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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the city council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 10th day of April, 1989, at 7:30 p.m. The following members were present: Johnson, Kehr, Cushman, Matson, and Rog, and the following were absent: None. Member Johnson introduced the following resolution and moved its adoption: RESOLUTION NO. 8437 TAX INCREMENT FINANCING BILL HOUSE FILES 1335 AND 1341 WHEREAS, the City of Roseville has generated $110,000,000 in develop- ment projects, and created 2,500 jobs in the past four years; and WHEREAS, a significant portion of these projects were able to move forward through the use of tax increment financing; and WHEREAS, tax increment financing is one of the last remaining develop- ment tools for municipalities; and WHEREAS, House Files 1335 and 1341 would severely restrict economic development and the creation of jobs in the communities of our state because of the following: 1. The bills would virtually eliminate a city's ability to utilize non-debt service tax increment. 2. The bills would preclude placing truck terminals in tax increment districts. 3. House File 1335 reduces administrative expenses from 10 percent to 5 percent. 4. The bills limit increment expenditures to only the reason for the blight, which precludes infrastructure projects. 5. House File 1341 places severe volume limitations on tax increment. 6. House File 1341 does not allow the developer to repay the city in future years, thus discouraging recapture of development funds. NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Roseville urges that House Files 1335 and 1341 be amended to eliminate those provisions which severely hamper a city in the effective use of Tax Increment Financing.