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Provide funding (through interfund transfers) to the Downtown Capital Projects Fund for specific capital <br /> <br />improvements <br /> <br />URA Downtown Capital Projects Fund: This fund accounts for capital projects in the Downtown District. The <br /> <br />R <br />Downtown Debt Service Fund transfers resources to pay for specific, approved capital expenditures charged to <br />this fund. <br /> <br />URA-Downtown General Fund: This fund receives revenue from property sales and leases, interest on cash <br /> <br />R <br />balances and interfund transfers from the Downtown Debt Service Fund. These revenues are used to: <br />Rent costs <br /> <br />Pay other operating costs, including property management expenses <br /> <br />This fund also accounts for non-tax increment revenue and expense associated with the Downtown <br />Revitalization Loan Program (DRLP), which provides loans to property owners and businesses in the Plan Area. <br />Other Urban Renewal Oversight <br />Oversight starts with the City Council, who determines whether to create a district. <br />The Council, acting as the URA Board, oversees implementation of the urban renewal plan, and reviews and <br /> <br />R <br />approves projects and budgets. <br />Urban Renewal A <br /> <br />R <br />recommendation to the Council each year. <br />The Eugene Redevelopment Advisory Committee was created in 2003 to provide community member input on <br /> <br />R <br />the proposed plan amendments undertaken in 2004. The committee provides advice to the staff in preparing <br />urban renewal projects and plans. <br />The Loan Advisory Committee reviews all of the DRLP loan applications. <br /> <br />R <br />For the federal funds used for the Beam project, HUD has very specific requirements to be followed, and they <br /> <br />R <br />have auditors that look over the HUD funds. <br />Bond Counsel/investors review Urban Renewal Agency legal and financial records to ensure that any debt <br /> <br />R <br />issuance by the Agency is legal, valid and binding. <br /> <br />R <br />activities over several months to review the financial statements prepared by City financial reporting staff. The <br />result of the audit is that the auditor provides an opinion on the financial statements. The opinion states <br />whether the financial report is presented fairly, in all material respects, in conformance with generally accepted <br />accounting principles. <br />URA <br />Board <br />External <br />Budget <br />Auditor <br />Com. <br />Dept. <br />Downtown <br />Advisory <br />Investors <br />Urban <br />Com. <br />Renewal <br />(ERAC) <br />Federal Loan <br />Advisory <br />(HUD) Com. <br />ERP <br />3 <br />