|
West San Leandro-MacArthur Boulevard Project Area
<br />Introduction
<br />This project area is San Leandro's newest, formed in 1999 to link the City's industrial area west
<br />of I-880 with MacArthur Boulevard, a neighborhood business district struggling with high
<br />vacancies, traffic, and minimal owner investment. As stated in the original Redevelopment Plan
<br />for the West San Leandro-MacArthur Boulevard Project Area, the goal of the Project is to:
<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 Ciry's economic base.
<br />In the context of California redevelopment, "blight" is a legally defined concept, referring to
<br />physical, economic, and social conditions that impair private investment in the West San
<br />Leandro-MacArthur Boulevard Project Area {WSLPA), causing it to be a burden to the larger
<br />community of San Leandro. West San Leandro is the city's employment center, and its
<br />economic health affects the rest of the city and the region.
<br />The history of the redevelopment designation goes back to formation of a survey area in 1995. A
<br />community process guided the project area formation, eventually approved in 1999. The plan
<br />was subsequently amended in 2000 to allow the Agency to formally decline tax increment from
<br />17 significant parcels to allow taxing agencies to collect property tax from those parcels as if
<br />there were no redevelopment project area; however, all other provisions of the plan apply to
<br />those parcels. A citizens' Redevelopment Advisory Committee (RAC) advises the Agency on
<br />projects in the area. In 2003, the Redevelopment Plan was amended to extend the project area
<br />for an additional year, and it is now scheduled to terminate in 2030.
<br />Program Funding
<br />Table 6 provides the projected tax increment for the West San Leandro/MacArthur Boulevard
<br />Project Area for 2004-2009. It also shows what portion of these funds will go to the Affordable
<br />Housing Program and what portion has already been committed to outstanding debt obligations.
<br />The Agency issued Tax Allocation Bonds (TABS) in 2004 in this project area. Most of the TAB
<br />funds have been allocated to streetscape projects under development in the prior Implementation
<br />Plan period. The 2004 TABS balance is shown as a revenue line item in Table 7, with its funds
<br />expected to be spent by the end of 2005.
<br />m,>,~a ~ wp~* c~., i.Panrlrn_MaeArthnr Prniected Tax Increment
<br />Fiscal
<br />Year Gross Tax
<br />Increment Housing
<br />Set-Aside County
<br />Admin.
<br />Fee Pass-Through
<br />Payments ERAF
<br />Payment 2004 TABS
<br />Debt Service Available
<br />Tax
<br />Increment
<br />2004105 $1,660,000 $330,000 $20,000 $330,000 $100,000 $220,000 $660,000
<br />2005/Ob $1,780,000 $360,000 $20,000 $350,000 $100,000 $310,000 $640,000
<br />2006107 $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 Redevelopmen[ agency; Uroan nnaryacs.
<br />X004-2009 Implementation Plan
<br />AfLPP. 13
<br />
|