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PART 11 <br />Tax Increment Redevelopment _District Finance Plan <br />A. Statutory Authority <br />The City of Roseville is authorized to establish a tax increment district <br />pursuant to Minnesota Statutes, Section 273.71-78. <br />B. Statement of Objectives <br />See Section F, Subsection 19 Part I of this report. <br />C. Development Program <br />See Section F, Subsection 1-5, Part I of this report. <br />D. Description of Property in the Tax Increment Financing District <br />Development Parcel <br />The east 400 feet of tha west 1,275.7 feet of the north 400 feet of <br />the Northwest quarter of Section 13, Township 29, Range 23, <br />according to the government survey thereof, subject to County Road <br />B and ditch easement. <br />Dedicated Park Parcel <br />The west 300 feet of the east 700 feet of the west 1,275.7 feet of the <br />north 400 feet of the Northwest quarter of Section 13, Township 29, <br />Range 23, according to the government survey thereof, subject to <br />County Road B and ditch easement. <br />A map revealing the location of the parcels within the project is provided on <br />the following page. <br />E. Classification of the Tax Increment Financing District <br />The Roseville City Council is determining the need to create a tax <br />increment financing district in accordance with Minnesota Statutes, Section <br />273.71-78 inclusive, finds that the district to be establTshed is a <br />redevelopment district pursuant to Minnesota Statutes, Section 273.73, <br />Subdivision 10(a)(3). Less than seventy percent of the parcels in the district <br />are occupied by buildings, streets, utilities, or other improvements, but due <br />to unusual terrain or soil deficiencies requiring substantial filling, grading or <br />other physical preparation for use at least 80 percent of the total acreage of <br />such land has a fair market value upon inclusion in the redevelopment <br />district which, when added to the estimated cost of preparing that land for <br />development, excluding costs directly related to roads as defined in <br />Minnesota Statutes, Section 160.01 and local improvements as described in <br />Section 29.021, subdivision 1, clauses 1 to 7, 11 and 12, and Section 430.01, <br />5 <br />