11/18/1992 Meeting - Laserfiche WebLink

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e Mr. Boles moved, seconded by Mr. Green, to instruct the City Manager to continue the feasibility analysis of a housing revenue bond (conduit financing) that is either investment-grade or sold by private placement to a sophisticated investor, subject to $15,000 in costs to be obtained from General Fund Contingency. Roll call vote. The motion carried unanimously, 7:0. Mr. Rutan asked that the feasibility analysis include other options. Mr. Boles moved, seconded by Mr. Green, to approve the use of contingency funds to cover development fees for Foxwood ($40,000) and Willakenzie ($25,000) (Orchards). Roll call vote. The motion carried, 6:1; Mr. Boles opposed. Mr. Boles moved, seconded by Mr. Green, to approve the allocation of $18,082.36 from contingency to cover the costs of development charges for the Relief Nursery. Roll call vote. The motion carried, 6:1; Mr. Boles opposed. Several councilors expressed concern with the process by which these actions have been taken. Mr. Boles urged the Housing Policy Board to develop a policy for the development of affordable housing with relation to development fees. Mr. Boles moved, seconded by Mr. Green, to approve a proposed policy for covering development charges associated with low-income housing. Roll call vote. e Several councilors felt the issue should be dealt with in a broader context. Mr. Boles was opposed to including this policy item with other very specific issues. The motion failed, 0:7; the entire council opposed. Mr. Boles moved, seconded by Mr. Nicholson, to allow systems development charges (SDCs) on the Foxwood project to be deferred for two or three years, with the interest rate set at the internal cost of the fund. Mr. Boles wondered what the implication was for the policy already in place which states that SDC fees will be paid at the time of development. Mr. Robinette said that the implication is that staff will propose a policy that will answer the question. The motion carried, 6:1; Mr. Boles opposed. The meeting adjourned at 2:05 p.m. e MINUTES--Eugene City Council November 18, 1992 Page 9 11:30 a.m.