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EXHIBIT 17-F "BUT FOR" ANALYSIS History of Twin Lakes Roseville was incorporated as a city in 1948 with a population of 4,589. The City experienced dramatic growth in both population and commercial development in the 1950s and 1960s, and currently has a population of approximately 33,500. Once located on the fringe of the metro area, today Roseville is a first-ring suburb of mixed land uses with established neighborhoods, ample open space, and retail and commercial development. Beginning in the late 1940s, with the City's access to both downtown Minneapolis and St. Paul and the availability of large, inexpensive industrial sites, Roseville developed a large concentration of trucking companies and related businesses. The value of these sites for this use increased as highway construction afforded them access to both Interstate Highway 35W and Highway 36. However, the federal deregulation of the trucking industry in 1980 resulted in the relocation or downsizing of many Roseville trucking-related businesses, and a number of them went out of business. Today, these trucking and other heavy industrial sites are environmentally contaminated, represent a relatively unproductive land use and are undesirable for what has become a densely populated area. Current and historical land uses in Twin Lakes have been primarily heavy and light industrial uses that require large outdoor storage areas, including trucking terminals, auto repair, manufacturing, and other business and retail uses. In the late 1980s, in an attempt to address the potential deterioration of the trucking sites, the City designated a 275-acre area bounded by County Road C on the south, Cleveland Avenue on the west, County Road C-2 on the north and Snelling Avenue on the east as the Twin Lakes Business Park ('Twin Lakes"). In 1990 the City established redevelopment Tl F District 11 within Twin Lakes, which has enabled the redevelopment to date of approximately 32 acres into 328,500 square feet of office-flex and medical office buildings. Unfortunately, the City incurred over $3.8 million in unexpected costs to clean up contamination relating to former construction company and bus painting operations. The City created a hazardous substance subdistrict within the TIF District to pay for some of the costs, but also depleted cleanup funds which the City had expected to have available for other parcels. Contamination investigation and cleanup costs associated with attempting redevelopment on a parcel-by-parcel basis continues to act as a barrier to redevelopment. As part of a strategy to accelerate the pace of redevelopment by