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RiverfrontUrbanRenewalDistrictInformation <br />Thisattachmentincludessomefollowupinformationrequestedatthelastsubcommittee <br />meetingabouttheimpactsfromterminationoftheRiverfrontUrbanRenewalDistrict. <br />RiverfrontDistrictFinancialInformation <br />AttachedtothismaterialareexcerptsfromtheCity/URAFY12budget.Thesepagessetout <br />I.5),impactofthedistricton <br />informationonthebackgroundofthedistrictanditsgoals(page <br />theoverlappingtaxingdistricts(pageI.12)andthebudgetandactualexpenditures(pagesI.23 <br />toI.24). <br />Ascanbeseenontheoverlappingtaxingdistrictimpactstatement(pageI.12),thetotalreve <br />nueinthedistrictinFY11was$790,000,ofwhich$300,000camefromtheCityofƵŐĞŶĞ͛Ɛ <br />permanenttaxrate.Thisistheamount($300,000)thatwouldbeavailabletotheŝƚLJ͛ƐGeneral <br />Fundintheeventthatthedistrictwasterminated. <br />ThebudgetinformationonpageI.23setsouttheamountofbalanceavailable,whichisthe <br />amountthatcouldbeappropriatedforspendinginthedistrictonprojectsincludedintheplan. <br />TheamountforFY12is$4.8million.Ifthedistrictwereterminated,theCitywouldreceivea <br />portionofthatamount,andtherestwouldbedistributedtotheotheroverlappingtaxing <br />districts.TheamounttobedistributedwouldbebasedontheŝƚLJ͛Ɛshareoftheoverallincre <br />ment,whichisabout40%,sotheCitywouldreceiveapproximately$1.8millionfromdistrict <br />terminationonaonetimebasis. <br />ThebudgetinformationonpageI.23alsosetsouttheactualspendingforthepasttwofiscal <br />yearsinthedistrictonadministrativecosts.ForFY90andFY10,theamountwasapproximately <br />$180,000peryear,whichwassignificantlylessthantheamountsbudgetedinthoseyears.The <br />budgetforFY12is$250,000.TheĚŝƐƚƌŝĐƚ͛Ɛadministrativebudgetisusedtosupporttheproject <br />activitiesoccurringinthearea. <br />RiverfrontDistrictProjectActivities <br />TheRiverfrontUrbanRenewalDistrictsupportseffortstostrengthennaturalresourcesandto <br />stimulateappropriatedevelopmentfortheeastportionofdowntownandalongtheWillamette <br />RiverfromEWEBtoWalnutStation.Threesignificantrecenteffortshaveincludedthe <br />CourthouseDistrict,theEWEBriverfrontpropertyredevelopmentandmasterplanwork,and <br />theWalnutStationarea.ConceptsregardingthemillraceareincludedintheworkwithEWEB <br />andtheCourthouseDistrict.TheCourthouseGarden,locatedonUrbanRenewalAgency <br />ownedproperty,isapartofthisarea.Otherinitiativesarealsoinprocess,includingworking <br />withpropertyownersandinteresteddevelopersthroughouttheUrbanRenewalDistrictto <br />encouragedesireddevelopment.BasedontheRiverfrontUrbanRenewalPlan,developmentin <br />theDistrictisintendedtoplayacriticalroleintherevitalizationoftheentireregion,and <br />specificallytostrengthentheconnectionbetweendowntown,theriver,andtheUniversity. <br />