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<br />P.R. - 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 4 <br /> <br />Notice of this public hearing was mailed to the governing body of each <br />affected taxing entities on April 15, 2005, 30 days prior to the <br />proposed ordinance adoption on May 16, 2005, and published in the Orange <br />County Register on April 22, 2005, 10 days prior to the hearing. <br /> <br />FISCAL IMPACT <br /> <br />City/Agency approval of the appropriation adjustment and resolution will <br />enable staff to make the $3,401,346.78 payment to the County Auditor for <br />deposit into the ERAF on or before May 10, 2005. The amendment of these <br />plans will enable the Corrnnuni ty Redevelopment Agency to collect tax <br />increment for one addi tional year in the eligible proj ect areas. The <br />actual amount received will depend on the valuation of property within <br />the project area in any given fiscal year. <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />~~:7~.~r~~ <br /> <br />Executlve Dlrector <br /> <br />'=\ ~~;~ ~L ') fu~ ~ <br />Franci~co G~tierrez fl <br />Executlve Dlrector <br />Finance & Management Services Agency <br /> <br />PCW/NTE/mlr <br /> <br />H:\ACTIONS\2005 CCVT CC-CRA PymtERAF&OrdAmendMergedRedevPlanExtCertTimeLimts 5-2-05.doc <br /> <br />JT75C-4 <br />