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CC_Minutes_2004_0621
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CC_Minutes_2004_0621
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7/17/2007 9:30:19 AM
Creation date
2/9/2006 2:19:32 PM
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Roseville City Council
Document Type
Legal Publications
Meeting Date
6/21/2004
Meeting Type
Study
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<br />It's the wronS! Dnce (cost). <br /> <br />The developers want $46 million of taxpayer subsidy. That's way over what <br />taxpayers can absorb. To the extent this project cannot finance itself through <br />the use of TIF, and you go beyond the district itself to provide funds, you are <br />shifting the cost of business development unto homeowners. This has never <br />been done in Roseville, and we should not start now. No general obligation <br />bonds; no taxpayer assistance other than what the district itself will produce <br />through TIF. That means no gap strategies that impact taxpayers outside the <br />tif district. The risk has to be on the developers and bondholders who are <br />willing to risk their money on revenue bonds. <br /> <br />Feel free to call me (633-5761) or email meatesands2612@aol.com. or mail <br />me at 2612 Aldine Street. <br /> <br />Ccz~. <br /> <br />EIWYfi (AI) Sands <br /> <br />Attachments: <br /> <br />Current Master Plan excerpts. <br />(Retail not recommended) <br /> <br />Twin Lakes Current Financial Plan <br />(Incomplete, and Can't be done) <br /> <br />Year to date TIF II (Twin Lakes) tif revenues <br />(since inception through 2002 --3 million) <br /> <br />2 <br />
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