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EUGENE URBAN RENEWAL AGENCY AGENDA ITEM SUMMARY Public Hearing and Action: Resolution 1031 of the Urban Renewal Agency of the City of Eugene Adopting the Budget, Making Appropriations, and Declaring the Amount of Tax to be Received for the Fiscal Year Beginning July 1, 2004 and Ending June 30, 2005 Meeting Date: June 28, 2004 Agenda Item Number: 5 Department: Central Services Staff Contact: Kitty Murdoch www. cl. euget~e, or. us Contact Telephone Number: 682-5860 AGENDA ITEM SUMMARY The purpose of the public hearing is to receive citizen testimony on the Budget Committee's recommendation to the City Council regarding the FY05 Urban Renewal Agency Budget and gain approval of a resolution of the Urban Renewal Agency of the City of Eugene adopting the budget and making appropriations for the Fiscal Year beginning July 1, 2004 and ending June 30, 2005. BACKGROUND Council Action History On May 19, 2004, the Budget Committee recommended that the City Council, acting as the Urban Renewal Agency Board, adopt a FY05 Budget for the Eugene Urban Renewal Agency that consists of the City Manager's FY05 Proposed Budget amended to reflect funding for prior year capital projects. Policy Issues ORS 294.435 provides that after the public hearing "has been held, the governing body shall enact the proper ordinances or resolutions to adopt the budget, to make the appropriations, to determine, make and declare the ad valorem property tax amount or rate to be certified to the assessor for either the ensuing year or each of the years of the ensuing budget period and to itemize and categorize the ad valorem property tax amount or rate as provided in ORS 310.060." Council Goals The budget supports department work plans designed to meet Council Goals. Financial and/or Resource Considerations Financial and/or resource considerations are detailed in the FY05 Proposed Budget Document and Budget Committee Motions. A summary of the Budget Committee actions is provided in Attachment A. Other Background Information The FY05 Proposed Budget document, Budget Committee packets, information distributed at Budget Committee meetings, and Budget Committee motions are available on the City's website. L:\CMO\2004 Council Agendas\M040628\S0406285.doc