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5. Funding Category: Compact, mixed-use transit-oriented ~ 6. Concept, goals and scope of proposal Twin Lakes Business Park, in its present condition, is comprised of 275 acres of underutilized trucking terminals, light manufacturing and some previous redevelopment parcels. About 170 acres are considered opportunity areas for future redevelopment. Roseville estimates that up to 3 million square feet of new medical office, high technology and support service slClce can be built in Twin Lakes, which is expected to yield 5,OO(). 7,000 new livable-wage jobs in high-tech and medical fields; in addition, the area will include a walkable residential neighborhood with up to 900 new multifamily housing units ringing nearby Langton Lake. One of the strategies to facilitate the redevelopment of Twin Lakes is to construct the Twin Lakes Parkway, a three-lane roadway which will provide access to the interior Twin Lakes parcels by car, truck, bike and on foot. In addition, the Parkway will provide a direct connection to the ~35W interstate on-ramp and help relieve growing pressure on neighborhood roads and County Road C. Roseville will also make environmental cleanup assistance dollars available to interested parties and be prepared to apply for and facilitate additional gap financing to enable the successful redevelopment of the area. By preparing the site in this manner, Roseville anticipates that market demand will result in the redevelopment of the 46 affected parcels in !be area over the next 20 years. This is prime corporate headquarters and housing territory with direct access to the freeway system, located just five miles from Minneapolis and St. Paul. Twin Lakes Business Park is a focal point in brownfield redeveloprrent for the seven-suburb 1-35W Corridor Coalition, in which Roseville is a key member. The Coalition is a rare show of collaborative planning among suburban cities with similar growth patterns and a major highway in common. One of the group's mutual concerns is the ability of the existing labor shed to fill new mid to high-skill level jobs. Twin Lakes is one of the first major redevelopment projects to be undertaken in the Coalition, and will set the tone for what will follow. 7. Process to date/status The redevelopment of Twin Lakes is not new to the community. Master Plans for the area have been in place since 1988 and were revised in 1996. More recently Twin Lakes has received federal and regional attention as first-ring parcels became more scarce and rmrketable. In 1999, Roseville received a US EPA Demonstration Pilot grant of $200,000 to do environmental Phase I and Phase II site assessments for the Twin Lakes Parkway rightof-way. In 2000, Roseville received a $500,000 Brownfields Cleanup Revolving LCBn Fund from US EPA to use to cleanup the soil in the Twin Lakes Business Park. The funds will later cycle through all of Roseville's redevelopment areas once the initial funding cycle is complete. Also in 2001, Roseville was awarded a $150,000 EPA Supplemental Assistance grant to do a regional soil and groundwater study of the full Twin Lakes area. As redevelopment occurs other sources of funding may include HUD BEDI grants, State redevelopment grants, State contamination cleanup funds, Tax Increment Financing, Minnesota Housing Finance Agency, Family Housing Fund and Ramsey County housing and economic development dollars. An updated master plan has been approved for the Twin Lakes Business Park and the area is currently in the process of completing an Alemative Urban Area-Wide Review (AUAR) to help prepare the parcels for redevelopment. Once the AUAR is complete, the City Council will consider the right-of-way purchase process of the Twin Lakes Parkway which, when constructed, will spur serious redevel~ment interest and actual parcel transactions. Many Twin Cities developers have expressed interest in the area for uses such as a major hospital campus, corporate headquarters and medical/high technology offices, hotel, fitness center, daycare and multifamily townhomes and apartments. City of Roseville LCDA Application - 2001 Page 2 of5