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<br />From: Executive Director-Secretary <br /> <br /> <br />EXHIBIT <br /> <br />A <br /> <br />. MEMORANDUM <br />. '. cI'rY OF SANTA ANA COMMUNITY <br />To: REDEVELOPMENT AGENCY <br /> <br />Date <br /> <br />September 20, 1973 <br /> <br />Subject: <br /> <br />PROPOSED BUDGET FOR 1973-74 <br /> <br />In keeping with the by-laws of the Santa Ana Community Redevelopment <br />Agency and the provisions contained in the Health and Safety Code <br />Section 33000, I transmit to you, with pleasure, and satisfaction, this <br />proposed budget for the fiscal year 1973-74. The budget has been <br />reviewed and recommended for approval by the Community Redevelopment <br />Commission and the Project Area Committee. <br /> <br />. <br /> <br />HIGHLIGHl'S <br /> <br />The grand total for the Community Redevelopment Program is $60,700. This <br />is an increase of $40,700 over the 1972-73 Community Redevelopment Budget. <br />It should be noted that the 1972-73 Budget was for only six months of <br />program activity. <br /> <br />This proposed budget provides for professional and clerical staff assist- <br />ance via City Manager's Office, other City Departments, contract under IPA, <br />contract with State of C~lifornia Housing and Community Development <br />and consultants to be selected in the areas of planning, engineering <br />and economic feasibility. <br /> <br />It is proposed that all the planning and relocation formulation programs <br />will be conducted in a manner to insure full opportunity for all <br />interested citizens and taxpayers to provide meaningful input. <br /> <br />REVENUES <br /> <br />Revenues for 1973-74 budget will be obtained by a loan from the City of <br />Santa Ana General Fund at an interest rate of 7% per annum. During the <br />1973-74 fiscal year, the Community Redevelopment Agency will not receive <br />any tax increment funds. At the end of calendar year 1974, the Agency <br />will receive tax increment funds (the amount has not been determined at <br />this time). <br /> <br />OUTLOOK FOR THE FUTURE <br /> <br />Building activity by both private enterprise and public agencies <br />will continue at a rapid rate for the next ten years. The quality <br />and character of the development will depend a great deal upon the <br />type of plans that are formulated and implemented by the Community <br /> <br />8, <br /> <br />ß <br />c f..f <br />