HomeMy WebLinkAboutItem 6-FY13 URA June Supplemental Budget
EURA
UGENE RBAN ENEWAL GENCY
AIS
GENDA TEM UMMARY
Public Hearing and Action: Resolution Adopting a Supplemental Budget;
Making Appropriations for the Urban Renewal Agency of the City of Eugene
for the Fiscal Year Beginning July 1, 2012 and Ending June 30, 2013
Meeting Date: June 24, 2013 Agenda Item Number: 6
Department: Central Services Staff Contact: Mia Cariaga
www.eugene-or.gov Contact Telephone Number: (541) 682-5408
ISSUE STATEMENT
Urban Renewal Agency Board approval of the second Supplemental Budget (SB2) for Fiscal Year
2012-2013 (FY13) is requested. Oregon Local Budget Law (ORS 294.471) allows for supplemental
budgets in the event of “an occurrence or condition that is not ascertained when preparing the
original budget or a previous supplemental budget for the current year”. This Supplemental
Budget does not authorize any increase in the property tax levy and has been published in
compliance with the Oregon Local Budget Law.
BACKGROUND
The only transaction included in this Supplemental Budget is to recognize revenue from the sale of
surplus property located east of the Federal Courthouse at 799 Ferry Street to Northwest
Community Credit Union (NWCCU) in the amount of $1,231,503, increase capital appropriations
for the system development charges to be paid by the Riverfront Urban Renewal District
($350,000) and for the Agripac Building relocation ($180,000), and increase Balance Available in
the URA Riverfront Capital Projects Fund by $701,503.
The Urban Renewal Agency approved the sale of this property to NWCCU on October 31, 2012.
The terms of the sale approved by the URA included an agreement that the system development
charges (SDCs) associated with the construction of the new NWCCU facility will be paid by the
Agency. The total amount of these charges is estimated at $350,000.
The historic Agripac building was moved to the temporary Eugene Water & Electric Board
(EWEB) site in May of this year. Riverfront URA funds were used to abate the asbestos within the
building, demolish the additions to the original structure, and move the structure to the EWEB
site. This Supplemental Budget provides $180,000 to cover the cost of these services.
RELATED CITY POLICIES
Transaction included in this Supplemental Budget conforms to the City’s Financial Management
Goals and Policies.
S:\CMO\2013 Council Agendas\M130624\S1306246.docx.doc
AGENCY OPTIONS
Particular requests requiring more information or discussion may be removed from the
Supplemental Budget and delayed for action in a future Supplemental Budget. In certain cases,
there may be financial, legal or operational impacts to delaying budget approval.
A delay in appropriating funding for the Agripac building relocation will result in a budget
violation due to the FY13 expenditures in excess of the legal appropriation limit that have already
been incurred. A delay in appropriation of funds for the NWCCU system development charges will
not have an immediate impact, but will require a Supplemental Budget action in FY14 due to this
expense being a condition of the property sale.
AGENCY DIRECTOR’S RECOMMENDATION
The Urban Renewal Agency Director recommends approval of the attached resolution adopting
the Supplemental Budget.
SUGGESTED MOTION
Move to approve a resolution adopting a Supplemental Budget; making appropriations for the
Urban Renewal Agency of the City of Eugene for the Fiscal Year beginning July 1, 2012, and ending
June 30, 2013.
ATTACHMENTS
A. Transaction Summary
B. Resolution
FOR MORE INFORMATION
Staff Contact: Pavel Gubanikhin
Telephone: 541-682-5512
Staff E-Mail: Pavel.E.Gubanikhin@ci.eugene.or.us
OR
Staff Contact: Mia Cariaga
Telephone: 541-682-5408
Staff E-Mail: Mia.Cariaga@ci.eugene.or.us
S:\CMO\2013 Council Agendas\M130624\S1306246.docx.doc
ttachment
AA
Transaction Summar
y
823 Urban Renewal Agency Riverfront Capital Projects Fund
FY13FY13FY13FY13
doptedSB1 ActionSB2 ActionRevised
A
I.RESOURCES
BEGINNING WORKING CAPITAL
164,1232320164,355
CHANGE TO WORKING CAPITAL
REVENUE
Miscellaneous001,231,5031,231,503
a
Total Revenue001,231,5031,231,503
TOTAL RESOURCES164,1232321,231,5031,395,858
II.REQUIREMENTS
Capital Projects
530,000
Capital Projects00530,000
a
Capital Carryover141,50000141,500
Total Capital Projects141,5000530,000671,500
Non-Departmental
Balance Available22,623232701,503724,358
a
Total Non-Departmental22,623232701,503724,358
TOTAL REQUIREMENTS164,1232321,231,5031,395,858
823 Urban Renewal Agency Riverfront Capital Projects Fund
a) Recognize revenue from the sale of surplus property at 799 Ferry Street to Northwest Credit Union, increase capital
appropriations for the system development charges to be paid by the Riverfront Urban Renewal District ($350,000) and the
Agripac building relocation ($180,000), and increase Balance Available by $701,503.
Resolution Number _______ Attachment B
A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET;
MAKING APPROPRIATIONS FOR THE URBAN RENEWAL AGENCY
OF THE CITY OF EUGENE
FOR THE FISCAL YEAR BEGINNING JULY 1, 2012,
AND ENDINGJUNE 30, 2013
The Urban Renewal Agency of the City of Eugene finds that adopting the Supplemental Budge
t
and making appropriations is necessary under ORS 294.471.
NOW THEREFORE,
BE IT RESOLVED BY THE URBAN RENEWAL AGENCY OF THE CITY OF
EUGENE
as follows:
Section 1.
ThattheSupplementalBudgetfortheUrbanRenewalAgencyoftheCityofEugene,
Oregon,forthefiscalyearbeginningJuly1,2012,andendingJune30,2013,asset
forth in attached Exhibit "A" is hereby adopted.
Section 2.
ThesupplementalamountsforthefiscalyearbeginningJuly1,2012,andendingJune
30, 2013, and for the purposes shown in attached Exhibit "A" are hereby appropriated.
Section 3.
ThatthisSupplementalBudgetispreparedinaccordancewithORS294.471(1),
whichauthorizestheformulationofasupplementalbudgetresultingfrom"an
occurrenceorconditionwhichhadnotbeenascertainedatthetimeofthepreparation
ofabudgetforthecurrentyearorcurrentbudgetperiodwhichrequiresachangein
financialplanning."ThisSupplementalBudgetwaspublishedinaccordancewith
ORS 294.471(3).
Section 4.
ThisresolutioncomplieswithORS294.471(4),anddoesnotauthorizeanincreasein
thelevyofpropertytaxesabovetheamountpublishedintheAnnualBudget
publication.
The foregoing resolution adopted this 24th day of June, 2013.
Director
EXHIBIT "A"
In dollars
URBAN RENEWAL AGENCY RIVERFRONT CAPITAL PROJECTS FUND
Capital Projects
Capital Projects530,000
Total Capital Projects
530,000
Non-Departmental
* Balance Available701,503
Total Non-Departmental
701,503
TOTAL URA RIVERFRONT CAPITAL PROJECTS FUN1,231,503
D
TOTAL REQUIREMENTS - ALL FUND1,231,503
S
* Reserves and Balance Available amounts are not appropriated for spending
and are shown for information purposes only.