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BUDGET IMPLICATIONS <br />3 i All staff and consultant costs will be recovered from the increment as part of the administrative <br />32 retainage. The amount of assistance that Sienna Green will receive will be only the incremental <br />33 portion of the property taxes that they will pay for their development. The taxes paid on the base <br />34 value of the property when the TIF District was originally created will continue to be applied to <br />35 the general fund. <br />36 STAFF RECOMMENDATION <br />37 Staff recommends that the City Council authorize the City Manager and Mayor to enter into a <br />3, development agreement with Sienna Green 11 Limited Partnership. <br />39 REQUESTED COUNCIL ACTION <br />4('-) Motion to ADOPTa resolution to approve the development agreement between the City of <br />4 ,i Roseville and Sienna Green 11 Limited Partnership dedicating to increment from TIF District <br />42 No. 18. <br />Prepared by: Patrick Trudgeon., Community Development Director (651) 792-7071 <br />Attachments: A: Draft Development Agreement between the City of Roseville and Sienna Green 11 Limited <br />Partnership <br />B: Resolution approving Development Agreement <br />Page 2 of 2 <br />