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<br />Roseville City Council Minutes <br />September 9, 1996 <br /> <br />Section 3. Tax Increment Funds and Polices. All tax increment <br />revenues, after annual debt service requirements and direct project <br />commitments have been met arc iltclude:d \vit this pe>lie:)' will be <br />deposited into the TAX INCREMENT FUND. An annual summary of <br />all TIF districts will be compiled showing original base market value. <br />increment collected. increment obligated (debt. proiect costs. etc.) <br />expenditures. prospective projects. and district cash balance. In districts <br />where excess increments have been generated and are not obligated to <br />other districts or prospective projects. the Council will evaluate overall <br />financial policies to determine whether the district should be closed or <br />the excess increment deposited in the TAX INCREMENT FUND. The <br />allocation of revenues within this fund will be utilized as follows: <br /> <br />Section 4. Public Purpose Statement for Infrastructure Development: <br />Section B. adding No.7: <br /> <br />The review process shall be composed of evaluation of potential <br />alternative sources of revenues. <br /> <br />Roll Call, Ayes: Maschka, Wiski, Goedeke, Mastel, and Wall. Nays: None. <br /> <br />L. <br /> <br />OTHER BUSINESS <br />Mastel moved, Goedeke seconded, that Item L-1, the selection schedule of a <br />developer for the Gateway Project, be added to the agenda under Other Business. <br />Roll Call, Ayes: Maschka, Wiski, Goedeke, Mastel, and Wall. Nays: None. <br /> <br />L-1 <br /> <br />Mastel moved, Goedeke seconded, that the selection of a developer for the <br />Gateway Project be put on the December 23, 1996 regular City Council agenda. <br /> <br />Mastel moved, Goedeke seconded that the motion for selection of a developer <br />for the Gateway Project be amended to state the selection of a developer for <br />the Gateway Project be put on the December 9, 1996 regular City Council agenda <br />or not later than December 23, 1996. <br /> <br />Mastel moved, Goedeke seconded, that the amended motion for selection of a <br />developer for the Gateway Project be amended to state the selection of a <br />developer for the Gateway Project be put on the first regularly scheduled City <br />Council meeting in December, 1996. Roll Call, Ayes: Maschka, Wiski, <br />Goedeke, Mastel, and Wall. Nays: None. <br /> <br />Page 4 <br /> <br />AGENDA <br />ADDITION <br /> <br />GATEWAY <br />PROJECT <br />