Laserfiche WebLink
Urban Renewal Agency's Capital Assets, <br />Net of Accumulated Depreciation <br />20102009 <br />Land$2,215,4592,215,459 <br />Construction in roress053,189 <br />pg <br />Imrovements other than buildins1,513,9031,612,044 <br />pg <br />Infrastructure1,271,5841,377,412 <br /> Total capital assets <br />$5,000,9465,258,104 <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 FY11, the following factors were taken into account when developing the urban renewal budgets: <br />Property taxes are predicted to increase in the downtown district in FY11 due to a small increase in <br />incremental value and expiration of the Multi-Unit Property Tax Exemption for the Broadway Place <br />apartments. 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 FY11. The FY10 actual was <br />approximately 97% for both current and delinquent taxes. <br />The Downtown District will continue to implement redevelopment of two properties in FY11. The budget includes <br />a construction loan to Beam Development for renovating the Centre Court building, as well as a contribution to <br />th <br />the Lane Community College Downtown Campus at the 10 & Charnelton site. The budget also includes two <br />other projects from the 2010 plan amendment – Farmers’ Market improvements and Broadway Place garages <br />and public safety improvements. <br />There are no new projects planned in the Riverfront District for FY11, although planning continues for the EWEB <br />property. <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 />Assistant Finance Director <br />City of Eugene <br />th <br /> Avenue, Suite 400 <br />100 West 10 <br />Eugene, Oregon 97401 <br /> <br />