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San Leandro Redevelopment Agency 2004-2009 Implementation Plan Introduction The San Leandro Redevelopment Agency, first formed in 1960, has a long tradition of undertaking public benefit projects, and has shaped the face of contemporary San Leandro. An inner-ring suburb of 80,000 in the San Francisco Bay Area, San Leandro's lack of undeveloped land has created many opportunities for the Redevelopment Agency on infi11 sites. An auto wrecker became affordable apartments, an abandoned bargain furniture warehouse turned into a neighborhood grocery store, and an old nursery is now auto dealerships. In canforrnance with California Health and Safety Code, this document updates the achievements of the Agency in the past five years and lays out the plan for the next five years. A sobering note is struck in this plan because of financial constraints at both the state and local levels. The state's mandatory ERAF shift from local redevelopment agencies to the schools bumps up against pre-existing obligations, drastically limiting the new projects the Agency can undertake. Table 1 covers the expected revenues and the ERAF shift as currently understood. Additionally, the City of San Leandro, administrative host to the Redevelopment Agency, is suffering from high operational costs and reduced revenues. Table 1. San Leandro Redevelo ment A enc Pro'ected Tax Increment Fiscal Year SLRDA Gross Tax Inerement* Expected ERAF Pa ent Gross {Minus ERAF) 2004-OS $ 11,820,000 $890,000 $ 10,930,000 2005-06 $ 12,290,000 $890,000 $ 11,400,000 2006-07 $ 12,760,000 $ 12,760,000 2007-08 $ 13,254,000 $ 13,250,000 2008-09 $ 13,750,000 $ 13,750,000 Five Year Total: $ 62,090,000 Source: San Lenndro Aedevelopmenl ftgency; Urban AnalyRCs * includes County portion of the Joint Project Area. Redevelopment funding in California consists mainly of tax increment, a portion of the property tax revenue collected within the redevelopment project areas. "Tax increment" refers to the taxes collected on the increase in assessed value {over and above the base year assessed value} of properties in the redevelopment areas, starting from the date of Redevelopment Project Area designarion. Redevelopment agencies are authorized to take a share of the tax increment, and in most cases, the other taxing agencies take a share of it as well. The San Leandro Redevelopment Agency is administered out of the Office of Business Development, a division of the City Manager's Office. The full-time staff of three is also responsible far the City's economic development initiatives. The Agency's housing activities are handled mainly by the Community Development Department's Housing Manager, with assistance from Business Development an special development projects. Engineering and Transportation staff manages capital projects funded by the Agency, and Finance staff handles the financial operations. 2004-2009 Implementation Plan Pace 1