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The Merged Project Areals net tax increment revenues are estimated at $30.1 million for FY
<br />2009--1(ret of County administrative fees, Set --Aside, and contractual and statutory pass
<br />through obligations). Over the five-year period, the Agency is projected to receive
<br />approximately $140.3 million in net tax increment revenues, the majority of which is obligated
<br />to repay debt. The revenues anticipated to be generated in the Merged Project Area over the
<br />next five years are identified in Table 4.
<br />Table 4: Anticipated Revenues FY 2011— EY 2015 )
<br />N40a','1-
<br />"�R
<br />het Tarrernert �1 010 01
<br />000
<br />Interest Earning r.;.t.;r;,; t' 1
<br />I r ♦ k r F� I F.
<br />f r r r I t�t,fF
<br />Carry -Over ver Funds for SERAF Sr
<br />J, P"
<br />r F t r r
<br />Tota[ Re �f"•'f'F��4,
<br />1lenues
<br />r'F'r FF{ Xf+r
<br />r+r�r rr�FFrr rF`+r r
<br />`f r�r r r r `r • rF
<br />/ t �'r�r� rrF r r`tlra
<br />I r r�FIIr{r {`F`r
<br />iF rFfi r A t
<br />r`rrY`' `rI+'FFIFI�IF••
<br />f�t� rrrrr�rr
<br />ff{rr r•FF•+Y�• F � r
<br />ExISTING OBLIGATIONS
<br />rr` r +r F Firs+y
<br />Aaencv Bond Debt Service
<br />•f�.F
<br />The Agency
<br />will continue to make
<br />principal and int .,F.+f .�+ nts on the Tax Allocation
<br />Refunding Bonds (Central City, Inter i. r�:. d South [�kb Project Areas) and the 2003 Tax
<br />Allocation Bonds(South [l ai n� re1'e t r : Mfr-` :F',i�r.e. -the �' years the amount f 1.989 bond
<br />.,...,,. fr rr
<br />debt service will total approximately 47 } it � ��: �n tine ar} j + t of 2003 bond debt service
<br />r 1F.rr�rrYt
<br />F r F F++ f f
<br />JX -j-_-
<br />will total approximately $21.;L.million. r` f�.-rr..`...,r'F`r,.+-++--++-++r++r`rr+r+ r + t f{{ff �,
<br />/ , +rr r • r # #s FYy�l FY*F Fyar sr{FF
<br />r+Frr � + r`rrr
<br />r r + ++F+r r+ r`Y fFi#FyYR+Fi Ft Rrr+Ya}�r�#F *r{+r•
<br />Transfers rn Credit
<br />err irr�/ }#arraFr+YrF
<br />rrr`/`/Fr� •4xr YkYF*r{
<br />Theapt Ani Fin�h"cr'Ji� i'+ u�tb r t ed .9 '{� F furcal[ Revenue Bonds, Series A. , ridi`FFtr r
<br />1
<br />/ rs�r' + ±s* Frr�rl� ilrtxFFf F!
<br />*�for tine purpose `r1 ir�g then Proceeds t `. t � r mase tine Ag r e is 19 9 T x A l ati r
<br />Fr r i'r r rrr�
<br />f r r
<br />FR+' rrrr Mrrff�y/ •F+ # rr RIFIr+ rx•� � �
<br />Refunding Bonds, der e� : Fa�a. "G:', �E re, r� .d�� ve. This enabled the Agency t realize e
<br />+ / * . / •`r Y{i*fi{F Ys+.rrFM . XRrxr tt . r R r'r Fr'
<br />F
<br />*I}FF•F�F +tYr'+r r r`%. rrrr +r`rr�i}}{•r#f*{fY*YI rr�tr} }Fr#i `Fr,`rF'
<br />savings -rr illion i 1 debt setri`tFerrrr`:`r"anr r
<br />nents by utilizing
<br />the leverage of pooling
<br />+'llfl*.x+r +r+FFF+r�r+F+++r •RR+' n t t Y##;*rfika#I�} •
<br />funds ds ` ;ire ed R } nds. Over the next five years, the Financing Authority bond
<br /># r
<br />}sF+F+a FFF+F+`r�F • *rFr r�a.irx'f * +r+++`YR`!# * i •
<br />deb �:F: i e will tot -" �.r i ri $41.5 million., providing the genre with a cumulative
<br />A # 4 f F F F+
<br />XIrFFI• YfYF+FRFrr �+s
<br />+x+
<br />savir `.Pppr imatel WHO:, Yerthe same period.
<br />'*r++f F`r`F., r+
<br />�IFF`r 'rY+
<br />1 r
<br />nrl
<br />YaY
<br />Suppleme"'Educational R enure AugmentationFuad(SERAFJ
<br />- 4l f�#lI�F• F+ 3• r• r• r• r•r�
<br />The lif rr ia---�.egis i re adapted Assembly Bill 26-4x to take X1.7 billion fr ren local
<br />Fra+FF+#+++r :F,,:�.r,:
<br />redevelo rrn int � r: � + �r � 9-1 and additional million in FY 2010-11, and shift the
<br />rrf-.
<br />tax increment fund r,f K6 SERAF to offset State deficits to K-12 schools. On May 10, 2010, the
<br />t;rr
<br />Agency paid the state $1.7,889,256, For FY 2010-11, the Agency's posurre is estimated to be
<br />$3,680,000.
<br />lawsuit filed with the Sacramento Superior Court by the California Redevelopment
<br />Association challenging the constitutionality of AR 26-4x was denied by the court, The FY 2009-
<br />10 SERAF payment was funded from a $3.,680,.000 borrowing of the FY 2009-10 Housing Set -
<br />2 To make tyle req u1red S ERAF paymeat to the state of Ca I ifo rn!a ire FY 2010-11, the Age n cy .intends to fund tide
<br />demarnd from anfld paced carry- ver fu Inds ava Iabie to the Merged Project Area.
<br />a n ta An a COMIII U ni ty Red evelopme) n t Agency milemt-ati on Pla n July 1, 2010 to June 30,, 2015
<br />For the K fid S,�-,Inta Ana RedevelopmentProject Arezi Page 34
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