|
West San Leandro-MacArthur Boulevard Project Area
<br />Introduction
<br />This project area was formed in 1999 to link the City's industrial area west of I-880 with
<br />MacArthur Boulevard, a neighborhood business district struggling with high vacancies, traffic,
<br />and minimal owner investment. As stated in the original Redevelopment Plan for the West San
<br />Leandro-MacArthur Boulevard Project Area (WSLPA), the goal of the Project continues to be:
<br />Eliminate Project Area blight through a program of business retention, expansion, and
<br />attraction that builds on the area's strengths and diversifies the City's economic base.
<br />Program Funding
<br />Table 6 provides the 2004 estimates of projected tax increment for the WSLPA for 2004-2009.
<br />It also shows what portion of these funds was anticipated to be allocated to the Affordable
<br />Housing Program and what portion was projected to be committed to outstanding debt
<br />obligations. For purposes of comparison, Table 6a contains the actual tax increment numbers
<br />through FY 2006-07 and the revised projections for FY 2007-08 and FY 2008-09.
<br />Table (_ West San Leandro-MacArthur Protected Tax Increment-2004 Protection
<br />
<br />Fiscal
<br />Year
<br />Gross Tax
<br />Increment
<br />Housing Set-
<br />Aside County
<br />Admin.
<br />Fee
<br />Pass-Through
<br />Pa ments
<br />ERAF
<br />Payment
<br />2004 TABS
<br />Debt Service
<br />Available Tax
<br />Increment
<br />2004/05 1,660,000 330,000 20,000 330,000 100,000 220,000 660,000
<br />2005/06 1,780,000 360,000 20,000 350,000 100,000 310,000 640,000
<br />2006;"07 1,910,000 380,000 20,000 380.000 310,000 820,000
<br />2007/08 2,040,000 410,000 30,000 410,000 310,000 880,000
<br />2008109 2,180,000 440,000 30,000 430,000 400,000 880,000
<br />Source: San Leandro Kedevelopment Agency; Urban Analytics.
<br />Table (,a_ Weat San T,eandrn-MacArthur Tax Tncrement - 2007 UUdate
<br />
<br />Fiscal
<br />Year
<br />Gross Tax
<br />Increment
<br />Housing Set-
<br />Aside County
<br />Admin.
<br />Fee
<br />Pass-Through
<br />Payments
<br />ERAF
<br />Payment
<br />2004 TABs
<br />Debt Service
<br />Available Tax
<br />Increment
<br />2004/05 1,841,333 368,267 21,507 303,381 166,805 218,783 762,590
<br />2005/06 2,098,265 420,890 20,273 352,543 133,619 304,740 866,200
<br />2006/07 3,141,530 628,306 18,070 527,537 N/A 308,578 1,659,407
<br />2007/08 2, 981, 725 596, 345 Z0, 273 596, 360 N/A 304, 740 I , 464, 007
<br />2008/09 3, 361, 9! 6 672, 382 24,133 672, 374 N/A 397, 033 1, 595, 995
<br />Source: San Leandro Kedevelopment Agency; Urban Analytics. r figures m rtaucs represent pro~ecuons
<br />Mid-Term Review Page 10
<br />
|