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. GMHC has also submitted a preliminary plat application for the development, a public hearing <br />� was held on July 1 at the Planning Commission and the preliminary plat is on the City Council <br />� agenda tonight. <br />.- Currently, the City's TIF Attorney, Mary Ippel from Briggs and Morgan, is working with the <br />� attorney from GMHC to draft the TIF Development Agreement. It is anticipated that the TIF <br />. Development Agreement will be before the Council for review in August. It will not be formally <br />., approved until the modifications of the TIF Districts occurs at the August 24, 2015 meeting. <br />� It is anticipated that the Final Plat will be brought before the City Council in August as well. <br />� The target closing date with GMHC is the end of August or beginning of September. <br />, BACKGROUND <br />� The item before the City Council tonight is to approve a resolution that will call for a public <br />hearing to modify TIF Districts 10 and 12 and Development District 1. More detail about the <br />�r actual text of the modifications will be presented in the RCA for the public hearing and <br />� following the creation of the TIF Development Agreement. In general, the TIF Districts are <br />. being modified to identify the use of the TIF 10/l2 funds to support the Dale Street project, <br />including repaying the interfund loan used to close on the HRA owned property. <br />G�� � The proposed action is just the step necessary to implement the City Council's past policy <br />decisions regarding this project and not any new policy direction. <br />, POLICY OBJECTIVE <br />��. The Dale Street redevelopment project is a priority redevelopment area for the City of Roseville. <br />. BUDGET IMPLICATIONS <br />� Setting the public hearing will continue the process of completing this development project <br />������ which will involve additional expenditures of legal funds to prepare documents for TIF <br />modifications, the development agreement and eventually closing. <br />STAFF RECOMMENDATION <br />���- � Staff recommends the approval of the attached resolution calling for a public hearing on the <br />��� � adoption of modifications to the development program for Development District No. 1 and the <br />�� proposed adoption of modifications to the TIF Financing Plans for TIF Districts 10 and 12. <br />REQUESTED COUNCIL ACTION <br />Offer a motion to approve the attached Resolution calling for a public hearing on the proposed <br />adoption of a modification to the Development Program for Development District No. 1 and the <br />proposed adoption of modifications to the Tax Increment Financing Plans for TIF Districts 10 <br />and 12 and performance of the actions necessary to meet the City's obligations identified in the <br />Resolution. <br />Prepared by: Pau] Bilotta, Community Development Director <br />Attachments: A: Resolution <br />Page 2 of 2 <br />