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2026/04/13 - ADMIN - Agenda Packets - City Council - Study Session
AGENDA APRIL 13, 2026 6:00 p.m. 2026 St. Louis Park Local Board of Appeal and Equalization – Council Chambers Action item 1. Convene the St. Louis Park Local Board of Appeal and Equalization Following LBAE meeting - Study session – Community Room Discussion items 1. PTMA Financial Solutions investment update and investment 101 2. Neighborhood funding discussion Written reports 3. Advisory commissions communications to city council - workplan updates Members of the public can attend St. Louis Park Economic Development Authority and city council meetings in person. At regular city council meetings, members of the public may comment on any item on the agenda by attending the meeting in-person or by submitting written comments to info@stlouisparkmn.gov by noon the day of the meeting. Official minutes of meetings are available on the city website once approved. Watch St. Louis Park Economic Development Authority or regular city council meetings live at bit.ly/watchslpcouncil or at www.parktv.org, or on local cable (Comcast SD channel 14/HD channel 798). Recordings of the meetings are available to watch on the city's YouTube channel at www.youtube.com/@slpcable, usually within 24 hours of the meeting’s end. City council study sessions are not broadcast. Generally, it is not council practice to receive public comment during study sessions. The council chambers are equipped with Hearing Loop equipment and headsets are available to borrow. If you need special accommodations or have questions about the meeting, please call 952.924.2505. Meeting: Local Board of Appeal and Equalization Meeting date: April 13, 2026 Action agenda item: 1 Executive summary Title: 2026 St. Louis Park Local Board of Appeal and Equalization Recommended action: Chair Brausen to convene the meeting, following agenda is suggested: 1. Convene the St. Louis Park Local Board of Appeal and Equalization 2. Roll Call of Board Members – Declaration of Quorum 3. Acknowledgement of Certified Trained Members (Nadia Mohamed and Sue Budd) 4. a. Accept Roster of Appellants b. Call for Any Additional Appellants 5. If necessary – Motion to set Date and Time for Continued Proceedings (Reconvene) Suggested as April 27, 2026, time TBD depending on appeal count at this meeting 6. Instruct Assessor to: a. Inform Appellants of Reconvene Date and Board Process via Telephone and Mail b. Inform Appellants of the County Board Application Date (May 20 Requested) c. Re-Inspect and Re-Appraise Parcels Under Appeal 8. Completion of the Local Board Certification Form 9. Motion to Recess Policy consideration: Local Boards and/or Open Book Meetings are required by law. The Board must complete its business within 20 days (April 13 is day one, May 2 is therefore the deadline). Summary: Minnesota statute requires that all properties are valued at full market value. All property owners, tenants and those having an interest in real property are entitled to appeal their classification and market value. The property classification is determined by the actual use of the property. The market value is an opinion based on records maintained for every property and the market conditions as of the date of assessment (January 2). Financial or budget considerations: Not applicable for budgeting from the perspective of the taxing jurisdictions. Changes made by the Board may affect the property owner’s share of the total property tax budgets levied for the Payable 2027 tax period. Strategic Priority Consideration: Not applicable. Supporting documents: Summary of duties and responsibilities Sample letter – to be sent to each appellant on April 14 Board of Appeal and Equalization Handbook (state.mn.us) Board of Appeal and Equalization Training | MN Department of Revenue Prepared by: Cory Bultema, city assessor Reviewed by: Cheyenne Brodeen, administrative services director Approved by: Cindy Walsh, deputy city manager Local Board of Appeal and Equalization of April 13, 2026 (Item No. 1) Page 2 Title: 2026 St. Louis Park Local Board of Appeal and Equalization SUMMARY OF DUTIES AND RESPONSIBILITIES Local Board of Appeal and Equalization Most of the responsibilities listed under the Local Board of Appeal and Equalization are statutory, primarily found in Minnesota Statutes 274.01. Useful references provided by the Minnesota Department of Revenue (MN DOR) may be accessed via links on page 1. These include the handbook outlining board operations as well as direct access to the on-line training program required to become a certified board member. • The valuation notices shall be in writing and sent by ordinary mail at least ten calendar days before the meeting. The valuation notice will include the date, place and time set for the meetings of the Local Board of Appeal and Equalization as well as the County Board of Appeal and Equalization. • The city clerk shall give published notice and posted notice of the meeting. The meetings must be held between April 1 and May 31 including reconvene meetings. The board must complete its work and adjourn within 20 calendar days – convene date is day one. In terms of practical compliance, the Local Board should not run later than early May for the County Board to effectively operate within its statutory time window (application in May, Board convenes in June). • The Local Board of Appeal and Equalization is an official public meeting like a city council public hearing and cannot convene without a quorum. The city assessor and applicable staff are required to attend. The county assessor, or one of their assistants, is also required to attend for compliance assurance although has no other authority for a local board function. • At least one member present at each meeting of the Local Board of Appeal and Equalization must be certified as having completed the MN Department of Revenue Board of Appeal and Equalization training. Training is good for four board years as formally listed on the MN Department of Revenue record. Training after February 1 applies to the following year board cycle. • The board should run the meeting as a fair and impartial review of the appeals. The property owner is the appellant, and the assessing staff are the respondent. The board may ask questions to clarify facts and background. It is suggested all open appeals are heard before the Board begins deliberations on each. • Local Boards of Appeal and Equalization must see that all taxable property is properly valued and classified for the current assessment year only. The board does not have the authority to reopen prior assessments on which taxes are due and payable (taxes may not be appealed). The board may add a property to the assessment roll if it has been omitted. • Individual board members cannot participate in actions or discussions of appeals involving their own property, property of relatives, or property in which they have a financial interest. • The Local Board may not increase or decrease all assessments in a district of a given class of property. The Local Board may add omitted property should it be necessary. • The Local Board may not make a market value or classification change that would benefit the property in cases where the owner or other person having control over the property will Local Board of Appeal and Equalization of April 13, 2026 (Item No. 1) Page 3 Title: 2026 St. Louis Park Local Board of Appeal and Equalization not permit the assessor to inspect the property and the interior of any buildings or structures. • Although the Local Board of Appeal and Equalization has the authority to sustain, increase or decrease individual assessments, the total adjustments must not reduce the aggregate assessment by more than one percent. If the total reductions exceed one percent, all adjustments are negated. The assessor shall correct any clerical errors or double assessments discovered by the board without regard to the one percent limitation. • If an assessment was made after the local board meeting or if a taxpayer can establish not having received the notice of