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Department Approval <br />� <br />Item Description <br />BACKGROUND <br />��i � <br />� <br />REQUEST FOR COUNCIL ACTION <br />Date: 04/12/2010 <br />Item No.: 12.b <br />City Manager Approval <br />Consider Acquisition of Portions of Property Located at 1885 — 1915 <br />County Road C W for the Phase 2 Twin Lakes Infrastructure Project <br />The City is in the process of negotiating with the property owners within the Twin Lakes <br />redevelopment area to acquire portions of their property for road and infrastructure purposes. <br />Prior to the April 12, 2010 Regular Meeting, the City Council will be meeting in closed <br />Executive Session to discuss the possible acquisition of portions of 1885 — 1915 County Road C <br />W. <br />As a result of the Executive Session, the City Council may be taking formal action in regards to <br />the purchase of the aforementioned properties. <br />POLICY �BJECTIVE <br />The action being considered will lead to the construction of infrastructure in the Twin Lakes <br />redevelopment area. Twin Lakes has long been identified in the Roseville Comprehensive Plan <br />as an important redevelopment area for the City. <br />BUDGET IMPLICATIONS <br />The costs for the acquisition of the property needed for the roads and utilities and the <br />construction of the infrastructure will be reimbursed by a grant from the Department of <br />Employment and Economic Development and existing TIF balances. Any City funds used will <br />be recuperated from developers through the adopted cost allocation process. <br />REQUESTED COUNCIL ACTION <br />The action taken will be based on City Council discussion in the April 12, 2010 Executive <br />Session. <br />Prepared by: Jamie Radel, Economic Development Associate (651) 792-7072 <br />Page 1 of 1 <br />