SCH Number 2009121038

Project Info

Title

Amended and Restated Redevelopment Plan for the Merged San Jacinto Redevelopment Project Area

Description

Amendment No. 7 to the Redevelopment Plan for the 3,440-acre San Jacinto Redevelopment Project Area includes: 1) Amending the existing Redevelopment Plan for the San Jacinto Redevelopment Project to merge it with the Soboba Springs Redevelopment Project Area for financial reasons. More specifically, amending the Redevelopment Plans for the existing San Jacinto and Soboba Springs Project Areas to combine the tax increment and outstanding bonded indebtedness limits for the proposed Merged Project Area are those previously establishes for the existing San Jacinto Project Area. 2) Updating and expanding the capital improvement projects list for the proposed Merged San Jacinto Redevelopment Project; 3) Adopting a single Merged, Amended and Restated Redevelopment Plan to cover the proposed Merged Project Area; and 4) Reinstate eminent domain in the San Jacinto Project Area for a 12 year period commencing with the effectiveness of the ordinance adopting the Amended and Restated Redevelopment Plan (if adopted), with the prohibition that the Agency cannot acquire by eminent domain any single family owner occupied home pursuant to Section 19 of Article 1 of the State of California Constitution (Proposition 99). Eminent domain authority will be applicable within the Existing San Jacinto Project Area and not in the Soboba Springs portion of the Merged Project Area Amendment No. 2 to the Redevelopment Plan to the 645-acre Soboba Springs Redevelopment Project Area includes: 1) Amending the existing Redevelopment Plan for the San Jacinto Redevelopment Project to merge it with the Soboba Springs Redevelopment Project Area for financial reasons. More specifically, amending the Redevelopment Plans for the existing San Jacinto and Soboba Springs Project areas to combine the tax increment and outstanding bonded limit so that the tax increment and outstanding bonded indebtedness limits for the Proposed Merged Project Area are those previously established for the existing San Jacinto Project Area. This amendment will have the effect of increasing both the tax increment and outstanding bonded indebtedness limits for the Soboba Springs Project Area; 2) Updating and expanding the capital improvement projects list for the Proposed merged San Jacinto Redevelopment Project; 3) Eliminating the time to limit to incur debt pursuant to SB211 Statutes of 2002; and 4) Adopting a single Merged, Amended and Restated Redevelopment Plan to cover the proposed Merged Redevelopment Project Area.

2 documents in project