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<br />38 <br />See “- Historical and Estimated Taxable Valuation and Available Net Tax Increment” <br />below for a recent history of assessed values in the Project Areas on an individual basis. <br /> <br />Plaza Project Area. The Fiscal Consultant reports the following facts relating to the <br />history of assessed value in the Plaza Project Area based on January 1, 2014 tax rolls as <br />provided by the County Assessor: <br /> <br />Assessed value within the Plaza Project Area increased from fiscal years 2010-11 <br />through 2014-15, adding approximately $48 million (15.26%) in value. In particular, assessed <br />values within the Plaza Project Area increased 0.73% in fiscal year 2010-11, 3.84% in fiscal <br />year 2011-12, 0.85% in fiscal year 2012-13, 1.93% in fiscal year 2013-14 and 7.98% in fiscal <br />year 2014-15. <br /> <br />West San Leandro/MacArthur Boulevard Project Area. The Fiscal Consultant reports <br />the following facts relating to the history of assessed value in the West San Leandro/MacArthur <br />Boulevard Project Area based on January 1, 2014 tax rolls as provided by the County Assessor: <br /> <br />Assessed value within the West San Leandro/MacArthur Boulevard Project Area <br />increased from fiscal years 2010-11 through 2014-15, adding approximately $151 million <br />(14.53%) in value. In particular, assessed values within the West San Leandro/MacArthur <br />Boulevard Project Area increased 0.54% in fiscal year 2010-11, 2.83% in fiscal year 2011-12, <br />2.70% in fiscal year 2012-13, 1.20% in fiscal year 2013-14 and 7.17% in fiscal year 2014-15. <br /> <br />Unitary Property <br /> <br />The amount of unitary revenues to be allocated to the Successor Agency from the Plaza <br />Project Area for fiscal year 2014-15 is estimated to be $3,531. <br /> <br />The amount of unitary revenues to be allocated to the Successor Agency from the West <br />San Leandro/MacArthur Boulevard Project Area for fiscal year 2014-15 is estimated to be <br />$17,561. <br /> <br />The Fiscal Consultant assumes these allocations of unitary revenues will remain <br />constant for purposes of projecting tax increment available to pay debt service on the 2014 <br />Bonds. <br /> <br />The Redevelopment Plan for the Plaza Project Area <br /> <br />Plaza Project Area Original Redevelopment Plan. The City Council of the City <br />adopted the Plaza Project Area Redevelopment Plan for the Plaza Project Area on May 15, <br />2000 pursuant to its Ordinance No. 2000-09. The Plaza Project Area was created through the <br />merger of the Plaza 1 Project Area and Plaza 2 Project Area. The Plaza 1 Redevelopment Plan <br />was adopted on December 28, 1960 by Ordinance No. 1295 N.S. and the Plaza 2 <br />Redevelopment Plan was adopted on December 26, 1967 by Ordinance No. 67-62. Both plans <br />were subsequently amended several times. See "Appendix H – Fiscal Consultant's Report." <br /> <br />The City first established a redevelopment project in 1960 to deal with the inadequacies <br />and deterioration of public and private buildings and facilities in the heart of the City. The <br />original redevelopment project area was designated as the “Downtown Plaza Redevelopment <br />Project Area” which later became the “Plaza 1 Project Area.” In 1967, the City established the <br />Plaza 2 Project Area. The original Plaza 2 Project Area was expanded by the addition of