HomeMy WebLinkAboutItem 5: PH and Action - FY09 URA Budget
EURA
UGENE RBAN ENEWAL GENCY
AIS
GENDA TEM UMMARY
Public Hearing and Action: Resolution 1048 of the Urban Renewal Agency of the City of
Eugene Adopting the Budget, Making Appropriations, and Declaring the Amount of Tax
to be Certified for the Fiscal Year Beginning July 1, 2008, and Ending June 30, 2009
Meeting Date: June 9, 2008 Agenda Item Number: 5
Department: Central Services Staff Contact: Kitty Murdoch
www.eugene-or.gov Contact Telephone Number: 682-5860
ISSUE STATEMENT
Oregon Local Budget Law requires the Urban Renewal Agency of the City of Eugene to conduct a
public hearing to receive testimony on the FY09 Urban Renewal Agency Annual Budget as
recommended by the Budget Committee on May 28, 2008. Following the hearing, the governing body
of the Urban Renewal Agency may deliberate and approve a resolution adopting the budget of the Urban
Renewal Agency of the City of Eugene and make appropriations for the Fiscal Year beginning July 1,
2008 and ending June 30, 2009.
BACKGROUND
On May 28, 2008, the Budget Committee recommended that the City Council, acting as the Eugene
Urban Renewal Agency Board of Directors, adopt a FY09 Budget for the Eugene Urban Renewal
Agency that consists of the City Manager’s FY09 Proposed Budget with several changes.
Policy Issues
ORS 294.435 provides that after the public hearing “has been held, the governing body shall enact the
proper ordinances or resolutions to adopt the budget, to make the appropriations, to determine, make and
declare the ad valorem property tax amount or rate to be certified to the assessor for either the ensuing
year or each of the years of the ensuing budget period and to itemize and categorize the ad valorem
property tax amount or rate as provided in ORS 310.060.”
Council Goals
The budget supports department work plans designed to meet Council Goals and Priorities.
Financial and/or Resource Considerations
Financial and/or resources considerations are detailed in the FY09 Proposed Budget Document and
Budget Committee Motions. A summary of the Budget Committee actions is provided in Attachment A.
Budget Committee Recommendation
Budget Committee review consisted of seven work sessions and one public hearing on the City of
Eugene and the Urban Renewal Agency budgets. Public comment was received at three of the work
sessions and a separate public hearing on the budget proposal was conducted on May 19, 2008.
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The Budget Committee recommendation was moved by Mr. Barofsky and seconded by Ms. Syrett. It
was unanimously approved on May 28, 2008:
Move that the Budget Committee recommend to the Eugene City Council, acting as the Urban
Renewal Agency Board of Directors, a FY09 Budget for the Eugene Urban Renewal Agency that
consists of the City Managers FY09 Proposed Budget, including the property tax levies and/or
=
rates contained therein, amended to reflect appropriations for prior year encumbrances and prior
year capital projects, and the following amendments approved by motion.
The Budget Committee amended the City Manager’s Proposed Budget with the following motion:
“Amend the FY09 proposed budgets for the City of Eugene and the Urban Renewal Agency to
include additional financial transactions required to carry out the purchase and sale agreement for the
Beam project approved by the Urban Renewal Agency on May 21, 2008.”
The Beam project transactions recognize $5,347,000 from HUD 108 loan resources and $1,353,000 in
BEDI Grant resources received from the City of Eugene in the URA Downtown General Fund and
appropriates $6.5 million for Capital Development Loans and $200,000 for legal and administrative
costs. The motion also includes moving $65,000 from Balance Available in the Downtown Debt
Service Fund and using the funds for an intergovernmental payment to the City of Eugene for bank
service fees related to the project.
Timing
Under the State Statute, a budget must be approved prior to July 1, 2008 and a copy of the adopting
resolution filed with the County Assessor by July 31, 2008.
Other Background Information
The FY09 Proposed Budget document, Budget Committee packets, information distributed at Budget
Committee meetings, and Budget Committee motions are available on the City’s website.
COUNCIL OPTIONS
According to ORS 294.435, the Urban Renewal Agency’s governing body is limited to increasing
expenditures in a fund by no more than $5,000 or 10 percent, whichever is greater, of the Budget
Committee approved total in each or any fund. If a larger expenditure increase is desired, republishing
the budget and conducting a second public hearing is required. The Agency Board of Directors may
reduce revenues, move allocations within a fund and decrease expenditures; however all actions must
result in a balanced budget, where revenues equal expenditures, for each fund. Any increase to property
taxes above the rate or amount approved by the Budget Committee requires republishing the budget
summary and conducting a second public hearing.
If a director makes a motion to amend the budget resolutions, the motion must contain the specific
appropriation line(s) being altered in the resolution and each motion must be self-balancing, meaning
that a resource and a requirement must exactly offset each other.
CITY MANAGER’S RECOMMENDATION
The City Manager recommends adoption of the FY09 Urban Renewal Agency Budget as recommended
by the Budget Committee.
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SUGGESTED MOTION
Move to adopt Resolution 1048 of the Urban Renewal Agency of the City of Eugene adopting the
budget and making appropriations for the fiscal year beginning July 1, 2008, and ending June 30, 2009.
