The deal has paved the way for $150 million in infrastructure improvements on more than 4,700 acres of land that would be annexed by Roseville. Once fully developed, the land should provide space for as many as 30,000 new homes. Placer will receive upwards of $20 million annual in sales and property taxes.
In 2005, the two parties tried to find common ground on a revenue sharing deal, but when none could be found the deal fell apart. Now, it appears that Roseville will grow and so too will Placer’s coffers.
From the Sacramento Bee:
Placer County’s board of supervisors reached an agreement today on a tax-sharing deal with the City of Roseville that clears the way for a significant expansion of the city’s borders and population.
The agreement, once approved by the City of Roseville, would allow the city to expand by 4,700 acres. The developments there are expected to include 30,000 new homes over the next couple decades.
The deal was unanimously approved by the board Tuesday. The Roseville City Council is expected to take up the item in October.
Read the full article here.