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committed to paying obligations ant, existing bond debt, the proceeds of which have been <br />expended on projects that have been completed or are committed to projects previously <br />approved by the Agency or City Council. The Agency will be focusing most of its efforts in the <br />next five years on meeting its affordable housing obligations. However, some discretionary <br />revenue is projected to be available or if projected tax increment is greater than anticipated. <br />Therefore, the Agency has identified four programs which the Agency hopes to implement, <br />possibly in conjunction with other City programs and funds. The programs are as follows: <br />¦ Economic/Community Development Program <br />¦ Public Facility Development Program <br />¦ Infrastructure Improvement Program <br />¦ Affordable Housing Program <br />These programs can address the community's priorities for the betterment of Santa Ana and <br />address blighting conditions within the Merged Project Area. However, it must be stressed that <br />given the limited redevelopment revenues and existing obligations, many of the community's <br />priorities may not be addressed during the next five-year period and those projects and <br />programs that are implemented may be funded with revenues other than redevelopment tax <br />increment. <br />The programs and projects that follow are designed to address the most significant blighting <br />conditions in the Merged Project Area, and provide additional housing opportunities. Typically, <br />when the most significant blighting conditions are reduced, private sector investment will occur <br />leading to additional removal of blight. The Agency's redevelopment programs will therefore <br />serve as a catalyst to remove blighting conditions and spur private investment and the <br />preservation, improvement, creation and maintenance of affordable housing. <br />Projects and programs are often initiated in response to stakeholders, including developer and <br />owner requests. The Agency also proactively plans for blight elimination, which may involve <br />soliciting proposals for specific development sites. When the Agency participates in a project, <br />the Agency and developer/owner enter into either a Disposition and Development Agreement <br />or Owner Participation Agreement to assure that the project is implemented in accordance <br />with the agreed upon plan, and that the Agency's goals and objectives for blight elimination are <br />attained. In some instances, such as affordable housing, the agreements specify the <br />affordability restrictions to be placed on the affordable units. <br />The following describes the projects currently associated with each of these four programs that <br />are anticipated to be carried out during this Implementation Plan period. <br />Economic/Community Development Program <br />The Economic/Community Development program will consist of the Agency enhancing the <br />Merged Project Area by assisting in the commercial and industrial rehabilitation/development <br />through business retention/attraction, rehabilitation loans, tax allocation bond financing and <br />site assemblage. The Agency's efforts in this program will provide new and expanded <br />.na Community Redevelopment Agency Imq?ry,? tir?P6n J.. 010 to June 30, 2015 <br />Merged Santa Ana Redevelopment Project - page 25