City of Eugene
7/23/2007 9:12:53 PM
11/2/2006 4:21:49 PM
City Council Minutes
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<br />the first five to eight years of operation. Mr. Gleason said some opportunity <br />existed, but it probably was beyond prediction abilities. <br /> <br />4It Mr. Rutan showed a recent Business Journal article on the expansion of the <br />Portland airport and said copies would be made available to councilors. He <br />read portions of the article stating that the airport was a self-sustaining <br />operation and that no tax dollars were needed to pay for improvements, which <br />cost more than $11 million. According to the article, the Portland airport <br />collects about $24 million a year in landing and concession fees, and Mr. <br />Rutan noted that much of that was in cargo, whi ch he said was a great <br />opportunity. He added that he had been told the only money-making projects <br />for municipalities were airports and golf courses. <br /> <br />Mr. Wong said the ordinance for the GO revenue-backed bond was proposed to <br />state that the first funding source for debt service payment would be airport <br />profits, the second source would be new revenue sources, the third was yet to <br />be decided, and the fourth would be property taxes. <br /> <br />Ms. Wooten suggested a combination of new revenues, such as a rental car tax <br />or an increase in room taxes, and decreasing the amount to be taken from the <br />capital budget, in order to spread the burden of the debt service. Mr. Rutan <br />said new revenue sources would take too long to implement, and the <br />subcommittee had wanted to keep the project on schedul e. He said the <br />recommendation offered an overall strategy for paying the annual debt service. <br />He said new revenue sources could be investigated between now and March, and <br />if they proved workable, they could be incorporated into the overall strategy. <br /> <br />Ms. Schue said she did not think issues could be resolved before March. Mr. <br />~ Rutan suggested placing a maximum cost of financing before voters, along with <br />~ a statement of the council.s intention to seek other funding opportunities. <br />Mr. Hansen said a car rental tax would require annexation of the airport and <br />would give Eugene one of the nation1s highest tax rates. Mr. Miller said he <br />thought it would be better for voters and for the City of Eugene to dedicate <br />funds to capital in a straightforward way. He said all revenues ultimately <br />came from taxpayers. Ms. Schue said she favored making the airport the <br />highest priority capital item and continuing to seek other sources of revenue. <br /> <br />Ms. Bascom said she did not want to damage an already underfunded operating <br />budget. She suggested pursuing regional sources of funds. <br /> <br />Mr. Rutan said he thought it was important to inform voters about what they <br />would be getting with the airport expansion. He said the airport already had <br />a tremendous economic impact on the community, and the future impact could be <br />even more substantial. He suggested including statistics on economic <br />development opportunities and statements such as that by Atlanta Mayor Andrew <br />Young, that the airport "was the best investment ever made in the community.1I <br /> <br />Ms. Wooten said she was extremely uncomfortable with funding the debt service <br />out of capital improvement projects over a period of 20 years. She said the <br />CIP already was behind schedule, and she thought it was an error not to <br />involve the public more clearly and seriously in the development of a voter <br />package. She said she agreed that the airport needed improvement and was part <br />of an economic development program, but the package being taken to voters was <br />not the correct course. <br /> <br />4It MINUTES--City Council Dinner/Work Session December 15, 1986 Page 3 <br />
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