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Minutes - 05/20/2006 URBAN RENEWAL BUDGET COMMITTEE MINUTES May 20, 2006 DATE. COUNCIL CHAMBERS, CITY HALL, CITY OF WOODBURN, COUNTY OF MARION, STATE OF OREGON, MAY 20, 2006. CONVENED. The Budget Committee met at 9:33 a.m. with Chairman Stone presiding. ROLL CALL. Alma Grijvala Grayce Higgins Stan Milne Jack Reinhardt Flurry Stone Cindi Vetter Absent Present Present Present Present Absent Richard Bjelland Jim Cox Frank Lonergan Pete McCallum Walt Nichols Elida Sifuentez Present Present Absent Present Present Absent Staff Present: City Administrator Brown, Finance Director Gillespie, City Attorney Shields, Police Chief Russell, Public Works Director Tiwari, City Recorder Tennant Also present: Mayor Figley Tape I Side A 26.2 PUBLIC HEARING ON URBAN RENEWAL BUDGET FOR FISCAL YEAR 2006- 2007. Chairman Stone declared the hearing open at 9:33 a.m. for the purpose of receiving public input on Woodburn's Urban Renewal budget for fiscal year 2006-07. Administrator Brown reviewed his Budget Message for fiscal year 2006-07 and presented an annual budget in the amount of $2,460,000 which is 79.4% higher than the previous fiscal year. He stated that this is the fourth (4th) Urban Renewal budget since its inception with Phase I of the Downtown Plaza project completed and Phase I of the Front Street improvement project nearing completion. It is anticipated that the Urban Renewal District will receive approximately $444,000 in revenues during fiscal year 2006-07 and receipt of property taxes is coming in sooner than originally anticipated which, in turn, allows the Agency to borrow more money sooner than initially projected. It was noted that a court case ruling changed the method used by the County Tax Collector in distributing funds to urban renewal districts thereby increasing the revenue flow into the district. The Agency did borrow $1.85 million in 2005-06 (lO-year note) to complete the Front Street project. The budget also provides for debt service payments, a reserve for debt service, and a contingency. He stated that the established debt limit is approximately $29 million and once the Agency reaches the debt limit, they are not allowed to go any higher unless the voters approve an increase in the debt limit. On the other hand, the Agency could be eliminated if it was decided that no more work was necessary within the urban renewal district and property taxes that have been diverted to the district in previous years would go back to the various taxing agencies in the amounts in effect at the time ofthe elimination of the Agency. If revenues continue to grow at the current rate, the Agency will be able to borrow within the next few years for other capital projects. Administrator Brown stated that the Agency has indicated a need to tighten up the Downtown plan and staff is interviewing consultants Page 1 - Urban Renewal Budget Committee Minutes, May 20, 2006 URBAN RENEWAL BUDGET COMMITTEE MINUTES May 20, 2006 within the next week to work on a long term capital improvement program. In regards to the Front Street improvement project, Phase II has been delayed due to undergrounding of utility lines and staff is currently in negotiations with Portland General Electric on this issue. The Committee took a short break between 9:43 am and 9:49 a.m.. Administrator Brown stated that the proposed budget document provides for expenditures for completion of both Phase II and III but he had increased the total project cost by approximately 10% over the prior year due to increased prices. John Gervais, Woodburn Independent, questioned Public Works as to what will be done by staff to minimize the impact to local businesses along Front Street when the improvement work is being done. Public Works Director Tiwari stated that staffhas been looking closely at this issue since the intent is to keep all businesses informed as to the progress of the improvement and to work with them to minimize the impact. Until such time as the undergrounding issues are resolved, it is too early to work with the businesses on details of the construction timelines. Side B Administrator Brown stated that the goal is to complete this project in an efficient and orderly manner. This will mean that staff will meet with businesses daily to schedule work around their high and low points. Signage and alternate accesses will also be addressed to try and minimize the impact. Committee member Bjelland stated that it was especially critical in a project like this to have identified problem areas addressed early in the process with the local businesses. Since there were no more comments from the public on the proposed budget, Chairman Stone closed the hearing at 10:00 a.m.. BJELLAND/HIGGINS... recommend to the Urban Renewal Agency approval of the fiscal year 2006-07 Urban Renewal Budget in the amount of $2,460,000. The motion passed unanimously. 3.8 ADJOURNMENT. NICHOLS/MCCALLUM... meeting be adjourned. The motion passed unanimously. The meeting adjourned at 10:01 a.m.. John Reinhardt, Secretary Minutes prepared by: Mary Tennant, Recorder City of Woodburn, Oregon Page 2 - Urban Renewal Budget Committee Minutes, May 20, 2006