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Revenues <br />At the time a Redevelopment Plan is adopted for a project area, the taxes generated from <br />taxable value of property in the area (often referred to as the base year value) continue to be <br />distributed to each of the taxing entities, which levy a property tax in the Merged Project Area. <br />The property taxes that occur due to growth in taxable value above the base year value are <br />allocated to the redevelopment agency. This amount is commonly referred to as tax increment <br />revenues. <br />The Merged Project Area's revenues are estimated at $30.4 million for FY 2005 -06. This <br />revenue is based upon the projected net tax increment (minus housing set - aside, existing pass - <br />through agreements, and County administration fee) and other loans the Agency will receive <br />during the five -year period between 2005 -06 to 2009 -10. As pro ted annual tax increment <br />revenues increase, there should be a diminishing reliance o gen borrowing from other loan <br />sources such as the City General Fund or the Agel <br />year period, the Agency will receive approximately <br />housing set -aside funds), the majority of which i c <br />requires 20 percent of the gross tax increment to <br />a result of settlement agreements, the A <br />increment; this amounts to $63.6 million <br />next five years. The <br />next five years are is <br />1. <br />In total, over the five - <br />ues (not including <br />I. Redevelopment law <br />IS using. However, as <br />a of the gross tax <br />i n gross takbaorement over the <br />nin a Merged Project Area over the <br />1 1: Antic e e enues2005 -2010 <br />(Ft c Ye 200 th ugh 2009 -10) <br />Net Tax Increm nt $1 710,000 <br />Loan from Housin Fu d ( 3,401,000 Does not reflect existing <br />Other Loans 2 10,343,000 obligations or housing set - <br />Miscellaneous Raven 3 64,000 aside <br />$139,518,000 <br />2 Assumes that short-term loans can be advanced to the Agency, as necessary, to meet any future year <br />deficits. The loans are assumed to be funded from other Agency financing sources. Loan principal and <br />interest (assumed at 6 %) to be pad, on a pay -as- you-go basis, within the subsequent fiscal years. <br />a Loan repayments anticipated in the Central City, South Harbor and South Main Project Areas. <br />Santa Ana Community Redevelopment Agency Implementation Plan Keyser Marston Associates, Inc. <br />For the Merged Santa Ana Redevelopment Project Area July 1, 2005 to June 30, 2010 <br />Page 17 <br />0504021.SA <br />1902 D.004,001/4/22/2005 <br />