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The character and standards governing the development of this park and trail system are outlined in a separate document: Dose v i lle's pathway blaster Plan, Design and Guidelines. V111. Tax Increment Financing Redevelopment, by its very nature, is more costly than new development in second- and third -ring suburban fields. To remain competitive with the growth in this suburban areas, Roseville has adopted policies which provide incentives to "level the playing field" for redevelopment in a first -ring suburb. The City attempts to make redevelopment in Roseville as Bust effective for the developer and business as first-time development in the second- and third -ring suburbs. Therefore, all of the Twin Lakes Redevelopment Area, except for the eastern edge, is within Tax Increment Financing (TIF) Districts. (Refer to Twin Lakes Tax Increment Financing District flap). The majority of the area is within TIF District 11, which was certified in 1989. Small portions of the area are within TIF Districts 7 and 9. TIF District 11 will be in place until 2014. (TIF Districts 7 and 9 will be decertified in pay 2002). The City has also created a Hazardous Substance Subdistrict to generate additional funds to assist with cleanup of contaminated properties along the northeast side of' Arthur Street. To date,, the City has committed over $10 million of tax increment funds to facilitate the cleanup of contaminated sites and to facilitate the development of new buildings within the area. Approximately $3.3 million has been utilized for cleanup while the remaining $6.7 million has been used for redevelopment incentives such as land acquisition write down assistance, building demolition, soil correction and other site improvements. The sources of funding for the City's investment (which is normally paid back in approximately 12 years) include; shared project cash flow, tax increments, shared project sale proceeds, subdistrict revenues, Metropolitan Council, State, and EPA grants and recovery of environmental clean -up costs from previous property owners. In 1990 the City contacted numerous developers to take the lead in redeveloping the area in accordance with the Twin Lakes redevelopment Land Use Plan. originally, Trammel Crow Company approached the City and began negotiations with City staff to develop the area. Unfortunately, that deal fell apart and the City then tried to identify additional potential developers. City staff' contacted brokers, realtors and also members of N IOP to try to identify two or three additional developers to carry out the Twin Lakes plan. Developers expressed reluctance to accept the risk of being the first to redevelop the area. Ryan Companies, Minneapolis, however, stepped forward and negotiated a development agreement with the City. The agreement specified that the City would provide up -front funds from its tax increment financing pool when available to assist in land acquisition, demolition, and clean up. Ryan Companies would} in turn, redevelop the sites and provide the City with shares of cash flow and proceeds from the sale of projects in the future to repay the City's initial investment. • r As part of the development assistance agreement approved in 1992, Ryan Companies has the right of first offer to develop a portion of the property in the Twin Lakes redevelopment Area. This area} as V