Laserfiche WebLink
<br />E. As a part of this amendment proceeding, the Agency desires to <br />amend the Existing Plan ("Amendment") to merge the Project Area <br />with the Central City, Inter-City Commuter Station, North Harbor, <br />South Harbor, and South Main Redevelopment Projects ("Merged <br />Project Area") to allow the combining of tax increment revenues <br />from each and all of these constituent project areas so that taxes <br />attributable to each constituent project area which are allocated to <br />the Agency pursuant to CRL Section 33670(b) are allocated to the <br />entire Merged Project Area for the purpose of paying principal of, <br />and interest on, indebtedness incurred by the Agency to finance or <br />refinance, in whole or in part, the Merged Project Area; except that <br />any such taxes attributable to any constituent project area shall first <br />be used to pay indebtedness in compliance with the terms of any <br />bond resolution or other agreement pledging such taxes from the <br />constituent project area, which resolution or other agreement was <br />adopted or approved by the Agency prior to the merging of these <br />projects; and except as otherwise noted above, tax increment <br />revenue attributed to each constituent project may be used for any <br />lawful purpose in any constituent project now within the Merged <br />Project Area. <br /> <br />F. Further, the Amendment (as well as the concurrent amendments to <br />the other constituent project areas) creating the Merged Project <br />Area will best facilitate the revitalization of blighted areas through <br />economic vitality and increased and improved housing <br />opportunities pursuant to CRL Article 16, Section 33485, et. seq. <br /> <br />G. The City Council has received from the Agency the proposed <br />Amendment, a copy of which is on file at the office of the Clerk of <br />the Council, 20 Civic Center Plaza, Santa Ana, California, together <br />with the Agency's Report to the City Council on the Amendment, <br />including the reasons for the Amendment; proposed projects and <br />programs; the proposed method of financing the redevelopment of <br />the Merged Project Area which includes the Project Area; a method <br />and plan for relocation; the report of the Planning Commission of <br />the City with respect to the conformity of the Amendment with the <br />General Plan of the City of Santa Ana ("General Plan"); a <br />neighborhood impact report; a summary of consultations with <br /> <br />11 B-2 <br />