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REQUEST FOR ECONOMIC DEVELOPMENT AUTHORITY ACTION Date: January 9, 2017 ItemNo.: ent Approval City Manager Approval Departm Item Description: Consider Adopting a City of Roseville and Economic Development Authority (EDA) Acquisition Framework B ACKGROUND 1 The City Council/Economic Development Authority (REDA) have articulated an active interest 2 in land purchases. The City Council/REDA considered four different properties for land 3 acquisition in 2016. On June 21, 2016 the REDA agreed to repurpose dollars to develop both a 4 public financing policy and an acquisition framework. The City/REDA adopted a public 5 financing policy, and are now considering an acquisition framework to better guide future 6 decisions. 7 8 On November 28, 2016 the City Council reviewed a draft acquisition framework and provided 9 feedback. (Minutes included as Attachment A.) Economic Development Consultant, Jason 10 Aarsvold, has incorporated the feedback into the most recent draft for consideration (Attachment 11 B). 12 PO OLICYBJECTIVE 13 The policy objective would be to better develop a property acquisition framework to focus 14 where, why, and when sites should be considered for acquisition. This objective came out of a 15 priority setting discussion with the REDA in June of this year. 16 BI UDGET MPLICATIONS 17 No budget implications at this time. 18 SR TAFF ECOMMENDATION 19 Consider adopting an acquisition framework with the suggested changes incorporated from the 20 November 28, 2016 meeting. 21 REDAA EQUESTED CTION 22 Motion to adopt an acquisition framework with the suggested changes incorporated from the 23 November 28, 2016 meeting. 24 Prepared by: Kari Collins, Community Development Director Attachments: A: November 28, 2016 Meeting Minutes B: Draft Acquisition Framework with Markups C: Clean Acquisition Framework without markups Page 1 of 1