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110 BACKGROUND: 1.1 On October 13, 2003, the City Council, before providing direction/decisions, requested time for additional information and discussion on different methods of coordinating the development of Turin Lakes with multiple developers, The following is a discussion paper with staff suggestions regarding opportunities for future development for the November 17 and/or 24th meetings. 1.2 Since 2001, when the Council adopted the current master plan for redevelopment of 170 acres within Twin Lakes the vision has been to: Create a quality, coordinated mixed -use business park redevelopment and a new residential neighborhood (for living and working) in an environmentally sensitive design. Create a "brand" or sense of coordinated neighborhood place that expands the tax base and diversifies the Job base . , , The basic land uses in the master plan are to be office, hi -tech, residential and support retail. AHow some flexibility for market fluctuations; be timely, but focus on the longer term and high quality development in a continuum of development issues. 1.3 The 170-acre Twin Lakes "opportunity area}} currently has a property value of approximately $30 million* mostly in underused or abandoned truck terminals and parking areas. In the opporturdty areas (17o acres of the total 280 acres) currently them are approximately 1 :300 jobs. If redeveloped according to the master plan specifications (maximum development), the site could acconmxodate from 2,000 to 3,700 additional jobs. There are three occupied housing units (along Cleveland). If redeveloped according to the master plan} there could be as many as Soo to boo new homes, but a potential for up to 1,400 housing unit (by converting some "planned fors} office and hi -tech land areas with new housing). 1.4 The City of Roseville has been planning for the redevelopment of the truck terminal areas for the past 15 years. In June 2001 } the City Council approved a new 280 --acre Master plan and a Renewal Strategy for 170 acres as well as an Alternate Urban Area review (an AUA is equivalent to an Environmental Impact Statement) for the entire area from approximately Cleveland (west) to Lincoln Drive (cast) and from County Road C (south) to County Road C-2 (north). phase 1 (Ryan) of Twin Lakes consists of 20 acres, 4 buildings (326,000 square feet), and nearly 1 ,000 jobs constructed by Ryan Companies from 1 994 through 1997. 1.5 The City and State 9 s "tool box7 to guide this development to a finished product (a new neighborhood and community asset) includes., 1. Following a comprehensive Master plan (2001 ). 2. Approving an environmental impact analysis (AUAR - 2001). 3. Expediting the environmental investigation and review process (2000- 2003). 4. officially designating the path of the future Twin Lakes Parkway (2000). 5. Utilizing tax increment financing within TIF District #11 (1990 through 2014). However, special legislation is needed to allow for extension of the term beyond 2014 and to allow pooling from individual parcels to pay for common area costs such as roads and utilities.