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Department Approval Item Description BACKGROUND l�'�, Jy REQUEST FOR COUNCIL ACTION Date: 06/15/09 Item No.: 12.h City Manager Approval Consider Acquisition of portions of property located at 2690 Cleveland Ave. and 1947 County Road C, City of Roseville for road and construction purposes The City is in the process of negotiating with the property owners within the Twin Lakes redevelopment area to acquire portions of their property for road and infrastructure purposes. Prior to the June 15, 2009 Regular Meeting, the City Council will be meeting in closed Executive Session to discuss the possible acquisition of portions of 2690 Cleveland Ave. and 1947 County Rd. C, City of Roseville. The property, owned by Roseville Acquisitions LLC, is needed to construct Phase I of the Twin Lakes infrastructure project. As a result of the Executive Session, the City Council may be taking formal action in regards to the purchase of the aforementioned properties. A resolution to authorizing the purchase of 2690 Cleveland Ave. and 1947 County Rd. C has been included as part of this case. POLICY OBJECTIVE The action being considered will lead to the construction of infrastructure in the Twin Lakes redevelopment area. Twin Lakes has long been indentified in the Roseville Comprehensive Plan as in important redevelopment area for the City. BUDGET IMPLICATIONS The costs for the acquisition of 2690 Cleveland Ave. and 1947 County Road C will initially be funded from the existing balances of Twin Lakes TIF District #17. As the property within Twin Lakes redevelops, property owners will pay their prorated share of the infrastructure costs as outlined in the Twin Lakes Infrastructure Study. REQUESTED COUNCIL ACTION Will be based on City Council discussion at the June 15, 2009 Executive Session Prepared by: Patrick Trudgeon, Community Development Director (651) 792-7071 Page 1 of 1