market value at least five days before the meeting, they can appeal to the County Board of Appeal and Equalization. • The board may find instances of undervalued properties. The board must notify the owner of the property that the value is going to be raised. This potential for an increase is clearly stated in the letters sent out following the first board meeting. The property owner must have the opportunity to appear before the board if they wish. • The boards do not have the authority to address exemption issues. The boards do not have jurisdiction over special programs for which an application process is required (Homestead, Disabled Veterans, Blind/Disabled, Low Income Rental Classification, Green Acres, etc.). • A taxpayer may appear in person, by authorized representative, or written communication to present his or her objection to the board. The focus of the appeal should center on the factors influencing the estimated market value or classification placed on the property. • All changes will be entered into the record as required by the MN Department of Revenue. • Before adjourning, the local board should direct preparation of an official list of the changes. The law requires that the changes be listed on a specific form. All assessments that have been sustained, increased or decreased should be shown on the form along with their market values. • Directive from the Department of Revenue (2017): the Board is required to hear appeals from date of the published meeting through adjournment. A comment: It had been the practice of the St. Louis Park Board to close the roster at the completion of the initial convene meeting date as formally published – the directive effectively eliminates roster closure until adjourned. To comply, it is recommended that the Board decide last moment appeals on a case-by-case basis as best possible. Action may include resolving the appeal or simply accepting the appeal with no change to preserve the owner’s right to be eligible to the County Board. • Following each board meeting, a letter is sent to the owner of each property in appeal. The sample letter following the initial convene meeting is attached. • At the convene meeting on April 13, 2026, the Board will be given two outlines to assist in conducting an efficient and productive meeting. The first is the Agenda as the Board process is quite specific in format. The other will be the Board appellant roster which is updated at 4:30 p.m. Local Board of Appeal and Equalization of April 13, 2026 (Item No. 1) Page 4 Title: 2026 St. Louis Park Local Board of Appeal and Equalization SAMPLE LETTER TO ALL BOARD ROSTER PROPERTIES April 14, 2026 Address Line 1 Address Line 2 City/State Line 3 Re: St. Louis Park Local Board of Appeal & Equalization «Property_Address» Property ID #: XX-XXX-XX-XX-XXXX Dear appellant name: We are reaching out about your 2026 property valuation appeal. The Board met on April 13 and entered the property referenced above onto the appeal roster. You are receiving both a telephone call and this written communication to inform you that a meeting for the Board to review your appeal has been scheduled for 6:00 pm on April 27, 2026. The meeting will be at city hall in the Council Chambers. Appeals will be reviewed at this meeting. The following are important for you to know: • The Board encourages assessing staff and owners to discuss the valuation questions and attempt to resolve them ahead of time to mutual agreement. This is an important part of the Local Board process. If an agreement is made it will be reported to the Board. While it is common that the Board ratifies the mutual agreement, the Board is the final decision maker on the issue. This method of resolution is often preferred by property owners as it is not necessary to prepare presentation materials or to provide testimony before the board. • For the cases that are not resolved, the following format and process are outlined to assist you in the next steps on how the Local Board functions. There are several important details; please reach out to me with any questions during the process. o If your property is income producing (i.e., rental), please submit a building floorplan showing gross and net rentable square footages, rent roll as of the assessment date, complete copy of the executed lease(s), annual income & expense statement for the prior year and the budget forecasted for the current year. This information will be reviewed for valuation via the Income Approach. The information submitted will be held confidential and not released to the public. Failure to provide the information will result in my formal request to the Board to sustain the value due to the refusal to provide information that is highly relevant. o The Board has directed that they will review written information regarding your opinion of the market value before the meeting. We strongly recommend factual transactions (sales, rents, construction costs) that relate directly to your property. Local Board of Appeal and Equalization of April 13, 2026 (Item No. 1) Page 5 Title: 2026 St. Louis Park Local Board of Appeal and Equalization The assessed market values for all property types are set using market information in the time-period just before the assessment date (January 2, 2026). This is very important in setting the assessment as the value influences are equalized for each parcel throughout the community relative to the market at that point in time. o Assessing staff likewise prepares written information on each open appeal and submits it to the Board prior to the meeting. You will be notified ahead of time if this review results in a recommendation to increase the value. If you would like your materials to be included in the Board packet, please provide it to me by e-mail attachment by 12:00 Noon on Tuesday April 21 to allow time for addition to the Board packet. Regarding written materials submitted at the Board meeting on April 27 … please bring 12 complete copies for distribution to Board members and relevant parties. • The Board has directed that they will hear testimony during the meeting. When mutual agreement cannot be reached ahead of time, the Board hears the case. You, as the appellant, are allowed 5-10 minutes to present written and verbal information on the market value. The assessing staff, as the respondent, are allowed 3-5 minutes to review their information and value conclusion. The Board hears the information and decides the market value and/or classification as of January 2, 2026. • The Board has full authority to sustain, increase, or decrease individual assessments. In the event that the assessing staff revaluation review concludes a recommendation to the board for a market value increase – you will be notified prior to the meeting. • The Board does not have authority to reopen prior assessments. The Board does not have authority to change current and past real estate taxes. • If the Assessing staff has not already inspected your property within the last year, they must complete an interior and exterior inspection to form the basis of a revaluation. Important: Refusing access precludes the Board from taking action that would benefit the owner (MN statute 274.01). • You will be notified via letter of the Board action. If you do not agree with the Local Board decision, you are eligible to attend the Hennepin County Board of Appeal & Equalization which convenes in June. An application to appear before the County Board is requested by May 20, 2026. If you have any further questions on the Local Board process, do not hesitate to contact me directly. Cory Bultema, City Assessor Assessing Office | City of St. Louis Park 5005 Minnetonka Blvd, St. Louis Park, MN 55416 Direct: 952.924.2536 | Fax: 952.924.2170 www.stlouisparkmn.gov Experience LIFE in the Park Meeting: Study session Meeting date: April 13, 2026 Discussion item: 1 Executive summary Title: PTMA investment update and investment 101 Recommended action: No action needed. The information that is presented by PTMA Financial Solutions is informational update related to the city’s cash and investment holdings. Policy