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<br /> <br /> <br />EURA <br />UGENE RBAN ENEWAL GENCY <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br />Action: Adoption of Resolution 1055 of the Urban Renewal Agency of the City of <br />Eugene Adopting the Budget, Making Appropriations, and Declaring the Amount of Tax <br />to be Received for the Fiscal Year Beginning July 1, 2010, and Ending June 30, 2011 <br /> <br /> <br />Meeting Date: June 28, 2010 Agenda Item Number: 4 <br />Department: Central Services Staff Contact: Mia Cariaga <br />www.eugene-or.gov Contact Telephone Number: (541) 682-5408 <br /> <br /> <br /> <br /> <br />ISSUE STATEMENT <br />The Agency Board is required to take final action on the FY11 Urban Renewal Agency budget. Oregon <br />Local Budget Law requires the Urban Renewal Agency of the City of Eugene to conduct a public <br />hearing to receive testimony on the FY11 Urban Renewal Agency Annual Budget as recommended by <br />the Budget Committee on May 19, 2010. Following the hearing, the governing body of the Urban <br />Renewal Agency may deliberate and approve a resolution adopting the budget of the Urban Renewal <br />Agency of the City of Eugene. <br /> <br /> <br />BACKGROUND <br />On May 19, 2010, the Budget Committee recommended that the City Council, acting as the Eugene <br />Urban Renewal Agency Board of Directors, adopt an FY11 Budget for the Eugene Urban Renewal <br />Agency that consists of the City Manager’s FY11 Proposed Budget. <br /> <br />Council Goals <br /> <br />The budget supports department work plans designed to meet Council Goals and Priorities. <br /> <br />Financial and/or Resource Considerations <br /> <br />Financial and/or resource considerations are detailed in the FY11 Proposed Budget Document and the <br />Urban Renewal Plan Amendment. <br /> <br />The plan amendment includes spending for three projects: <br />• Contribution to Lane Community College’s new Downtown Campus of $8 million <br />• Infrastructure improvements to the Farmers’ Market of $500,000 <br />• Assistance in funding the Broadway Place Garage debt, which will enable improvements to public <br />safety <br /> <br />Budget Committee Recommendation <br /> <br />Budget Committee review consisted of six work sessions and one public hearing on the City of Eugene <br />and the Urban Renewal Agency budgets. Public comment was received at five of the work sessions and <br />a separate public hearing on the budget proposal was conducted on May 17, 2010. <br /> <br /> <br />Z:\CMO\2010 Council Agendas\M100628\S1006284.doc <br /> <br />