55C-MERGER S.A. REDEV PROJ AREA - Laserfiche WebLink

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. South Main Redevelopment Project The South Main Redevelopment Project was adopted on July 6, 1982 by Ordinance No. NS-1639. On October 3, 1994,ln accordance with AB,1290, the South Main Redevelopment Plan was amended by Ordinance No. NS-2234 to establish certain time limits including a time limit on Incurring debt of January 1, 2004; a time limit on plan effectiveness of JUly 6,2012; and a limit on receipt of tax increment/repayment of debt of July 6, 2022. On July 17,1995, the redevelopment plim was amended a second time by Ordinance No. NS-2256 to Increase the tax increment ($2,000,000,000) and bond debt ($600,000,000) limits, establish eminent domain suthorlty for 12 years (July 17, 2007), and add projects to the redevelopment plans capital Improvements list. The third amendment adopted on August 2, 1999 by Ordinance No. NS-2396 extended the time limit on plan effectJveness by 10 years to July 6, 2022, and the limit on receipt of tax by 10 years to July 6,2032 to coincide with the maximum time 11m lis prescribed by AB 1290 as amended by a summary ordinancé In accordance ,with AB 1342. The fourth amendment adopted on January 20, 2004 by Ordinance No. NS-2641 extended the time limit to Incur debt to coincide with the plan effectiveness limit of July 6, 2022, The proposed Merger will be the fifth amendment to the South Main Redevelopment Plan. Bristol Corridor Redevelopment Plan . The Bristol Corridor Redevelopment !"roject was adopted'on December 4, 1989 by Ordinance No. NS-2039. The Bristol Corridor Redevelopment Plan wss amended on October 3, 1994, by Ordinance No. NS-2231 to exempt certain properties from eminent domain. On October 3,1994, In accordance with AB 1290, the plan was amended a second time by Ordinance No. N5-2234 to establish certain time limits Including a time limit on Incurring debt of December 4, 2009; a time limit on plan effectiveness of December 4,2024 end limit on receipt of tax Increment/repayment of debt of December 4,2034. On August 2, 1999, the third smendment adopted by Ordinance No. NS-2396 extended the time limit on plan effectiveness by 5 years tò December 4, 2029 and the limit on receipt of tax by 5 years to December 4,2039 to coincide with the maximum Ume limits prescribed by AB 1290 as amended by a summary ordlnsnce In accordance with AB 1342. Tha proposed Merger will be the fourth amendment to the Bristol Corridor Redevelopment Plan. . Preliminary Report for the Merger of the Santa Ana Redevelopment projects SJUu..,.I.T " Keyser Marston Asaodates, Inc. Page 7 __,SNT""""" ,-,."."""""'" 55C-25