consideration: No policy considerations are needed. Summary: During the first quarter of 2025, the finance division conducted a Request for Proposal (RFP) process to select an investment management firm to manage the city’s long-term investment assets (greater than one year maturity). The city selected PTMA Financial Solutions from the RFP that was issued and PTMA began its services on May 8, 2025. The city’s long-term assets are held in custodial at US Bank. The city is a member of the League of Minnesota Cities 4M Fund (Minnesota Municipal Money Market) which is where the city holds short-term investments (maturities no greater than one year). PTMA Financial Solutions are the investment managers of the LMC 4M Fund. With PTMA being the investment managers of both the city’s long-term investments held at US Bank and PTMA managing the 4M fund, PTMA is able to provide an update of all city holdings. It has been approximately one year since PTMA began management services. It is now the end of first quarter in 2026; PTMA will provide an overview and update on the city’s portfolio holdings as well as providing a presentation on local government investments. PTMA has provided the attached portfolio review presentation, which summarizes the city’s holdings. Financial or budget considerations: No considerations; informational discussion about the city’s investments. Strategic priority consideration: Not applicable. Supporting documents: Discussion, PTMA Presentation Prepared by: Joe Olson, acting finance director Reviewed by: Cheyenne Brodeen, administrative services director Approved by: Cindy Walsh, deputy city manager Study session meeting of April 13, 2026 (Item No. 1) Page 2 Title: PTMA investment update and investment 101 Discussion Background: During the first quarter of 2025, the finance division conducted an RFP process to select an investment management firm to manage the city’s long-term investment assets (greater than one year maturity). The city selected PTMA Financial Solutions from the RFP that was issued and PTMA began its services on May 8, 2025. The city’s long-term assets are held in custodial at US Bank. The city is a member of the League of Minnesota Cities 4M Fund (Minnesota Municipal Money Market) which is where the city holds short-term investments (maturities no greater than one year). PTMA Financial Solutions are the investment managers of the LMC 4M Fund. With PTMA being the investment managers of both the city’s long-term investments held at US Bank and PTMA managing the 4M fund, PTMA is able to provide an update of all city holdings. It has been approximately one year since PTMA began management services. It is now the end of first quarter in 2026; PTMA will provide an overview and update on the city’s portfolio holdings as well as providing a presentation on local government investments. Present considerations: City cash and investment’s structure The city cash and investment’s structure changed over the past two years with the city finance conducting an RFP for banking and custodial services for the city’s long-term investments as well as conducting an RFP of the investment management services of the custodial long-term account. The city selected US Bank for banking services. The banking services are linked as a sweep account with the League of Minnesota Cities 4M Fund which is a money market fund. The operating account sweeps daily to the 4M account that is managed by PTMA. The custodial services of our long-term investments are held at US Bank that was selected in an RFP process which are managed as well by PTMA from the results of our RFP for investment managers. As PTMA is the investment manager of both short-term and long-term investments for the city, city staff is updated regularly related to city-wide cash and investment balances as well as cash flow projections to ensure funds are properly invested. Restrictions on city investments City investments are highly restricted; the city is limited to only make specific types of investments. The city must follow Minnesota State Statute 118A.04 (investments) as well as being compliant with the city’s investment policy as documented in section x (investment parameters) of the financial management policy. Local governments in the State of Minnesota must follow statute 118A.04 which creates strict guardrails to ensure public money is invested in investment types that provide a lower risk of holdings of public funds. The city’s investment policy adds a greater level of restriction from the state statute adding restrictions related to the amount of concentration of investment type, issuer maximum, as well as the maximum maturity of investment type. Study session meeting of April 13, 2026 (Item No. 1) Page 3 Title: PTMA investment update and investment 101 PTMA Financial Solutions provides the city with the assurance that we are compliant with both state statute and city policy with the holdings that the city maintains. Finance team members are able to access PTMA’s investment software for verification of compliance as well as receiving monthly reports with compliance verification. (Remainder of page intentionally blank) City Investment Parameters Sector Sector Maximum (%) Per Issuer Maximum (%) Minimum Ratings Requirement1 Maximum Maturity U.S. Treasury 100% 100% N/A 7 Years (7 year avg. life for GNMA) GNMA 40% Other U.S. Government Guaranteed (e.g. AID, GTC) 10% Federal Agency/GSE: FNMA, FHLMC, FHLB, FFCB 75% 40%4 N/A 7 Years Federal Agency/GSE other than those above 5% Municipals (Revenue) 25% 5% Highest ST or Two Highest LT Rating Categories (SP-1/MIG 1, AA-/Aa3, or equivalent) 7 Years Municipals (General Obligations) Highest ST or Three Highest LT Rating Categories (SP-1/MIG 1, A-/A3, or equivalent) Collateralized Bank Deposits 50% None, if fully collateralized None, if fully collateralized. 7 Years FDIC-Insured Bank Deposits 100% FDIC limit for insurance None, if fully FDIC-insured. 7 Years Commercial Paper (CP) 25%2 5%3 Highest ST Rating Category by two NRSROs (A-1/P-1, or equivalent) 270 Days Bankers Acceptances (BA) 15% 5%3 Highest ST Rating Category by two NRSROs (A-1/P-1, or equivalent) 270 Days Intergovernmental Pools (LGIPs) 100% 100% Highest Fund Quality and Volatility Rating Categories by all NRSROs, if rated N/A (AAAm/AAAf, S1, or equivalent) Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 4 Next steps: City staff will provide the council informational reporting regarding city cash and investment holdings on a routine basis. Notes: 1 Rating by at least one SEC-registered Nationally Recognized Statistical Rating Organization (“NRSRO”), unless otherwise noted. ST=Short- term; LT=Long-term. 2 Maximum allocation to all corporate and bank credit instruments is 25% combined. 3 Maximum across all non-government permitted investment sectors (excluding Treasuries, U.S. Federal Agencies and Agency MBS) is 5% combined per issuer. 4 Maximum exposure to any one Federal agency, including the combined holdings of Agency debt is 40%. Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 5 CITY OF ST. LOUIS PARK - COUNCIL STUDY SESSION PORTFOLIO REVIEW April 12, 2026 Corey Boyer VP, Investment Services PTMA Financial Solutions Kendra Shelland VP, Institutional Portfolio Manager PTMA Financial Solutions Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 6 PUBLIC FUNDS INVESTING 101 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 7 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . MN STATE STATUTE 118A – ALLOWED INVESTMENTS US TREASURY/AGENCY SECURITIES BANK PRODUCTS MUNICIPAL BONDS LGIP’S/MONEY MARKETS OTHER Please refer to the disclosure slide of this presentation for more information.3 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 8 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . CREDIT RISK TREASURIES AGENCIES BANK DEPOSIT PRODUCTS - CDs MUNICIPAL BONDS US AGENCY-BACKED MORTGAGES RE T U R N P O T E N T I A L RISK COMMERCIAL PAPER Please refer to the disclosure slide of this presentation for more information.4 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 9 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . INVESTMENT POLICY Control Document - Defines the parameters for investing city funds Defines objectives •Safety, Liquidity, Yield Investment policy parameters/restrictions are incorporated into our trading platform to ensure both pre- and post-trade compliance with the policy Please refer to the disclosure slide of this presentation for more information.5 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 10 ‹#› Co p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . | PORTFOLIO STRATEGY Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 11 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . PORTFOLIO UPDATE Please refer to the disclosure slide of this presentation for more information. Past performance is no guarantee of future results. *Aim to maximize income potential though increased $ in longer mandates* An Efficient Cash Flow: •Ensures sufficient liquidity is maintained •Allows for more accurate liability alignment •Identifies fund reserves for additional investment opportunities Source: Bloomberg Analytics as of 2/28/26 FINANCIAL PLANNING: TOTAL PORTFOLIO 0-3mos US Treasury Bill 9-12mos US Treasury 1-3y US Treasury&Agency 1-10y US Treasury&Agency 1-3 Yr US Corp & Govt 1-10 Yr US Corp & Govt 1-5yr US Corp & Govt 1-5y US Treasury&Agcy Bloomberg U.S. Agg Intermediat 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 Re t u r n Duration 4M Multi- Class 4M LTD Reserve Portfolio 7 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 12 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . PORTFOLIO UPDATE Goals / Objectives •Maintain Sufficient Liquidity •Maximize Investment Income FINANCIAL PLANNING: TOTAL PORTFOLIO Source: PTMA Financial Solutions. Data as of 3/13/26 Although information contained in the cash flow illustration have been obtained from third party sources believed to be reliable, PTMA cannot guarantee the accuracy or completeness of such information. No representation is made that any results indicated will be achieved. Changes to any assumptions contained herein may have an impact on results. Please refer to the disclosure slide of this presentation for more information.8 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 13 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . INVESTMENT BALANCES Sources: PTMA 3.0 and Clearwater Analytics as of 03/31//26Please refer to the disclosure slide of this presentation for more information.9 28,925,596.42 5,149,427.34 55,769,159.49 - 10,000,000.00 20,000,000.00 30,000,000.00 40,000,000.00 50,000,000.00 60,000,000.00 4M Multi-Class Fund 4M LTD Fund Long-Term Portfolio Balances by Portfolio Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 14 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . 4M MULTI-CLASS AND LIMITED TERM DURATION FUNDS 4M Liquid Asset Class Daily liquidity Full set of banking services available $1 share price every day Interest earnings paid monthly 4M Plus Class Potential for higher yield 14-day aging for new deposits $1 share price every day Interest earnings paid monthly 4M Multi-Class Fund Pooled vehicle for intermediate- to longer-term reserves Targeted duration in the Fund of 1-year All investment purchases in the LTD Fund are MN State Statute 118A compliant Floating net asset value (NAV) 4M Limited Term Duration (LTD) Fund Please refer to the disclosure slide of this presentation for more information. Visit 4mfund.com to view current rates 10 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 15 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . 4M FUND MULTI-CLASS FUND YIELDS Source: PTMA Financial SolutionsPlease refer to the disclosure slide of this presentation for more information.11 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 16 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . $5M deposited back on 6/23/2025 at NAV 11.181 As of 3/31/26 current NAV is at 11.510 As of 3/31/26 7-Day Net Market Yield 3.53 4M LTD FUND HISTORICAL NAV Source: PTMA 3.0 as of 3/13/2026 11 11.1 11.2 11.3 11.4 11.5 11.6 6/ 2 3 / 2 0 2 5 7/ 7 / 2 0 2 5 7/ 2 1 / 2 0 2 5 8/ 4 / 2 0 2 5 8/ 1 8 / 2 0 2 5 9/ 1 / 2 0 2 5 9/ 1 5 / 2 0 2 5 9/ 2 9 / 2 0 2 5 10 / 1 3 / 2 0 2 5 10 / 2 7 / 2 0 2 5 11 / 1 0 / 2 0 2 5 11 / 2 4 / 2 0 2 5 12 / 8 / 2 0 2 5 12 / 2 2 / 2 0 2 5 1/ 5 / 2 0 2 6 1/ 1 9 / 2 0 2 6 2/ 2 / 2 0 2 6 2/ 1 6 / 2 0 2 6 3/ 2 / 2 0 2 6 4M Limited Term Duration Fund - NAV Please refer to the disclosure slide of this presentation for more information.12 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 17 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . Source: Clearwater Analytics as of 03/31/26 PORTFOLIO UPDATE Please refer to the disclosure slide of this presentation for more information. Values may not total 100% due to rounding Past performance is no guarantee of future results. Net Returns have not been calculated for March. Net returns are estimates and preliminary. AUM $56 Million IndexOperating ReservesCharacteristics 3.94.0Market Yield (%) 2.62.4Duration (years) AA+AACredit Quality Benchmark: ICE BofA US Treasury & Agency 1-5yr RESERVE PORTFOLIO 34% 1%47% 14% 4% 0.2% Sector Allocation U.S. Treasury U.S. TIPS Agency Mortgage- Backed Securities Taxable Municipal Certificates of Deposit Cash/Money Market 0.44% 3.78% 0.45% 3.86% 0.15% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% First Quarter 2026 Since Inception Net Return Gross Return Benchmark 13 Portfolio Inception Date: 05/08/2025 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 18 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . FINANCIAL STRATEGIES FOR PEACE OF MIND –Client Service Focus –Disciplined Investment Philosophy –History of Results –Your Trusted Advisor Please refer to the disclosure slide of this presentation for more information.14 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 19 ‹#› Co p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . | MARKET & ECONOMIC OUTLOOK Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 20 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . PTMA MARKET OUTLOOK Divided Fed Paused, But Remains Biased for Further Cuts in 2026 Labor Market Concerns Will Persist Inflation to Decline Gradually Market Volatility Elevated Due to Shifting U.S. Policy and Geopolitical Risks Corporate Balance Sheets and Earnings Remain Healthy Overall Fed Outlook and Earnings Expectations Support Markets Please refer to the disclosure slide of this presentation for more information.16 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 21 | C o p y r i g h t © 2 0 2 6 P T M A . A l l R i g h t s R e s e r v e d . DISCLOSURE Public Trust Advisors, LLC, PMA Financial Network, LLC, PMA Securities, LLC and PMA Asset Management, LLC are under common ownership as part of PTMA Financial Solutions, LLC ("PTMA"). Public Trust Advisors, LLC and PMA Asset Management, LLC, are two separate SEC registered investment advisers, both doing business as PTMA Investment Advisors. PMA Securities, LLC is a broker-dealer and municipal advisor registered with the SEC and MSRB and is a member of FINRA and SIPC. Registration with the SEC does not imply a certain level of skill or training. Marketing, securities, institutional brokerage services and municipal advisory services are offered through PMA Securities, LLC. PTMA Investment Advisors provides investment advisory services to local government investment pools ("Funds") and separate accounts. All other products are provided by PMA Financial Network, LLC. This is intended for a one-on-oneௗdiscussion to review your account performance and holdings for a specificௗperiod of time. This is notௗintended for a broader audience and should only be distributed within the client’s organization.