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5/24/07 LES <br />ORDINANCE NO. NS- <br />AN ORDINANCE OF THE CITY COUNCIL OF <br />THE CITY OF SANTA ANA AMENDING THE <br />MERGED REDEVELOPMENT PLANS TO <br />EXTEND CERTAIN TIME LIMITS AND MAKING <br />CERTAIN REQUIRED FINDINGS <br />THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, <br />determines and declares as follows: <br />A. As a result of Senate Bill 1096 (SB 1096) implementing the California <br />State Budget for fiscal year 2004-2005, the Community Redevelopment Agency <br />("Agency")was required to make a $3,330,894.37 payment to the County <br />Educational Revenue Augmentation Fund ("ERAF") by May 10, 2006. <br />B. The legislation also included a provision that allows the legislative body <br />to adopt an ordinance to amend the redevelopment plan extending the time limit <br />on 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. <br />C. For Redevelopment Plans with 10 to 20 years remaining, the <br />legislation requires that the legislative body find that the Agency is in compliance <br />with the major housing requirements. These include the requirement to deposit <br />20% of the gross tax increment into the housing set-aside fund, the adoption of a <br />housing implementation plan, compliance with housing replacement and <br />inclusionary obligations, and certification that no excess surplus exists. Plans <br />with 20 years or more remaining cannot be extended. <br />D. The City of Santa Ana has a merged redevelopment project area <br />consisting of Central City, Inter-City, North Harbor, South Harbor, South Main <br />and Bristol Corridor. <br />75B-3 <br />