Item A: Downtown Development Financial Tools

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Property Tax History The five-year history of property tax revenues in the Downtown District is included in the chart below. The amount of property tax collections is affected by three factors: changes in assessed value in the district, changes in the overlapping tax rates for all jurisdictions, and the percentage of property taxpayers that pay their tax bills on time. For FY08, property tax revenues are estimated to increase. Downtown District Property Taxes $6,000,000 $4,000,000 $2,000,000 $0 FY03FY04FY05FY06FY07FY08 est. $1,921,247 $1,796,899 $2,098,339 $1,973,183 $1,936,781 $1,995,999 Special Levy $2,433,836 $2,032,741 $2,307,598 $1,833,638 $1,842,543 $1,885,000 Division of Tax Note: The chart shows gross property taxes, prior to taking into account discounts, delinquencies and adjustments. Actual revenue received by the Downtown District is net of these factors. Urban Renewal Tax Rates The tax bills for Eugene taxpayersinclude three line items for urban renewal. All taxpayers in the City pay these taxes. There is no difference between the taxes paid by taxpayers inside the district and outside the district.The three tax lines are: City of Eugene Special Levy is the special levy for the library project in the Downtown District (this special levy will be discontinued by FY10) Eugene Urban Renewal Downtown is the division of tax funding for the Downtown District Eugene Urban Renewal Riverfront is the division of tax funding for the Riverfront District Beginning in FY03, urban renewal tax rates are shown as line items on tax bills. When tax rates and tax bills for years prior to FY03 are compared to current urban renewal tax rates and tax bills, it appears as though a large increase occurred in urban renewal taxes in FY03, but that is not, in fact, what happened. In FY03, although urban renewal tax rates shown on the tax bill increased significantly, the tax rates for the other overlapping taxing jurisdictions were decreased by a like amount. A five-year history of the urban renewal tax rates and the tax bill for the median home in Eugene is shown in the following chart. The chart also sets out estimates for the FY08 tax rates and tax bill.