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IS e. The risk that the revenue from this Project will be insufficient to meet all Project obligations, including TIF bonds, is extremely small. Rottlund, Ryan, Welsh, and Roseville Properties are relatively conservative developers. They have a history of successful projects, not failures. And all previous TIF projects in Roseville have been successful, at least from a financial standpoint. f. Most people who oppose TIF say they don't want their taxes used as part of a TIF subsidy for a redevelopment project, especially if that project includes certain features they don't like. But TIF is not a grant of tax funds from (a) current Roseville taxpayers or (b) currently collected tax funds. That isn't how TIF works. TIF does not use other people's taxes to finance redevelopment. Instead, TIF is based upon the taxes that the future property owners within the redevelopment area will pay on the new tax base that the developers' create with their project - tax dollars that would not exist but for the new development. Hence, when current residents say they don't want their city property taxes used as part of a TIF subsidy for this project, they can be assured that their taxes will not be used to subsidize Twin Lakes or any other project. That isn't how TIF works. i. The question is not whether the City will use current residents' property taxes to help pay for Twin Lakes. Residents' property taxes won't be used that way because that isn't how TIF works. ii. The question is whether the City will use the taxes that the Twin Lakes' Project will create to help pay for some of the extra-ordinary upfront redevelopment costs for this Project. i. Properly used, TIF does not subsidize developers and certainly does not create windfall profits for developers. Properly used, TIF subsidizes brownfield redevelopment and makes it competitive and doable in comparison with greenfield projects. Greenfield projects are much less expensive and less risky to build because greenfield projects do not have the same environmental clean-up and the same demolition costs as brownfield projects. i. Some people say that, once built, brownfield redevelopment projects may be more profitable than a similar greenfield project. Under this argument, those supposedly higher profits from a brownfield project ought to be used to finance the higher front-end brownfield redevelopment costs. This argument says there is no need to level the playing field between greenfield and brownfield projects because higher brownfield profits can be used to finance higher brownfield redevelopment costs. ii. In response, Twin Lakes surely appeals to Costco and other retailers because of the strength of the Roseville retail trade area. To be sure, 9