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district 'in 20 equal installments (two times per year for for 10 years). The fee is <br /> shown on the property tax statement similar to a special assessment. An <br /> interest rate of 8% would be factored into the total service charge. <br /> 4.2 Staff has worked with Briggs and Morgan and Bradley Real Estate to create an <br /> equitable gray to ensure the best possible improvements can be made to the <br /> center so that is will continue to be a viable retail Center for many years to coma. <br /> By providing a loan to the Special Service District#1 for making the <br /> improvements to Roseville Shopping Center all at once, the City (as well as <br /> Bradley and their tenants) benefit with a modern, safe and appealing center <br /> which translates into the attraction of quality businesses, jobs and stable tax <br /> base. <br /> 5.0 S ted Council Action <br /> 5.1 The suggested action at this time is to hold the public hearing regarding the <br /> structure and purpose of the special service fees that can be charged to the <br /> Roseville Special Service District#1. After receiving public comment, close the <br /> public hearing. <br /> 5.2 Staff will return to the Council with a draft resolution that will contain a refined <br /> special service fee to be imposed upon Special Service District#1. The refined <br /> fee will include construction figures after the public bid opening. The total cost <br /> and terms can not exceed the amount outlined in the public hearing-notice. <br /> Attachments: <br /> A. Budget from Bradley Reel Estate for improvement to Roseville Shopping Center <br /> B. Public Hearing Notice <br /> Prepared by: Cathy Bennett(490-2241) <br /> 0:%Economle DwelopmenfiBredley RCA ssD Fees.doc <br /> Special Service Fee- Public Fearing (05/26/98) -Page 3 of 3 <br />