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Project Delivery Administration
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<br />Actions for this activity include program administration (project management, financial services, Downtown
<br />Revitalization Loan Program administration, debt issuance and administration); legal services; reporting
<br />(budgets, financials); preparation of market, feasibility, or other economic studies; preparation of design,
<br />architectural, engineering, landscaping architectural, planning, development, or other developmental studies;
<br />providing accounting or audit services; providing special rehabilitation, restoration, or renovation feasibility
<br />and cost analysis studies; assisting in preparation of the annual financial report required under Section 800 of
<br />the Plan; providing property acquisition appraisals; and evaluation of the plan and the success of its activities.
<br />Many of the activities are provided through an intergovernmental contract between the City of Eugene and
<br />the Agency. The Agency may also acquire, rent, or lease office space and office furniture, equipment, and
<br />facilities necessary for it to conduct its affairs in the management and implementation of the Plan. (See
<br />Attachment 1 for excerpts from the Plan and Report related to this project.)
<br />Expenditure Summary
<br /> FY11 FY11 FY10 Authorized Amount
<br />Budget Expenditures Expenditures by Plan Remaining
<br />Authorized Under 1998
<br />$530,000 $251,541 $472,044 $860,000 $136,415
<br />Plan Amendment
<br />Authorized under 2010
<br />$150,000 $27,851 n/a $1,190,000 $1,162,149
<br />Plan Amendment
<br />Totals $680,000 $279,392 $472,044 $2,050,000 $1,298,564
<br />When the Plan was amended in 2010, there was some authorization remaining under the spending limit set in
<br />1998. In the Plan Estimate, the amounts for project delivery administration to be counted against the 1998
<br />spending limit were noted. Actual expenditures against that amount in FY10 were $472,044 and in FY11 were
<br />$251,541. In FY11, expenditures were split between personnel ($155,062), legal ($43,553) and
<br />materials/supplies ($52,926). After the FY11 expenditures, $136,415 remains under the 1998 limit that can be
<br />spent in future years.
<br />The 2010 Plan amendment authorized an additional $1,190,000 for project delivery administration. In FY11,
<br />$27,851 was spent under this authorization for bond issuance costs, which was less than the budgeted
<br />amount because of the type of bonds issued (private vs. public and taxable vs. tax-exempt). Debt issuance
<br />costs include bond counsel, financial advisor, and origination and bank legal fees.
<br />The budgeted project delivery administration spending for FY11 was $530,000. Due to the timing of the
<br />budget process versus the schedule for the Beam loan, the unspent legal costs of $200,000 from FY10 were
<br />rebudgeted in FY11 to ensure that there was adequate spending authority if needed to complete the legal
<br />work for the loan. Actual legal costs were less than budgeted in both FY10 and FY11. (Additional detail is in
<br />Attachment 2 The Plan Estimate and excerpts from the Annual Financial Report fiscal year ended June 30,
<br />2011.)
<br />Funding Sources: Urban renewal funds were the only source.
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