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the Agency Board with community member participation identified in Section 900 of the Plan and each year during the annual budget process. Completion dates for individual activities may be affected by changes in the plans of other private or public partners, local economic and market conditions, changes in the availability of tax increment funds, and changes in priorities for carrying out project activities. Current projections show that the tax increment revenues should be sufficient to pay for the projects and associated debt by FY25. The Downtown District will cease collecting tax increment funds once there are sufficient tax increment funds available to repay all debt issued or obligations created to fund the Projects. Chapter8:FinancialAnalysisofthePlanwithSufficient InformationtoDetermineFeasibility The financial analysis of the plan shown in Table 7 in Exhibit E includes the anticipated tax increment revenues over the projected remaining life of the Plan. The analysis shows that the anticipated tax increment revenues are based on reasonable projections of new development and appreciation in existing property values. The projection of tax increment revenues is based on the following assumptions: Property assessed values will increase by 3% per year, which includes increases on existing property as well as a small amount of new investment in existing downtown area properties. No significant, new taxable development is anticipated during the next several years. Tax rates applicable to the Downtown District are projected to go down over time, due to the Oregon statute that says that certain urban renewal plans may only collect tax increment on permanent tax rates or bonds and levies approved by voters prior to October 6, 2001. In particular, bonded debt tax rates applicable to the Downtown District will be reduced as bonds approved by voters prior to October 6, 2001 are retired. The projections result in urban renewal tax revenues between FY17 and FY25 of approximately $23 million. Together with other revenues and existing fund balances, these revenues will support the $19.4 million of maximum indebtedness plus the interest on the debt to fund the Projects. In addition to the redevelopment projects, the revenues will be sufficient to pay for other obligations, such as project delivery and administrative activities, including an allocation of overhead costs. Those costs are projected to increase over time due to inflation and higher retirement costs at a rate of about 5% per year. The Agency will also carry a balance equal to two months of operating costs each year, per City of Eugene financial policy and a debt service reserve account, if required by lenders. ReportontheProposed2020Amendment 18