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
• Contacts
• Projects within Redevelopment Area
• Financial Information
• Demographic Information

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