Laserfiche WebLink
REQUEST FOR <br />AGENCY ACTION <br />AGENCY BOARD MEETING DATE: <br />JUNE 19, 2006 <br />TITLE: <br />RESOLUTION APPROVING FISCAL YEAR <br />2006 -2007 COMMUNITY REDEVELOPMENT <br />AGENCY BUDGET AND MAKE CERTAIN <br />FINDINGS WITH REGARD THERETO <br />'Ilp�ricczC`� <br />4 CUTIVE DIRECTOR <br />RECOMMENDED ACTION y,P �lo'pp& <br />AGENCY SECRETARY USE ONLY: <br />2vd ., Rlvarez <br />APPROVED '7'0 <br />®. As Recommended <br />❑ As Amended <br />❑ Ordinance on 1" Reading <br />❑ Ordinance on 2 n Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution approving the fiscal year 2006 -2007 budget of the <br />Community Redevelopment Agency as identified in the City of Santa Ana's <br />Annual Budget. <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION <br />Recommended that the Community Redevelopment Agency adopt a resolution <br />approving the fiscal year 2006 -2007 budget of the Community Redevelopment <br />Agency as identified in the City of Santa Ana's Annual Budget. <br />By a vote of 5:0 (Welty and Yanez absent) at its Special Meeting of June <br />15, 2006. <br />Lo? [44PS -1103 i <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 />2006 -2007 is $89,779,925. Of that amount, $41,691,435 (46.4 percent) is <br />property tax increment revenue from the merged redevelopment project <br />areas, and $27,781,480 (30.9 percent) is from the HUD Section 8 Voucher <br />program. The tax increment revenue of $41,691,435 is allocated to <br />support the programs and projects of the Community Redevelopment Agency, <br />including the payment of debt service and obligations totaling <br />$17,580,615 (42.2 percent), payment to the Low and Moderate - Income <br />Housing Fund totaling $11,175,710 (26.8 percent) pursuant to California <br />3.C. -9 <br />