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<br />2.0 Council Direction/Discussion: <br /> <br />2.1 Per Roseville's Tax Increment Policy, projects requesting assistance should be presented <br />to Council in concept prior to formal submission of an application. Staff and the <br />applicant are seeking Council's questions and comments on the proposed redevelopment. <br /> <br />2.2 If Council is supportive of the concept, Landmark Partners will make a formal <br />application, which includes a non-refundable deposit of $5,000. Staff will then proceed <br />to prepare the necessary financial analysis needed to substantiate the "but for" test for use <br />of tax increment funds, and calculate tax increment funds available to be put back into <br />the project based upon the value of the new building. <br /> <br />2.3 Upon completion of the analysis, staff will bring a formal development assistance <br />agreement to the Council for consideration. The assistance package will proceed in <br />tandem with the PUD process. <br /> <br />Prepared by: Cathy Bennett (651-490-2241) <br /> <br />Attachments: <br />Summary of Proposal ITom LandMark Partners <br />Tax Increment Policy/Application <br />Tax Increment District Map <br /> <br />. <br /> <br />RCD - Redevelop C2/Partridge - Page 2 of2 <br />