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Attachment D Funding Research After the February Z3rd public heating, the Committee took another look at potential funding sources. We explored dedicating Syste~ Development Charges (SDC) and were discouraged to find that while the University does pay SDCs ,, this SDC revenue does not flow directly back to the neighborhood. Similarly, we looked at the University's portion of In-Lieu of Tax (ILOT) Payments, which EWEB pays to the City. According to Josh Rudick (Utilities Analyst at the UO), the university pays $2.245 million per year to EWEB for its Eugene facilities. EWEB pays 6% of its revenues to the city for ILOT. Six percent of $2.245 million is $134,700 per year. These and other funding sources currently go into either the City's general fund or other city-wide funds. There are currently no existing funding sources that can be used specifically for mitigation of traffic impacts in the Fairmount Neighborhood. As a result, current mechanisms are inadequate to implement and fund the measures needed to mitigate the impact of development in the Fairmount Neighborhood. This is yet another reason why it is critical that the City Council approve the funding of the two studies now so that the problems and solutions are dearly defined. Then after the study is completed, the City will be better able to determine the longer term funding sources to successfully implement the identified mitigation measures (reference Attachment B for a possible innovative solution to the funding problem of implementing the needed mitigation measures). ~ Reference the UO's written testimony after the February 23, 2004 public hearing regarding the SDC mounts that they have paid for various UO projects. Fairmount East Campus Committee March 1, 2004 Application File # MA 03-7, RA 03-5, CA 03-5 Attachment D City Council Agenda page 288