090704 Jt PH Adotpion Amend Merger SA Redvlp Proj Areas EXHIBIT 2

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6. Property Assessment and Taxes The proposed Amendments will not cause the property taxes paid by owners to increase. In general, taxable valuations of property within and adjoining the proposed Merged Project Area should increase as development of that property occurs. New development within the proposed Merged Project Area will be assessed at market value, as determined by the assessor. Regardless of whether property is in the proposed Merged Project Area or not, the assessor may increase property valuations for existing properties at the maximum rate of two percent per year allowed under Proposition 13. In cases where property changes hands, the assessor will reassess the added value to property and improvements due to any new development or rehabilitation which occurs. B. RELOCATION AND LOW AND MODERATE INCOME HOUSING Housing Units to be Destroyed or Removed Implementation of the proposed Amendments will not directly include Agency acquisition of property within the proposed Merged Project Area as provided for by the Redevelopment Plans including the use of eminent domain. However, eminent domain authority still exists within the Project Areas, except for the Bristol Corridor Redevelopment Project Area and in August of 2004, in the South Harbor Redevelopment Project Area, and therefore the Agency over the life of these Redevelopment Plans could still acquire and remove low and moderate income housing units. At this time, the Agency does not have any specific plans for the acquisition of any uses and in particular low and moderate income housing by eminent domain. However, the Agency is currently acquiring and demolishing some housing units through voluntary sale, which will go towards implementing and eventually meeting its replacement_ho using _ obligations._ _ _ Page 62 of 190 Report to the City Council for the Merger of the Keyser Marston Associates, Inc. Santa Ana Redevelopment Projects Page 51 PA0403012.SNTA:CK:gbd 19090.003.004/06/26I04 5. School Population and Quality of Education Public education services within the proposed Merged Project Area are provided by the Santa Ana Unified School District, Orange Unified School District, Garden Grove Unified a School District, Tustin Unified School District, Rancho Santiago Community College District, Coast Community College District, South Orange County Community College District and the Orange County Department of Education. Approval of the proposed Amendments would not directly generate additional demands for school facilities /services over current levels of demand. Future redevelopment activities implemented within the proposed Merged Project Area, could generate additional demands for school facilities /services. However, through the City's development review process future redevelopment activities implemented within the proposed Merged Project Area would be evaluated to ensure that adequate school facilities are available. 6. Property Assessment and Taxes The proposed Amendments will not cause the property taxes paid by owners to increase. In general, taxable valuations of property within and adjoining the proposed Merged Project Area should increase as development of that property occurs. New development within the proposed Merged Project Area will be assessed at market value, as determined by the assessor. Regardless of whether property is in the proposed Merged Project Area or not, the assessor may increase property valuations for existing properties at the maximum rate of two percent per year allowed under Proposition 13. In cases where property changes hands, the assessor will reassess the added value to property and improvements due to any new development or rehabilitation which occurs. B. RELOCATION AND LOW AND MODERATE INCOME HOUSING Housing Units to be Destroyed or Removed Implementation of the proposed Amendments will not directly include Agency acquisition of property within the proposed Merged Project Area as provided for by the Redevelopment Plans including the use of eminent domain. However, eminent domain authority still exists within the Project Areas, except for the Bristol Corridor Redevelopment Project Area and in August of 2004, in the South Harbor Redevelopment Project Area, and therefore the Agency over the life of these Redevelopment Plans could still acquire and remove low and moderate income housing units. At this time, the Agency does not have any specific plans for the acquisition of any uses and in particular low and moderate income housing by eminent domain. However, the Agency is currently acquiring and demolishing some housing units through voluntary sale, which will go towards implementing and eventually meeting its replacement_ho using _ obligations._ _ _ Page 62 of 190 Report to the City Council for the Merger of the Keyser Marston Associates, Inc. Santa Ana Redevelopment Projects Page 51 PA0403012.SNTA:CK:gbd 19090.003.004/06/26I04