ௗௗ Data unaudited. The information contained herein has been obtained from sources that we believe to be reliable, but its accuracy and completeness are not guaranteed. The information presented herein is for general information purposes only and is the opinion of PTMA. It is not a specific/buy sell recommendation. Investing involves risks, including the possible loss of the amount invested. In addition, past performance is no indication of future performance and the price or value of Investment in securities investments may fluctuate. Asset allocation does not assure or guarantee better performance and cannot eliminate the risk of investment losses. You should consider certain economic risks (and other legal, tax, and accounting consequences) prior to entering into any type of transaction with PTMA. PTMA and its employees do not offer tax or legal advice. You should consult with your tax and/or legal advisors before making any tax or legal related investment decisions. Any terms discussed herein are preliminary until confirmed in a definitive written agreement. 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For more information visit www.pmanetwork.com or www.ptma.com. ©2026 PTMA Financial Solutions 17 Study session meeting of April 13, 2026 (Item No. 1) Title: PTMA investment update and investment 101 Page 22 Meeting: Study session Meeting date: April 13, 2026 Discussion item: 2 Executive summary Title: Neighborhood grant program funding discussion Recommended action: No formal action is being requested. Policy consideration: Council is asked to provide direction on: 1.The primary priority for the neighborhood grant program’s funding formula 2.The final funding formula for 2026 and beyond 3.How to address unspent program funds Summary: Following the neighborhood program discussion on Feb. 17, 2026, council members expressed interest in exploring alternative funding structures and allocation methods for the program. In response, staff conducted an analysis of the current budget, participation levels and the existing tiered needs-based model to help shape recommendations for 2026 and beyond. Staff will now bring different funding formula options to the council to ensure clarity on and alignment with the council’s desired approach. Rather than relying only on group discussion, staff will guide council through an activity to identify the body’s primary objective related to how funds are allocated in the program. Following the activity, council will be asked to make a final determination of the funding formula, whether the budget allocation should fully fund the program liabilities, and how to address unspent program funds. Financial or budget considerations: Budget impacts to be determined once policy decisions are made by council. Current allocated funding is $50,000 annually through the General Fund. Strategic priority consideration: St. Louis Park is committed to being a city that delivers reliable services, uses city resources responsibly, operates transparently and builds strong relationships with residents. Supporting documents: Discussion Prepared by: Pat Coleman, community engagement coordinator Reviewed by: Cheyenne Brodeen, administrative services director Approved by: Cindy Walsh, deputy city manager Study session meeting of April 13, 2026 (Item No. 2) Page 2 Title: Neighborhood grant program funding discussion Discussion Background: In 2024, an analysis of Neighborhood Grant Program spending prompted a comprehensive review of the program. The analysis included a look at the program’s history and participation, an examination of its legal authority and alignment with public purpose, and an evaluation of the program through an inclusion lens. Based on this review, staff presented the findings to the council and asked whether they wished to continue the program. If so, the council needed to determine the preferred funding formula and the overall program allocation. In February 2025, following council discussion, the council authorized the Neighborhood Grant Program, approved an annual budget of $50,000, and adopted a needs-based funding formula to ensure equitable distribution of funds across all neighborhoods. In November 2025, multiple council members proposed a study session to explore ways to provide neighborhoods with greater flexibility in how program funds could be used. Staff conducted an analysis in response, and the conversation was scheduled to continue in the first quarter of 2026 as part of the community and civic engagement system. In February 2026, the discussion resumed with an update on the 2025 program year, including the outcomes of the changes implemented. As staff prepared to launch the 2026 Neighborhood Grant Program, they outlined the goals and priorities for the upcoming year. During this conversation, several issues raised during the study session required further clarification. While the council reaffirmed its commitment to a needs-based equity model, a specific question was raised regarding the current funding floor. One council member suggested exploring whether the current $1,000 allocation for Tier 3 neighborhoods provides a sufficient incentive for residents to organize and support neighborhood activities. The council did not reach a consensus to change the funding floor at that time. Instead, they asked staff to conduct an analysis and bring back options for funding structures—including an option that raises the baseline to $2,000 – for the council to consider. In addition to the exploration of funding structure changes, there were a few other program concerns raised. Staff has worked to address these. To better align neighborhood events with public purpose, council suggested strengthening the connection between engagement activities and public safety by involving city staff more intentionally. The goal is to create opportunities for staff to participate in neighborhood events and help promote safety, awareness, and relationship building with residents. In response, staff coordinated internally with several departments to make them aware that neighborhoods may request their presence at events throughout the year. Departments have begun identifying aspects of their work that could be valuable for neighborhood organizations and residents. Staff have also shared information with neighborhood leaders on how to request visits from the fire or police department for their events. Additionally, per IRS guidelines, neighborhood leaders who plan to be reimbursed for project or event expenses must have a W-9 on file. Those receiving more than $600 in reimbursements in Study session meeting of April 13, 2026 (Item No. 2) Page 3 Title: Neighborhood grant program funding discussion a calendar year have been receiving a 1099 from the city. The IRS recently increased the reporting threshold to $2,000 and staff have communicated this update to neighborhood leaders and revised all training materials accordingly. To further reduce the likelihood of a single resident’s reimbursements exceeding the IRS threshold, staff have allowed each neighborhood to have up to five W-9s on file. Additionally, staff have communicated willingness for the city to pay vendors directly when applicable, in order to reduce the amount residents need to request as reimbursement. Present considerations During the review and analysis of the funding formula to increase the funding floor to $2,000, staff identified a critical policy tension for the council’s consideration. Raising the floor for Tier 3 neighborhoods, while also maintaining the total program budget, mathematically decreases the equity formula. When the funding for a higher-resourced neighborhood is increased, the funding gap between that neighborhood and a higher-need area shrinks. Alternatively, the city could increase the program budget to account for all possible expenditures. While increasing the budget to cover all possible requests is a sound financial practice, it would likely result in underutilized funds being tied up when they could be redirected to other city priorities and would create a potential need to increase taxes to support the higher appropriation. Furthermore, because every resident in St. Louis Park supports this program by way of their tax dollars, the council should consider the implications of redistributing resources. Shifting funds later in the year from inactive areas to satisfy additional requests from active neighborhoods aims to support full budget utilization – but also requires a thoughtful policy balance to ensure all taxpayers see a continued benefit from the program regardless of their neighborhoods current level of organization. Because these goals can sometimes be at odds, staff would like to begin the council’s discussion with a facilitated activity before focusing on four options for funding models. Understanding that all of the statements below are important, staff is asking the council to discuss and identify their top priority. By discussing priority statements first, the council can then choose between funding models that are designed to achieve those specific outcomes. Funding allocation prioritization: Think, pair, share activity Each council member will be asked to rank the following statements. The goal is to determine which success measure is most important to the council, which can help align the best funding option. 