ATTACHMENTS
A. Summary of Budget Committee Changes to the Executive Budget Recommendation
B. Resolution Adopting the FY09 Urban Renewal Agency Budget
FOR MORE INFORMATION
Staff Contact: Kitty Murdoch
Telephone: 682-5860
Staff E-Mail: kitty.m.murdoch@ci.eugene.or.us
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Summary of Changes to the FY09 Executive Budget Recommendation
Urban Renewal Agency
FY09<----- Budget Committee Actions ----->
ProposedBudget Comm.
Misc.Capital
Fund / DepartmentBudgetRecommend.
ActionsCarryover
A.Downtown General Fund
1.Planning and Development332,000200,0000532,000
2.Miscellaneous Fiscal Transactions2,309,7836,500,00008,809,783
3.Balance Available50,0000050,000
Total2,691,7836,700,00009,391,783
B.Downtown Debt Service Fund
1.Interfund Transfers332,00000332,000
2.Intergovernmental Expenditures2,372,50065,00002,437,500
3.Reserve2,500,000002,500,000
4.Balance Available2,536,244(65,000)02,471,244
Total7,740,744007,740,744
C.Downtown Capital Projects Fund
1.Capital Projects004,901,7914,901,791
2.Balance Available28,0000028,000
Total28,00004,901,7914,929,791
D.Riverfront General Fund
1.Planning and Development342,00000342,000
2.Balance Available2,342,782002,342,782
Total2,684,782002,684,782
E.Riverfront Debt Service Fund
Total0000
F.Riverfront Capital Projects Fund
1.Capital Projects00219,418219,418
2.Balance Available13,0000013,000
Total13,0000219,418232,418
TOTAL URA BUDGET 13,158,3096,700,0005,121,20924,979,518
ATTACHMENT B
RESOLUTION NO. ____
A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE
CITY OF EUGENE ADOPTING THE BUDGET, MAKING
APPROPRIATIONS, AND DECLARING THE AMOUNT OF TAX TO BE
RECEIVED FOR THE FISCAL YEAR BEGINNING
JULY 1, 2008 AND ENDING JUNE 30, 2009.
The Urban Renewal Agency of the City of Eugene finds that adopting the budget and making
appropriations is necessary under ORS 294.305 to ORS 294.565.
NOW, THEREFORE,
BE IT RESOLVED by the Urban Renewal Agency of the City of Eugene, as follows:
Section 1. The budget for the Urban Renewal Agency of the City of Eugene for the Fiscal Year
beginning July 1, 2008 set forth in attached Exhibit "A" is hereby adopted.
Section 2. The amounts for the Fiscal Year beginning July 1, 2008 and for the purposes shown in
the attached Exhibit "A" are hereby appropriated.
Section 3. That the following be certified to the County Assessor of Lane County, Oregon:
The Downtown Plan Area is an Option One plan that shall receive the maximum amount of
revenue that may be raised by dividing the taxes under section 1c, Article IX, of the Oregon
Constitution.
The Riverfront Plan Area shall receive the maximum amount of revenue that may be raised
by dividing the taxes under section 1c, Article IX, of the Oregon Constitution. This plan shall
be certified under the “Window Plan” section of the certification form.
Section 4. That the City Recorder is hereby requested to certify the levies as herein made and set
forth to the County Assessor of Lane County, Oregon, and shall file with the County Assessor a
copy of the budget as finally adopted, and such other documents as required by ORS 294.555(3).
Section 5. The list of fund numbers and fund titles set forth in attached Exhibit "B" is hereby
adopted, and any fund numbers or fund titles in conflict herewith are hereby repealed.
The foregoing Resolution adopted this 9th day of June, 2008.
Director
EXHIBIT A
Urban Renewal Agency
Downtown General Fund$$$
Department Operating
Planning and Development532,000
Total Department Operating
532,000
Non-Departmental
Miscellaneous Fiscal Transactions8,809,783
Balance Available50,000
Total Non-Departmental
8,859,783
Total Downtown General Fund9,391,78
3
Downtown Debt Service Fund
Non-Departmental
Interfund Transfers332,000
Intergovernmental Expenditures2,437,500
Reserve2,500,000
Balance Available2,471,244
Total Non-Departmental
7,740,744
Total Downtown Debt Service Fund7,740,74
4
Downtown Capital Projects Fund
Total Capital Projects
4,901,791
Non-Departmental
Balance Available28,000
Total Non-Departmental
28,000
Total Downtown Capital Projects Fund4,929,791
Riverfront General Fund
Department Operating
Planning and Development342,000
Total Department Operating
342,000
Non-Departmental
Balance Available2,342,782
Total Non-Departmental
2,342,782
Total Riverfront General Fund2,684,782
EXHIBIT A
Urban Renewal Agency
Riverfront Capital Projects Fund$$$
Total Capital Projects
219,418
Non-Departmental
Balance Available13,000
Total Non-Departmental
13,000
Total Riverfront Capital Projects Fund232,418
Total Resolution24,979,51
8
Exhibit B
Urban Renewal Agency
Reporting FundManaging FundFund Titles
817817Downtown General Fund
812812Downtown Debt Service Fund
813813Downtown Capital Projects Fund
821821Riverfront General Fund
823823Riverfront Capital Projects Fund