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9c. Attachment B 1 2 3 4 City of Roseville and 5 Roseville Economic Development Authority 6 DRAFT - Acquisition Framework 7 November 2016 8 January 2017 9 10 11 INTRODUCTION AND PURPOSE: 12 13 14The City of Roseville (the “City”) and the Roseville Economic Development Authority 15(“REDA”) desire to promote effective and fiscally responsible development and redevelopment 16within the community. Facilitating this development activity may from time to time require the 17City and REDA to consider participating in the acquisition of real property. In an effort to 18ensure any involvement in a real estate transaction for development purposes is carefully 19considered, the City and REDA established this Acquisition Framework (the “Framework”). 20The purpose of the Framework is to provide guidance and best practices as the City and REDA 21consider the potential acquisition of property. There is no one formula that can decide on behalf 22of the community whether or not an acquisition should occur. Each decision will vary from 23property to property depending on prior planning, community goals, location, and resources. 24The Framework is a tool to ensure the City and REDA are considering some key questions 25before acquiring property, such as: 26 27Would a public acquisition align with community development and redevelopment 28goals? 29Who should acquire property for development and redevelopment purposes? 30What are the projected costs, benefits, and outcomes? 31What are the potential risks and mitigation measures? 32 33The intent is to ensure that policy-makers, staff and community members receive the information 34they need to make informed and transparent decisions about the acquisition of property to 35achieve Roseville’s development goals. 36 37 38 39 Note: This Framework is not intended to replace Roseville’s Lot/Sale Replacement Program