"The proposed project is a redevelopment plan for a site of approximately 506 acres in the City of Santa Cruz, within Santa Cruz County, California. The project area is generally bounded by the San Lorenzo River, Ocean View Street, on the east; the Pacific Ocean on the south; Bay and California Streets on the west; and Lincoln and Soquel Streets on the north ... To arrest the decline and decay of the residential and commercial area. To make the area a source of pride to the persons residing and working in Santa Cruz or visiting the City. To provide new and rehabilitated housing units for low, moderate, and other income families and individuals ..."--Pp. 2-6, Project description.