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REQUEST FOR CITY COUNCEL ACTION <br />DATE: 8/04/03 <br />ITEM: <br />Department Approval: Manager Apn yn I Agenda Section <br />Bw <br />Item Description: overview of 'TIF District no. X - Arona Site <br />1.0 Council Request: <br />1.1 On July 2 1 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 existingT� <br />District no. 12. <br />1. 2 what follows is a brief history of the structure of l oseville's tax increment andspecific <br />information regarding TIF District no. 12 as well as suggestions. regarding the use of the <br />fands. <br />2.0 Roseville Tax Increment Structure <br />2.1 Rose ille'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 1 982. What followed was several <br />modification's the development district boundary and use of tax increment. 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 Igo. 1 in 1982, the City created 16 <br />specific tax increment districts. These districts were established in response to specific <br />projects which the City believed to be worthwhile and which upon careful evaluation, it <br />determined were unlikely to occur within a reasonable foreseeable future solely with <br />private investment. only of those origmal TIC districts zernain today. One of them is <br />OF District no. 12 that includes the entire Arona site. <br />RCA TIF District #12 (080403)- Page 1 of 5 <br />Attachment A <br />