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Mid-Term Review
<br />San Leandro Redevelopment Agency
<br />2004-2009 Implementation Plan
<br />Introduction
<br />The State of California requires that all redevelopment agencies hold a public hearing during the
<br />third year of the implementation plan period (2004-2009) for each redevelopment project area in
<br />order to review the projects and programs identified in the Implementation Plan. The aim of the
<br />State's legislation is to provide an opportunity to review the Implementation Plan in light of
<br />changed conditions. In conformance with California Health and Safety Code, this document
<br />updates the achievements of the City of San Leandro Redevelopment Agency (Agency) in the
<br />past two and a half years and reviews the goals and objectives of the Implementation Plan.
<br />Table 1 provides the 2004 estimates of projected tax increment and how the revenue is allocated
<br />for the three redevelopment project areas in the City of San Leandro. These projections are
<br />updated in Table Ia with current available information including actual tax increment received,
<br />fees paid, housing set aside received, debt service, ERAF payments and tax increment for fiscal
<br />years 2004-05, 2005-06 and 2006-07. Table la also includes revised projections for FY 2007-08
<br />and FY 2008-09.
<br />Table 1. San Leandro Redevelonment AQenev Prniecterl Tax Tncrement - 2f1f14 F.ctlmatec
<br />
<br />
<br />Fiscal Year
<br />Gross TaY
<br />Increment
<br />Fees & All
<br />Pass Thrus Housing
<br />Set Aside -
<br />City only
<br />ERAF
<br />Payment
<br />Debt
<br />Service County TI
<br />& Housing
<br />Set-Aside
<br />Net Tax
<br />Increment
<br />2004-OS 11,820,000 3,510,000 1,000,000 580,000 2,500,000 2,870,000 1,360,000
<br />2005-06 12,290,000 3,720,000 1,030,000 580,000 2,600,000 2,960,000 1,400,000
<br />2006-07 12,760,000 4,100,000 1,125,000 N/A 2,000,000 3,205,000 2,330,000
<br />2007-08 13,250,000 4,320,000 1,165,000 N/A 2,160,000 3,305,000 2,300,000
<br />2008-09 13,750,000 4,540,000 1,205,000 N/A 2,260,000 3,405,000 2,340,000
<br />TOTAL 9,73 0,000
<br />~~urcc. parr Leanaro xeaeveiopment t~gency; Urban Analytres
<br />Table la. San i,eandrn Redevelnnment Auencv Prniecterl Tax Tncrement- ~f1117 TTnrlatp
<br />
<br />
<br />Fiscal Year
<br />Gross Tax
<br />Increment
<br />Fees & All
<br />Pass Thrus Housing
<br />Set Aside -
<br />Ci only
<br />ERAF
<br />Pa ment
<br />Debt
<br />Service County TI
<br />& Housing
<br />Set Aside
<br />Available
<br />City TI
<br />2004-OS 14,269,383 4,262,440 1,737,912 893,684 2,467,236 3,327,916 I,S80,105
<br />2005-06 16,090,965 S,OOS,169 1,960,825 975,620 2,547,269 3,968,268 1,633,814
<br />2006-07 19,004,593 5,318,757 2,366,940 N/A 3,049,638 4,844,902 3,424,356
<br />2007-08 19, 898, 444 5, 619, 767 2, 416, 595 N/,4 Z, 579, 4.57 5, 367, 908 3, 914, 724
<br />2008-09 21,160, 350 6, 238, 064 2, 568, 656 N/A 2, 787, 765 5, 587, 634 3, 978,232
<br />TOTAL 14,531,230
<br />ouurce: pan Leanaro xeaeve~opment Agency; Urban Analyttcs. Nrgures m italics represent pro~ecttons
<br />As shown in these two tables, tax increment increased significantly over projections. Many
<br />factors such as private investment, the turnover of private property, a strong housing market and
<br />additional public infrastructure improvements, fueled this growth. Tax increment is projected to
<br />continue to grow steadily in the next two fiscal years.
<br />Mid-Term Review page I
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