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IN RESPONSE -- page 3 three story building of approximately 20,000 to 27,000 square feet. Its use would be for college purposes such as offices or studios for the college radio station. Additional parking would be developed on this site. , 5. Tax Increment Financing: Last fall, before the Paul's Place property was purchased, discussions were had with Graig Waldron and Steve Sarkozy in regard to the City of Roseville helping the redevelopment of this very visible, blighted property with T.I.F. Too much money was paid for the property, but it was believed by all concerned that the alternatives of a 'casino or a Wal-Mart type business were much less desirable than to redevelop the property into a quality senior housing project. T.I.F. was and has always been part of the discussions. Other additional financial help was also offered in the form of city funds to demolish the buildings on the site, fix poor soil conditions, and build the new relocated frontage road. College Properties, Inc. is requesting $3,875,000 in Tax Increment Financing. This will be used to keep the overall project costs within the levels necessary to keep rental prices of the apartments at affordable rates necessary to fit the requirements of the state to qualify for a tax exempt bond issue. We are also requesting the City of Roseville to issue the bonds for the project. We are riot asking the City of Roseville for any city dollars. In fact, Roseville will receive over $1,300,000 back out of the above funds to be used to supports parks and other city projects. (See charts attached) 6. Use Of Public Money For Private Institutions: This is not a separation of Church and State issue. Public funds and grant funds are regularly used on similar projects. Presbyterian Homes of Minnesota is presently completing new projects in Little Canada and in Bloomington in which TJ.F. and city bonds are used. They are a church organization. College Properties, Inc. is not. Northwestern College is not a church organization. Northwestern is not in any way connected with any church denomination or affiliation., The college presently has 43 different denominations represented in its student body. The facilities developed in Roseville by College Properties, Inc. will not impose religious beliefs on people living in the senior housing. The housing will be open to the general public. 7. "College Properties. Inc. is a Minnesota not for profit corporation and has filed with the I.R.S. for a 501 (c) (3) statis.