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REQUEST FOR CITY COUNCIL ACTION <br />DATE: 9/04/03 <br />ITEM: <br />Department Approval: Manager Approval: Agenda Section <br />lbw "h Z2 <br />Item Description: overview of TIF District no. 12 - Arona. Site <br />1.0 Council Request: <br />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 existing TIF <br />District no. 1. <br />1.2 what follows is a brief history of the structure of Roseville's tax increment and specific <br />information regarding TEF District no. 12 as well as suggestions regarding the use of the <br />funds. <br />' J <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 />modifican' 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 No. 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 6 of those original TEF districts remain today. One of there is <br />TIF District no. 12 that includes the entire Arona site. <br />City of r os ilIe - TIF District 12 <br />� � -. r r P +� $� •, S � r ' e i � arm �r++.... _. s-• - - si•1� f �--'= •• f - <br />�. • � ! � r -t r i 7i � qtr ..5.- * 'q � �ry[�.a ,� ..y...., e ° : � � • r. F .. � � <br />r' ;,'fc P Y ' reP�..R.rra . ,� •�.' a _ ! TI1F�District 12 <br />-i s E •� r , r , <br />r w - -� ��� f- • r_ � PYr!r ��. f iw•( ° � •y P .. �, -rr•- din , � � ' .r � �.+.�r . .�- J rF + ► A - ; <br />�• _ prP - - y r+. .. - 2 6.. f J. { rt. - • - Fri, � wti <br />$ } 1 <br />Development ent District I L:: <br />Lw <br />Y -1rPd R6r�R rte` <br />sxss.r�• 4 s-f VFCFK" V M� �r•..�� r^ ��� �� IQ F6 <br />WEEP <br />RCA TIF Distract # 12 (080403 ) - page 1 of 5 <br />