Subject
The annual report of activity for the urban renewal district during the 2019-20 fiscal year has been prepared and is ready for filing.
Summary and Background
ORS 457.460 requires all urban renewal districts to prepare an annual report of the financial activities. This statutory requirement states that the report shall be submitted to the governing body of the municipality in which the district is located. The attached report details the revenue brought in and expended by the urban renewal agency from July 2019 to June 2020 and details the impact the district's tax collection had on all other taxing districts. Taxes collected by the district had a negligible impact on all districts with the City of Hermiston forgoing the most revenue with 1.22% of total revenues foregone.
Under the rules in ORS 457, the annual report must be filed with the governing body of the city containing the urban renewal district each year.
Tie-In to Council Goals:
The urban renewal district is involved with projects directly relating to downtown revitalization. As of June 30, 2020, over $1,331,588.21 had been spent on projects downtown.
Fiscal Information
There is no financial impact from accepting the report.
Alternatives and Recommendation
Alternatives
The city council may choose to
- Accept the report for filing
- Reject the report
Recommendation
Staff recommends the city council accept the report for filing.
Requested Action/Motion
Motion to approve the report for filing.
Submitted By: Clinton Spencer