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CC_Minutes_2007_1119
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12/12/2007 11:29:06 AM
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12/12/2007 11:29:05 AM
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Roseville City Council
Document Type
Council Minutes
Meeting Date
11/19/2007
Meeting Type
Regular
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Rosedale never asked for TIF, but they got about <br />$600,000 of road improvements on Fairview and B-2. <br />In exchange, the City received $2.4 million a year for <br />it's TIF Fund. This was a clear abuse of the TIF <br />privilege. <br />5. With lots of money coming in, someone in <br />City Hall decided they had to jump start development <br />on the West side of 3 5 W, and came up with the idea <br />of building a bridge over 3 5 W on B-2. That project <br />was funded by TIF money, $4.5 million. <br />6. In 1990, the State Legislature clamped down <br />on Cities excessive use and abuse of TIF; Any <br />districts started. after April 1990 had to use most of its <br />TIF collections for the district's project it couldn't <br />keep collecting money, and spending it elsewhere <br />where in the City as pre 1990 districts could. <br />Roseville still has two pre 1990 TIF Districts open. <br />(TIF 1 -Centre Pointe, and TIF 11 -Old Twin <br />Lakes). <br />3 <br />
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