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Item 4: Resolution on Receipt of the FY09 Annual Financial Report
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Item 4: Resolution on Receipt of the FY09 Annual Financial Report
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1/11/2010
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Urban Renewal Agency’s Capital Assets <br />Net of Accumulated Depreciation <br />20092008 <br />Land $ 2,215,4591,908,026 <br />Construction in progress 53,189 1,857,468 <br />Improvements other than buildings 1,612,044 1,773,850 <br />Infrastructure1,377,4121,118,844 <br /> $ 5,258,1046,658,188 <br /> <br />Additional information on the Agency’s capital assets can be found in note (4)(C) of this report. <br />Next Year’s Budgets and Rates <br />For FY10, the following factors were taken into account when developing the urban renewal budgets: <br />Property taxes are predicted to decrease slightly in the downtown district in FY10 due to the soft <br />economy. Property taxes in the Riverfront District are budgeted to increase slightly due to a higher tax <br />rate applied for the division of tax calculation. <br /> The property tax collection rate for both districts is estimated to be 94% in FY10. The FY09 actual was <br />approximately 98% for both current and delinquent taxes. <br />The Downtown District will continue to implement redevelopment of two properties in FY10. The budget includes <br />a construction loan to Beam Development for renovating the Centre Court building. <br />There are no new projects planned in the Riverfront District for FY10. <br />Requests for Information <br />This financial report is designed to provide a general overview of the Agency’s finances for all those with an <br />interest in the Agency. Questions concerning any of the information provided in this report, or requests for <br />additional financial information, should be addressed to: <br />Fionan Cronin, CPA <br />Financial Reporting Manager <br />City of Eugene <br />th <br /> Avenue, Suite 400 <br />100 West 10 <br />Eugene, Oregon 97401 <br />
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