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<br />IV. , <br /> <br />PRELIMINARY ASSESSMENT OF PROPOSED METHOD OF FINANCING, <br />ECONOMIC FEASIBILITY, AND REASONS FOR INCLUDING DMSION OF TAXES <br />PURSUANT TO SECTION 33870 <br /> <br />Section 33344.5(c) of the CRL provides that the F'rellmlnary Report for the merger contain a <br />preliminary assessment of the proposed method of financing the Merged Project Area, Including <br />an assessment of economic feasibility and tha reasons for Including a provision for the division <br />of taxes pursuant to Section 33670 of the CRL. Economic feasibility, for purposes of this <br />analysis, Is defined to be a comparative analysis of anticipated costs for Implementation of the <br />Merged Project Area and the resulting revenues expected to be generated. Economic feasibility <br />Is determined through a summarized faaslbillty cash flow analysis of the Project Fund for tha <br />Merged Project Area as summarized on the Table 4 cash flow. ' <br /> <br />A. <br /> <br />ESTIMATED TOTAL PROJECT COSTS <br /> <br />A determination of economic feasibility requires an Identification of the future resources to <br />finance future costs associated with redevelopment of the Marged Project Area and the <br />elimination of remaining blighting conditions. Redevelopmant could require significant <br />participation from the Agency In sctlvltles to promote and aChieve the desired goals and <br />objectives of the respective Redevelopment Plans and to address blighting conditions. <br /> <br />The redevelopment program described In this section ouUlnes a set of sctMtieS to be <br />Implemented by the Agency for the purpose of facilitating private reInvestment In the <br />Merged Project Area and eliminating physical and econOmic blighting Influences, and <br />Increasing, Improving and preserving the community'a supply of low and moderate Income <br />housing. The estimated costs of potential future redevelopment programs over the term of <br />the cash flow projection are as follows: <br /> <br />Agency Bond Debt Servica <br />Transfers In (Credit) <br />ERAF (presumed) <br />Administration <br />Contractual Obligations <br />Budgeted Projects <br />MOldable Housing <br />Future Loan Repayments <br />Future Discretionary Uses <br />Total Estimated Expenditures <br /> <br />$231,702,000 <br />(19,804,000) <br />48,040,000 <br />106,763,000 <br />254,318,000 <br />2.456,000 <br />579,692,000 <br />70,458,000 <br />184.270.000 <br />$1,457,895,000 <br /> <br />Preliminary Report for the Merger of the <br />Santa ÞNJ Redevelopment Projects <br /> <br />=.L.II.LT ¡¡ <br /> <br />Keyser Marston AsaocIates. Inc. <br />Page 16 <br /> <br />P_SHT"""", <br />","""'"""""",,, <br /> <br />55C-34 <br />