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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 22nd day of January, 1990, at 7:30 p.m. The following members were present: Johnson, Thomas, Cushman, Maschka, and Rog, and the following were absent: None. Member Johnson introduced the following resolution and moved its adoption: RESOLUTION NO. 8534 RESOLUTION TO RAMSEY COUNTY BOARD RECOMMENDING TAX INCREMENT FINANCING WHEREAS, Tax Increment Financing has been a critical redevelopment tool for first ring suburbs such as Roseville; and WHEREAS, through the reduction of state and federal development funds Tax Increment Financing, in many situations, is the only remaining tool for cities; and WHEREAS, Tax Increment Financing has been critical to the City in leveraging $146 million in new investment and 2,800 jobs; and WHEREAS, Tax Increment Financing has been used in critical projects in collaboration with the County's Community Development Block Grant Program for redevelopment projects such as the Byerly's project; and WHEREAS, Roseville has been a trucking center that is currently in a major transition, based on substantial changes in the trucking industry; and WHEREAS, Ramsey County has developed a Tax Increment Financing Report that does not properly depict the true benefits of tax increment financing; and WHEREAS, Ramsey County is considering a policy to place caps on tax increment and limit pooling activities; and WHEREAS, said limits on caps and pooling would drive proposed develop- ments out of Roseville, based on the extensive costs of redevelopment; NOW, THEREFORE BE IT RESOLVED, that the City of Roseville is opposed to any caps and pooling restrictions relating to tax increment. BE IT FURTHER RESOLVED, that the effectuation of said caps and pooling would completely eliminate future redevelopment efforts in the city such as the 200 acre Twin Lakes area in which the County has been extensively involved with the city in its redevelopment activities.