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2000_0710_packet
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2000_0710_packet
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Roseville City Council
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Council Agenda/Packets
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( Tax Increment Policy � <br />Pnrnose <br />The City of Roseville TaY Increment Financing Policies are established to primarily enhance private sector employment growth <br />and job retention, plus tax base expansion. Added priorities include: upgrading of obsolescent public and private facilities, <br />remediation of pollution, provision for natural resource retention or remediation, expansion of life cycle and affordable housing <br />renovation and new construction. It seeks to involve the community, the region, and other taYing jurisdictions in a fair and open <br />process. The policy shall meet the requirements of Minnesota Statutes 469. It will be honest to its citizens, fair to all affected <br />taYing districts, comprehensive in calculating its impact, open to public and governmental scrutiny and comment, and treat all <br />applicants in a fair manner--yet recognize that fair treatment may not necessarily be interpreted as equal treatment to all, due to <br />the limited resources available. <br />Scope <br />SECTION 1. General Policy Statement. It is the City's policy to encourage and enhance individual choice in jobs and in <br />housing to tit our citizens needs; to encourage and enhance economically strong, stable job producing commercial and industrial <br />projects within the city which will create employment opportunities; to provide housing affordable to our residents; to provide <br />life cycle housing opportunities; to provide for pollution abatement and soil correction; to protect and enhance natural resources; <br />and to protect individual and community property values by redeveloping blighted buildings, land, and public infrdstructure. The <br />City will use tax increment financing investments onlv in verv snecific cases where a needed �ublic obiective is identified and <br />annroved and nrivate cavital could not be attracted. to accomplish this obiective. The City will be proactive in forming <br />government collaborations and leverage private investments in areas or sites where a project would not otherwise be financially <br />feasible. <br />To implement these general policies, it is also necessary to establish a policy regarding the orderly process of planning and <br />budgeting to fulfill legal and operating requirements. Such a policy will provide fiscal guidance for elected officials, staff, and the <br />community to set priorities and meet the needs of the citizens in a methodical and financially prudent manner. <br />SECTION 2. Public Puraose Statement for Economic and Housine Develo�ment. The City Council shall consider the <br />following public purpose issues after completion of an application by the developer: <br />A. The project shall meet the legislative criteria and intent for the use of tax increment subsidies. The figures supplied in <br />the application shall be checked for accuracy. The School District and County shall be approached by the developer <br />and presented with an application for their review. <br />The City shall utilize the services of qualified advisors includins but not limited to indenendent leeal, and accou�ntin� <br />and financial and lannin aul�ti�c�tavelopment expertise to provide the City Council with additional project <br />analysis. <br />B. The developer shall demonstrate that the project as proposed cannot be built without the use of a public investment <br />incentive; it is understood that these projects would not be financially feasible without tax increment assistance from <br />the City. <br />Assistance to promote community development objectives shall typically be in the form of pay-as-you-go taY <br />increment financing. Each project will be evaluated on a case by case basis. The City Council reserves the right to <br />provide up front subsidies for priority projects. <br />C. The project shall attempt to create more of a tax basis than it consumes in City, County, or School services. The public <br />services (and the estimated costs) required by the proposed use shall be calculated. Within districts that are prohibited <br />from pooling funds, any excess increment generated shall be returned to the School District and the County. <br />All new districts will not export funds, but may receive additional funds under the guidelines of Section 3. <br />D. The public shall have adequate legal notice of this proposal and been given an opportunity to review the project details <br />before and during public hearings. The use of community polls may be considered to assess community interest in <br />proposed infrastructure projects. <br />E. Significant new employment or housing choices shall be created at the site that will benefit a broad segment of our <br />community. <br />
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