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<br />P.H. - Payment to ERAF and <br />An Ordinance Amending the Merged <br />Redevelopoment Plan to Extend Certain <br />Time Limits <br />May 2, 2005 <br />Page 3 <br /> <br />made by the Community Redevelopment Agency before May 10, 2005. SB 1096 <br />also included a provision that allows the legislative body to adopt an <br />ordinance to amend the redevelopment plan extending the time limit on <br />the use of tax increment to repay indebtedness and extend the plan <br />effectiveness by one year for a redevelopment agency making an ERAF <br />payment. For Redevelopment plans with 10 to 20 years remaining, the <br />legislation requires that the legislative body finds that the Agency is <br />in compliance wi th the maj or housing requirements. These include the <br />requirement to deposit 20 percent of the gross tax increment into the <br />housing set-aside fund, the adoption of a housing implementation plan, <br />compliance with housing replacement and inclusionary obligations, and <br />certification that no excess surplus exists. Redevelopment plans with <br />20 years or more remaining cannot be extended. <br /> <br />The City of Santa Ana has a merged redevelopment project area consisting <br />of Central City, Inter-City, North Harbor, South Harbor, South Main and <br />Bristol Corridor. The following time limits are proposed for amendment: <br /> <br /> TIME LIMIT ON TIME LIMIT ON TIME LIMIT ON TIME LIMIT ON <br />PLAN PLAN PLAN RECE:IPT OF RECE:IPT OF <br /> EFFECTIVENESS EFFECTIVENESS TAX INCREMENT TAX :INCREMENT <br /> ( CURRENT (PROPOSED ( CURRENT (PROPOSED <br /> DATE) DATE) DATE) DATE) <br />Central City July 2 , 2014 July 2, 2015 July 2, 2024 July 2, 2025 <br />Inter-City July 6, 2023 July 6, 2024 July 6, 2033 July 6, 2034 <br />North Harbor July 6, 2023 July 6, 2024 July 6, 2033 July 6, 2034 <br />South Harbor July 6, 2023 July 6, 2024 July 6, 2033 July 6, 2034 <br />South Main July 6, 2023 July 6, 2024 July 6, 2033 July 6, 2034 <br />*Bristol December 4, December 4, December 4, December 4, <br /> 2030 2030 2040 2040 <br /> <br />*Not eligible for one year extension under SB1096. <br /> <br />JT75C-3 <br />