08/06/1986 Meeting - Laserfiche WebLink

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public hearings in the process, and that the proposal would only include one public hearing. e Ms. Brody said that the commission suggested including a public information memorandum with the CIP since citizens have requested information stating why projects were deferred or dropped from the CIP. e Gary Long distributed a brief revenue summary on the status of the CIP. He explained that City policy has been to submit a CIP with a ten-year horizon, and with the first three years to be matched with a financial plan. Due to a loss of general revenue sharing, he said it is difficult to be consistent with the policy. He explained that the City is $706,083 short of FY87 revenues for General Capital Funding. He said the City is releasing as many projects as possible for implementation, but it will not release a certain number of projects until there are assurances of adequate revenue sources. If the projects are not financed, he said that they may run into FY88 , or they may need to be reprioritized. Mr. Long discussed the General Capital Budget financing for FY87-FY89. He pointed out that there is a significant increase in FY88 total requirements, which is primarily focused on the fire redeployment plan. He said that the council and Budget Committee will need to discuss whether to adopt the staff's recommendations of a serial levy to finance it, or whether to pursue other revenue options. He also explained that there are increased street projects in FY88-FY89. He said staff will continue to work on the user fee issue and he expects to have one-half to two-thirds of the $706,083 revenue identified in FY87. e Mr. Long explained that the $456,000 figure shown under FY87 to EWEB was a one-time Trojan-related refueling, which was a one-time expense above projections. He said this one-time revenue jump will not be repeated until there is another refueling event. Mr. Hansen asked what would happen if the Trojan Nuclear Plant closes. Mr. Long said that the City's $1.8 million revenues from Trojan would be affected. He also said that the City's revenue bonds that finance Trojan are City of Eugene bonds. He said that the City will meet with EWEB on August 11 to review that issue, and he will advise the council of the results of that meeting. City Councilors and staff reviewed the projects included in the CIP. Hult Center Mr. Holmer asked whether the Hult Center could be financed out of Tax Increment Funds. Mr. Hibschman said that the Hult Center is within the district, and that the City Attorney's office is researching this issue. In a previous budget discussion, Mr. Hansen said that there was $5,000 shown in the budget so that a sign could be studied for the Hult Center. He asked what happened to the $5,000. Hult Center Executive Director, Ed e Smith, said the Budget Commi ttee took it out of the budget. Budget Operations Manager, Tony Mounts, said that 1 ast fall when staff was e MINUTES--Eugene City Council August 6, 1986 Page 4