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<br /> <br />EURA <br />UGENE RBAN ENEWAL GENCY <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br /> <br />Public Hearing and Action: Resolution Adopting a Supplemental Budget; <br />Making Appropriations for the Urban Renewal Agency of the City of Eugene <br />for the Fiscal Year Beginning July 1, 2012 and Ending June 30, 2013 <br /> <br /> <br />Meeting Date: June 24, 2013 Agenda Item Number: 6 <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 />Urban Renewal Agency Board approval of the second Supplemental Budget (SB2) for Fiscal Year <br />2012-2013 (FY13) is requested. Oregon Local Budget Law (ORS 294.471) allows for supplemental <br />budgets in the event of “an occurrence or condition that is not ascertained when preparing the <br />original budget or a previous supplemental budget for the current year”. This Supplemental <br />Budget does not authorize any increase in the property tax levy and has been published in <br />compliance with the Oregon Local Budget Law. <br /> <br /> <br />BACKGROUND <br />The only transaction included in this Supplemental Budget is to recognize revenue from the sale of <br />surplus property located east of the Federal Courthouse at 799 Ferry Street to Northwest <br />Community Credit Union (NWCCU) in the amount of $1,231,503, increase capital appropriations <br />for the system development charges to be paid by the Riverfront Urban Renewal District <br />($350,000) and for the Agripac Building relocation ($180,000), and increase Balance Available in <br />the URA Riverfront Capital Projects Fund by $701,503. <br /> <br />The Urban Renewal Agency approved the sale of this property to NWCCU on October 31, 2012. <br />The terms of the sale approved by the URA included an agreement that the system development <br />charges (SDCs) associated with the construction of the new NWCCU facility will be paid by the <br />Agency. The total amount of these charges is estimated at $350,000. <br /> <br />The historic Agripac building was moved to the temporary Eugene Water & Electric Board <br />(EWEB) site in May of this year. Riverfront URA funds were used to abate the asbestos within the <br />building, demolish the additions to the original structure, and move the structure to the EWEB <br />site. This Supplemental Budget provides $180,000 to cover the cost of these services. <br /> <br /> <br />RELATED CITY POLICIES <br />Transaction included in this Supplemental Budget conforms to the City’s Financial Management <br />Goals and Policies. <br /> <br />S:\CMO\2013 Council Agendas\M130624\S1306246.docx.doc <br /> <br />