AgdaPkt 2004-12-13 - Laserfiche WebLink

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� -2.� ■ On-going administration of the Agency ■ Completion and implementation of the Downtown Precise Plan ■ Review and modification of height, density, and parking requirements to encourage market rate housing development in Downtown. Table 3 provides an estimate of net revenues available for projects and programs, lists projects and programs that are ongoing or that may be implemented, and estimates Agency expenditures for each program over this five year implementation ptan period. Based on projections prepared by Fraser and Associates, the Agency will receive approximately $4.1 million in net non-housing tax increment in 2005 and a total of $23.4 milfion over the next five years. The remainder of the funds necessary to implement these programs will consist of bond proceeds and land sale revenues that will be carried over from the prior implementation plan period and other funding sources that could include loans and advances from the City or private developers. The limit on the Agency's ability to issue new debt was reached for the Original Area in 2004 and will be reached for the First and Second Amendment areas in 2005 and 2010. However, the Agency is considering elimination of these limits as allowed under SB 211. Unforeseen projects in addition to those identified may be pursued in the implementation of the specific programs identified. In all cases, the Agency will only undertake those projects that are feasible given the resources at the time. There is no commitment to undertake projects beyond the resources of the Agency. It is anticipated that the Agency will periodically review the above- propo�ed programs, projects and expenditures, and based upon its priorities and resources available at that time, amend the subject implementation plan as necessary. G. Linkage with Blight The relationship between the completed programs/project activities and the blighted conditions in Project Area #2 is diagrammed in Table 4. Table 5 summarizes the major program and project activities anticipated over the next five years for Redevelopment Project Area #2 and illustrates how they contributed to the al�eviation of the area's blight. H. Housing Compliance and Plan 1. Introduction This is the Affordable Housing Compliance portion of the Implementation Plan. It has been prepared to meet the requirements of the State law and to guide the Redevelopment Agency in its housing related activities over the next ten years. Specifically, this report addresses the following section of the California Health and Safety Code: ■ Low and moderate-income housing production requirements (Section 33413) Keyser Marston Associates, Inc. 18610.001 \030-003; 12/6/2004; DRAFT 14