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<br />:1 <br /> <br /> <br />5 <br />8 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />123 <br />24 <br />25 <br />28 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />.44 <br />45 <br />48 <br />47 <br />48 <br />49 <br />50 <br />51 <br />52 <br />53 <br />54 <br />55 <br />86 <br />57 <br />58 <br />59 <br />60 <br />61 <br />62 <br />63 <br /> <br />.= <br /> <br />66 <br />67 <br />68 <br />69 <br />70 <br />71 <br />72 <br />73 <br />74 <br />7" <br /> <br />Prool of Fobrua'J 21, 1978 <br /> <br />SANTA ANA-7923 <br /> <br />Bowne of San Francisco, Inc., 981-7882 <br /> <br />GALLEY 3]- <br /> <br />Project Expenditure Program <br />Net proceeds from the sale of the 1978 Bonds <br />currently offered will be used to acquire and clear <br />land for resale for private development, construct <br />public improvements, project administration, repay <br />city advances to the Project and pay relocation costs. <br />Table 3 below summarizes Agency estimates of <br />expenditures of net 1978 Bond proceeds, <br /> <br />Tabfe 3 <br /> <br />CITY OF SANTA ANA <br />RED~VELOPMENT PROJECT AREA <br /> <br />Estimated Bond Expenditures <br /> <br />Property acquisilion for redevelopmenl <br />Reloèalion ...................... <br />Site clearance """"""""'" <br />Public improvements """""'" <br />Projeci administration and repayment <br />of cily advances.. .. .. .. .. .. .. , <br /> <br />1978 Bond proceeds (nel) "",'. <br /> <br />$ 6,252,150 <br />710,000 <br />322,500 <br />3,077,350 <br /> <br />1.200,000 <br />$ll,562,OOO <br /> <br />The following paragraphs outline the current de- <br />velopmenl program in the Projecl, The Agency antici- <br />pates using the 1978 Bond proceeds (as summarized <br />in Table 3) in connection wilh the development pro- <br />gram and any fulure development that may occur <br />in the Project. <br />Santa Ana Plaza. A 75,000 square foot office <br />commercial complex to be developed by the Fore- <br />strong Development Corporation of San Francisco, <br />this development, with an eslimated market value of <br />$5 million, will be located in the civic cenler area <br />between Santa Ana Boulevard, Birch and Fifth <br />Streets. Construction is anticipaled to begin in 1979 <br />wilh completion by mid-198O. Acqnisition of prop- <br />erty for this project has already begun by the Agency <br />using exisling lax incremenl funds. <br />Sunset. A commercial office complex by M, <br />David Paul Inc, is located at Civic Cenler Drive and <br />Broadway, It will comprise a 45,000 square-fool <br />commercial building and an 85,000 square-foot, <br />seven-story office building, The commercial build- <br />ing, valued at an estimated $2,25 million, is anlici- <br />pated to be compleled by mid-198O. At thai time, <br />construction would begin on the office bnilding, <br />estimated at $4.25 million, and be compleled by <br />mid-1982. <br />Second Street Revival. Through Bissell and Au- <br />gust, consulting architects and planners, the Agency <br />has analyzed the feasibility of rehabilitation for a <br />study area between Fourth and Second Streets, Van <br />Ness Avenue to Main Street in the downtown Project <br />area, This project concentrates on the Second Street <br />area between Broadway and Sycamore Street, First <br />