Duran announces tentative agreement on long stalled City/ County Share Deal
Deal would permit $150 million in West Roseville Development and Open Space Preservation, Create Jobs, and guarantee tens of millions in new revenue for City of Roseville and Placer County
For Immediate Release
September 12, 2011
Roseville: District 1 Supervisor Jack Duran today announced that the City of Roseville and Placer County have reached a tentative tax sharing deal that would permit more than $150 million in infrastructure improvements at Sierra Vista, Creek View, and Reason Farm Environmental Preserve in West Roseville
The agreement will be voted on by the Placer County Board of Supervisors at their September 13th meeting. The City is also expected to take up the matter during the month of October.
The City of Roseville began processing these specific plans in 2005, but an agreement dealing with tax share and annexation issues had been stalled since 2008. With Placer County facing ongoing budget challenges and high unemployment, its completion has been a central priority of Supervisor Duran’s since he took office in January of this year.
“Completion of this agreement is a win-win for all parties,” said Supervisor Duran. “It puts $150 million in private sector investment to work creating jobs in our community, updates our infrastructure, keeps our commitment to open space and conservation, and provides the revenue certainty needed to protect and deliver vital services to our growing community well into the future.”
Under the terms of the proposed deal, Placer County will support the City of Roseville’s annexation of the Sierra Vista and Creek View Developments, as well as Reason Farm Environmental Preserve. In return, the County will receive a percentage of Property and Sales Tax Revenue generated from planned developments and improvements to the properties, which are projected to near $20 million annually once currently planned projects are completed.
The Sierra View and Creek View Developments are expected to include more than 12,000 residential units, as well as shopping centers and parks.
Protected through the Placer Land Trust’s West Placer Habitat Protection Program, Reason Farm Environmental Preserve is expected to include a storm water retention basin, as well as recreation, open space, and habitat restoration projects for endangered species.