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y <br /> Community Develop ent Department <br /> TO- Steve Sarkozy, Manager <br /> r: <br /> Economic Development eciali t <br /> Fes ate t �Benne , <br /> DATE: February 11, 1999 <br /> RED SUMMARY OF ABATEMENT LEGISLATION <br /> Staid' is requesting that a presentation be made to the Council regarding the Abatement <br /> Legislation, which allows communities, school districts, counties and towns to abate taxes <br /> for specific purposes. <br /> Staff has been evaluating several ways that existing home remodeling and buying programs <br /> can be enhanced to encourage reinvestment in Roseville homes in partnership with the <br /> School District; Some of the existing programs where abatements could be used includes <br /> the Rambler Redesign Program, Community Fix-up Fund and First Time Homebuyer <br /> Program. The Community Fix-up Fund and First Time Homebuyer programs are targetin <br /> low-moderate incomes and the Rambler Redesign Program targets those projects that <br /> contribute to the livability of the home with major renovations. <br /> City Program can abate taxes for a maximum of 10 years up to $100,000 or of the <br /> current le vy each year. The City's approval process includes one public hearing, which <br /> outlines the amount and term of the abatement A school district can also abate up to 10 <br /> y ears but they must approve the abatement each year. <br /> Staff wotdd like to P rovide a summary of the abatement process and make a proposal for its <br /> use in Roseville. In addition, staff will discuss how and why the City and School District <br /> should partner on the program. <br /> Cc: Dennis Welsch <br /> Q;�Hnusing\work session aibatement. oc <br />