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KRASS MONROE, P.A. A T T O R N E Y S A T L A W James R. Casserlv,Esa. Email ;c�rnc•s� ��i`fir �,s:L��r�r.��rac•.CO]!7 Voice Mail (952) 885-1296 MEMORANDUM To: City of Roseville Attn: Neal Beets, City Manager Attn: Dennis Welsch, Community Development Director Attn: Chris Miller, Finance Director Attn: Cathy Bennett, Economic Development Specialist From: James R. Casserly, Esq. Greg D. Johnson, C.P.A. Date: July 29, 2005 Re: City of Roseville: Twin Lakes Impact of Hazardous Substance Subdistrict on City Budget Date: 08/08/OS Item: 13. Hazardous Waste Subdistrict Greg D. Johnson, CPA EmC1iI k;,4 ��r�L�n�L�•� � rati trri��a �Y�� .r.r�rr� VoiceMail (952) 885-5994 There has been discussion, and some understandable confusion, about the impact on the City budget of establishing Hazardous Substance Subdistrict 17A (the "HSS"). The tax increment plan for 17A shows the maximum possible increment generated including all areas and impacting all taxing jurisdictions. This amount is $487,086. Using all areas and a "worse case" scenario, the impact on the City budget is approximately $117,000. However, there are several factors that would prevent the full utilization of this potential amount and they are as follows: 1. Opportunity Area 8(Northco) needs to be further analyzed to determine whether its inclusion in the final project is financially feasible. 2. The T.I. revenues may only be used for remediation and other authorized expenses. If the costs are less or there are substantial grants for this purpose, then the tax increment revenues will be reduced accordingly. With lower costs or increased grants, the duration of the HSS will be reduced. 3. Any excess HSS tax increment must be returned to the County for allocation to the appropriate taxing jurisdictions on a pro rata basis. 8000 NORMAN CENTER DRIVE • SUITE 1000 • BLOOMINGTON, MINNESOTA55437-1'f7T TELEPHONE 952l8$5-5999 • FACSIMILE 9521885-5969 www.krassmonroe.com