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<br />ROSEVILLE PLANNING COMMISSION <br /> <br />Pagett 13 <br /> <br />Wednesday, July 6, 1988 <br /> <br />Leslie Berry, 2835 Merrill inquired about the tax increment <br />financing proposed for the development, the effect on the <br />existing running path on Lexington Avenue, and how a developer <br />would maintain architectural control over the commercial building <br />when they are intending to sell it. Waldron summarized what tax <br />increment financing is, and the specific numbers being proposed <br />for this development. <br /> <br />Goedeke asked if the tax increment financing was for both the <br />shopping center and the residential. Waldron responded that it <br />was only for the residential. <br /> <br />Mrs. Piersdorf, 2835 Griggs, asked if the value of land would <br />differ if the site where zoned a different way. Waldron <br />responded that sometimes zoning affects value but it is most <br />often what someone is willing to pay. <br /> <br />Piersdorf asked if the city ever down zones property. Dahlgren <br />replied that it is difficult to rezone downward, and that it <br />typically happens only when there is some overwhelming, overall <br />planning benefit to be gained. <br /> <br />Peirsdorf pointed out that there is a lot of empty space in other <br />centers in the area, and asked what would make this one <br />successful. <br /> <br />Kevin Guise, 2798 Fernwood, asked what the number of years would <br />be for the tax increment financing on the project. Waldron <br />responded that the timing of tax increment projects varies, based <br />on the timing of the proj ect. In this particular case, the <br />project would have a 25 year life, but that the city could <br />decertify the project in 7 - 9 years. <br /> <br />Gregory indicated that the pathway along Lexington Avenue would <br />be maintained as well as an internal pathway through the site. <br />Gregory also stated that the architectural control of the <br />commercial building is controlled by the city approval process. <br /> <br />Johnson inquired about the type of stores which might be in the <br />commercial building. Jeff Naumacher from Coldwell Banker stated <br />that they are researching possible tenant mix, that the center <br />would have a 1~ mile trade area and would be service oriented <br />with uses like a drug stores, a sit-down restaurant, a <br />convenience store with or without gas, a small grocery store, a <br />deli, a specialty store and personal service businesses such as a <br />laundry and a photo store. <br />