The most significant topic of discussion was the approval of conduit debt financing for Metas Development Group, which aims to preserve affordable housing in Oakdale. Community Development Director Andy Gitsov presented the request for bonds totaling $14,542,550 to support the acquisition and rehabilitation of three affordable housing projects, including Gentry Town Homes. Gentry Town Homes offers 48 affordable units, with a contract expiring in 2027. The project aligns with Oakdale’s comprehensive housing plan and extends affordability for another fifteen years. The council had preliminarily approved the city’s role as a conduit bond issuer in May 2024. The funding involves a 1% issuance fee, with all application costs covered by the developer. Following a public hearing with no comments, the council unanimously passed the resolution to issue the bonds.

In another public hearing, the council addressed TIF District 212, focusing on the long-awaited redevelopment of parcels on Tanner Lake’s west side. The council had an exclusive rights agreement with Tanner Lake LLC for the site’s redevelopment, which will include a 178,000 square-foot building with 138 residential units. The project’s estimated cost is $48.6 million. The TIF amendment updates projections based on actual costs since the district’s 2017 creation. It includes a purchase and development assistance agreement, where the developer will pay $22.4 million for the property, starting with an upfront payment of $1.4 million. Financial assistance of $2.5 million will be structured as an interest pay-as-you-go note over twenty years. Despite one council member’s opposition to TIFs, the resolution passed with one dissenting vote.

The council also canvassed the November 5, 2024 election results. Gary Severson and Carri Moore were congratulated as the winners for two city council seats. Carrie Moore was sworn in during the meeting, filling a vacated seat. The election saw nearly 80% voter turnout, with a successful approval of a local sales tax question intended to address funding gaps caused by inflation. This tax aims to avoid raising property taxes while funding necessary capital projects.

In addition to election matters, the council received updates from advisory boards and commissions. The Economic Development Commission reported on business retention and expansion efforts, and the Planning Commission discussed zoning code changes. The Finance department detailed the 2024A bond issuance, totaling $24 million at a 3.77% interest rate, for city projects like street reconstruction and park improvements.

Human Resources presented policy amendments, including bereavement leave and an out-of-class pay policy, both of which the council approved. The department also acknowledged the election of a new mayor for the city of Empire, Minnesota. The council approved a request for on-site gambling for Climb Theater at Pins in Oakdale and announced a community donation of $705 for the fire department to purchase five New York hooks.

Upcoming community events were highlighted, such as the Oakdale indoor market on November 16 and the Oakdale art fair on November 23 at the Discovery Center. These events encourage residents to support local vendors and artists. The council also launched a community survey to gather feedback on city services, available online from November 14 to December 5.