75D - MERGER S.A. REDEVELOPMENT - Laserfiche WebLink

Home Browse Search

3. Why have they shaded the areas (refers to the project area boundaries) when things have changed considerably? Should the shading be changed? Shouldn't areas be unshaded because of redevelopment? If revitalized, why are they still showing on the map? If I tore my building down and built a new one, would my taxes increase? The shaded areas indicate the boundaries of the Project Areas. The boundaries of the Project Areas are determined at the time of project adoption (unless otherwise amended to add or delete territory). The Project Areas have been in existence from between 15 and 30 years. It is expected that there would be considerable improvement and that properties that are no longer blighted are included in the Project Areas. Because redevelopment is financed from tax increment generated largely from new development (may also be generated from significant rehabilitations and property sales) the improved properties provide the funding to revitalize other properties. If you deleted properties as they were improved there would be no way to finance redevelopment of the balance of the project area. If a building is tore down and a new building is constructed the owner's property tax would increase. However, this is true whether the property is in a redevelopment project or not. The property is not further taxed by its inclusion in a redevelopment project. Redevelopment is a reallocation of property tax and is not a new tax or an increase in property taxes. 4. How do I get more information about redevelopment? I did not know I was in a redevelopment area. Several Agency staff people were identified at the meeting. It was suggested that persons having specific questions about their property or needing a more detailed explanation of redevelopment meet with one of the staff persons following the presentation. Agency staff and the consultant remained after the presentation and the conclusion of public comments to answer individual questions that persons did not what to raise in the group forum or for which they wanted additional information. 5. What does expiration date mean? Each redevelopment plan has a duration or expiration date. Plans adopted before January 1994 have a 40-year life (or January 1, 2009 whichever is later) with the possibility of a 10-year extension if certain findings can be made and following the plan amendment process, which includes a public hearing. Supplement to the Report to the City Council for the Merger of the Santa Ana Redevelopment Projects EXHIBIT 4 Keyser Marston Associates, Inc. Page 8 PA0408010.SNTA:CK:lp 19090.003.007.œ12M14 75D-213