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REDEVELOPMENT PROJECTS AREAS MERGER <br />INITIAL STUDY /NEGATIVE DECLARATION ER 2004 -34 <br />PROPOSED PROJECT <br />The proposed project involves amendments to existing <br />redevelopment plans to merge (the "Merger ") the Central <br />City, Inter -City Commuter Station, North Harbor, South <br />Harbor, South Main and Bristol Corridor Redevelopment <br />Project Areas (the "Merged Project Area "). <br />BACKGROUND <br />Section 33485 et seq. of the Community Redevelopment Law <br />(CRL) allows for the merger of redevelopment project areas <br />as a matter of public policy if they would result in <br />substantial benefit to the public, and if they contribute <br />to the revitalization of blighted areas through the <br />increased economic vitality of such areas and through <br />increased and improved housing opportunities in or near <br />such areas. The CRL also provides that redevelopment <br />project areas, under the jurisdiction of a redevelopment <br />agency, may be merged without regard to contiguity of the <br />areas, by an amendment of each affected redevelopment plan. <br />Further, with certain exceptions, taxes attributed to each <br />project area merged that are allocated to the redevelopment <br />agency may be allocated to the entire merged project area t <br />for the purpose of paying the principal of, and interest <br />on, indebtedness incurred by the redevelopment agency to <br />finance or refinance, in whole or in part, the merged <br />redevelopment project. <br />SETTING <br />Presently, there are six Redevelopment Project Areas within <br />the City of Santa Ana. Exhibit 1 depicts the Redevelopment <br />Project Areas the City is proposing to merge. <br />The Central City Redevelopment Project Area consists of 964 <br />acres and is located in the central and northern parts of <br />the City. The Central City Redevelopment Project Area was <br />-� adopted by, the City on July 2, 1973. The Central City <br />Project Area encompasses the historic downtown area <br />including retail, office and government uses. The proposed <br />Merger would be the Sixth Amendment to the Central City <br />Redevelopment Project. <br />Page 145 of 190 <br />1 <br />