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� <br />• <br />AMENDMENTS TO TAX INC�EMENT DISTRICTS �1-10 <br />The City of Roseville has commenced � major red�vela�ment a�ea in <br />the 35W/�2 Corridor. In 1985, in order to facilitate this <br />redevelapm en� effort, the City issued $25,OQ0,000 in tax <br />increment bands. The proceeds w�re utilized to construct a <br />bridge, and facilitate the Rosepointe, Woodbri�ge, Rosedal� <br />Corporate Plaza, and Vill� Park projects. Significant succ�ss <br />has occurred relating to these projects which have inclu�ed <br />facilities such as NSP, Health One, Arde� Medi�al, Minnesota <br />Lot�er��, etc. In addition, activity has started �o occur east of <br />the bridge with respect to the City's priorities in the B2 <br />redevelopment corridor. Although the success has been <br />substantial, significan� redevelopment activities still mus� be <br />accom�lished within the 35W �orridor, �hus these amendments, wi�h <br />respect ta financia� considerations, are being undertaken, <br />In terms of the Twin Lakes area, the City has completed a new <br />camprehensive plan for the 281 acres. Major activity has <br />commenc�d on the east side of the area which includ�s the Lido, <br />Edina office building, and the Byerly'� m�ll developments. It is <br />expected that the redevelopment of this area will need a time <br />frame of 10-20 years to complete all o� the projects as <br />envisioned by the City. Thus, the c�istricts are also being <br />modified to reflect the long term proposals for the Twin Lak�s <br />area. <br />The following sections of tax increment financing plans #1-10 are <br />madified as follows: <br />F. Parcels to be Acquired <br />Ba�ed on the aforem�entioned plans for the 35W/B2 area and the <br />Twin Lakes area, the City wi11 consider the purchase of any of <br />the properties within these tax increment aistricts to further <br />the long term redevelopment plans discussed in the previous <br />paragraph. <br />G. Estimate c�f Costs <br />In order to implemPnt the City's plans within the Municipal <br />Development District, the costs are hereby madified as follows: <br />- 35W/B2 Corridor <br />Land Acquisition <br />Demol.ition <br />Infrastructure <br />and Write Down � <br />0 <br />S17,OU0,000 <br />$ 7,00O,OOQ <br />$ 3,000,000 <br />