06/25/1984 Meeting - Laserfiche WebLink

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meetings and two public hearings in reviewing the FY85 Executive Budget Recommen- dations, during which time the budget was modified. He explained that the . budget basically provided for the continuation of eXisting services into the next fiscal year with few restorations or service system enhancements. He added that there were no new revenue sources in the budget and that it continued the property tax support after the expiration of the Eugene Plan, resulting in a levy of approximately $22.6 million and a debt service levy of $3.6 million. This will result in a property tax rate of $9.78 per $1,000 of assessed property value--an increase of $.23 over the current year. Mr. Wong stated that the proposed budget included the issuance of Tax Anticipations Notes (TANs) as a means to fund the cash flow requirements of the first six months of the General Fund. He said staff will request authorization to proceed with the TANs issuance on June 27. Referring to his June 20, 1984, memorandum to the City Council, Mr. Wong reviewed the key issues included in the proposed budget. He explained that the proposed budget provided for a 4 percent increase in the Operating Budget and a 9 percent increase in the Capital Budget--an overall increase of 4.3 percent. He added that the council will take action on the appropriation act to certify the property tax levy at its June 27 meeting. The public hearing was opened. Speaking in favor of the proposed budget: Carroll D. Fentress, 3883 Blanton Road, stated that he had recently toured the east coast and found that the cities visited had healthy economies and had relatively low real estate taxes combined with sales taxes ranging from five to ten percent. He stated that he heard no complaints about the sales taxes during his trip. Mr. Fentress stated that the trip reaffirmed his family's decision to e relocate to Eugene. He urged the council to approve the FY85 Budget as recom- mended to the council by the Budget Committee, including the Hult Center budget items. Jennifer King, 1870 East 27th Avenue, a member of the Performing Arts Commission, stated that the commission supported the proposed FY85 Budget. She stated that the Hult Center was fundamental to Eugene's economic development, drawing both regional and national attention and providing cultural opportunities for the area citizens. Ms. King said it had been a good year for the center, adding that several changes had been made following the recommendations of the Alexander Grant and Company study. She added that the Hult Center Task Force had also developed recommendations for funding which would allow the public to provide input into that process. She briefly reviewed some statistics on the Hult Center as developed by the Support Hult Center Organization (SHO), stating that attendance at Hult Center events was approximately 500,000 as of May 31 and that approximately $15 million had been spent in the local economy as a result of the Hult Center. She said that everyone involved was looking forward to the numerous summer activities, including the Bach Festival and the International Society of Music Educators Conference. Ms. King stated that the commission has developed a work plan and was considering the recommenations of the Grant study. Sue Keene, 3260 Storey Boulevard, representing Support Hult Center Organization (SHOJ, stated that she had previously forwarded a letter including a fact sheet to the council addressing certain issues. She stated that the figures mentioned e June 25, 1984 Page 2 MINUTES--Eugene City Council