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Plaza Project Area
<br />Introduction
<br />The Plaza Project Area (Plaza) is the oldest redevelopment project area in San Leandro. As
<br />stated in the original Redevelopment Plans for the Plaza I and Plaza II Redevelopment Project
<br />Areas, prior to their merger in 2000, the goal of the Project is to:
<br />Eliminate or reduce blight and bli;hted conditions presently existing in the ProjectArea.
<br />As a response to the State of California's 2004 budget crisis, SB 1096 required all redevelopment
<br />agencies to make an ERAF payment in the 2004-OS and 2005-06 fiscal years. In return, SB 1096
<br />allowed agencies with redevelopment plans with twenty years or less remaining to amend the
<br />plans to extend the time limits by up to two years, if the Redevelopment Agency is otherwise in
<br />compliance with state redevelopment guidelines. The Plaza met those guidelines and on July 5,
<br />2005 the time limits were extended throughout the Plaza, with the exception of Plaza II-Area 5,
<br />the most recently adopted sub-area, which had more than twenty years remaining and therefore
<br />did not qualify.
<br />Program Funding
<br />Table 2 provides the 2004 tax increment estimates which were included in the 2004-2009
<br />Implementation Plan. Table 2a contains the actual revenue numbers through FY 2006-07 and
<br />the revised projections for FY 2007-08 and FY 2008-09.
<br />Table 2. Plaza Tax Tncrement-2(1(1.1 F,stlmatvc
<br />Fiscal
<br />Year Gross Tax
<br />Increment County
<br />Admin Fee Housing
<br />Set-Aside Pass Thru
<br />Payments ERAF
<br />Payment General
<br />Fund Loan TABS
<br />Debt Svc Available Tax
<br />Tncrement
<br />2004-05 2,410,000 30,000 480,000 130,000 270,000 160,000 1,170,000 170,000
<br />2005-06 2,460,000 30,000 480,000 150,000 270,000 160,000 1,180,000 190,000
<br />2006-07 2,500,000 30,000 490,000 160,000 160,000 1,180,000 480,000
<br />2007-08 2,550,000 30,000 500,000 170,000 160,000 1,340,000 350,000
<br />2008-09 2,590,000 30,000 510,000 190,000 160,000 1,350,000 350,000
<br />.,~u~~~. ~,uy vi tau ~,caiiwu ncucva~~u~cui t~gcucy, v[oaii ruiaryucs.
<br />Table 2a. Plaza Tax Tncrement-2(17 TTnr)ate
<br />Fiscal
<br />Year Gross Tax
<br />Increment County
<br />Admin Fee Housing
<br />Set-Aside Pass Thru
<br />Payments ERAF
<br />Payment General
<br />Fund Loan TABS
<br />Debt Svc Available Tax
<br />Increment
<br />2004-OS 2,486,594 29,045 473,433 131,244 216,970 155,784 1,175,835 304,283
<br />2005-06 2,606,160 27,378 493,716 142,832 211,682 155,784 1,171,241 403,526
<br />2006-07 2,818,823 23,119 534,829 162,029 N/A 155,784 1,175,018 768,045
<br />2007-08 2, 964, 251 27, 873 583, 892 181, 424 N/A 1 S5, 784 1,176, 581 838, 697
<br />2008-09 2, 917, 594 27, 954 573, 812 194, 842 N/A 155, 784 1, 342, 700 622, 502
<br />~uwcc. ~,uy ur pan Lea^uro xeueveiopmen[ Hgency; urnan Analyr[es. rigures m ua[ies represent projections
<br />Mid-Term Review page 2
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