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<br />38 <br />Plan for the Project Area was originally adopted by the City Council of the City on July 8, 1993 <br />by Ordinance No. 93-012, and amended seven times. The Redevelopment Plan provides that <br />tax increment revenues generated from the Project Area are split between the City and the <br />County of Alameda by a formula. The percentage payable to each entity previously varied <br />pursuant to the Project Area Agreement between the City and the County, but is now equal to <br />50% of net increment through the remaining life of the Project Area. See “SECURITY FOR THE <br />2018 BONDS – Project Area Agreement with County.” <br /> <br />Land Use Types <br /> <br />The Redevelopment Plan for the Project Area sets forth the principal land uses <br />permitted, in accordance with the City’s General Plan, and the building restrictions in project <br />development. It also assigns the Successor Agency and the City their respective <br />responsibilities in carrying out the Redevelopment Plan. Provision is made for rehabilitation as <br />well as new construction and sets forth conditions and procedures required under both <br />approaches. Construction is required to comply with all applicable State and local laws in effect, <br />including without limitation, building, electrical, heating and ventilating, housing and plumbing <br />codes of the City. Property within the Project Area is currently zoned and utilized for a variety of <br />uses. <br /> <br />The approximately 1,700-acre Project Area’s land area is roughly half within the City <br />(850 acres) and half within the County (850 acres). The Project Area includes a mix of <br />commercial, residential and industrial uses, including shopping centers, a regional auto mall, a <br />new housing subdivision, and manufacturing plants. <br />The table on the following page shows the value of existing land uses for fiscal year <br />2017-18 in the Project Area. <br /> <br /> <br />143