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REQUEST FOR <br />AGENCY ACTION E° "ni9r <br />AGENCY BOARD MEETING DATE: <br />JUNE 21, 2004 <br />TITLE: <br />RESOLUTION APPROVING FISCAL YEAR <br />2004 -2005 COMMUNITY REDEVELOPMENT <br />AGENCY BUDGET <br />zzp� - <br />Cz EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />AGENCY SECRETARY USE ONLY: <br />APPROVED <br />❑ <br />As Recommended <br />❑ <br />As Amended <br />❑ <br />Ordinance on 151 Reading <br />❑ <br />Ordinance on 2nd Reading <br />❑ <br />Implementing Resolution <br />❑ <br />Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt Resolution No. CRA 2004 -08 approving the fiscal year 2004 -2005 <br />budget of the Community Redevelopment Agency as identified in the City of <br />Santa Ana's Annual Budget. <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION <br />Recommended that the Community Redevelopment Agency adopt a resolution <br />approving the fiscal year 2004 -2005 budget of the Community Redevelopment <br />Agency as identified in the City of Santa Ana's Annual Budget. <br />By a vote of 7:0 at its Regular Meeting of June 15, 2004. <br />Consistent with California Redevelopment Law, the annual funding plan for <br />the Community Redevelopment Agency must be approved by resolution of the <br />Agency. <br />The proposed budget for the Community Development Agency for fiscal year <br />2004 -2005 is $86,354,785. Of that amount, $38,994,170 (45.1 percent) is <br />property tax increment revenue from the six redevelopment project areas, <br />and $26,949,610 (31.2 percent) is from the HUD Section 8 Voucher program. <br />The tax increment revenue of $38,994,170 is allocated to support the <br />programs and projects of the Community Redevelopment Agency, including <br />the payment of debt service and obligations totaling $16,704,255 (42.8 <br />1 Al <br />