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Lease or Sale of Agency-Owned Property The Agency may sell, lease, or otherwise encumber its property holdings to pay the costs of Project implementation. Participation in Development If the Agency enters into agreements with property owners, tenants, and/or other developers that provide for revenues to be paid or repaid to the Agency, such revenues may be used to pay Project implementation costs. Other Available Sources Any other loans, grants, or financial assistance from the federal government, or any other public or private source will be utilized, as available and appropriate. The Agency will also consider use of the powers provided by Chapter 8 (Redevelopment Construction Loans) of the Redevelopment Law to provide construction funds for appropriate projects. Where feasible and appropriate, the Agency may use assessment district and/or Mello-Roos bond financing to pay for the costs of public infrastructure, facilities, and operations. Projected Tax Increment Revenues The primary source of project financing is anticipated to be tax increment revenue. Table C-1 presents a preliminary forecast of Project tax increment revenues, based on several assumptions noted below: 2003-04 Base Year Value: Assuming the Redevelopment Plan is adopted prior to July 20, 2004 the Agency will collect tax increment revenues from increases in the Project Area assessed value over fiscal year 2003-04. The San Joaquin County Auditor-Controller and State Board of Equalization have provided their respective reports of the estimated base year value of the Project Area. The base year reports set the Project Area's base year secured, unsecured and utility value at $7,293,781. Assessed Value Growth Rates: RSG has applied a 2% annual growth rate to forecast real property assessed values in future years. Personal property and nonunitary values were held constant due to their unpredictable nature. In addition, as noted below, the projections incorporate specific development assumptions that further increase the Project Area's projected tax increment revenues. Development Assumptions: RSG incorporated various development assumptions into the revenue forecast. Since specific development proposals are not in place at this time, actual project scope and timing may vary significantly from what is included in the forecast. The Port and ROSENOW SPEVACEK GROUP, INC REDEVELOPMENT AGENCY OF THE CITY OF STOCKTON MAY 3, 2004 ROUGH AND READY ISLAND REDEVELOPMENT PROJECT - C-3 - PRELIMINARY REPORT