1. Full funding utilization: It is a priority that as much of the appropriated funds are spent each year as possible, even if that requires a mid-year shift in resources away from currently inactive areas. 2. Expanding the network: It is a priority that there is an increase in the number of neighborhoods organizing and participating in the program. 3. Equity preservation: It is a priority to maintain a needs-based equity formula that reserves and prioritizes having funds available for inactive/Tier 3 neighborhoods throughout the year. Study session meeting of April 13, 2026 (Item No. 2) Page 4 Title: Neighborhood grant program funding discussion 4. Increasing the floor: It is a priority to increase the baseline funding available (e.g., to $2,000) to ensure every neighborhood has a viable starting point for engagement. Council members will then be asked to pair with someone who has a different highest-ranked (#1) statement than themselves for a facilitated discussion. Lastly, each council member will share their priority statement with the full group. Staff will keep track of statements identified in order to visualize the council’s collective direction and aid council in assessing funding options. Funding formula options Below is the combined set of funding structures that staff have prepared for council consideration for the 2026 program year and beyond. Three of the four options maintain the equity component of the current funding formula, as previously directed. Staff have also included an “equality” option which has all neighborhoods eligible for the same allocation. Option 1: Double each allocation. Overall program budget increases to $100,000. Neighborhood Funding Model Current funding level Proposed funding level Budget needed for current funding level Budget needed for proposed funding level Tier 1 (10) $1,900 $3,800 $19,000 $38,000 Tier 2 (15) $1,400 $2,800 $21,000 $42,000 Tier 3 (10) $1,000 $2,000 $10,000 $20,000 $50,000 $100,000 Option 2: Increase Tier 1 allocation to align with the program’s historical maximum request of $3,000 to ensure highest needs neighborhoods have access to the highest funding amount. Also increase moderate and low needs allocations to $2,000. Overall program budget grows to $80,000. Neighborhood Funding Model Current funding level Proposed funding level Budget needed for current funding level Budget needed for proposed funding level Tier 1 (10) $1,900 $3,000 $19,000 $30,000 Tier 2 (15) $1,400 $2,000 $21,000 $30,000 Tier 3 (10) $1,000 $2,000 $10,000 $20,000 $50,000 $80,000 Study session meeting of April 13, 2026 (Item No. 2) Page 5 Title: Neighborhood grant program funding discussion Option 3: No change. Remain at the current allocated amounts/overall program allocation. Overall program budget remains $50,000. Neighborhood Funding Model Current funding level Budget needed for current funding level Tier 1 (10) $1,900 $19,000 Tier 2 (15) $1,400 $21,000 Tier 3 (10) $1,000 $10,000 $50,000 Option 4: Equal distribution of funding across all neighborhoods. Equalizes funding opportunity. Overall program budget increases to $70,000. Neighborhood Funding Model Current funding level Proposed funding level Budget needed for current funding level Budget needed for proposed funding level Tier 1 (10) $1,900 $2,000 $19,000 - Tier 2 (15) $1,400 $2,000 $21,000 - Tier 3 (10) $1,000 $2,000 $10,000 - $50,000 $70,000 Budget allocation versus program liabilities There is a secondary policy question connected to the selection of funding formula: Should the budget allocation match the program dollars needed for the funding model? Two options are outlined below: • Option A: Yes, the budget allocation should match the program budget: For 2026, funds can be used from the Emerging Needs Reserve dedicated to the city manager. A budget request will be included in the 2027 budget process for future years. • Option B: No, the budget allocation does not need to match the program budget: Should the budget allocation remain at $50,000, the city would only expend funds up to that amount. o Transparency note: If the budget becomes pressed in 2026 or future years, staff would prioritize funding for Tier 1 neighborhoods and those that are newly organizing. Unspent funds Once the council has reached consensus on a funding model, staff is lastly seeking guidance on how unspent funds should be used each year. Staff is proposing two options for the council to consider: • Option A: Unspent funds should be made available for active neighborhoods to request at a pre-determined calendar date. Study session meeting of April 13, 2026 (Item No. 2) Page 6 Title: Neighborhood grant program funding discussion • Option B: Unspent funds should be redirected toward network-wide opportunities, including training, city-led engagement in non-active neighborhoods and city engagement initiatives to build capacity across all neighborhoods? Next steps: Once staff direction is provided on the questions outlined in the report, staff will notify neighborhood organizations about how this new staff direction may affect them. Meeting: Study session Meeting date: April 13, 2026 Discussion item: 3 Executive summary Title: Advisory commissions communications to city council - workplan updates Recommended action: Does the city council want to place the proposed workplan item additions for the planning commission and board of zoning appeals on an upcoming consent agenda for approval? Policy consideration: None at this time. Summary: In winter 2025, the city council approved a communication tool that allows boards and commissions to communicate directly with the council. This tool can be used for a variety of purposes, including submitting requests to add new items to existing workplans. Attached are advisory communication documents from the planning commission, whose members also serve on the board of zoning appeals (BOZA). This commission is notifying the city council of newly approved workplan items they wish to add to their current workplans as part of their ongoing efforts. Financial or budget considerations: Not applicable Strategic priority consideration: St. Louis Park is committed to being a city that delivers reliable services, uses city resources responsibly, operates transparently and builds strong relationships with residents. Supporting documents: Planning commission/BOZA advisory communication form, workplan draft Prepared by: Pat Coleman, community engagement coordinator Reviewed by: Cheyenne Brodeen, administrative services director Sean Walther, planning commission liaison Approved by: Cindy Walsh, deputy city manager Advisory communication to council City Council has provided direction that the primary purpose of advisory boards and commissions is to assist/advise city council in the policy decision-making process on behalf of the public. Boards and commissions may also be asked to provide community advice and feedback in a systematic manner. Please use this form to submit a board or commission-related topic for city council consideration. Note that use of this advisory communication to council requires a majority vote of a city board or commission prior to submission. Decisions on whether to take up an issue will be made by council. Use the sections below as a guide and omit sections that may be extraneous. Date: To: From: Subject: Strategic priority (if applicable): Approved work plan item? ܆ Yes ܆ No Council request: ܆ Review and comment or reply ܆ Review and decide (e.g., new work plan item) ܆ Informational only – no response needed Action requested: What is the commission asking Council to do? For non-work plan items, no action will be taken unless Council chooses to provide direction or otherwise discuss at a future meeting. If requesting a new work plan item, make explicit. