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2004_0920_Packet
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2004_0920_Packet
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2� Leverage (creating investment incentives) private or public agency capital andlor <br />operating support. Infrastructure investment will frequently be used in conj unction with <br />other financing sources. <br />3� Meet a defined, critical community or regional need. <br />4� Meet specific infrastructure investment policies including: <br />a. The project need and investment will be defined through the public policy <br />process. <br />b. Affected parties and stakeholders of interest may be engaged through traditional <br />commissions, ad hoc committees, review boards, or specifically constituted task <br />forces. <br />c. The project will meet local or regional objectives. <br />d. Collaboration will be undertaken with affected agencies and jurisdictions. <br />e. Proj ects will meet one or more of the general obj ectives by: <br />i) establishing partnerships with or financial supportfrom private investors <br />and/or public nonprofit agencies. <br />ii) attracting real estate investments which enhance the property tax base <br />and/or the employmentbase. <br />iii) attracting or generating other sources of revenue. <br />£ Investments in infrastructure should enhance the community quality of life, <br />provide customer oriented service improvements, and include amenities which <br />enhance the general aesthetics of the project and community. <br />g. Projects will be soughtwhich develop broad-based proactive partnerships, create <br />innovative design or foster leading edge arrangements for design, building, <br />financing or operating approaches. <br />C. An InfrastructureMaintenance Fund of 5% of incrementrevenues after debt service shall be <br />established to provide for future maintenance and replacement of public facility infrastructure. <br />D. A Special Permanent Reserve of 5% of increment revenues after debt service shall be <br />established. The reserve will provide additional taxpayer protection by providing funding in the <br />event there should be substantial negative changes in the local economy such as property <br />devaluation, or it could be used to provide for defeasance or early retirement of tax increment <br />debt in the future. <br />�F �f 4. ��IPic � � for jsfe�atr�x�tur� Development: <br />From time to time, the City Council may choose to invest (as per Section 3B, above) in infrastructure <br />to improve the quality, quantity, effectiveness, and efficiency of public improvements, programs, and <br />services. The City may assist (or share with a collaborator from other public or private sector agencies) <br />in the provision of such improvements. <br />Page 5 City of Roseville Tax Increment Policy <br />ADOPTED 9/09/96, Amended and Restated ?�10/97, Reprinted June 1999 <br />
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