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<br />North Harbor Redevelopment Project
<br />
<br />The North Harbor Redevelopment Project was adopted on July 6, 1982 by Ondlnance
<br />No. NS-1637. On October 3, 1994, In accordance with AS 1290, the North Harbor
<br />Redevelopment Plan was first amended by Ondlnance No. NS-2234 to establish certain
<br />time limits Including a time limit on Incurring debt of Januaty 1, 2004; a time limit on plan
<br />effectiveness of July 8, 2012 snd limit on receipt of taX Increment/repayment of debt of
<br />July 6, 2022. The second amendment adopted on May 6, 1996 by Ondinance No. NS-
<br />2291 extended the Agency's eminent domain authority within the project area by 12
<br />years until May 6, 2008. On August 2, 1999, the thind amendment adopted by
<br />Ondlnance No. NS-2396 extended the time limit on plan effectiveness by 10 years to July
<br />6,2022, snd the limit on receipt of tax by 10 yesrs to July 6, 2032 to coincide with the
<br />maximum time limits prescribed by AS 1290 as amended þy a summary ordinance In
<br />aecondance with AS 1342. The fourth amendment adopted on January 20,2004 by
<br />Ondlnance No. NS-2641 extended the time limit to Incur debt to coincide with tha plan
<br />effectiveness date of JUly 6, 2022. The proposed Merger will be the fifth amendment to
<br />the North Harbor Redevelopment Plan,
<br />
<br />South Harbor Redevelopment Project
<br />
<br />The South Harbor Redevelopment Project was adopted on July 6, 1982 by Ondlnance
<br />No. NS-1638. On August 3,1992, by Ordinance No. NS-2167, the South Harbor
<br />Redevelopment Plan was amended to: 1) extend the Agency's eminent domain authority
<br />within the project area by 12 years until August 3,2004; 2) modify certain land use
<br />provisions; 3) Increase the tax Increment limit to $2,600,000,000; 4) Increase the bonded
<br />Indebtedness limit to $1,000,000,000; 5) Increase the time limit to Incur debt from 25 to
<br />30 years until August 3, 2022; and 6) Increase the plan effectiveness of the South
<br />Harbor Redevelopment Plsn from 30 to 40 years until August 3, 2032. On October 3,
<br />1994, the plan was amended a second time by Ordinance No. NS-2234 to reduce
<br />certain time limits In secondance with AS 1290,lncludlng the time limit on Incurring debt
<br />(January 1, 2004), the time limit on plan effectiveness (July 6,2012), and the time limit
<br />on receipt of tax Increment/repayment of debt (July 6, 2022). On August 2, 1999, the
<br />thlnd amendment adopted by Ondlnance No. NS-2396 extended the time limit on plan
<br />effectiveness by 10 years to July 6,2022, and the limit on receipt of tax Increment by 10
<br />years to July 6, 2032 to coincide with the maximum time limits prescribed by AS 1290 as
<br />amended by a summary ondlnance in accondance with AS 1342. The fourth amendment
<br />adopted on January 20, 2004, by Ordinance No. NS-2641 extended the time limit for
<br />Incurring debt to coincide with the plan effectIVeness limit of July 6, 2022. The proposed
<br />Merger will be the fifth amendment to the South Harbor Redevelopment Plan.
<br />
<br />Preliminary Report for the Merger of the
<br />Santa Ana Redevelopment ProJecta
<br />
<br />.IüUI.UI.L 'l: ~
<br />
<br />Keyaar Marston AssocIates, lno,
<br />Page 6
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<br />55C-24
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