11/08/1989 Meeting - Laserfiche WebLink

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. e Mr. Holmer also noted that the tax rate growth, which is estimated at 3.5 percent, should be estimated at 0 percent. Mr. Farkas noted that estimation at 3.5 percent was an attempt at reflecting a long-term average but with a limit over time based on assessed valuation. The council offered its general consent to change the estimated tax collection rate to 100 percent and to change the estimated tax rate growth to reflect a 0 percent rate of growth. Staff indicated that these adjustments in assumptions would counteract each other and not be that significant of a change. Referring to Section 600 of the Urban Renewal Report, which begins with the statement "in order to achieve the objectives of the activities of the plan, the following activities will be undertaken on behalf of the City of Eugene," Mr. Holmer suggested that the word "will" should be changed to "may." The council agreed to make this change. Also referring to Section 600, Mr. Holmer felt that the word "libraries" in A. 2. b., and the phrase "mass transit stations" in A. 2. g. should be deleted in order to be grammatically consistent. The council did not appear to support this change. Referring to Section 1300 A., Mr. Holmer suggested that the council be given the authority to direct closure of the Urban Renewal Plan at anytime by adding the language "unless terminated in accord with ORS 457.075." e Mr. Rutan said that the council's authority to terminate projects is implicit in the plan, and was not interested in pursuing this issue. Mr. Bennett supported Mr. Rutan's position. Mr. Boles indicated that information from the public hearing reflected a reluctance on the part of the community to extend the plan to 20 years. He said that the number of potential projects outlined for the next 20 years is too large and the time period is too long. Ms. Schue inquired about the effect that shortening the plan would have on bonding capacity. Mr. Farkas responded that shortening the plan would have no impact on bonding capacity. Mr. Gleason added that it is possible to implement a mandated review process for projects laid out in the plan, at which time the agency would have the ability to exact completion and closure of projects. Responding to a question from Mr. Boles, Mr. Hibschman said that in approximately year 15 under the model, the Urban Renewal Agency would be at a point to be financially solvent. Mr. Bennett moved, seconded by Ms. Schue to require a mandatory review of the Urban Renewal Plan at 10 years andt if the plan is still operating, a mandatory review at 15 years. e MINUTES--Eugene City Council November 8, 1989 Page 5