03/25/1974 Meeting - Laserfiche WebLink

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,perhaps 'only one amoUl-lt-io cover administrative coS't~ 'with -no interest charges --- ,on the deferred assessments. She suggested a Council subcommittee investigate : the possibilities and come back with recommendations for alternatives to make {assessments or accrual of interest on deferred collection less demanding on older people. (Mayor Anderson suggested that Shirley Swenson who prepared the report review the general problem outlined and bring back alternative suggestions. Mrs. Swenson 'doubted that she would be able to document existing practices but would try to find how similar problems were handled in other cities. Councilman'McDonald said it was his impression the City was proposing to charge interest on deferred assessments. He wondered how "elderly" would be defined. ~Manager pointed out tables in the study indicating 62 to 65 the normal ages. .designated in other cities. He said the City was now charging 7% interest on !assessments, the last bonds having been sold about a couple of years ago for )5-1/4 or 5~1/2%. Mrs. Swenson said the chart in the study was the result of reviewing national resources, ordinances, and asking for anything having to do with specific hardship problems tied in with age. Councilwoman Beal suggested consideration also be given to handicapped or ret.ired people living with no earned income or on fixed income. Councilman Murray sup- ported Mrs. Beal's suggestions. He noted that many people with fixed incomes lived ~'in his ward and became disinterested in improvements when the interest rate entered'- the discussion. ,.::-.. .. - Councilwoman Campbell wondered if the deferred assessments, assuming they'became a lien upon the property, would be paid by heirs in case of death or deducted from value of the property. Manager explained that the recommendation was to ,provlde at the time of assessment for lien upon the property but collection de- :ferred until transfer of property. The bonding application would be signed at (time of assessment, then upon transfer of property the assessment could be placed ~on a lO-year installment program with the same interest charges as any other in- ;stallment assessment. I :In answer to Councilman Hershner, Mrs. Swenson explained various interest rates applicable in other areas and listed throughout the study. Manager confirmed :Mr. Hershner's understanding that the City would retain funds from sale of bonds, ~.carrying the interest in cases of deferred collection of assessment. He said ~that was the recommendation, although there were alternatives. Finance Director [pointed out staff recommendation in the study for paying construction warrants [from the deferred assessment fund and holding the bonding applications until the Ideferral was no longer applicable, at which time it could be paid in cash or put ion installment payments. He confirmed Mr. Hershner's statement that this recom- Imendation was to finance the capital imprOVement itself, not the carrying charges. I I :Councilwoman Campbell asked how revenue sharing funds would be used in this con- fnectioJ1. Manager said revenue sharing money was used to establish the assessment ':deferral. fund which was to be retained as a revolving fund. If it was depleted ~becaus9 of having to pay interest, replacement funds would have to be appropriated \'either .from revenue sharing or general fund monies. Experience with acceptance IOf the program would give a basis for decision with regard to further appropriation~.i It was agreed that Mrs. Swenson would bring back recommendations with tments made at this meeting and that the Mayor would appoint a Council ~to consider those recommendations when they were available. regard to com- l subcommittee Comm 3/20/74 Affirm ,_ _. '.~_ ...._ ._ ,_.' 0, __ ---_,_ Q. ; Outslde-Wall Murals':" CouI1Cilman Murray inquired about the stii'tuti.pf suggested " use of murals on the outside of buildings and was informed that the question soon Comm would be before the Sign Code Board of Appeals for discussion. 3/13/74 '. File R.:Report, Mall Commercial Activities Committee - Councilman Keller reported Councilwoman Beal had met with the Eugene Downtown Association and would a report to the Council with regard to commercial activities on the mall March 20.committee meeting. ~... .- - he and; submi t: corrim at the; 3/13/74 . ".,..: File S. Rez-onlng property-bet~een-i-:5'and kins Row'east oi-c-~;';t~;;;:;ial (Earl G.I',eenr':,.>\ Manager explained that procedural requirements dictated by theFasa~q regula- I :tions were not followed in action taken at the March 11, 1974 Council meetingj iwherein ordinance .rezon!ng property sout~ of I-5, north.o~Kin~ Row, and east)! iof Centennial Boulevard was not adopted ~'n accordance w~ th act~on at the IFebruary 25 Council meetihg. '. Manager said City Attbr'ney would prepare ii' memo! , I 'indicating the deficiencies and what would be needed to correct the Council : ~action in order to be. in a legally defensive position based on the decision :made at the time the memo was presented. Copies were to be circulated priori ,to the March 25 Council meeting. .~ . Comm 3/13/74 File -~... __.' .-t 8' 3/25/74 - 8 ~~...? .. , ", '. .~ ." ,_. \ <<' ,:.I ';:7 _k. ~ ,~~ ~*"" - .- ..-~ ~