11/18/1992 Meeting - Laserfiche WebLink

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e State Treasurer as no other jurisdiction has discussed this. Ms. Lynch asked if council wanted staff to spend time researching the issue. Mr. Rutan suggested that any effort in this regard be directed at the State Treasurer and to the Oregon Investment Council, not the legislature. He noted that one of the members of the Oregon Investment Council is a resident or Eugene. The council concurred. E. Real Estate Transfer Fee Ms. Lynch explained that the moratorium on local real estate transfer fees expires next year. The IGR Committee recommends allowing the moratorium to expire, making such a fee a local revenue-raising option. Mr. Nicholson expressed his opposition to continuing the support assessment for counties, saying it is a way of avoiding current tax constraints. He also is opposed to the use of the State fee to fund the Housing Trust Fund because the two are not properly connected. Several councilors supported the IGR Committee's recommendation, saying they favored local control. Mr. Robinette, however, felt the County should be reimbursed for the cost it incurs. Responding to a question from Mr. MacDonald, City Attorney Glenn Klein said that a favorable decision in two pending cases will enable the City to structure the fee in such a way that it would not be subject to the current e limits. Mr. Boles moved, seconded by Mr. Green, to take a position that says the council opposes extension of the real estate transfer tax for its current purpose; and further, that the council would like it returned to local control. The motion carried, 5:2; Ms. Bascom and Mr. Nicholson opposed. F. Use of Lottery Funds Ms. Lynch said that IGR is asking whether the council wishes to support other uses of lottery funds besides economic development. Mr. Green said he supports the use of lottery funds for education. Mr. Rutan favored a stricter definition of what economic development is, but will stand on the current definition. Mr. Boles moved, seconded by Mr. MacDonald, not to oppose changes to the definition of economic development in terms of expenditures to the Lottery Fund. The motion failed, 5:2; Mr. Boles and Mr. MacDonald voting in favor. e MINUTES--Eugene City Council November 18, 1992 Page 6 11:30 a.m.