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 2 04/07/26 City Council 2026 Work Plan The Planning Commission voted to approve the attached 2026 work plan on March 25, 2026. The topics of the work plan had been presented to the City Council on November 10, 2025, as general discussion topics. Since then, the planning commission decided to add one more item to the work plan, item number 6, which focuses specifically on studying parking minimums within the zoning code. The city council is asked to specifically review this new item on the work plan, as well as overview the other work plan items. St. Louis Park is committed to creating opportunities to build social capital through community engagement. Planning Commission Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Background: Explain the exact circumstances of the situation and provide general information about the topic/ issue. Page 3 The planning commission identified parking minimums as a topic that they would like to do more research and analysis on, beyond what was able to be covered through the Zoning Code Update Phase 2 (ZCU-2) efforts. The ZCU-2 process did identify some changges to the parking approach that the planning commission will be supporting, such as allowing MU districts to not require new parking for new uses in existing buildings, reducing parking requirements for all MU districts, and removing parking minimums for the Historic Walker Lake overlay district (HWL) entirely. The planning commission wants time to explore further reducing parking minimums beyond what's proposed in the ZCU-2 Assessment: Explanation of the Commission's stance on a particular topic/issue, how it supports existing strategic priorities and how it advances the purpose of boards and commissions. Include information about whether cross- collaboration with other boards or commissions is recommended. If action from the council is requested, provide the justification. They want to further explore the impacts of parking minimums as well as study the effects of possibly removing them entirely. The intent of this work item is to study the subject, understand the impacts of different options, then identify next steps, such as needed policy changes, public engagement on the topic or changes to the zoning code. These will be summarized to the city council and ask for their direction on next steps. Recommendation: Recommendations should be included for “review and decide” initiatives. Include clear explanation of recommendation(s). This section can include a bulleted list of each individual recommendation, etc. Staff will provide their recommendations on the staff report. The Planning Commission is requesting the approval of their 2026 Work Plan, with particular attention to their proposed new item concerning a parking study. The city council is asked to review the work plan and provide their feedback. The work plan will then come before city council for an official vote of approval at a regular council meeting. Board and Commission Annual work plan Presented to council: April 13, 2026 Approved by council: 1 Work plan │ planning commission and board of zoning appeals 1 Initiative name: Planning and zoning application review Initiative type: ☒Staff support (review project, policy or program and provide feedback) ☐Independent research project ☒Gather community feedback ☐Lead community event Initiative origin: ☒Applicant-initiated ☐Staff-initiated ☐Commission-initiated ☐Council-initiated Legally required (e.g. response to Legislative changes or Judicial decisions)? ☐Yes ☒No Commissioner lead(s) name(s): All commissioners/board members If joint commission initiative, list other board or commission: Is this an established work group? ☐Yes ☐No ☒N/A Initiative description: Review planning and zoning applications from third parties to the city; hold public hearings to help inform commission recommendations, and BOZA and council decisions. Strategic Priority: ☐ 1 ☐ 2 ☒ 3 ☐ 4 ☒ 5 ☐ N/A Deliverable: ☒ Research report ☒ Summary of community input ☐ Other ☐ N/A Target completion date: Ongoing This section to be completed by staff: Council request (if applicable): ☐ Review and comment or reply ☐ Review and decide ☒ Informational only – no response needed Budget required: n/a, application fees generally cover city direct costs Staff support required: plan review, neighborhood meeting support, staff reports, recommendations Liaison comments: Due to statutory requirements that the city respond to formal applications within 60 days, the volume and effort involved in this initiative is a primary responsibility and impacts the progress on other initiatives list in the work plan. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 4 2 2 Initiative name: Broaden participation Initiative type: ☒Staff support (review project, policy or program and provide feedback) ☐Independent research project ☐Gather community feedback ☐Lead community event Initiative origin: ☐Applicant-initiated ☐Staff-initiated ☒Commission-initiated ☐Council-initiated Legally required (e.g. response to Legislative changes or Judicial decisions)? ☐Yes ☒No Commissioner lead(s) name(s): All commissioners/board members If joint commission initiative, list other board or commission: Is this an established work group? ☐Yes ☐No ☒N/A Initiative description: Identify strategies to broaden, and reduce barriers to, public participation. Strategic Priority: ☒ 1 ☐ 2 ☐ 3 ☐ 4 ☒ 5 ☒ N/A Deliverable: ☐ Research report ☐ Summary of community input ☒ Other ☐ N/A Target completion date: Ongoing This section to be completed by staff: Council request (if applicable): ☒ Review and comment or reply ☐ Review and decide ☐ Informational only – no response needed Budget required: not to brainstorm ideas; but to implement ideas may require resources, yes. Staff support required: TBD, but most likely, yes. Liaison comments: Have a joint meeting with other commission(s) on topic of shared interest/responsibility. Hold a planning commission meeting at an off-site location to foster community relationships. (e.g. study sessions with topics of general interest, development project tours, etc.) Help recruit community members with diverse experiences to apply for vacancies on boards and commissions, task forces, committees, or other volunteer opportunities. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 5 3 3 Initiative name: Implement light rail station plans (Arrive + Thrive) Initiative type: ☒Staff support (review project, policy or program and provide feedback) ☐Independent research project ☐Gather community feedback ☐Lead community event Initiative origin: ☐Applicant-initiated ☐Staff-initiated ☐Commission-initiated ☒Council-initiated Legally required (e.g. response to Legislative changes or Judicial decisions)? ☐Yes ☒No Commissioner lead(s) name(s): All commissioners/board members If joint commission initiative, list other board or commission: Is this an established work group? ☐Yes ☐No ☒N/A Initiative description: Launch Arrive + Thrive online implementation tracker. Strategic Priority: ☐ 1 ☒ 2 ☒ 3 ☒ 4 ☒ 5 ☐ N/A Deliverable: ☒ Research report ☐ Summary of community input ☐ Other ☒ N/A Target completion date: Q1 2026 This section to be completed by staff: Council request (if applicable): ☐ Review and comment or reply ☐ Review and decide ☒ Informational only – no response needed Budget required: Plan was/is budgeted in community development department planning studies. Implementation steps may be folded into future budgeting. Staff support required: Yes. GIS staff are creating the online tracker and staff will need to maintain and update the tracker as more elements of Arrive + Thrive are implemented. Liaison comments: The planning commission and council approved the plan in 2025. The plan includes implementation steps that may need to be incorporated into existing commission initiatives and future work plans. