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<br />- <br /> <br />/.OJ .~ <br />. <br /> <br />I .a~- <br />'~ <br /> <br />M I NUT E S <br /> <br />Eugene City Council <br />Dinner/Work Session <br />McNutt Room--City Hall <br /> <br />May 20, 1985 <br />5:30 p.m. <br /> <br />COUNCILORS PRESENT: Cynthia Wooten, Richard Hansen, Emily Schue, Freeman <br />Holmer, Debra Ehrman, Ruth Bascom, Jeff Miller, Roger <br />Ru ta n . <br /> <br />Mayor Brian Obie called the work session to order. He said the council would <br />not be asked to make decisions. The session was to be informative. <br /> <br />I. ALTERNATIVE CAPITAL FINANCING <br /> <br />City Manager Micheal Gleason said the staff report would include information <br />about the 20-year costs of financing the Eugene Agenda capital projects and <br />operations, financing general capital projects in light of -the loss of Federal <br />Revenue Sharing funds, and financing infrastructure maintenance costs which <br />the City has been deferring. He said there was no way to summarize the infor- <br />mation. The staff would discuss the assumptions and the results of each <br />action. <br /> <br />Mr. Gleason said the Metro Area General Plan and specialized studies indicate <br />the growth and density the community will achieve. They are the basis for the <br />Capital Improvement Program (CIP) the council adopts. Each year the council <br />adopts a capital budget which implements the first year of the ten-year CIP <br />and an operating budget. Each year a six-year Financial Plan is completed. <br />In the past, the council has not had a revenue plan to forecast how the CIP <br />and the operating budget will be funded. The staff would present information <br />which could be used to develop a revenue plan for the next 20 years. <br /> <br />Finance Director Warren Wong distributed copies of flip-chart materials titled <br />IIRevenue Worksession," a report titled "Analysis of Selected Revenue Alterna- <br />tives for the City of Eugene" from Chastain Economic Consulting, and a report <br />titled "Eugene Agenda Capital Financing" to the councilors. He said.Chastain <br />Economic Consulting had access to the State financial forecasting system. <br /> <br />Discussing the material in the "Revenue Worksession," Mr. Wong reviewed basic <br />tax evaluation criteria which are used to examine taxes. The criteria are <br />productivity, neutrality, equity, efficiency, capacity, stability, and politi- <br />cal acceptability. He reviewed the assumptions, alternative assumptions, and <br />projected yields for a personal income tax, a corporate income tax, and an <br />employee-paid payroll tax. <br /> <br />MINUTES--Eugene City Council Work Session <br /> <br />May 20, 1985 <br /> <br />Page 1 <br />