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<br />60 <br />000 5-Year Implementation Plan - Tax Increment <br />- A!lOS?tion <br /> , <br />50,000 z ; a . -.... <br /> _ L <br />. <br />O <br />40 <br />000 <br />? <br />` <br /> , - <br />- .? -- <br />0 <br />0 <br /> 30,000 - - <br />E <br /> <br />c <br />F 20,000 - <br /> <br /> 10,000 - -- <br /> 0 ------ ... ...... - <br /> 2010-11 2011-12 2012-13 2013-14 2014-15 <br /> Fiscal Year i Housing Set Aside <br /> ¦ Paid to Taxing Entities <br />Redevelopment law requires 20 percent of the gross tax increment, which is referred to as Set- <br />Aside, to be spent on affordable housing. However, as a result of a settlement agreement in <br />the South Main Project Area (Peebler settlement), the Agency sets aside a larger percentage of <br />the gross tax increment; this amounts to $69.7 million set aside for low and moderate income <br />housing, plus $12.1 million from the Peebler settlement, out of the $268.4 million gross tax <br />increment projected over the next five years. <br />Under the terms of a 1982 settlement resulting from litigation entitled Gerald Peebler, et.al. vs. <br />City of Santa Ana, OCSC No. 38-58-59, the Agency agreed to annually set aside 20% of non- <br />housing tax increments generated by the South Main Project Area, to be dedicated to the <br />improvement and support of the commercial areas within the corridor along Main Street <br />between First and Warner and the south side of First Street between Parton and Standard. Such <br />improvements may include various public improvements, public parking funding and other <br />commercial financial incentives. The annual set aside is deposited into what is referred to as the <br />South Main 20% Commercial Corridor Fund. <br />Santa Ana Community Redevelopment Agei is do P n July 1, 2010 to June 30, 2015 <br />For the Merged Santa Ana Redevelopment Fr?? Paga 33