04/08/1981 Meeting - Laserfiche WebLink

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. Mr. Tashman replied that they were not contingent on the boundary expansion but on the mechanisms of the agency's tax allocations revenues. These revenues accrued to the agency by the County allocating that portion of the total property tax that would have gone to the City, the school districts, and the County from the increase in the assessed value in the renewal district since it was formed. The only portions of those revenues that are not pledged for repayment to the City are those portions previously obligated to ERA's and two outstanding bond issues for the Parcade and the conference center parking garage. Mr. Tashman explained that the documents to be presented April 15, 1981, will be without the hard numbers. They will request adoption in this form because of the non-emergency 30-day period which the ordinance must wait to take effect. On May 13, 1981, the council will accept or reject the bid to purchase the certificates submitted by E. F. Hutton. Ms. Wooten asked about the commitment to the Hilton Hotel. Mr. Tashman said that the conference center must be completed by March 2, 1982, according to those agreements. Ms. Wooten asked about the obligation to the Hilton Hotel to build the center. Mr. Gleason said it was two different acts. The first was the decision of the City to build the conference center and the second was to enter into an agreement with the Hilton Hotel. CB 2266--An ordinance authorizing execution of documents concerning the leasing and financing of the Eugene Conference Center. - Ms. Smith moved, seconded by Mr. Lindberg, that the bill be read the first time by council bill number only, with unanimous consent of the council. Roll call vote; motion carried unanimously. Ms. Smith moved, seconded by Mr. Lindberg, to rescind authorization to the staff to execute Section 3 of the amendment to the agreement passed on June 25, 1980. Motion carried unanimously. Ms. Wooten said she was very uncomfortable voting for the ordinance and she was putting all her faith in staff to make sure that the City was not running into difficulty by complicated and new processes which bypass consideration of the voters. Mr. Kaplan explained that next week they will bring the second reading of the ordinance to the council. On May 13, they will bring the offer to purchase the certificates to the council based on construction bid and interest rates. It is not until that time that anything is finally decided. The meeting was adjourned to April 13, 1981. e Respect~ ~. Gle on City Manager (Recorded by Beth Conant) BC:ce/CM23al MINUTES--Eugene City Council April 8, 1981 Page 17