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<br />City Council Study Session - 09/20/04 <br />Minutes - Page 11 <br /> <br />D. Roseville Resident (Immigrant) <br />The resident expressed confusion regarding the spreadsheet <br />displayed during the meeting and assumptions provided in <br />Mr. Casserly's report. He further questioned how much it <br />would cost the City during the first five (5) years, and when <br />would the value of the property increase sufficiently to <br />allow the city to realize revenue from the project. He then <br />asked for a "best" and "worst" case scenario. <br /> <br />Mr. Casserly reiterated the City's structuring that dictated <br />that the developer advance the costs, and noted that if the <br />investment producing sufficient revenues, the developer <br />would not get paid. Mr. Casserly noted that if the revenues <br />exceeded projections, the TIF District could be retired prior <br />to the 25 year limit. Mr. Casserly concurred with previous <br />comments that the proj ections were assumptions, but <br />expressed confidence in the sources and experience used <br />for making the assumptions. <br /> <br />E. Margaret Smith <br />Ms. Smith expressed concern about the potential cost of <br />Roseville taxpayers, and specifically addressed those costs <br />to the City if Eminent Domain (ED were required to <br />complete property acquisition. <br /> <br />Ms. Smith also expressed her opposition to a proposed <br />Costco "big box" retailer, expressing her preference for <br />professional office buildings. Ms. Smith cited concerns <br />regarding additional traffic, opining that alternate routes, <br />rather than the clogged 1-3 5W freeway system, such as <br />Fairview Avenue would be sought, and questioned how a <br />narrow, two-lane road would accommodate and manage an <br />additional 15,000 cars without severely impacting homes in <br />that area. <br /> <br />Mr. Casserly responded to the ED concerns that the <br />developer would be responsible for any costs associated <br />with ED proceedings, as per written agreement to be <br />determined between the City and the developer. <br /> <br />Council discussion ensued regarding advancing and <br />