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��� � <br />��. � 1 , ,_„ J�J 1 <br />. � <br />2 To; Ma�or and Ca�ncil <br />3 Bill Malinen, City Manage <br />4 From: Chris Miller, Finance Direc#or C <br />5 Date: 4c�aber 8, 2007 <br />Date: 10/08/07 <br />Iiem: 11.i <br />7C�F �?istri�t #� <br />G Re: Consider Extending T� Inere�nent �inaracir�g (TI�') Dis�ric� #�1 (Centre Pointe} for <br />7 Environ�ental Cleanup in Tr�vin La�es <br />�r <br />IO <br />I1 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />zo <br />zt <br />22 <br />23 <br />24 <br />25 <br />26 <br />Baekground <br />The ��agine Roseville 2025 Vision Doeuar�zent zde�ti��d a desire by t�e comm�r�ity for the City <br />io take a proacti�e stance an enviror�nental stewards�ip. �ver the pa�t few years a number a� <br />sites rvithin t�e City were identi�ied as havi�a� contarni�ated sail. This incluc�es �he �'ormer <br />Maun�s View Sc�ool District site, and selected properties in the Twi�� Lakes Redevelopment <br />Area. <br />Wk�ile these contaminated sites az�e al1 deserving of atter�tion, t�ie Tw'rn Lalces area represents <br />perhaps the larges� known site aild arguably should be address�d as soon as practical. To that <br />ei3d, Staff has identifiet� a patenfiial strat�gy for funding envirozanr�ental clean�p. This strategy <br />requires tha� exiensian of t�e Centr� Pointe TIF District. <br />Centre Poi�te TIF Dis�rict Overv�e�v�v <br />The Centre Pointe TTF District is a scattered si�e redevelo�rrient district ihat was established in <br />1982. It includes primarily those parcels �hat comprise tlie Centre Pointe Business Park which <br />includes of�ces and �n�els along Cleveland Avenue, between County Raad C and County Road <br />D. Under tl�e curre��i TTF Plan, t�iis district is seheduled to close on December 3�, 2007. <br />27 <br />28 The District itself has fulfilled ail of t�e City's legal obligations and therefore its clasure wilt not <br />29 have any negative impacts. How�ver, the City does have the option of extending tlae Districi for <br />34 ai� additinnal two years and moc�iFying �he TTF Plan to a�sist in environmental cleanup in Twin <br />3� Lakes. The District ge�zerates approximately $1.1 million az�nual�y in capt�zred reven�es. Tf the <br />32 Czty extended the dis�rict arzd zna�i�ed tl�e TIF Plar� for 2007-2009, the City would capiure ov�r <br />33 $� Million dollars. <br />34 <br />35 <br />36 <br />37 <br />a$ <br />39 <br />40 <br />41 <br />�2 <br />If tl�e City extended the District as outlined above and was successful at reclai�i�g t�� <br />enviro�mental clea�up grants that were previously awaarded but released, �he Ci�y co�Id az�r�ass as <br />mucl� as $7 r�illiata dallars, Preliminary es�i�nates of tl�e Twin Lakes environm�ntal clea�up <br />ca�ts are $b-9 million. Eli�nir�atii�g these envirozamie�tal clean�p casts from th� everatua� <br />redeveiopment project will substantially levei the playing fi�ld in coznparison to more desirabte <br />areas it� the Twin Cities za�etro area. in t�rn, t�is will greatly enhance the City's ability t� <br />redevelop Twin Lalces. <br />