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2011_0613_packet
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City of Roseville,, Minnesota <br />conveniient for the iimpl�ementatiion of the Program. The Ciity will acqu�iire property if iit bel�iieves there its a <br />l�iikel�iihood that the property can be reu�sed iin the foreseeable fuituire and iif the Ciity can iidentiify soup rces <br />of revenue to pay for such property. Generally, the Ciity will enter iinto a contract wiith the priivate sector <br />for the noise of the property. However, there may be parcels that are so important to a proposed <br />redevel�opment or noise that the Ciity may fiind iit difficult or impractical to enter iinto any contract wiithou�t <br />fiirst owniing or haviing control of the parcel, dither throuigh negotii athon or by uise of emiinent domaiin. <br />The Ciity may also acqu�iire, from wiil�l�iing sellers or by uise of emiinent domaiin, parcels as part of a Iong- <br />term redevel�opment effort. In such iinstances, the acqu�iisiitiion shouil�d meet a stated Program goal or <br />objective, revenues shouil�d have been iidentiifiied to pay for them and the parcels shouil�d be held only <br />until sufficient parcels have been acqu�iired to al�l�ow Program goal�s and objectiives to be iimpl�emented. <br />Section G Administration <br />The Ciity Manager shall serve as Administrator of the Project Area puirsui ant to the proviisiions of the <br />Development Diistriict Act, proviided however that such powers may only be exerciised at the diirectiion of <br />the Cou �ciil�. No actiion taken by the Administrator shall be effective wiithou�t Council au�thoriiz,atiion. <br />A developer or redeveloper may be any person, bu�siiness, corporatiion (for-profiit or non-profiit) or <br />government u�niit, iincl�u�diing the Ciity. A developer or redeveloper may iiniitii ate a plea and participate wiith <br />the Ciity iin the development or redevelopment thereof. <br />Section H Parcels to be Acquired <br />The Ciity may acqu�iire any of the parcels iil�l�u�strated on Exhiibiit I-A by gift, dediicathon, condemnatiion or <br />diirect purchase from wiil�l�iing sellers in order to achiieve the objectives of the Program. <br />Section I Pudic Improvement Costs <br />The estiimated pu�bl�iic iimprovement costs and the amount of bonded indebtedness, iincl�u�diing iinterest <br />thereon, to be iincu�rred wiithiin the Project Area for the benefiit of the Project Area and iits Tax Increment <br />Diistriicts are set forth iin the individual Tax Increment Fiinanciing Pleas. <br />Section J Souirces of Reven�uie <br />Anticipated revenue sources to assist in the financing of the public improvement costs located within <br />the Tax Increment Districts and the Project Area include (1) general obligation and/or revenue tax <br />increment obligations with interest; (2) the direct use of tax increments; (3) the borrowing of available <br />funds, including without limitation interest-bearing City short-term or long -term loans; (4) interfund loans <br />or advances; (5) interfund transfers, both in and out; (6) land sale or lease proceeds; (7) levies; (8) <br />grants from any public or private source; (9) developer payments; (10) loan repayments or other <br />advances originally made with tax increments as permitted by Minnesota Statutes; and (11) any other <br />revenue source derived from the City's activities within the Project Area as required to finance the costs <br />as set forth in each of the Tax Increment Financing Plans. All revenues are available for all tax <br />increment eligible expenses within the Project Area as allowed by Minnesota Statutes. <br />SPRINGS�TED Page 8 <br />
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