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Last modified
7/17/2007 8:42:43 AM
Creation date
12/2/2004 11:13:34 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
10250
Resolution Title
Authorizing Continuation of the Contract for Exclusive Negotiations Between the City of Roseville, Minnesota and the Rottlund Company, Inc., for the Twin Lakes Redevelopment Area
Resolution Date Passed
9/27/2004
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<br />EXHIBIT D <br /> <br /> TWIN LAKES REDEVELOPMENT AREA <br /> DEVELOPMENT AREAS 1 - 5 & 8 <br /> SOURCES & USES <br /> Areas 1-5 & 8 <br />1 5.00% City Admin Fees Housing Units 730 <br />2 2.50% Inflation Building SQ. Ft. 552,713 <br /> -- 80.5 <br />3 Acres <br />SOURCES <br />4 TIRev.Bonds (125% coveragel 1% inflatlonJ 5.50% 22,678,007 <br />5 TI Revenue Note 7.00% 7,035,217 <br />6 Hazardous Sub. Subdistrict (Rev. bonds; 120% CVQ.; PV 6/05) 5.50% 3,600,000 <br />7 Hazardous Sub. Subdistrict (Revenue note) 7.00% 412,500 <br />8 Transportation Improvements - City / County / State 3,000,000 <br />9 Environmental remediation grants - citY / County 1 State 1 Met Council 1 Federal 3,000,000 <br />10 Resale Value of Land 26,041,590 <br />1-.-- <br />11 TOTAL SOURCES 65,767,313 <br />USES <br />12 Land 1 Building Acquisition and Relocation 46,496,578 <br />13 Site Preparation (Qrading, demo, enQ., soil correction) 3,778,999 <br />14 Site Preparation - Environmental 7,846,038 <br />15 Landscaping and other public improvement costs 1,750,000 <br />16 Streets (Twin Lakes Parkway, Off Site) 3,266,449 <br />17 Contingency I (0% on aCQuisition; 10% other costs) 1,982,856 <br />18 Costs of Issuance (% of T.!. Revenue Bonds) 2.50% 656,950 <br />1--. I <br />19 TOTAL USES 65,777,871 <br />20 SURPLUS (DEFICIT) T10,557) <br /> <br />Twin Lakes 18e.xls <br /> <br />Prepared by Krass Monroe. P.A. <br /> <br />9/21/2004 <br />
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