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The Agency continues to work with the private developer of Creekside Plaza, the City's <br />first Class A office complex, on predevelopment marketing of the expanded third and <br />final building in the Creekside Plaza office complex. <br />ECONOMl'CFACTORS <br />Tax increment revenue in the Plaza Project Area increased modestly in 2006-07, with growth <br />projected at 5% in 2007-08 and then starting to decline as some of the original areas included in <br />the Project reach their expiration dates. The Plaza Project Area remains constrained by its <br />relative small size. <br />Significant increases in tax increment in the Joint Project Area continued due to redevelopment <br />efforts in the Alameda County portion of the project area and rapid residential price appreciation. <br />This positive effect will likely be tempered as the project area continues to be affected in 2007- <br />08 by the tax increment-sharing agreement with the Alameda County Community Development <br />Agency and with the recent chaos in the mortgage industry. <br />The West San Leandro/MacArthur Boulevard Project Area experienced a significant increase in <br />revenue in 2006-07 as a result of the turnover of property in the project area and private <br />investment and development in response to the Agency's street improvements on MacArthur <br />Boulevard. <br />10 <br />