A 25-year financing proposal committing future property taxes to a major retail and housing project in northwestern Roseville got City Council approval Monday night, as the long-debated Twin Lakes redevelopment moved forward.

By establishing a tax-increment financing district on nearly 80 acres of the site property, the council — on a 3-2 vote — cleared the way for construction of 730 housing units, 225,000 square feet of office space and 325,000 square feet of shops and restaurants.

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TIF districts allow the increased taxes that result from improved properties to be returned to the developer as a reimbursement for upfront costs. Twin Lakes proponents say the incentive is necessary to make the redevelopment and environmental cleanup financially feasible. The area is frequently described as blighted and is known to harbor the toxin TCE in its groundwater.

Twin Lakes opponents, more than a dozen of whom spoke during a public hearing Monday, criticize TIF as a subsidy for developers.