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<br />REQUEST FOR COUNCIL ACTION <br /> <br />DATE: 09/27/04 <br />ITEM NO: 10. <br /> <br />Department Approval: <br /> <br />DPW/CB <br /> <br />Manager AP~.m OV. .ed. : <br />~'Jtu;J! a$ <br /> <br />Agenda Section: <br /> <br />Item Description: Consideration of Continuation of the Contract for Exclusive <br />Negotiations Between The City of Roseville, Minnesota and The <br />Rottlund Company, Inc. for the Twin Lakes Redevelopment Area <br />(PF 3543) <br /> <br />1.0 REQUESTED ACTION <br /> <br />1.1 By resolution, authorize (or terminate) the Contract for Exclusive Negotiations <br />between the City of Roseville, Minnesota and The Rottlund Company, Inc. for the Twin <br />Lakes Redevelopment Area. <br /> <br />2.0 BACKGROUND <br /> <br />2.1 In December 2003 the City Council chose the "Master Developer" concept to implement <br />a development plan for Twin Lakes Redevelopment Area. In addition, the City Council <br />established a 6 month Stakeholders Panel process to work with the Master Developer on a <br />refinement of the development concepts. <br /> <br />2.2 On March 15,2004 the City Council approved a Twin Lakes Contract for Exclusive <br />Negotiations with The Rottlund Companies. <br /> <br />2.3 January 29 - July 12, 2004 - Twin Lakes Stakholder Panel process. Twenty-five <br />members participated in 11 workshops relating to Twin Lakes and the Rottlund <br />Companies proposal for development. <br /> <br />2.4 August 9, 2004 - City Council directed staff to work with Rottlund Homes to further <br />develop, and refine for City Council consideration and action, a financial plan, based on <br />the following criteria: <br /> <br />a. The current pay-as-you-go Tax Increment Financing (TIP) Policy will not change; <br />b. Consideration of spreading fiscal disparities outside the district will not be <br />considered; <br />c. Consideration to the use of General Obligation (G.O.) bonds will not be given, <br />with the exception of use of G.O. bonds for a portion of the roadways given their <br />community-wide value and justification as part of the overall community <br />infrastructure; <br /> <br />PF3543 - ReA (09-27-04) - Page 1 <br />