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<br /> <br />Capital Assets and Debt Administration <br /> <br />Capital assets. The City maintains all of its assets, including those of the Agency. The Agency’s investment in <br />capital assets for its governmental activities as of June 30, 2018 amounted to $3,446,650. <br /> <br />2018 2017 <br />Land and construction in process 3,446,650 691,297 <br />Improvements 0 20,401 <br /> Total capital assets $3,446,650 711,698 <br />Net of Accumulated Depreciation <br />Urban Renewal Agency's Capital Assets, <br /> Additional information on the Agency’s capital assets can be found in note (4)(C) of this report. <br /> <br />Next Year’s Budgets and Rates <br /> <br />For FY19, the following factors were taken into account when developing the urban renewal budgets: <br /> <br /> Property taxes in both the Downtown and Riverfront Districts were predicted to increase due to a <br />projected increase in the assessed value of properties in the districts. <br /> FY18 property tax collection rates were higher than normal due to additional property tax revenue <br />received as a result of the Comcast settlement. <br /> The property tax collection rate for both districts is estimated to be 94.5% in FY19. The FY18 collection <br />rate was 97.6% for both the Riverfront and Downtown Districts. <br /> <br />The Downtown District FY19 budget includes loan program management, project scoping for Park Blocks/Open <br />Spaces and LCC’s former downtown center, high speed fiber implementation, and general oversight. <br /> <br />The Riverfront District FY19 budget includes funding for the eastern portion of the railroad quiet zone, loan <br />program management, high speed fiber implementation, downtown riverfront redevelopment, and general <br />oversight. <br /> <br />Requests for Information <br /> <br />This financial report is designed to provide a general overview of the Agency’s finances for all those with an <br />interest in the Agency. Questions concerning any of the information provided in this report, or requests for <br />additional financial information, should be addressed to: <br /> <br />Fionan Cronin, CPA <br />Assistant Finance Director <br />City of Eugene <br />100 West 10th Avenue, Suite 400 <br />Eugene, Oregon 97401 <br /> <br /> <br />11 <br />December 10, 2018, Meeting - Item 3