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Department Approval � �. Item Description l�'�, Jy REQUEST FOR COUNCIL ACTION Date: June 15, 2009 Item No.: 7.e City Manager Approval � / Second Finding of Parcel Coverage and Structurally Substandard Buildings in the Twin Lakes Redevelopment Area 1 1.0 BACKGROUND 2 In June 2005, LHB, an architecture and engineering consulting firm, completed the Report of 3 Inspection Procedures and Results for Determining Qualifications of a Tcrx Increment Financing 4 (TIF) District as a Redevelopment District Roseville TIF No. 17. In this report, LHB concluded 5 that the area of then-proposed TIF No. 17 met the statutory requirements (§468.174 subd. 10) to 6 qualify the area as a redevelopment TIF district. 7 8 With the lack of development in the Twin Lakes area since the creation of the existing TIF 9 district, the anticipated increment within this district is diminishing. The City may want to 10 decertify this district and create a new district sometime in the future. To qualify as a 11 redevelopment TIF district, 70 percent of the area of each parcel is occupied by buildings, 12 structures, utilities, or other improvements, and 50 percent of the buildings are structurally 13 substandard. Given the imminent demolition of several of the buildings within the area, staff 14 feels it is important to re-qualify the buildings as substandard prior to demolition in order to 15 preserve the City's ability to create a new redevelopment TIF district in the future. 16 17 When creating a redevelopment TIF district, cities may include parcels with substandard 18 buildings that were demolished prior to the establishment of the district. This can be 19 accomplished by the city council passing a resolution that makes a finding that substandard 20 structures occupied the site before the building is demolition. After finding the buildings 21 substandard, a city has three years three years to approve a TIF district and request for 22 certification from the County. Please note, that at this time, staff is not requestin� the creation of 23 a new district, but is requestin� onlv that the Council make a new findin�s in order to keep the 24 full arrav of options available to the Cit� 25 26 Staff retained the services of LHB to make a determination on whether the parcels continued to 27 meet the coverage test and the buildings met the building condition test. The firm has completed 28 this work and concluded that the area still meets the 70 percent parcel-coverage requirement and 29 that ten of the sixteen remaining buildings are substandard and have continued to deteriorate 30 since 2005 analysis. (See Attachment A to review the memorandum prepared by LHB.) Page 1 of 2