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KRASS MONROE, P.A. ATTORNEYS AT LAW Mary E. Molzahn, Sr. Development Analyst James R. Casserly, Esq. Email marym@krassmonroe.com Email jamesc@krassmonroe.com Voice Mail (952) 885-4382 Voice Mail (952) 885-1296 MEMORANDUM To: City of Roseville Attn: Housing and Redevelopment Authority Commissioners City Council Members Cathy Bennett, Economic Development Specialist Dennis Welsch, Community Development Director From: Mary E. Molzahn, Sr. Development Analyst James R. Casserly, Esq. Date: April 19, 2004 Re: Potential HRA Tax Increment District Our File No. 11637-3 We have been asked to provide direction on how the Roseville HRA (the “HRA”) should proceed to create a redevelopment tax increment financing district if it wishes to do so. This memorandum was originally prompted by the proposed acquisition of the Wu property. Additionally, we have been asked to elaborate on the relationship and roles between the HRA and the City of Roseville (the “City”) in terms of their development and redevelopment activities. 1. In order for the HRA to generate and utilize tax increment, a general planning area (the “Project Area”) and a tax increment financing district (the “TIF District”) must be established. In conjunction with the creation of a Project Area and a TIF District, a Redevelopment Plan and a Tax Increment Financing Plan (the “TIF Plan”), respectively, must be adopted. 2. The Project Area is generally considered a planning area within which specific public purpose activities relating to economic development, redevelopment, housing or pollution are anticipated. A Project Area may be (i) coterminous with the entire geographic area of the city; (ii) a single parcel of land; or, (iii) several parcels of land which may or may not be contiguous. Within the Project Area one 8000 NORMAN CENTER DRIVE SUITE 1000 BLOOMINGTON, MINNESOTA 55437 TELEPHONE 952/885-5999 FACSIMILE 952/885-5969 www.krassmonroe.com