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CC_Minutes_2004_0920
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CC_Minutes_2004_0920
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7/17/2007 9:31:39 AM
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2/15/2006 12:18:38 PM
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Roseville City Council
Document Type
Council Minutes
Meeting Date
9/20/2004
Meeting Type
Study
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<br />NOW TO THE SPECIFICS. <br /> <br />I FIND IT ABSOLUTELY AMAZING THAT MR. CASSERLY <br />HAS BEEN ABLE TO FIND ANOTHER $12 MILLION OF TIF FUNDS, <br />AND ANOTHER $ 6 MILLION IN OTHER PUBLIC SUBSIDIES, IN <br />THE SPACE OF FOUR SHORT WEEKS. THAT'S AN AMAZING 86% <br />INCREASE IN FUNDING, A TOTAL OF 40 MILLION, COMPARED TO <br />THE 21 MILLION HE SHOWED IN HIS AUG. 9 FINANCIAL PLAN. <br /> <br />HOW DID HE DO THAT: <br /> <br />A. REVENUES FOUND: <br /> <br />1. HE BROUGHT IN 7 MILLION OF REVENUE NOTES. THIS IS <br />NOT NEW FUNDS. HE PRUDENTLY OMITTED THEM IN <br />THE FIRST ANALYSIS. BUT NOW HE'S DESPERATE, SO <br />AGAINST GOOD JUDGMENT, HE INCLUDED THEM IN <br />THIS FORECAST. <br />2. HE INCLUDED $4 MILLION OF HAZARDOUS TIF, EVEN <br />THOUGH ANY CONTAMINATION THAT WOULD QUALIFY <br />FOR HAZARDOUS TIF HAS NOT BEEN IDENTIFIED, AS <br />FAR AS HE HAS DISCLOSED. THERE IS NO ASSURANCE <br />THIS AMOUNT OF TIF FUNDING FOR HAZARDOUS <br />WASTE IS LIKELY. <br />3. HE HAS INCLUDED $3 MILLION OF HOPED FOR <br />TRANSPORTAION GRANTS FROM THE CITY, COUNTY, <br />AND STATE. IN MY OPINION, THERE IS NO BENEFIT TO <br /> <br />3 <br />
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