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Department Approval <br />AEQUEST FOR, COUNCIL ACTION <br />Date: 07/28/20OV, <br />Item No.: 12.e <br />City Manager Approval <br />Item Description: Approve Tax as Revitalization Account Contract and Memorandum of <br />Understanding Between the City and Cent Ventures <br />1� I.BACKGROUND <br />2 1.1. The Metropolitan Council has awarded the City of Roseville $189,000 through its Tax Base <br />Revitalization Account Grant on behalf of Cent Ventures' proposed redevelopment project on the <br />Xtra Lease and Old Dominion sites within the Twin Lakes Project Area. The uses of these funds <br />5 are asbestos abatement and soil vapor mitigation. (See Exhibit A in Attachment A.) <br />6 1.2. Staff has worked with the City's attorney to draft a memorandum of understanding between the <br />7 City and Cent Ventures. This memorandum identifies the City's expectations of Cent Ventures <br />pertaining to the implementation of these grants. (See Attachment A.) <br />2. POLICY OBJECTIVE <br />.1. The use of the TBRA grant will facilitate environmental clean up within the community. <br />1 � 3. FINANCIAL IMPACTS <br />1� 2 3.1. By approving these contracts, there are no fiscal impacts to the City as Cent Ventures will be <br />1 undertaking the work identified in the TBRA grant. <br />1� 1111 3.2. In Section B of the draft Memorandum of Understanding (Attachment A) , staff has proposed <br />1� 5 language that explicitly establishes that the City is not responsible for costs associated with <br />1� 6 environmental remediation. <br />1� 7 3.3. The TBRA grant does not require matching funds. <br />1 r � 4. STAFF RECOMMENDATION <br />1 4.1. Staff recommends that the City Council approve the execution of the TBRA grant contracts <br />2 between the City and the Metropolitan Council in order to facilitate environmental clean up <br />2 1� activities within the Twin Lakes Project Area. <br />22 4.2 Staff also recommends that the City Council approve the memorandum of understanding between <br />23 the City and Cent Ventures identifying the responsibilities of each party. <br />MMOMIN <br />