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C�ty CounciI Regular Meeting — 06/20/05 DR.AFT Minutes - Page �6 for same ti�ne and were created due to legislative class arate ck�anges on property several years ago, which had taken 40% of potential redevelopmen� funding, �hus Iengthening the time required to achieve successful projects. Counci�member Maschka noted that histarically, the City of Roseville has decertified districts be%re their legal li�nit in years. Mr. Casserly concurred, and noted that this district could be less than 25 years, which was the limit, but in r�cognition of tax compressian concerns, his analysis used a more canservative approach. Councilmember Kough opined that property owners and developers should be responsible for cleaning up their own properties, rather than �he City, specifically when the developers had money to da so, and couldn't meet the "bui for" �est, and repr�s�nted code issues that weren't enforced. Mayor Klausing requested Mr. Casserly to discuss polluted ]aa�d, "but for" tests, and to address Couneilmember Kough's concerns. Mr. Casseriy addressed incentives and motivatian £oar commercial/industrial property users to clean up properties, if noi considered health hazards; the different l�vels o#' clean up; converting properties to higher and/or different uses; increased valuation of land from approximately $30 Million to approximate�y $220 -$250 Millian due to changing uses and the significance and advat�tages to the community. Mar. Casserly further detailed t�es gen�rated and uses of tax incremen�s; percentages of taxes actually available for project expenses, e��i�nated at 54%; and taxes of 6 to 7% available and used for �nvironmental remediation costs through a propo�ed Hazardous Substance Subdistric�. Councilmember Ih1an question�d that percentage or rate af return the developer would anticipate from this public investment, or their projected profit; and nuestianed the feasibility of the project if the rate of return was fewer than 10%. Counci�meinber Ihlan