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REQUEST FOR <br />AGENCY ACTION <br />AGENCY BOARD MEETING DATE: <br />JUNE 2, 2008 <br />TITLE: <br />RESOLUTION APPROVING FISCAL YEAR <br />2008 -2009 COMMUNITY REDEVELOPMENT <br />AGENCY BUDGET <br />zpfXE TIVE DIRECTOR <br />RECOMMENDED ACTION 2��3 <br />AGENCY SECRETARY USE ONLY: <br />izef4:ari' <br />APPROVED Q "� <br />© As Recommended WO <br />❑ As Amended <br />❑ Ordinance on 1" Reading <br />❑ Ordinance on 2ntl Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution approving the fiscal year 2008 -2009 budget of the <br />Community Redevelopment Agency as identified in the City of Santa Ana's <br />Annual Budget. <br />DISCUSSION <br />Consistent with California Redevelopment Law, the annual funding plan and <br />certain findings for the Community Redevelopment Agency must be approved <br />by resolution of the Agency. <br />The proposed budget for the Community Redevelopment Agency from property <br />tax increment prior year balance and revenues for fiscal year 2008 -2009 <br />is $62,432,655. The tax increment revenue is allocated to support the <br />programs and projects of the Community Redevelopment Agency, including <br />the payment of debt service and obligations totaling $23,621,200 (37.9 <br />percent), payment to the Low and Moderate - Income Housing Fund totaling <br />$15,100,105 (24.2 percent) pursuant to California Redevelopment Law, <br />payment of pass- through obligations to other taxing districts totaling <br />$11,004,085 (17.6 percent), management and administration of the merged <br />redevelopment project areas totaling $5,625,615 (9.0 percent), and the <br />funding of eligible capital projects totaling $7,081,650 (11.3 percent). <br />4 -7 <br />