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 Page 2 <br />Commercial/Industrial rate increase from 5% of FMV to 7% of FMV based upon 1 <br />the following rational: 2 <br /> Commission is fulfilling their responsibilit y to regularly revi ew rates and look 3 <br />for ways to reasonably raise revenues 4 <br /> 5 <br /> Maintains a competitive rate with surrounding and like communities 6 <br /> 7 <br /> Increased revenues will help alleviate some of the potential tax burden to 8 <br />citizens and spread costs to other users of the Par ks and Recreation System 9 <br /> 10 <br /> The Commercial/Industrial Park Dedicati on rate has remained at 5% since the 11 <br />late 1980’s 12 <br /> The increased use of the Park and Recr eation System that is created with 13 <br />new development 14 <br /> The quality and extent of the existing Capital Impr ovement Program (CIP) 15 <br /> The current investment in the Park s and Recreation System with the need to 16 <br />replace/preserve/enhance that investment 17 <br /> The existing land values 18 <br /> The Adopted Master Plan and authorized Implementation 19 <br />With the increase to 7%, the Parks and Recreation Comm ission feel that this will 20 <br />better reflect the av erage and bring Roseville reasonabl y in line with neighboring and 21 <br />like communities. 22 <br /> 23 <br />Staff concurs with this recommendation. 24 <br /> 25 <br />Please let me know if you have any questions. 26 <br />Thank you. 27