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added that the interfund loan would take from the Road Capital Fund and the Stormwater Fund, which were both in need of funding. Mr. Pap6 remarked that the council should have been "brought into the loop earlier" due to the amount of money involved. In response to a question from Mr. Pap6, Mr. Taylor assured him that the approval of the financing plan and the adoption of the supplemental budget would guarantee the way the interfund loans would be made and that they would be repaid from the $160,000 in annualized revenues. He stressed this was one-time money used as an investment to complete the land assemblage for the Roosevelt Master Plan. Mr. Pap6 said he would support the motion because, should the property prove to be unneeded, it could be turned over at a profit. Mr. Poling agreed that staff should have brought the council into this property purchase earlier. He echoed Mr. Meisner's comment that the property should remain rented until the City was "ready to turn dirt." Mr. Poling felt the County was not likely to share the property as it seemed to be moving out more toward the periphery of the City. He supported the motion. Ms. Bettman inquired as to whether the property was contaminated. She felt she could not support the financing or the acquisition. She remarked that this was a demonstration of fiscal discipline and that, as the purchase was not a city-wide priority, she would do as staff often urged the council to do and exercise this discipline. She repeated her concern regarding the size of the property and her assertion that data projecting a staff increase of 40 people was highly unlikely to due to fiscal constraints and the commitment by the manager to no service additions. Ms. Solomon informed the council that an environmental report had been published on the site and it was determined to be clean. Mr. Taylor corroborated this. Ms. Solomon supported the motion. She opined the City should not own too much property, however. She asked how much property the City currently owned and if excess property was being sold. Mr. Carlson responded, stating the City had been successful in selling such properties, having recently sold three fire stations, the parking lot across from the library, and a large portion of City-owned land in the Danebo area. Ms. Taylor called it "misplaced priorities and land speculation." She opined there was too much money at stake and continued rent income was not a certainty. Mr. Meisner reiterated that he regarded it as an investment. He expected the City to make the property a revenue-producer. He concurred with Ms. Bettman that it was more land than needed and suggested the City sell a portion of it. Ms. Nathanson said it was an investment and "an important way of avoiding potential cost in the future." Mayor Torrey called for the vote. The motion passed, 5:3 (Mr. Kelly, Ms. Bettman, and Ms. Taylor voting in opposition). MINUTES--Eugene City Council February 11, 2004 Page 8 Work Session