are generated, and that the loan will 33 provide capital to complete the project and support initial operations. She stated that this will 34 help maintain the project timeline and financial stability, and that the loan amount will be 35 525,000 dollars. Finance Director Maloney informed the Council that this sum was reached by 36 evaluating costs for the dispensary renovation, inventory, and wages. She presented information 37 on the cannabis fund projection and noted that the projected numbers were averaged from 38 Anoka's data and adjusted to reflect St. Anthony's population and the dispensary's size. Finance 39 Director Maloney informed the Council of the loan repayment strategy, noting that repayments 40 will initially be made to the liquor fund in place of rent. After repayment of the loan, Staff will 41 re-establish an appropriate rental payment to the liquor fund. Finance Director Maloney finished 42 by expressing her support for approval of this resolution. 43 44 Mayor Webster thanked Finance Director Maloney for highlighting the calculation of the loan 45 amount and the repayment strategy. 46