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<br />Resolution Authorizing a <br />Neighborhood Market Analysis <br />by Social Compact <br />June 20, 2005 <br />Page 2 <br /> <br />fundamental strengths, misrepresented, underserved; b) key leadership; <br />and c) active business community. <br /> <br />The proposed study areas, Exhibits 1 and 2, encompass large portions of <br />the Empowerment Zone and the Downtown. Information sets available <br />through state and local government are necessary to proceed with the <br />Drilldown. Staff will assist in obtaining these information sets which <br />include tax assessment data, building permit information, crime data, <br />vehicle registration, land use, school data, utility data, financial <br />institution information and commercial business license records. As was <br />the case in other cities, the findings from the Drilldown are anticipated <br />to be of great value in supporting initiatives to improve economic <br />opportunities in Santa Ana. <br /> <br />Social Compact is a non-profit corporation that is led by business <br />leaders from across the country and promotes successful business <br />investment in inner city and rural communities. This leadership includes <br />the Federal Home Loan Bank of San Francisco, Fannie Mae, First American <br />Financial, State Farm, Neighborhood Reinvestment, Affinity Bank, the <br />Principal Financial Group, Washington Mutual and former Governors of the <br />U.S. Federal Reserve Bank. <br /> <br />The Drilldown analysis is estimated to cost $225,000 and national <br />financial institutions partnering wi th the Social Compact Board, along <br />wi th local sponsorships from Neighborhood Housing Services of Orange <br />County, First American Financial, Santa Ana Federal Empowerment Zone and <br />Fremont Investment are anticipated to fully fund the study, without a <br />financial contribution from the City of Santa Ana. <br /> <br />FISCAL IMPACT <br /> <br />There is no fiscal impact associated with this action. <br /> <br />lvt patric~a <br />U Executl v <br />Community <br /> <br /> <br />fttwa-u0 <br /> <br />Whitaker <br />Director <br />Development Agency <br /> <br />PCW/SK/mlr <br /> <br />H:\ACTIONS\200S CC\ResoAuthNeighborhoodMktAnalysisSoccompact <br /> <br />6-20-0S.doc <br /> <br />550-2 <br />