Laserfiche WebLink
In addition, to ensure orderly, fair, efficient and cost-effective redevelopment, the City will use <br />eminent domain — condemnation — in cases where acquisition of the land area and construction of <br />public roads and parr, utilities and/or storm sewer are deemed in the public's interest by the City <br />Council. In addition, to induce further new private investment that is in the public's best interest and <br />ensure that the City is paying a fair price while not overpaying for speculative development, <br />condemnation may be used as a last option in redevelopment negotiation process to determine a fair <br />market value of the property. All condemnation initiatives require City Council approval. <br />IX. Implementation Plan <br />The City of Roseville identified the Twin Lakes Business Farb as a Tax Increment Financing (TIF) <br />District in 1988 and has prepared and amended a Lard Use Guide Plan for its future development. <br />The Twin Lakes Business Park Comprehensive Plan Amendments have supported the redevelopment <br />of the properties and recommends urban design enhancements, necessary infrastructure and <br />drainage /ponding improvements. It is the City's policy to complete redevelopment property as part <br />of a Planned Unit Development process with specific requirements for each site. <br />Since the initiation as a TIF District, there have been several proposals that were implemented within <br />the Business Parr that have yielded new office /retail/light industrial and commercial properties <br />consistent with previous planning efforts. Based on these efforts, the City of Roseville determined <br />that it needed a comprehensive, coordinated approach to address potential environmental impact <br />issues that would arise from the development and redevelopment of the remaining 46 parcels and a <br />net 170 ` {opportunity" acres in the Twin Lakes Redevelopment Area. Therefore, the City initiated a <br />third set of strategic planning sessions in 2000 - 2001 to consider the cumulative physical, financial, <br />and environmental effects expected with the ultimate redevelopment of the Twin Lakes <br />Redevelopment Area and also to measure performance of developer proposals as they are received <br />over the expected 20 -year development horizon for Twin Lakes. <br />Assumptions were made to measure the level of impact at full- buildout. The maximum new <br />development that each parcel will support is based upon a minimum of 40 percent coverage ratio for <br />i� <br />