Res_11959 - Laserfiche WebLink

Home

expansion of the current use and is in need of significant maintenance and rehabilitation. The new facility will also include a 5,000 square foot space for recreational programming. The total estimated cost is $12,700,000 and includes planning, design,phased construction, and infrastructure to support the new facility. WHEREAS, the projects will result in benefits to both the residents and businesses of the City of Roseville and to non-resident visitors and businesses and documentation of the regional significance of each project, including the share of the economic benefit to or use of each project by persons residing, or businesses located, outside of the jurisdiction are set forth in the Case Report prepared for this resolution and are incorporated herein by reference; and, WHEREAS, the projects are estimated to cost approximately$76,900,000_; and, WHEREAS, the city estimates that a local sales tax of 0.5 (one-half) percent would generate approximately $108 million over 20 years which is sufficient to cover the project costs plus interest and other associated debt costs; and, WHEREAS,the estimated local sales tax revenue and estimated time needed to raise that amount of revenue for each project is as follows: - Maintenance Facility: The city will collect $64,200,000, plus interest and other associated debt issuance costs, over 20 years - License Center: The city will collect $12,700,000 plus interest and other associated debt issuance costs, over 20 years WHEREAS, funding the project with a local sales tax will most closely distribute the cost borne by Roseville taxpayers for supporting the Roseville business community; and WHEREAS, Minn. Stat. § 297A.99 authorizes the imposition of a general sales tax if permitted by special law of the Minnesota Legislature; and WHEREAS, the City of Roseville agrees to comply with Minn. Stat. § 297A.99 relating to the process of enacting, implementing, and collecting the local tax; and WHEREAS, Minn. Stat. § 297A.99 requires the city to pass a resolution authorizing such a local tax and to obtain Legislative approval prior to approval by the local voters to enact the local tax. NOW, THEREFORE, BE IT RESOLVED; 1. The Roseville City Council supports the authority to impose a general local sales tax of 0.50% for a period of the lesser of 20 years or the retirement of the debt(and all related issuance and interest costs) to fund the aforementioned projects. 2. Upon approval of this resolution, the city will submit the adopted resolution and documentation of regional significance to the chairs and ranking minority members of the