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REQUEST FOR CITY COUNCIL ACTION <br />DATE: 7/23/O1 <br />ITEM NO: �_g <br />Depart,�nentApproval: ManagerApproval: Agenda Section: <br />t /�jLQ •�(��� CONSENT <br />Item Description: Livable Communl �es Demonstration Application — Opportunity Grant <br />Twin Lakes Business Park <br />1.0 Requested Action <br />1.1 City staff is requesting authorization to submit a grant application within the Metropolitan <br />Livable Communities Demonstration Program for additional planning fund dollars referred <br />to as Opportunity Grants to assist in additional planning of the Twin Lakes Business Park. <br />2.0 Background <br />2.1 Since 1996, the Metropolitan Council has provided funding to innovative proj ects that <br />promote a livable community under the Livable Communities Demonstration Program. <br />2.2 The Opportunity Grants are available to fund local initiatives to develop project -specific and <br />site-specific plans according to smart growth principles. The funds should beused to pay for <br />the costs of shaping development plans and project implementation tools. <br />2.3 The City of Roseville has invested years of work into the development of the Twin Lakes <br />Business Park Master Plan. Most recently the City Council approved a comprehensive plan <br />amendment and the draft AUAR and mitigation plans for the Twin Lakes Business Park. <br />3.0 Policy Implication/Fiscal Impact <br />3.1 To proceed in fostering the redevelopment of the area, additional planning must be provided <br />to ensure that the plan is feasible both from a market and financial perspective. <br />3.2 Staff estimates that $75,000 -$100,000 worth of planning still remains to ensure that the <br />master plan can be implemented. These planning costs include but are not limited to the <br />following: <br />. Conducting a full financial feasibility analysis looking at future investment, the changes in <br />the tax laws and public financing options. <br />. Updating the infrastructure plan and issuing a feasibility study for the Parkway. <br />. Conducting appraisals for the Twin Lakes Parkway right of way. <br />RCA � Livable Opportunity Grant Authorization 2001 - Page 1 of 2 <br />