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Roseville Has Reduced the Number of TIF Districts - Roseville has created fewer <br />districts (16) than surrounding communities (35+) and does decertify districts in a timely <br />manner. One of the 16 districts was decertified prior to 2000. And, Roseville's TIF <br />districts have declined from 15 districts in 2000 to 6 districts in 2002. Roseville's Tax <br />Increment Revenue was $7.7 million or 118% of the City Levy amount of $6.5 million in <br />2000. Roseville's 15 TIF Districts encompassed 565 acres or 6.1 % of the total land area <br />in the City. In 2004 Roseville's Tax Increment Revenue declined to $2.5 million which <br />was 28% of the City Levy <br />amount in 2004 of $9.1 <br />million. Roseville's 6 TIF <br />districts now encompass 314 <br />acres or 3.55% of the total <br />land area of the City. <br />Currently no excess <br />increment is being collected. <br />All tax increment revenue <br />collected is used to cover <br />outstanding debt obligations. <br />TIF Districts Remaining Payments <br />2004 2005 2006 2007 2008 2009 2010 2011 <br />.�.,6 <br />■TF#73 <br />■TIF#71 <br />.�.,o <br />� �., <br />Twin Lakes Situation: The Twin Lakes Development encompasses approximately 275 <br />acres of land located in the northeast quadrant of I-35W/Cleveland Avenue and County <br />Road C. Redevelopment areas within Twin Lakes equals approximately 170 acres. <br />The approved redevelopment master plan includes mixed-use development providing <br />as much as 2.5 million square feet of multi level office, service retail and office and <br />showroom facilities plus 600 units of housing. The renewal plan is estimated to <br />generate over $400 million in new construction value and 5,000 or more new jobs <br />generating $30 million in new wages. However, this will not and has not occurred <br />without the use of Tax Increment Financing and other public redevelopment financing <br />tools. <br />0 <br />