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<br />City of Roseville. The Twin Lakes redevelopment area in Roseville illustrates how TIF <br />can be used to eliminate blight, remove bad soil conditions, and enhance the tax-generating <br />ability of land. The city created the Twin Lakes Redevelopment area to elimilllate dilapidated <br />truck terminals and other blighted buildings in Roseville. The city used a phased approach to <br />developing this area. The first phase was the construction of a 140,OOO-square-foot shopping <br />mall on the former truck terminal site. The city used $200,000 in community development block <br />grant (CDBG) funds to provide the only public assistance to the first phase project. <br />Construction costs of approximately $10 million were privately financed. The city captured tax <br />increments from the first phase of the development area and used those funcls to finance the <br />infrastructure improvements in the next area redeveloped. The mall stimulated a great deal of <br />interest in the overall development of the area, which attracted approximately $130 million in <br />private investment in the remainder of the redevelopment area (League of Minnesota Cities, <br />1989) <br /> <br />City of St. Louis Park. The city of St. Louis Park created the Excelsior Boulevard <br />Redevelopment District, where TIF funds were used to purchase land, remove underutilized <br />commercial buildings, and prepare sites for redevelopment. The city also created a hazardous <br />substance subdistrict to finance approximately $9 million in site contamination cleanup costs <br />associated with the Park Nicollet Clinic development. <br />The TIF district was a critical tool in supporting the city's Town Center Redevelopment, <br />which was supported by the Metropolitan Livable Communities Act. As a result of the <br />redevelopment activity, several new businesses located in the area and many existing <br />businesses made capital improvements to their properties, which caused adjacent real estate <br />values to increase (League of Minnesota Cities, 1997). <br />What TIF Has Become <br />When originally enacted, tax increment financing was primarily designed to continue <br />urban renewal efforts that had previously been funded by the federal government. In general, <br /> <br />15 <br />