My WebLink
|
Help
|
About
|
Sign Out
Home
res_10297
Roseville
>
City Council
>
City Council Resolutions
>
10xxx
>
10200
>
res_10297
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/17/2007 9:25:13 AM
Creation date
5/13/2005 2:42:10 PM
Metadata
Fields
Template:
Roseville City Council
Document Type
Council Resolutions
Resolution #
10297
Resolution Title
A RESOLUTION APPROVING A TERM SHEET WITH THE ROTTLUND COMPANY, INC. FOR THE TWIN LAKES REDEVELOPMENT AREA AND APPROVING THE PAYMENT OF CERTAIN CONSULTING FEES
Resolution Date Passed
4/25/2005
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
27
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />Tax Increment Financing: <br /> <br />Calculation of Assistance <br />Needed: <br /> <br />changes will be subject to the reasonable approval of the City <br />and the Redeveloper. <br /> <br />The Redevelopment Agreement will specify the options or recourse <br />available to the Redeveloper and the City if the Project cannot be <br />made financially feasible. <br /> <br />The City will provide the following tax increment financing to the <br />Redeveloper, as set forth in greater detail below: <br /> <br />1. The City will issue Tax Increment ("TI") Revenue Bonds <br />payable only from tax increment generated by the <br />Redevelopment Project for tax increment-eligible costs <br />("Eligible Costs") incurred by the Redeveloper. The Eligible <br />Costs will include all costs eligible for payment with tax <br />increment under applicable law. <br /> <br />2. The City will issue a pay-as-you-go TI Revenue Note or Notes, <br />payable solely from tax increment, to reimburse the <br />Redeveloper for Eligible Costs which have not been reimbursed <br />by City public improvement or special assessment bonds or TI <br />Revenue Bonds. <br /> <br />3. The Redevelopment Agreement will contain a schedule as to the <br />timing of issuance by the City and the amounts of TI Revenue <br />Bonds and TI Revenue Notes. <br /> <br />1. <br /> <br />Every six months, the Redeveloper will submit an itemization of <br />Eligible Costs incurred to the City for certification. <br /> <br />2. Annually, the Redeveloper will submit a cumulative-to-date <br />Sources and Uses and also a projected Sources and Uses <br />through completion of the Project so that, prior to each issuance <br />of TI Revenue Bonds, the City can determine the level of <br />assistance needed based on an agreed-upon Redeveloper margin <br />(see below). <br /> <br />3. By December 31 of the first full assessment year following <br />completion of the Project (the "Reconciliation Date"), the <br />Redeveloper will submit a Project Sources and Uses for a final <br />accounting by the City and the Redeveloper of the level of <br />assistance needed for the entire Project, including the <br />Redeveloper's margin discussed further below. <br /> <br />3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.