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Facilitate design and financing to construct a new seismically safe four-story Estudillo-
<br />Callan Parking Garage to provide additional parking to enable higher density development
<br />in the downtown.
<br />Work with Joint Area property owners and business owners to create a Property Business
<br />Improvement District (PBID) or a Community Benefit District (CBD) to fund the
<br />continuation of services such as maintenance, security, parking management, marketing, etc.
<br />• Support the continued undergrounding of utility lines along East 14th Street, converting
<br />aerial utility services to underground service systems and upgrading street lighting.
<br />• Implementation of the streetscape-related recommendation of the East 14th Street
<br />South Area Plan, including widening sidewalks, installing new street trees and street
<br />furniture, and adding crosswalks and landscaped medians where appropriate to East 14th
<br />Street between downtown and 150th Avenue.
<br />• Reconfiguration and beautification of the busy East 14th Street/150th Avenue/Hesperian
<br />Boulevard .intersection.
<br />• Continue redevelopment of Bayfair Center, specifically as it relates to implementation of
<br />the Expansion Parcel Study for an underutilized 2.5 acre site currently leased to Bayfair
<br />Center for surface parking.
<br />As Table 5 makes clear, the Agency will not be in a position to initiate major projects in the Joint
<br />Area in this Implementation Plan period. The existing obligations in the project area and the State-
<br />imposed SERAF payment make new major redevelopment projects infeasible.
<br />The SERAF payment is presently being challenged in court as part of a suit brought by the California
<br />Redevelopment Association. The resolution of that case will have a substantial impact on the
<br />Agency's ability to initiate and maintain projects. Accordingly, the Agency has prepared preliminary
<br />five-year budgets with and without that payment. If the payment is required the Agency plans to
<br />reduce some administrative costs and suspend implementation of the Commercial Rehabilitation
<br />Program. Even with these cuts, additional reductions will be required over the implementation period.
<br />If the SERAF requirement is overturned, the Agency can continue these programs and will maintain
<br />limited funding availability for new programs.
<br />Both scenarios below assume that Agency funding for downtown maintenance and security services
<br />will not be required after 2011-12. This assumption is contingent on formation of a business
<br />improvement district.
<br />Table 5. Joint Area Funds Allocation
<br />
<br />Fiscal Year Starting
<br />Funds Available Tax
<br />Increment SERAF
<br />Payment Admin-
<br />istration DT Maint.,
<br />Sec., Mktng Commercial
<br />Rehab. Dev./ SLUSD
<br />Pmts Ending
<br />Balance
<br />2009-10 3,283,000 61,047 (1,320,804) (449,000) (133,000) (50,000) (460,000) 931,243
<br />2010-11 931,243 692,203 - (438,000) (133,000) - (460,000) 592,445
<br />2011-12 592,445 744,437 - (438,000) (133,000) - (637,000) 128,882
<br />2012-13 128,882 809,643 - (438,000) - - (637,000) (136,476)
<br />2013-14 (136,476) 916,536 - (438,000) - - (587,000) (244,940)
<br />Table 6 below summarizes the funding allocations for projects funding by the 2008 TAB proceeds
<br />($25.1 million). All remaining funds are expected to be expended during the 2010-2014
<br />implementation period.
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