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3.2 Another option would be to set up a special Service District. lender MN Statute <br /> 428A the City may provide special services to a land area that is subject to property <br /> taxes and the costs associated with the special service are paid from revenues <br /> collected from service charges imposed within that area. This method of financing <br /> is much simpler that the special assessment since the service provided does no <br /> have to meet the health and safety aspect but rather the service provided is not <br /> ordinarily provided throughout the City from general fund revenues. Mary Ippel from <br /> Briggs and Morgan has provided a summary of the procedures to set up a special <br /> service district. <br /> 3.3 A third option is the establishment of a Tax Increment District and a pay-as-you go <br /> refund for additional investment by the developer. This option works best on tote <br /> redevelopment and industrial projects where there is more than new <br /> value created. <br /> 4.0 Direction Fie nested <br /> Staff seeks direction from the Council regarding the possibility of setting up a Specie <br /> Service District for the redevelopment of the Roseville shopping Center. Funds for the <br /> Service could come from an existing City fund with the payback, over a period of time up <br /> to 1 0 Y ears, put back into a revolving fund to use for future retail rehabilitation special <br /> service district projects. <br /> If Council has an interest in establishing a Special Service District for the Roseville <br /> Shopping center, staff will prepare a formal proposal, outlining amounts and <br /> procedures to the next regular Council meeting for consideration. <br /> Attachments: summary of a special Service District <br /> Prepared by: Cathy Bennett(490-2241) <br /> k\S COMI)Ev1COMDE\AEconomic aevelopment\Bradley RCD1.doc <br /> Bradley - RCD1 (03/16/98) - Page 2 of <br />