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REQUEST FOR CITY COUNCEL ACTION <br />DATE: 8/04/03 <br />�M: <br />Department Approval: i anazerA rp vskl: Agenda Section <br />Bw � <br />Item Description: overview of TIF District no. 12 - Arona <br />Site <br />1.0 Council Request: <br />1.1 On July 2 1 the Council requested clarification regarding the ability <br />to use the proceeds <br />from the sale of the Arona site and future tax increment enemted from <br />� existing TF <br />District no. 1 <br />1. 2 what follows is a brief history of the structure of loseville's tax increment and specific <br />information regarding TIF District no. 12 as well as <br />su ggestions regarding ing the use of the fands. <br />2.0 Rosevifle Tax Increment Structure <br />2.1 Roseville's tax increment structure includes a Development District I� <br />the �. 1 that outlines <br />e use of tax increment through an econonuc development plan. The original <br />development distinct was established in 1 982. What followed was several <br />modification" s: the development district boundary and use of tax increment. The <br />last <br />last <br />modification was in 1991 which expanded the bound of the Development District � p sect no. <br />I to include parcels throughout the entire city of Roseville. <br />2.2 Since the establishment of Development District No. 1 in 1982, the <br />i created 16 <br />specific tax increment districts. These districts were established in response t <br />p o specific <br />projects which the aluat� <br />City believed to be worthwhile and which upon careful ev • <br />� on, it <br />detenrtrned were unlikely to occur within a reasonable foreseeable future so F <br />solely with <br />private investment. Only 6 of those origins TIF districts remain today. One ` <br />y o f them 1s <br />77' Distract no.. 12 that includes the entire Arona site. <br />RCA TIF District #12 (080403)- Page I of 5 <br />Attachment A <br />