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livable Communities Ad - Tax Base Revitalization Program After adoption of the Local Housing Incentive Account Goals and Action Plan, the City of Roseville becomes eligible for the Tax Base Revitalization Grant Program. The following is a summary of three grants awarded in 1996-97 and an additional site that has been identified as a likely candidate for future grant requests (tax base & job growth charts attached). 1. Twin Lakes Business Park Phase IV (Midwest Motor Express - 2778 N Cleveland) Ryan Companies acquired the Midwest Motor Express site in 1996. The site was previously owned and occupied by Midwest Motor Express Company. They used the property as a motor freight terminal since 1960. Ryan Companies participated in the Minnesota Pollution Control Agency Voluntary Investigation and Cleanup (VIC) Program and the Voluntary Petroleum Investigation and Cleanup (VPIC) Programs for voluntarily clean up the site. The Minnesota Pollution Control Agency approved a remedial action work plan to clean up and manage the petroleum-contaminated soil and ground water. The estimated cost of clean up was $400,000. Potential funding sources included City of Roseville tax increment pool funds, developer, petro fund, and Metropolitan Council Tax Base Revitalization Grant. The City was awarded a Tax Base Revitalization Grant for this project in the amount of $218,604. Ryan Companies completed the cleanup of the property and constructed a 105,000 square foot office/flex building. With the project under budget the City received $133,409.62 in eligible clean up funds from the Metropolitan Council. With the building almost fully leased, there are approximately 200 jobs with an estimated annual payroll of $6 million. The estimated annual real estate taxes produced are approximately $175,000 per year. The site, prior to redevelopment generated approximately $54,000 taxes annually. 2. Roseville Technology Park (Ideal Security - 2621 N. Fairview Avenue) Fairview H.A. Associates, LLP purchased the former Ideal Security Hardware site at 2621 N. Fairview Avenue. Fairview H.A. Associates, LLP is participating in the voluntary investigation and clean up program with the Minnesota Pollution Control Agency to clean up the site. There was a vacant deteriorated office warehouse structure on the site. Fairview H.A. Associates, LLP worked with the Minnesota Pollution Control Agency to develop a remedial action work plan for the clean up of contaminated soil and ground water on the site. It was estimated that the investigation and clean up costs would be approximately $370,000. Funding sources for the project included City of Roseville tax increment funds, developer and Metropolitan Council Tax Base Revitalization Funds. 7