Item 5: Adopt FY06 URA Budget - Laserfiche WebLink

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EUGENE URBAN RENEWAL AGENCY AGENDA ITEM SUMMARY Public Hearing And Action: Resolution 1035 of the Urban Renewal Agency of the City of Eugene Adopting the Budget, Making Appropriations, and Declaring the Amount of Tax to be Received for the Fiscal Year Beginning July 1, 2005 and Ending June 30, 2006 Meeting Date: June 13, 2005 Agenda Item Number: 5 Department: Central Services Staff Contact: Kitty Murdoch www. cl. eugene, or. us Contact Telephone Number: 682-5860 ISSUE STATEMENT Oregon Local Budget Law requires the Urban Renewal Agency of the City of Eugene to conduct a public hearing to receive testimony on the FY06 Urban Renewal Agency Annual Budget as recommended by the Budget Committee on May 18, 2005. Following the hearing, the governing body of the Urban Renewal Agency may deliberate and approve a resolution adopting the budget of the Urban Renewal Agency of the City of Eugene and make appropriations for the Fiscal Year beginning July 1, 2005 and ending June 30, 2006. BACKGROUND On May 18, 2005, the Budget Committee recommended that the City Council, acting as the Urban Renewal Agency Board, adopt a FY06 Budget for the Eugene Urban Renewal Agency that consists of the City Manager's FY06 Proposed Budget amended to reflect funding for prior year capital projects, and an intergovernmental payment of $62,500 to the City of Eugene for first year funding of one-half of the cost of the Cultural Services Comprehensive Plan. Policy Issues ORS 294.435 provides that after the public hearing "has been held, the governing body shall enact the proper ordinances or resolutions to adopt the budget, to make the appropriations, to determine, make and declare the ad valorem property tax amount or rate to be certified to the assessor for either the ensuing year or each of the years of the ensuing budget period and to itemize and categorize the ad valorem property tax amount or rate as provided in ORS 310.060." Council Goals The budget supports department work plans designed to meet Council Goals. Financial and/or Resource Considerations Financial and/or resources considerations are detailed in the FY06 Proposed Budget Document and Budget Committee Motions. A summary of the Budget Committee actions is provided in Attachment A. L:\CMO\2005 Council Agendas\M050613\S0506135.doc