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Existing Activities <br />(pre-2010 Plan Amendment) <br />The Agency may complete urban renewal projects authorized prior to the 2010 Plan Amendment (for <br />example, the Beam Development project at Willamette and Broadway and downtown lighting) per section 600 <br />E of the Plan. The anticipated spending on existing activities was $234,593 to occur in FY10 from funds <br />available under the spending limit set in 1998. <br />The Agency also may continue to operate the Downtown Revitalization Loan Program. All dollars loaned must <br />come from program revenue in the loan fund and not from tax increment funds. <br />Expenditure Summary <br /> FY11 FY11 Authorized Amount <br />Budget Expenditures by Plan Remaining <br />Downtown Safety Initiative (Lighting) $100,000 $0 $100,000 $100,000 <br />Misc. Carry Forward $134,593 $0 $134,593 $134,593 <br />No funds were expended. Work began on the lighting project <br />report. In FY11, $134,593 was budgeted for capital projects that were authorized prior to the 2010 Plan <br />Amendment process. Spending of these dollars for additional capital projects not contemplated at the time of <br />the Plan Amendment is not allowed under the current Plan.(Additional detail is in Attachment 1 The Plan <br /> <br />Estimate and excerpts from the Annual Financial Report fiscal year ended June 30, 2011. Attachment 2 <br />contains a list of FY11 loan recipients and amounts.) <br />Funding Sources <br />No funds were spent on existing activities in FY11. <br /> <br /> <br /> <br />29 <br />