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9c. Attachment C <br />1.PROPERTY ACQUISITION OBJECTIVES <br />A.Participation by theCityand EDA in the acquisition of property will occur only when <br />there is a clear and demonstrable community benefit. Acquisition of property should <br />further the following objectives: <br />1.Advance an established goal or priority in the Comprehensive Plan or <br />other adopted community plan. <br />2.Provide site control beyond zoning to help achieve desired community <br />outcomes. <br />3.Assemble parcels for a larger redevelopment project. <br />4.Expand and diversify the local economy and tax base. <br />5.Encourage additional private development in the adjacent area, either <br />directly or through secondary “spin-off” development. <br />6.Remove blight to facilitatedevelopment and redevelopment. <br />7.Facilitate the development processand promote investment insites that <br />could not be developed without assistance. <br />B.Priority will be given to potential projects that accomplish multipleCity and <br />REDA’s stated objectives. <br />2ACQUIRING ENTITY <br />. <br />A.The City and REDA will first strive to work with a private development partner to <br />directly acquire propertyfor identified development and redevelopment <br />opportunities. The City and REDA’s participation in this case may involve <br />financial assistance consistent with the adopted Public Assistance Criteria and <br />Business Subsidy Policy. <br />B.When acquisition and development opportunities cannot be feasibly carried out by <br />the private market, the City and REDA may acquire property directly.This direct <br />acquisition must clearly meet identified objectives, provide significant community <br />benefit, and adhere to provisions of the Framework. <br />3.IDENTIFICATION OF COSTS AND RISKS <br />A.Information about the costs and potential risks shall be assembled prior to any <br />decision to participate in the acquisition of property. This information shall <br />include, but not be limited to: <br />1.Estimated acquisition cost, includingsale price as well as due diligence <br />costs, consultant fees, and any other transaction costs. <br />Roseville Acquisition Framework - DRAFT Page 2 <br /> <br />