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

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. 8. Future Loan Recavrnents The Table 4 cash flow projects potential cash deficl1s, such )hat short-term loans may be required, The deflclts sre primarily the result of anticipated ongoing ERAF payments to the Slate to address Slate budget deficits, In which the Agency Is assumed to borrow the required ERAFpayment from the Housing Fund. Non-ERAF deflclts are assumed to be funded from other Agency finllnclng sources as necessary over the term of the projection. The projection assumes that such loans can be advanCl!d to the Agency to meet any future cash deflcl1s, with the loan principal and Interest (assumed at 6%) to be paid on a pay-as- you-go basis in subsequent flscal years. These short-term 10llns may be funded from any allowable source noted below. ' 9. Future Discretionary Proleås To the extent future tax Increment revenues continue to be allocated to the Agency and exceed debt service, contractual obligations, sdmlnistratlve costs. budgeted capItal improvement projects, ERAF requirements by the Slate and short term loan repayments, the financial feasibility analysis assumes that the Agency will exercise Its discretion In funding other future projects, programs er activities of benefit to the Merged Project Area, Including the repayment of any outstanding Indebtedness of the Agency. The sntlcipated projects, programs or activities that the Agency may undertake as future resources become availsble have been prasented In this Report. . B. FINANCING METHODS AVAILABLE TO THE AGENCY The Agency has the legal authority and flexibility to implement the revitalization of the Merged Project Area utilizing ¡!Oy er 1111 of the following sources: (1) city; (2) state; (3) federal government; (4) lax Increment funds In accordance with provIsions of the existing CRL; (5) new lax allocation bonds; (6) Interest Income; (7) loans from private flnancill Institutions; (8) lease or sale of Agency-owned property; (9) donations; (10) developer payments; and (11) any other legally available public or private sources. Current provisions of the CRL provide authority to the Agency to create Indebtedness, Issue bonds, borrow funds or obtain advances in Implementing and carrying out the speciflc Intents of a redevelopment plan. The Agency Is authonzed to fund the principal and Interest on the Indebtedness, bond Issues, borrowed funds er advances from tax Increment revenue and any other funds available to the Agency. To the extent that it Is able to do so, the City may slso supply additional assistance through City Io8ns or grants fur various public facilities or other projeå costs. ' . The Table 4 feasibility cash flow reflects net tax Incrament revenues of approximately $845,082.000 over the term of the cash flow. In addition. nearly $579,692,000 would be deposited Into the Agency's Low and Moderate Income Housing Fund. Other funds may be available to the Agency. as assumed on the Table 4 feasibility cash flow, Including Preliminary Report for the Merger of the KXIUlur il KeyserM_on Assodates, Inc. Senta Ana Redevelopment Proðcts Page 19 P_SHTA.-a<..,.. ,......,."""""... 55C-37