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The character and standards governing the development of this park and �i E system are outlined in a separate document: Roseville's Patllway Master Plan, Design and Guidelines VIII. Tax Increment Financing Redevelopment, � its very nature, is more costly tl`� new development in second and third-ring suburban fields. To remain competitivewith the growth in this suburban areas, Roseville has adopted policies which provide incentives to "level the playing field" for redevelopmentin a fiist-ring suburb. The City attempts to make redevelopmentin Roseville as cost effec�ive for the developer and business as first �ime development in the second- and third-ring suburbs. Therefore, all of the Twin Lakes RedevelopmentArea, exceptfor the eastem edge, is within Tax IncrementFinancing (TI�'� Districts. (Referto Twin Lakes Tax IncrementFinancing DistrictMap). The majority of the area is within TIF District 11, which was certified in 1989. Small portions of the area are within TT�' Districts 7 and 9. TI� District 11 will be in place until 2014. ('I`IF Districts 7 and 9 will be decertified in pay 2002). The City has also created a Hazardous Substance Subdistrict to generate additional funds to assist witll cleanup of contaminated properties along the northeast side of Arthur Street. To date, the City has m.im�dt�ed over $10 million of t�u increment funds to facilitate the cleanup of contaminated sites and to facilitate the developmentof new buildings v�thin the area. Approximately $3.3 million l�as baen utilized for cleanup while the remaining $6.7 million has been used for redevelopment incentives such as land acquisi�ion write down assistance, building demoli�ion, soil correction and other site improvements. The sources of f'undin� for the City's investYnent (which is normally paid back in approximately 12 years) include: shared project cash flow, tax increments, shared proj ect sale proceeds, subdistrict revenues, Metropolitan Council, State, and EPA grants and recovery of environmental clean-up costs from previous properiy owners. In 1990 the City contacted numerous developers to take the lead in redeveloping the area in accordance with the Twin Lakes Redevelopment Land Use Plan. Originally, Trammel Crow Company approached the City and began negotiations witll City staff to develop the area. Unfortunately, that deal fell apart and the City then tried to id�ntify additional poten�ial developers. City staff contacted brokers, realtors and also members of NAIOP to try to identify two or three additional developers to carry out the Twin Lakes plan. Developers expressed reluctance to accept the rislc of being the first to redevelop the area. Ryan Companies, Minneapolis, however, stepped forward and nego�iated a development agreement with the City. The agreement specified that the City would provide up-front fimds from its i�c increment financing pool when available to assist in land acquisi�ion, demoli�ion, and clean up. Ryan Companies would, in t�, redevelop the sites and provide the City with shares of cash flow and proceeds from the sale of proj ects in the future to repay the City's ini�ial investYnen� As part of the development assistance agreement approved in 1992, Ryan Companies ha s the right of first offer to develop a portion of the properiy in the Twin Lakes RedevelopmentArea This area, as 14