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 6 4 4 Initiative name: Zoning code update – phase 2 Initiative type: ☒Staff support (review project, policy or program and provide feedback) ☐Independent research project ☒Gather community feedback ☐Lead community event Initiative origin: ☐Applicant-initiated ☐Staff-initiated ☐Commission-initiated ☒Council-initiated Legally required (e.g. response to Legislative changes or Judicial decisions)? ☐Yes ☒No Commissioner lead(s) name(s): All commissioners If joint commission initiative, list other board or commission: Is this an established work group? ☐Yes ☐No ☒N/A Initiative description: Hold public hearing and make recommendation regarding changes to the zoning map and non-residential district and performance zoning standards to better reflect the city’s strategic priorities. This includes, but is not limited to, expansion of mixed use districts and creation of a high-density mixed use district for transit oriented development areas near rail stations. Strategic Priority: ☐ 1 ☐ 2 ☒ 3 ☐ 4 ☒ 5 ☐ N/A Deliverable: ☒ Research report ☒ Summary of community input ☐ Other ☐ N/A Target completion date: Q1 2026 This section to be completed by staff: Council request (if applicable): ☐ Review and comment or reply ☒ Review and decide ☐ Informational only – no response needed Budget required: yes, budgeted in community development budget for planning studies Staff support required: Yes Liaison comments: Staff and the planning commission made an extensive effort to complete this phase of the zoning code update within one year of phase 1 adoption. Remaining tasks to adopt and smooth implementation will also require staff resources beyond adoption and throughout the year. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 7 5 5 Initiative name: 2050 Comprehensive Plan Initiative type: ☒Staff support (review project, policy or program and provide feedback) ☐Independent research project ☒Gather community feedback ☐Lead community event Initiative origin: ☐Applicant-initiated ☐Staff-initiated ☐Commission-initiated ☒Council-initiated Legally required (e.g. response to Legislative changes or Judicial decisions)? ☒Yes ☐No Commissioner lead(s) name(s): All commissioners If joint commission initiative, list other board or commission: Is this an established work group? ☐Yes ☐No ☒N/A Initiative description: Kick off to the 2-year comprehensive planning process. The planning commission will provide guidance on how new strategic priorities resulting from Vision 4.0 should frame the comprehensive plan. Efforts in 2026 involve establishing a framework for the planning process, creating a community engagement plan for the planning process, and beginning to analyze existing conditions of the city. Strategic Priority: ☒ 1 ☒ 2 ☒ 3 ☒ 4 ☒ 5 ☐ N/A Deliverable: ☒ Research report ☒ Summary of community input ☐ Other ☒ N/A Target completion date: Adoption by end of 2028 This section to be completed by staff: Council request (if applicable): ☒ Review and comment or reply ☒ Review and decide ☐ Informational only – no response needed Budget required: Yes. Included in community development dept. planning studies budget – other departments should have dedicated budget and/or staff time set aside for data/research required for their topics within the comprehensive plan. Staff support required: Yes – community development staff will lead the planning effort, but input from other departments will be required. Liaison comments: As a multi-year effort, the focus in 2026 will be getting elements together, and preparing for robust community engagement and plan drafting in 2027. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 8 6 6 Initiative name: Parking discussions Initiative type: ☒Staff support (review project, policy or program and provide feedback) ☒Independent research project ☒Gather community feedback ☐Lead community event Initiative origin: ☐Applicant-initiated ☐Staff-initiated ☒Commission-initiated ☐Council-initiated Legally required (e.g. response to Legislative changes or Judicial decisions)? ☐Yes ☒No Commissioner lead(s) name(s): All commissioners If joint commission initiative, list other board or commission: Is this an established work group? ☐Yes ☒No ☐N/A Initiative description: Through the work on Phase 2 of the zoning code update, the planning commission identified the need for deeper analysis regarding the topic of parking minimums within the zoning code. The planning commission wants to learn more about the impacts of parking minimums, explore opportunities to remove parking minimums from more of the city or reduce the parking requirements for individual land uses. Through this research and discussion, the planning commission hopes to identify policy recommendations and frame next steps to present to the city council. Strategic Priority: ☐ 1 ☒ 2 ☒ 3 ☒ 4 ☐ 5 ☐ N/A Deliverable: ☒ Research report ☐ Summary of community input ☐ Other ☐ N/A Target completion date: December 2026 This section to be completed by staff: Council request (if applicable): ☒ Review and comment or reply ☒ Review and decide ☐ Informational only – no response needed Budget required: Yes. This topic was identified by the planning commission and has not been included in community development dept. planning studies budget. The scope of this study has not been finalized, but will depend on staff time to undertake. Staff support required: Yes Liaison comments: The planning commission and staff propose several parking reforms in the zoning code update phase 2 language; staff presented this approach to the city council in October 2025 and received positive feedback. The purpose of this work is to allow the planning commission to delve more deeply into this specific topic and potentially recommend future policy changes. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 9 7 Initiative Origin Definitions Applicant-initiated – Project initiated by 3rd party (statutory boards) Staff-initiated – Project initiated by staff liaison or other city staff Commission-initiated – Project initiated by the board or commission Council-initiated – Project tasked to a board or commission by the city council Strategic Priorities 1. St. Louis Park is committed to being a leader in racial equity and inclusion in order to create a more just and inclusive community for all. 2. St. Louis Park is committed to continue to lead in environmental stewardship. 3. St. Louis Park is committed to providing a broad range of housing and neighborhood oriented development. 4. St. Louis Park is committed to providing a variety of options for people to make their way around the city comfortably, safely and reliably. 5. St. Louis Park is committed to creating opportunities to build social capital through community engagement Modifications Work plans may be modified, to add or delete items, in one of three ways: Work plans can be modified by mutual agreement during a joint work session. If immediate approval is important, the board or commission can work with their staff liaison to present a modified work plan for city council approval at a council meeting. The city council can direct a change to the work plan at their discretion. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 10 8 Future ideas Initiatives that are being considered by the board or commission but not proposed in the annual work plan. Council approval is needed if the board or commission decides they would like to amend a work plan. Initiative Comments Water conservation and water recycling Explore ways to encourage reduced water use, capture and reuse of storm water, and protect ground water resources. Housing analysis Explore setting policy targets for different housing types in the city based on present inventory and unmet demand and promote homeownership opportunities as well as inclusionary housing goals. Study session meeting of April 13, 2026 (Item No. 3) Title: Advisory commissions communication to city council - workplan updates Page 11