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<br />incur a possible financial obligation under this financing structure. When the council considers a <br />specific financing resolution for a future project, waiver of any appropriate debt policies would be part <br />of that approval process. The waiver is not necessary at this time. <br /> <br /> <br />COUNCIL OPTIONS <br /> <br />This ordinance is designed to have the council go through the ordinance process to authorize the use of <br />Section 108 as a redevelopment tool, but the ordinance does not authorize specific projects. Specific <br />projects would be authorized at a later date through a resolution process. As an alternative, the council <br />could choose to go through the ordinance process each time a project was identified for Section 108 <br />funding. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br /> <br />The City Manager recommends adoption of the ordinance. <br /> <br /> <br />SUGGESTED MOTION <br /> <br />Move to adopt an ordinance authorizing HUD Section 108 revenue bonds. <br /> <br /> <br />ATTACHMENTS <br /> <br />A. Ordinance <br /> <br /> <br />FOR MORE INFORMATION <br /> <br />URBA Contact: Sue Cutsogeorge, Financial Analysis Manager <br />Telephone: 682-5589 <br />Staff E-Mail: Sue.L.Cutsogeorge@ci.eugene.or.us <br /> <br />HUD Contact: Denny Braud, Senior Development Analyst <br />Telephone: 682-5536 <br />Staff E-Mail: Denny.Braud@ci.eugene.or.us <br /> <br /> <br /> L:\CMO\2007 Council Agendas\M070226\S0702267.doc <br />