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CE,O|CFFS|M2016 <br />ITY OF UGENEREGON ONSERVATION INANCE EASIBILITY TUDY AY <br />Appendix A: Revenue Options Summary <br />The City of Eugene could issue general obligation bonds to <br />Voter Bonds raise substantial amounts of money, <br />support capital purposes. For example, a general obligation <br />approval enabling the cityto make important acquisitions <br />bond for $30 million would cost the average household $31 per <br />required.now while land is available. <br />year. <br />Costs would be spread out over a long time <br />horizon, and therefore are borne by both current <br />and future residents. <br />Bond Issue Debt Service Tax Req'd Cost/Home/Year* <br /> $2,207,453 0.1613$31 <br />Bond funds may not be used for operations and <br />maintenance. <br />*Average assessed value = $189,821. <br />The debt servicefigure for the proposed bond issue above is <br />based upon a general obligation bond issued for 20 years at 4% <br />interest. These estimates do not take into account bond <br />issuance costs, property tax collection rates or changes in <br /> <br />assessed value over the life of the bonds.Thisrate is used only <br />for illustration. City officials, financial advisors, bond counsel, <br />and underwriters would establish the actual terms of any bond <br />issue. <br />The City of Eugene could levy a local option property tax for <br />parksand/or recreation purposes. For example, a property tax Voter A local option levy wouldcreate significant <br />of $0.20 per $1,000 of assessed value couldgenerate approval funding for parks and conservation that could be <br />approximately $2.7 million annually, at a cost of about $38 per required.used for operations and maintenance purposes. <br />year for the average homeowner. <br />A local option levy may be imposed for five years <br />(ten years if imposed for capital purposes only). <br />Mill Rate Revenue/Year Cost/Home/Year* <br />0.1616 $ $33Local option levies are counted under the <br />Measure 5 tax rate limits and are the first to be <br />affected by compression loss if/when applicable. <br />*Average assessed value = $189,821. <br />The City of Eugene could implement a maintenance utility fee Ordinance A monthly utility fee would create significant <br />for parks. A monthly fee of $3 would generate about $2.5 million or voter funding for parks that could be used for <br />annually at a cost of $36 per housing unit.approval.operations and maintenance purposes. <br />The fee would be spread out over both residential <br />and non-residential properties, with potential for <br />reduced fees for low-income/senior housing. <br />Fee/Month Revenue/Year* Cost/Housing Unit <br /> $3 $36 <br />Revenue estimate based on residential units <br />only, further research needed to estimate <br />potential revenue from non-residential properties. <br />*Based on 69,951 housing units.Does not include a low income Eugene attempted to implement service fee via <br />assistance program, any factor for non-payment, and the cost of ballot measure in 2013. The measure was <br />administering and collecting the fee.defeated. <br />The City of Eugene could implement a meals tax. For example, Ordinance <br />a 1%tax could generate roughly per year, <br />or voter Allows the cityto collect revenues from visitors. <br />depending on restaurant sales.approval. <br />This estimate is based on revenues collected byAshland, as Eugene attempted to implement a restaurant tax <br />well as a 2014 report by the City of Eugene Revenue Team.via ballot measure in 1993. The measure was <br />Does not include the cost of administering the tax.defeated. <br />Revenues may be used foroperations and <br /> <br />maintenance. <br />30TTPL::CFD <br />HE RUST FOR UBLIC AND ONSERVATION INANCE EPARTMENT <br /> <br />