Item 4-Ord.on Urban Renewal Pln - Laserfiche WebLink

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construction of new buildings, pre-development assistance, connecting to Agency- provided underground electrical and communication systems, or other activities approved by the Agency. I. OWNER PARTICIPATION It is the intent of the Renewal Agency to provide Iow-interest loans to assist development and redevelopment of private property in the district. Property owners within the plan area proposing to improve their properties and receiving financial assistance from the Agency shall do so in accordance with all applicable provisions of this plan and with all applicable codes, ordinances, policies, plans, and procedures of the City of Eugene. Section 700 - Methods for Financing the Projects The Agency may borrow money and accept advances, loans, grants, and other legal forms of financial assistance from the Federal government, the State, City, County, or other public body, or from any source, public or private, for the purposes of undertaking and carrying out this development plan, or may otherwise obtain financing as authorized by ORS Chapter 457. Ad valorem taxes, if any, levied by a taxing body upon the taxable real and personal property situated in the urban renewal area, shall be divided in accord with and pursuant to ORS 457.420 through 457.450. The Agency shall adopt and use a fiscal year ending June 30 accounting period. Each year the agency shall develop a budget in conformance with the provisions of ORS Chapter 294 and ORS 457.4(50 which shall describe sources of revenue, proposed expenditures, and activities. The Urban Renewal Agency Board of Directors must approve all projects, other than loans, in excess of $250,000. Section 800- Annual Financial Statement Required A. By August 1 of each year, a financial statement shall be prepared and provide information containing: 1. Amounts of money received during the preceding fiscal year under ORS 457.420 to 457.460 and from indebtedness incurred under ORS 457.420 to ORS 457.460; DRAFTAMENDMENTS- Urban Renewal Plan For - 12 - Central Eugene