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Resolutions Pursuant to ABX1 26 & ABX1 27 <br />August 24, 2011 <br />Page 3 <br />It is estimated that the Agency stands to receive approximately $728.22 million ($294.41 million net <br />present value) in net tax increment revenues over the remaining life of the merged project area by <br />participating in the voluntary continuation program. Given that Santa Ana's redevelopment efforts <br />significantly contribute to much - needed economic and physical community revitalization, affordable <br />housing development, and the general enhancement of our city, it is recommended that the <br />Agency continue to take the necessary steps to implement ABX1 27. The tentative schedule for <br />the other required components of ABX1 27 include: September 6, 2011 for the first reading of the <br />Continuation Ordinance; and September 19, 2011 for the second reading of the ordinance. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Sandi Gottlieb <br />Redevelopment Project Manager <br />Community Development Agency <br />NTE /SG /mlr <br />Exhibits: 1. Council Resolution of Intent to Enact an Ordinance <br />2. CRA Resolution Establishing an Initial EOPS <br />�;117Ma <br />