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4. ACTION: Adoption of Resolution 1058 Acknowledging Receipt of the Annual Financial Report of the Urban Renewal Agency of the City of Eugene, Oregon, for the Fiscal Year Ending June 30, 2010 City Manager Jon Ruiz reported that the resolution acknowledged receipt of the Annual Financial Report for the agency and demonstrated the City's compliance with State law. Councilor Taylor, seconded by Councilor Brown, moved to adopt Resolution 1058 acknowledging receipt of the Annual Financial Report for the Urban Renewal Agency of the City of Eugene for the fiscal year ending June 30, 2010. Roll call vote: The motion passed unanimously, 7:0. Mayor Piercy adjourned the meeting of the Eugene Urban Renewal Agency and reconvened a meeting of the Eugene City Council. 5. WORK SESSION: 4J and Bethel Budget Shortfall City Manager Ruiz introduced the item. He acknowledged the financial shortfalls that the 4J and Bethel school districts faced and the community interest that had been expressed in finding funding solutions. Many had suggested the City could assist the districts by placing a new revenue measure for schools on the May 2011 ballot. He said that for such a measure to be placed on the ballot, staff would need council direction on February 14, 2011 Twylla Miller of the Central Services Department provided the staff report. She noted the suggestions for a restaurant or personal income tax to be placed on the May ballot, and said other taxing options were also analyzed in the agenda item summary provided to the council. She cautioned that the revenue estimates were based on older data and staff would work with an economist to refine the estimates if the council chose to move forward with one. Ms. Miller recommended that the council consider the current economic environment, Eugene funding priorities, and the plans of other jurisdictions when making its decision. County and State government faced shortfalls at a time of increased demand, and the City had unfunded priorities that included the General Fund shortfall, ambulance transport funding, and parks operation and maintenance funding. The stability of the revenue source and its ease of administration also needed to be considered. Ms. Miller said the City lacked a collection mechanism but it was possible it could piggyback on the State income tax collection mechanism. There were also timing issues to consider. She called attention to an election sequencing timeline included in the meeting packet and noted that the deadline for the May ballot was February 15. Ms. Miller reviewed a series of council decision points, including: 1. Should Eugene pursue a new revenue source at this time? 2. If so, which revenue source should be pursued? 3. What is the target amount of revenue generation from that source? 4. Should any City services be included in the revenue package? 5. Should the measure be placed on the ballot, or implemented under the City's home rule authority? MINUTES— Eugene City Council January 11, 2010 Page 6 Regular Meeting