 |
|
|
Acorn
The Acorn Project Area is one of the oldest redevelopment areas in the city. It is a small parcel of land located in West Oakland, just west of 980, and adjacent to downtown. It was established in 1962, and was subject to three major projects. Two low-income, urban renewal residential projects were built, the Acorn and Mohr Housing Developments. In addition, the Acorn Shopping Center was constructed at the corner of 7th and Market. Recent activity in the area involved rehabilitating the old housing developments. This area is considered to be completed according to ORA.
Description of Project Area
Date Created: 1961
Created by Ordinance/Resolution:
Redevelopment Plan Approved: November 30, 1961
Plan Termination Date: January 1, 2009
Subject to 1993 Reforms: No
Tax Increment Revenue Limit: $30,000,000
Size: 25 Acres
Location (general): Embarcadero to 10th St., Brush to Union, comprising aspects of adjacent blocks in West Oakland
Contacts
Community Economic Development Agency Staff:
Roy Schweyer
Housing and Community Development Manager
(510) 238-3501
rlschweyer@oaklandnet.com
City of Oakland Acorn webpage
Redevelopment Area Projects
Complete
- Acorn Development Rehabilitation
- Mohr Housing Development Rehabilitation
- Acorn Shopping Center
Financial Information
Tax Increment (TIF) Revenue
| |
FY 89-90 |
FY 90-91 |
FY 91-92 |
FY 92-93 |
FY 93-94 |
FY 94-95 |
FY 95-96 |
FY 96-97 |
| Gross TIF ** |
$436,885 |
$712,878 |
$793,702 |
$734,679 |
$781,117 |
$728,892 |
$834,339 |
$849,274 |
| Payments to Other Agencies |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
| Set-Asides |
$87,377 |
$142,576 |
$158,740 |
|
|
|
$166,868 |
$169,855 |
| Net TIF (before Debt Service Expenditures) |
$349,508 |
$570,302 |
$634,962 |
|
|
|
$667,471 |
$679,419 |
| |
FY 97-98 |
FY 98-99 |
FY 99-00 |
FY 00-01 |
FY 01-02 |
FY 02-03 |
FY 03-04* |
FY 04-05* |
| Gross TIF ** |
$904,285 |
$982,113 |
$911,433 |
$868,271 |
$938,256 |
$966,080 |
$988,150 |
$1,012,853 |
| Payments to Other Agencies |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
| Set-Asides |
$180,857 |
$196,423 |
$182,287 |
$173,654 |
$187,651 |
|
$306,327 |
$324,113 |
| Net TIF (before Debt Service Expenditures) |
$723,428 |
$785,690 |
$729,146 |
$694,617 |
$750,605 |
|
$681,824 |
$688,740 |
* Projected in ORA Budget for FY 2003-2005
* *From State Controller “Community Redevelopment Agencies Annual Report” |
Set-Asides
| |
FY 89-90 |
FY 90-91 |
FY 91-92 |
FY 92-93 |
FY 93-94 |
FY 94-95 |
FY 95-96 |
FY 96-97 |
| Housing Set Aside |
$87,377 |
$142,576 |
$158,740 |
$146,936 |
$156,223 |
$145,778 |
$166,868 |
$169,855 |
| ERAF Shift |
$0 |
$0 |
$0 |
|
|
|
$0 |
$0 |
| Total Set Asides |
$87,377 |
$142,576 |
$158,740 |
|
|
|
$166,868 |
$169,855 |
| |
FY 97-98 |
FY 98-99 |
FY 99-00 |
FY 00-01 |
FY 01-02 |
FY 02-03 |
FY 03-04* |
FY 04-05* |
| Housing Set Aside |
$180,857 |
$196,423 |
$182,287 |
$173,654 |
$187,651 |
$241,520 |
$247,038 |
$253,213 |
| ERAF Shift |
$0 |
$0 |
$0 |
$0 |
$0 |
|
$59,289 |
$70,900 |
| Total Set Asides |
$180,857 |
$196,423 |
$182,287 |
$173,654 |
$187,651 |
|
$306,327 |
$324,113 |
| * Projected in ORA Budget for FY 2003-2005 |
Expenditures
| |
FY 89-90 |
FY 90-91 |
FY 91-92 |
FY 92-93 |
FY 93-94 |
FY 94-95 |
FY 95-96 |
FY 96-97 |
| Capital Expenditures |
|
|
|
|
|
|
|
|
| Debt Service Expenditures |
|
|
|
|
|
|
|
|
| Total Expenditures** |
|
|
|
|
|
|
|
|
|
FY 97-98 |
FY 98-99 |
FY 99-00 |
FY 00-01 |
FY 01-02 |
FY 02-03 |
FY 03-04* |
FY 04-05* |
| Capital Expenditures |
|
|
|
|
|
|
$0 |
$0 |
| Debt Service Expenditures |
|
|
|
|
|
|
$393,050 |
$391,220 |
| Total Expenditures** |
|
|
|
|
|
|
$393,050 |
$391,220 |
| * Projected in ORA Budget for FY 2003-2005 |
Bonds
| Bond Name/Type
|
Issuing Agency |
Date |
Maturity Date |
Principal |
Total Interest |
Total Amount to be Paid by ORA |
Principal Outstanding (as of 7/1/2005 )* |
| Tax Allocation Refunding Bond |
U.S. Bank |
11/1/1988 |
5/1/2007 |
$3,375,000 |
$3,190,387 |
$6,565,387 |
$715,000 |
| * Projected in ORA Budget for FY 2003-2005 |
Total Debt (As of 7/1/2005)
| Total Bonded Debt |
$715,000 |
| Other Debt |
$1,893,862 |
| Total Debt |
$2,608,862 |
Demographics
| |
Acorn |
1990 |
2000 |
% change |
| Total population |
1,941 |
1,403 |
-28 |
Race |
|
| % White |
3 |
10 |
|
| % Black |
87 |
45 |
| % Am. Indian/Alaskan Native |
0 |
0 |
| % Asian/Pacific Islander |
5 |
39 |
| % Other |
5 |
4 |
| % Two or more races |
N/A |
2 |
| % Hispanic |
5 |
12 |
Income |
|
| Mean Household Income (1999 $) |
16,062 |
25,936 |
61 |
| % Persons Below Pov. |
56 |
42 |
|
Employment |
|
| % Labor Force Unemployed |
21 |
13 |
|
| % 16 yrs+ not in labor force |
59 |
54 |
Housing |
|
| % Owner occupied housing units |
5 |
4 |
|
| % HH paying > 30% of income for housing |
58 |
42 |
| Mean value of owner occ. housing units (2000 $) |
146,444 |
168,452 |
15 |
Educational attainment |
|
| % 25 yrs. + with HS deg. or higher |
50 |
57 |
|
| % 25 yrs. + with bach. deg. or higher |
3 |
13 |
| Source: US Census Bureau, Summary File 3, 1990 and 2000 |
|
