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REQUEST FOR CITY COUNCIL ACTION <br />DATE: 8/04103 <br />MM: <br />Department Approval; Manager Apn vaE: Agenda Section <br />CB\DW <br />Item Description: overview of TOf District no. 12 , Arena Site <br />1.0 Council Request; <br />1.1 On July 21 the Council requested clarification regarding the ability to use the proceeds <br />from the sale of the Arona site and future tax increment generated from exis- ting TlF . <br />District no. 12, <br />1.2 What follows is a brief history of the structure of oseville's tax increment and specific <br />information regarding TIF District no. 12 as well as suggestions. regarding the use of the <br />funds. <br />2.0 Roseville Tax Increment Structure <br />2.1 Roseville's tax increment structure includes a Development District No. 1 that outlines <br />the use of tax increment through an economic development plan. The original <br />development distinct was established In 1982. what followed was several <br />modification's the development district boundary and use of tax incasement. The last <br />modification was in 1991 which expanded the boundary of the Development District no. <br />1 to include parcels throughout the entire city of Roseville. <br />2.2 Since the establishment of Development District No. .1 in 1 982, the City created 16 <br />specific tax increment districts. These districts were established in response to specific <br />pro.' ects which the City believed to be worthwhile and which upon careful evaluation, it <br />detemiined were unlikely to occur within a reasonable foreseeable future solely with <br />private investment. Only 6 of those original TIF districts remain today. One of them is <br />M7 District no. 12 that includes the entire Arona site. <br />RCA TIF District #12 (080403)- page 1 of 5 <br />Attachment A <br />