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REQUEST FOR COUNCIL ACTION <br />DATE: 09/27/04 <br />ITEM NO: 10. <br />DepartmentApproval: Maaa��r A��r���: Agenda Section: <br />DPW/CB <br />Item DeSCriptiOn: Consideration of Continuation of the Contract for Exclusive <br />Negotiations Between The City of Roseville, Minnesota and The <br />RottlundCompany, Inc. for the Twin Lakes RedevelopmentArea <br />�FF 3��3� <br />1.0 REQUESTED ACTION <br />].1 By resolution, authorize (or termmate� the Contract for Exclusive Negotiations <br />between the City of Roseville, Minnesota and The Rottlund Company, Inc. for the Twin <br />Lakes Redevelopment Area. <br />�+� BACKGROUND <br />�, � In December 2003 the City Council chose the "Master Developer" concept to implement <br />a development plan for Twin Lakes Redevelopment Area. In addition, the City Council <br />established a 6 month Stakeholders Panel process to work with the Master Developer on a <br />refinement of the development concepts. <br />�� � On March 15,2004 the City Council approved a Twin Lakes Contract for Exclusive <br />Negotiations with The Rottlund Companies. <br />�. � January 29 — July 12,2004 — Twin Lakes Stakholder Panel process. Twenty-five <br />members participated in 11 workshops relating to Twin Lakes and the Rottlund <br />Companies proposal for development. <br />�. � August 9,2004 — City Council directed staffto work with Rottlund Homes to further <br />develop, and refine for City Council consideration and action, a financial plan, based on <br />the following criteria: <br />a. The current pay-as-you-go Tax Increment Financing (TIF) Policy will not change; <br />b. Considerationof spreading fiscal disparities outside the district will not be <br />considered; <br />c. Considerationto the use of General Obligation (G.O.) bonds will not be given, <br />with the exception of use of G.O. bonds for a portion of the roadways given their <br />community-wide value and justification as part of the overall community <br />infrastructure; <br />PF3543 - RCA (09-27-04) - Page 1 <br />