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Ordinance No. 20564
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Ordinance No. 20564
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6/15/2016 2:05:21 PM
Creation date
6/15/2016 2:00:16 PM
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Council Ordinances
CMO_Document_Number
20564
Document_Title
Ordinance Adopting Amended Urban Renewal Plan for Downtown Urban Renewal Distrcit
Adopted_Date
6/13/2016
Approved Date
6/14/2016
CMO_Effective_Date
7/15/2016
Signer
Piercy
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ready to finalize plans and move forward with redevelopment. The Agency would hope to <br />complete the transaction by 2019. <br />Project Delivery Administration: Actions for this activity include program administration <br />(project management, loan administration, support for ongoing investments within the <br />Plan Area, public engagement, financial services, debt issuance and administration); legal <br />services; reporting (budgets, financials); preparation of market, feasibility, or other <br />economic studies; preparation of design, architectural, engineering, landscaping <br />architectural, planning, development, or other developmental studies; providing <br />accounting or audit services; providing special rehabilitation, restoration, or renovation <br />feasibility and cost analysis studies; assisting in preparation of the annual financial reports <br />required under Sections 800 and 900 of the Plan; providing property acquisition <br />appraisals; and evaluation of the plan and the success of its activities. Many of the activities <br />are provided through a contract between the City of Eugene and the Agency dated June 15, <br />2004. The Agency may also acquire, rent, or lease office space and office furniture, <br />equipment, and facilities necessary to conduct its affairs in the management and <br />implementation of this plan. <br />Projections for district administration assume that once the projects are complete, district <br />administration expenses will be reduced to a level that will be sufficient to run the loan <br />program, support ongoing investments within the Plan Area, and ensure administration of <br />outstanding debt, budget development, annual review of project activities, and financial <br />report preparation. Specifically, the administration projection summarized in the bullet <br />points below includes staffing for project delivery, ongoing financial administration, and <br />the loan program. Additional items in the projection include legal and consulting fees <br />necessary to protect the City/Agency and complete the Projects, debt issuance cost needed <br />for the Projects, and property management. <br />• Project delivery: 2 FTE; $0.27M average per year FY17 thru FY21 <br />• Loan program administration: 0.9 FTE; $0.13M average per year FY17 thru FY27 <br />• Legal costs, public engagement, financial administration, overhead & misc.: $0.1M <br />average per year FY17 thru FY27; higher in the early years and a smaller amount <br />for maintenance over time <br />• Debt Issuance costs: $0.3M when issued; to be determined <br />Report on the 2016 Amendment 14 <br />
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