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City of Roseville,, Minnesota mun�icipal legislatioIn�. A projec oIes n�oIt qualify if more than 20% of the square footage of b g eceive assistan�ce fro emen�ts co of commercial, retail or o er n�• es en�tial use. In ad�d�itioln�, h�olusin�g d�istricts are subject to, various incorrI limitatioln�s and requiremen�ts for resid�en�tial prolperty. For • occupied re d�e olperty, 95% • • L e i in�itially purchased and occupied by in�d�ivid�uals wh�olse family incorrI is less than or equal to, the incorrI req • qualified moirtgage bond projects un�d�er section 143(f) of the Internal Reven�ue Cold�e. For resid�en�tial ren�tal prolperty, the prolperty must satisfy the incorrI req or a qualified resid en�tial ren�tal project as defined in sectio e In�tern�al Reven�ue Cold i. moo "I 1. e planned improlvemen�ts co • the following: a. No, owner-occupie o g un�its. b. 168 rental umits, for which one of the following will apply: • at least 20% of the rental umits will be occupied by persoins with imcolmes no greater than 50% of area median incorrI • at least 40% of the rental units will be occupied by ors ins with incolmes no greater than 60% of area median incorrI q IIIIIIIIIIIII �illilli� IIIIIIII III lipiliq 11 11111111 Iliqlpillillill I 3. e City will require in the development agreement th�at the incorrI limitatio • all re apply for the Oun2ti•t of ft- 71FDistrict. I Tax in�cremen�t reven�ues derived fro • g d�istrict must be used sollely to e the cost • • ojects as defined abolve. T'h�e cost of public improlvemen�ts d�irectly related to, the h�olusin�g projects and the alloicated ad�min�istrative expen�ses of the City may be included in the cost of a h�olusin�g project. Section F Duration of the TIF District Holusing d�istricts may remain in existence 25 years from the d t• receipt by the City of the first tax increment. Modifications • lan (see Sectio extend th�ese limitatiolns. e City elects to, receive increment beg ax payable yea • e olta Statutes, Section 469.175, subdivision 1(a)(8)(b). T'h�e City reserves the righ�t to, allow the TIF District to, remain in existence the maximum duration allowed by law, through the year 2038. T'h�e City will decertify TIF District No,. 18 oince the projected increment h�as been received to, fulfill the e District oibligatioln�s. All tax in�cre e om taxes payable in the year the TIF District is decertified sh�all be paid to, the City. Section G Property to beI Included in the TIF District T'h�e T'IF'District is an approximate 5.42-acre area of land located within the Project Area. A map sh�olwing the location zi of the TIF District is shown in Exh�ibit 1. T'h�e bolund�aries, area, and parcel encompassed by the TIF District ars, F OescriWeiWiiel•v: W WKWARI K 4 E SEE INER W ILWJ OLWAV W W W Sm Maw I �W Wll MWAL. OWW's �Wll I F, s A% LWJ 0 INE W I IN LWAMWIIIII I= ILI IN ILMMEW-A-ILELI-WASI N- 0 ILWJ SIPRINGSITED Page 2