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<br />Roseville city Council Minutes <br />May 24, 1993 <br /> <br />P. Johnson moved, Maschka seconded, that Resolution <br />8941, vacating the frontage road subject to main- <br />taining a 20 foot easement for future light rail <br />transit purposes at the former Paul's Place property, <br />Russell Court subdivision, and the Simpson Auto site <br />at Snelling Avenue and Lydia Avenue, be adopted. Roll <br />Call, Ayes: P. Johnson, Maschka, Cushman, Goedeke, <br />and V. Johnson. Nays: None. <br /> <br />Cushman moved, Goedeke seconded, that College Proper- <br />ties, Inc. request for preliminary plat approval for <br />the former Paul's Place property, Russell Court <br />subdivision, and the Simpson Auto site at Snelling <br />Avenue and Lydia Avenue, be approved with dedication <br />of necessary easements. Roll Call, Ayes: P. Johnson, <br />Maschka, Cushman, Goedeke, and V. Johnson. Nays: <br />None. <br /> <br />Cushman moved, Maschka seconded, that a public hearing <br />for College Properties, Inc. request for final plat <br />and final Planned Unit Development plan for the former <br />Paul's Place property, Russell Court subdivision, and <br />the Simpson Auto site at Snelling Avenue and Lydia <br />Avenue, be established for the regular City Council <br />meeting of Tuesday, June 29, 1993. Roll Call, Ayes: <br />P. Johnson, Maschka, Cushman, Goedeke, and V. Johnson. <br />Nays: None. <br /> <br />Maschka moved, Goedeke seconded, that city staff be <br />authorized to negotiate a Development Agreement with <br />College Properties, Inc. for the former Paul's Place <br />property, Russell Court subdivision, and the Simpson <br />Auto site at Snelling Avenue and Lydia Avenue con- <br />cerning the use of TIF funds which include the <br />following: <br /> <br />A. That there be a IIpay as you goll deal with no up- <br />front City funding. <br /> <br />B. That the developer will reimburse the city for any <br />LGA and HACA penalties. <br /> <br />C. That the property will remain taxable for a <br />minimum of forty (40) years. <br /> <br />D. That the length of tax increment assistance will <br />not exceed fifteen (15) years. <br /> <br />E. That the annual amount of funds paid to the <br />developer will not exceed $500,615. Any amount of <br />tax increment available over that amount will be <br />retained by the City for use of other eligible tax <br />increment projects as allowed by State Statutes. <br /> <br />Page 7 <br /> <br />RESOLUTION <br />8941 <br />