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5. Change %5 <br /> <br /> Amendment No. 8, Page 42, is hereby revised to <br /> read as follows: <br /> <br />market allows. One example will be the development of Fashion Square <br />into e an expanded regional ene~esed shopping center. The new center <br />will preserve and substantially strengthen the retail located <br />around Fashion Square. As a result expanded commercial services <br />and.goods will be available to the Project Area residents. <br /> <br /> 5. Effect on school Population'and Quality of Education, <br /> <br /> Property Assessments and Taxes <br /> <br /> With regard to school population and quality of education, <br />there are no schools within the project boundaries. There will <br />be, however, beneficial long-range financial effects to the <br />school district in that due to increases in assessed valuation <br />of properties within the Project Area and adjacent to the Project <br />Area stimulated by project activities the school district will <br />have a higher taxing base. Accordingly, increased revenues <br />eventually available to the district should be reflected in a <br />higher quality of education for children of surrounding areas. The <br />project will have little or no effect on school populations as <br />the higher density apartment type Units in the Project Area shoul~ <br />have fewer children than do the single family units presently <br />existing in the area. <br /> <br />The project will have no effect on the tax rate as the <br />Redevelopment Agency has no authority to raise or lower taxes. <br /> <br /> It is expected that the total overall assessed valuation of <br /> <br />properties in the Project Area will increase <br />.to new construction and rehabilitation. <br /> <br />tremendously due <br /> <br /> MAY 9 1975 <br /> <br />'42- <br /> <br /> <br />