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<br />IV. <br /> <br />PROPOSED METHOD OF FINANCING, ECONOMIC FEASIBILITY, AND REASONS <br />FOR INCLUDING DIVISION OF TAXES PURSUANT TO SECTION 33670 <br /> <br />Section 33352( e) of the CRL provide that the Report for the merger contain an assessment of <br />the proposed method of financing the Merged Project Area, including an assessment of <br />economic feasibility and the reasons for including a provision for the division of taxes pursuant <br />to CRL Section 33670. Economic feasibility, for purposes of this analysis, is defined to be a <br />comparative analysis of anticipated costs for implementation of the Merged Project Area and the <br />resulting revenues expected to be generated. Economic feasibility is determined through a <br />summarized feasibility cash flow analysis of the Project Fund for the Merged Project Area as <br />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 Merged Project Area and the <br />elimination of remaining blighting conditions. Redevelopment could require significant <br />participation from the Agency in activities 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 outlines a set of activities 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's 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 Service <br />Transfers In (Credit) <br />Educational Revenue Augmentation Fund (presumed) <br />Administration <br />Contractual Obligations <br />Budgeted Projects <br />Affordable 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 />Page 21 of 190 <br /> <br />Report to the City Council for the Merger of the <br />Santa Ana Redevelopment Projects <br /> <br />Keyser Marston Associates, Inc. <br />Page 16 <br /> <br />PA0403012.SNT A:CK:gbd <br />19090.003.004106/28104 <br /> <br />75D-31 <br />