031504 RESO Prelim Rprt Rec-File Plan Amend Merger SA Redvlp Proj

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North Harbor Redevelopment Project The North Harbor Redevelopment Project was adopted on July 6, 1982 by Ordinance No. NS -1637. On October 3, 1994, in accordance with AB 1290, the North Harbor Redevelopment Plan was first amended by Ordinance No. NS -2234 to establish certain time limits including a time limit on incurring debt of January 1, 2004; a time limit on plan effectiveness of July 6, 2012 and limit on receipt of tax increment /repayment of debt of July 6, 2022. The second amendment adopted on May 6, 1996 by Ordinance No. NS- 2291 extended the Agency's eminent domain authority within the project area by 12 years until May 6, 2008. On August 2, 1999, the third amendment adopted by Ordinance No. NS -2396 extended the time limit on plan effectiveness by 10 years to July 6, 2022, and the limit on receipt of tax by 10 years to July 6, 2032 to coincide with the maximum time limits prescribed by AB 1290 as amended by a summary ordinance in accordance with AB 1342. The fourth amendment adopted on January 20, 2004 by Ordinance No. NS -2641 extended the time limit to incur debt to coincide with the plan effectiveness date of July 6, 2022. The proposed Merger will be the fifth amendment to the North Harbor Redevelopment Plan. South Harbor Redevelopment Project The South Harbor Redevelopment Project was adopted on July 6, 1982 by Ordinance No. NS -1638. On August 3, 1992, by Ordinance No. NS -2167, the South Harbor Redevelopment Plan was amended to: 1) extend the Agency's eminent domain authority within the project area by 12 years until August 3, 2004; 2) modify certain land use provisions; 3) increase the tax increment limit to $2,600,000,000; 4) increase the bonded indebtedness limit to $1,000,000,000; 5) increase the time limit to incur debt from 25 to 30 years until August 3, 2022; and 6) increase the plan effectiveness of the South Harbor Redevelopment Plan from 30 to 40 years until August 3, 2032. On October 3, 1994, the plan was amended a second time by Ordinance No. NS -2234 to reduce certain time limits in accordance with AB 1290, including the time limit on incurring debt (January 1, 2004), the time limit on plan effectiveness (July 6, 2012), and the time limit on receipt of tax increment /repayment of debt (July 6, 2022). On August 2, 1999, the third amendment adopted by Ordinance No. NS -2396 extended the time limit on plan effectiveness by 10 years to July 6, 2022, and the limit on receipt of tax increment by 10 years to July 6, 2032 to coincide with the maximum time limits prescribed by AB 1290 as amended by a summary ordinance in accordance with AB 1342. The fourth amendment adopted on January 20, 2004, by Ordinance No. NS -2641 extended the time limit for incurring debt to coincide with the plan effectiveness limit of July 6, 2022. The proposed Merger will be the fifth amendment to the South Harbor Redevelopment Plan. Preliminary Report for the Merger of the Santa Ana Redevelopment Projects PA0402000.5 NTA:CK:gbd 19090.003D03/02127/04 74 Keyser Marston Associates, Inc. Page 6