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South Main Redevelopment Project <br />The South Main Redevelopment Project was adopted on July 6, 1982 by Ordinance No, <br />NS -1639. On October 3, 1994, in accordance with AB 1290, the South Main <br />Redevelopment Plan was amended by Ordinance No. NS -2234 to establish certain time <br />limits including a time limit on incurring debt of January 1, 2004; a time limit on plan <br />effectiveness of July 6, 2012; and a limit on receipt of tax increment/repayment of debt of <br />July 6, 2022. On July 17,1995, the redevelopment plan was amended a second time by <br />Ordinance No. NS -2256 to increase the tax increment ($2,000,000,000) and bond debt <br />($600,000,000) limits, establish eminent domain authority for 12 years (July 17, 2007), <br />and add projects to the redevelopment plans capital improvements list. The third <br />amendment adopted on August 2, 1999 by Ordinance No. NS -2396 extended the time <br />limit on plan effectiveness by 10 years to July 6, 2022, and the limit on receipt of tax by <br />10 years to July 6, 2032 to coincide with the maximum time limits prescribed by AB 1290 <br />as amended by a summary ordinance in accordance with AB 1342. The fourth <br />amendment adopted on January 20, 2004 by Ordinance No. NS -2641 extended the time <br />limit to incur debt to coincide with the plan effectiveness limit of July 6, 2022. The <br />proposed Merger will be the fifth amendment to the South Main Redevelopment Plan. <br />Bristol Corridor Redevelopment Plan <br />The Bristol Corridor Redevelopment Project was adopted on December 4, 1989 by <br />Ordinance No. NS -2039. The Bristol Corridor Redevelopment Plan was amended on <br />October 3, 1994, by Ordinance No. NS -2231 to exempt certain properties from eminent <br />domain. On October 3, 1994, in accordance with AB 1290, the plan was amended a <br />second time by Ordinance No. NS -2234 to establish certain time limits including a time <br />limit on incurring debt of December 4, 2009; a time limit on plan effectiveness of <br />December 4, 2024 and limit on receipt of tax increment /repayment of debt of December <br />4, 2034. On August 2, 1999, the third amendment adopted by Ordinance No. NS -2396 <br />extended the time limit on plan effectiveness by 5 years to December 4, 2029 and the <br />limit on receipt of tax by 5 years to December 4, 2039 to coincide with the maximum time <br />limits prescribed by AB 1290 as amended by a summary ordinance in accordance with <br />AB 1342. The proposed Merger will be the fourth amendment to the Bristol Corridor <br />Redevelopment Plan. <br />Preliminary Report for the Merger of the EXHIBIT L Keyser Marston Associates, Inc. <br />Santa Ana Redevelopment Projects Page 7 <br />PA0402006.SNTA:CK:gbtl ry �✓ <br />19090.003.00310D27/04 •/ R05 <br />