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To the motion to adopt the resolution, the motion carried unanimously, 8:0. <br /> <br />B. HYNIX <br /> <br />City Manager Jim Johnson reported that on Monday, June 25, the City Council voted 7:1 to deny a tax <br />exemption extension proposal from Hynix. Since that meeting, there have been additional discussions and the <br />Board of County Commissioners unanimously denied a similar request, although there was further discussion <br />that the matter may be reconsidered by the Board of County Commissioners. Mr. Johnson said that there was <br />a potential compromise which would keep the City whole and provide additional dollars to the school districts, <br />which may require a special meeting. The Board of County Commissioners has requested that the City <br />Council take action first, which may necessitate a special meeting of the City Council tomorrow afternoon or <br />tomorrow evening. He noted the requirement for 24-hour public notice. <br /> <br />Mayor Torrey asked if finve councilors would be able to attend a special meeting of the City Council if it was <br />necessary. Mr. Pap6 said he could not attend. Ms. Taylor said that she objected to scheduling a meeting <br />without having all the City Councilors available. Mayor Torrey noted that the there was a deadline to have a <br />decision by June 30 and the County commission must take action to concur with the City. <br /> <br />Mr. Pap~ asked if a motion to reconsider the vote would move the process forward. Mr. Johnson noted that if <br />there was agreement to hold a special meeting, the motion to reconsider was unnecessary. Mr. Klein added <br />that the issue would not be to reconsider the motion before the City Council on June 25, but a new proposal <br />would be brought forward for consideration. <br /> <br />Those who said they could participate included Mr. Farr, Mr. Meisner, Mr. Kelly, Mr. Rayor, and Ms. <br />Bettman. Ms. Taylor said she was uncertain if she could attend. Ms. Nathanson was away from the table and <br />did not indicate her availability. After 4:30, Mr. Pap~ said that he could be available via telephone. Mayor <br />Torrey reported that there would be a meeting at 3 p.m. today with representatives from Hynix which would <br />determine the necessity for a special meeting. <br /> <br />C. Work Session: PeaceHealth Negotiations - Financial Options <br /> <br />Assistant City Manager Jim Carlson reviewed preliminary financial information that was provided for council <br />consideration, including two large wall-mounted charts. He noted that the material was put together since last <br />Monday, which had not allowed staff to complete the analysis of estimates of yield for alternative non- <br />property tax revenue sources, requiring preliminary information to be shared. He noted that PeaceHealth had <br />asked that the City contribute $25 million to $35 million, including own-source revenue. Four reasonably <br />related mechanisms have been highlighted, including: 1) the vacation of some City owned right-of-way within <br />the six-block designated area, 2) potential waiver of system development charges (SDCs), which would require <br />an ordinance change by the City Council, 3) the use of City revenues to fund infrastructure improvements for <br />the site, and 4) the dedication of some parking fee revenues, generated by the new parking structures which <br />would be available for capital payments on revenue bonds. It was estimated that these four sources could <br />generate approximately $7.6 million (current value), which would require new revenue sources for the <br />remaining balance. Mr. Carlson noted that Attachment A provided information on different levels of general <br />obligation (GO) bond debt. <br /> <br />MINUTES--Eugene City Council June 27, 2001 Page 2 <br /> Work Session <br /> <br /> <br />