Ordinance No. 20120 - Laserfiche WebLink

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hearing; the proposed maximum amount of indebtedness for the Plan; and the three options to collect such ad valorem taxes. The Agency recommended that Option One be chosen as the collection option, and that the maximum indebtedness amount be established based on the highest estimated cost of a new library, As noted in paragraph D, maximum indebtedness would be established at $3 3,000,000 which does not include payment of interest on that debt or repayment of the outstanding indebtedness. F. On April 27, 1998, the Eugene Planning Commission considered this proposed amendment to the Urban Renewal Plan, G. The Agency met with the Lane County Board of Commissioners on May 13,1998 to discuss this proposed amendment to the Urban Renewal Plan, including the Agency's recommendation of Option One as well as the proposed maximum amount of indebtedness. The County Board voted unanimously to support the Agency's proposal, H. The Agency forwarded the draft urban renewal plan amendment to each taxing district affected by the urban renewal plan. None of the taxing districts expressed any opposition to the urban renewal plan amendment. I. On May 26, 1998, the City Council held a public hearing on this proposed amendment to the Urban Renewal Plan. J. As indicated in findings F, G and H above, the City has complied with the requirements of ORS 457.0854} and ~5}. K. The Council finds that this Plan amendment does not add any projects to the Plan's activities; instead, it only establishes a maximum amount of indebtedness to be incurred under the Plan to complete a project already in the Plan, and chooses a financing option. For the reasons discussed in paragraph D above, the only additional project to be undertaken with urban renewal funds is a new library, which already is included in Section 600 of the Plan. Because this amendment does not add any new pro j ects, the Plan remains consistent with the comprehensive plan. The Plan and its accompanying report identify how the urban renewal area is blighted; why rehabilitation and redevelopment is necessary to protect the public health, safety or welfare of the municipality; and provisions addressing housing of displaced persons within their f nancial means. The Council further finds that adoption and carrying out of the proposed amendment is economically sound and feasible, and the City will assume and complete any activities prescribed it by the proposed amendment as required by ORS 457.0956} and ~7}. L. The process outlined above is the same process used in the original adoption of the Plan in 1968 and adoption of the amended Pion in 1989. M. The Council finds that the Agency complied with the requirements of ORS 457.437 based on the findings contained in paragraph G, above. NSW, THEREFORE, Ordinance - 2