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<br />løA-LJ <br /> <br />INTRODUCTION <br /> <br />The Redevelopment Law requires the adoption of an annual budget that contains the following <br />items: <br /> <br />I. <br />II. <br />III. <br />IV. <br /> <br />Review of 1999-2000 Work Program <br />Proposed Work Program for 2000-2001 <br />Projected Revenues and Expenditures for 2000-2001 <br />Proposed Indebtedness for 2000-2001 <br /> <br />The following sections provide the details for these four items. <br /> <br />I. REVIEW OF 1999-2000 WORK PROGRAM <br /> <br />The following goals were defined in the Agency's 1999-2000 budget. They were divided into <br />activities relating to housing, and those relating to economic development. They are reviewed in <br />this same order: <br /> <br />Housing <br /> <br />1. Rolison Road <br />The objective was to enter into a Disposition and Development Agreement (DDA) with Habitat for <br />Humanity by September 1999. The eventual agreement was executed in April 2000. The design <br />of the project took longer than Habitat had anticipated, as did the estimates of site remediation. Site <br />work is currently under way. . <br /> <br />2. Franklin Street Area <br />The goal was to execute a DDA in the summer of 1999. At the time this objective was defined, the <br />Agency intended to enter into just one Disposition and Development Agreement (DDA). However, <br />the needs and timelines of the two developers - Shea Homes and Irvine Apartment Communities <br />(lAC) - diverged. The Agency executed a DDA with lAC in August 1999 and a separate DDA with <br />Shea in September 1999. <br /> <br />Economic Development <br /> <br />1. Economic Development Strategy <br />The Economic Development Coordinator worked with target industries, in particular the auto <br />dealers, to meet their relocation and expansion needs. The Sign Ordinance was forwarded to <br />Council for approval. <br /> <br />3 <br /> <br />. <br />