HomeMy WebLinkAboutDC Compiled Budget 6-9-16Page 1 of 2
STAFF REPORT
June 9, 2016
AGENDA ITEM: V-A
Consideration of Resolution Adopting the Central Point Development Commission Budget for Fiscal
Year 2016-17.
STAFF SOURCE:
Don Burt, Planning Manager
BACKGROUND:
On April 18, 2016 the Central Point Development Commission Budget Committee met to review the draft
budget for Fiscal Year 2016-17. After discussion they voted to approve the budget as follows:
General Fund
Personnel Services $39,000
Materials & Services $120,300
Capital Outlay $1,588,010
Debt Service $397,400
Contingency $50,000
Total General Fund $2,194,710
For purposes of budgeting tax increment revenue projections ranging between $325,000 and $268,000
were developed. The Budget was based on the higher, more aggressive, estimate with the understanding
that actual tax increment receipts will be known prior to any financings and/or construction contracts, and
that expenditures will be appropriately adjusted. If the lower tax increment projection were used the
Budget would generally appear as follows:
General Fund
Personnel Services $39,000
Materials & Services $102,300
Capital Outlay $1,318,010
Debt Service $328,400
Contingency $50,000
Total General Fund $1,837,710
Page 2 of 2
Expense reductions would occur in Materials & Services (bond costs), Capital Outlay, and Debt Service.
Because of the variability in establishing bond parameters (interest, market vs. private placement, etc.)
and expenditure controls, use of the higher tax increment revenue projection for purposes of preparing the
Budget had minimal risk.
EXHIBITS/ATTACHMENTS:
Exhibit “A” – Central Point Development Commission Annual Budget, Fiscal Year 2016-17.
Attachment “B” – Resolution No. 2016-03 Approving Budget
ACTION:
Consider resolution approving the fiscal year 2016-17 budget for the Central Point Development
Commission.
RECOMMENDATION:
Adopt Resolution No. 2016-03 approving the alternate fiscal year 2016-17 budget for the Central Point
Development Commission.
EXHIBIT “A”
Page 1 of 12
CENTRAL POINT DEVELOPMENT
COMMISSION
PROPOSED BUDGET
FISCAL Y EAR 2016-17
BUDGET MEETING
JUNE 9, 2016
EXHIBIT “A”
Page 2 of 12
CENTRAL POINT DEVELOPMENT
COMMISSION
CENTRAL POINT DEVELOPMENT COMMISSION MEMBERS
HANK WILLIAMS, CHAIR
BRUCE DINGLER , VICE CHAIR
ALLEN BRODERICK
TANEEA BROWNING
MIKE QUILTY
RICK SAMUELSON
BRANDON THUESON
CITIZEN BUDGET COMMITTEE MEMBERS
KAY HARRISON
ROB HERNANDEZ
KA REN HUCKINS
CHRIS RICHEY
BILL STULTS
BILL WALTON
STEVEN WEBER
BUDGE T OFFICER
CHRIS CLAYTON, CITY MANAGER
URBAN RENEWAL STAFF
CHRIS CLAYTON, URBAN RENEWAL MANAGE R/ CITY MANAGER
, FI NANCE DIRECTOR
TOM HUMPHREY, COMMUNITY DE VELOPMENT DIRECTOR
MATT SAMITORE, PARKS & PUBLIC WORKS DIRECTOR
EXHIBIT “A”
Page 3 of 12
BUDGET MESSAGE
TO: CHAIR AND BOARD OF DIRECTORS CENTRAL POINT DEVELOPMENT
COMMISSION;
BUDGET COMMITTEE MEMBERS;
AND CITIZENS OF CENTRAL POINT
INTRODUCTION
The FY 2016-17 Budget represents the Commission’s first significant venture toward the
physical implementation of the Plan. This becomes apparent in the knowledge that not
only will it exceed, by a significant amount, all prior budgets combined, but it will also
represent the Commission’s first use of tax increment financing in the amount of
$1,700,000.
There are three actions that necessitate the size of the proposed budget:
1. East Pine Streetscape Design & Engineering ($210,000). As a carryover from the
FY15-16 Budget, the Commission will be completing the design, preliminary
engineering, and Phase 1 final construction engineering for the downtown
streetscape project on East Pine Street. This design and engineering project will
identify the scope and cost of constructing Phase 1 of the East Pine’s
streetscape.
2. Phase 1 Streetscape Construction ($1,348,010). The Phase 1 streetscape
construction project will require an estimated $1,700,000 tax increment
revenue bond before commencement of construction. It can be expected that
due to construction timing (beginning late spring 2017) that a large percentage
of the construction funding will be carried forward to the FY17-18 Budget.
3. Bond Costs. Including the first year’s estimated Debt Service Payment and Debt
Service Reserve the total cost for the bond will be approximately $102,000.
It should be noted that the costs and funding for the FY 2016-17 Budget will cover most
of two fiscal years to see the Phase 1 streetscape project through to completion.
MISSION
It is the primary mission of the Central Point Development Commission to eliminate
blight and depreciating property values within the urban renewal district. This mission
will be accomplished through the strategic implementation of projects and activities
that consciously maximize both public and private investments within the Urban
Renewal Area, investments that are designed to target, facilitate and strengthen the
economic and aesthetic vitality of the urban renewal district as the City’s traditional
mixed-use urban core.
EXHIBIT “A”
Page 4 of 12
OVERALL GOAL
The basic goal of the Development Commission is to address, through the implementation of the Plan,
existing blighted conditions within the urban renewal district so that unused and underused properties
can be placed in productive condition and utilized at their highest and best use in accordance with the
City of Central Point Comprehensive Plan.
KEY OBJECTIVES AND ACTIVITIES
Section 1.5.2 of the Plan identifies fourteen (14) goals and objectives to be
accomplished by the Plan. Section 1.6 addresses the activities that the Commission may
undertake. In July of 2013 the Development Commission prepared the Central Point
Urban Renewal Project Guide identifying the Development Commission’s top five
activities to be undertaken over a five-year period (FY13-14 to FY17-18). The activities
budgeted for FY 2016-17 are both long awaited and consistent with the Plan’s goals and
objectives and the Development Commission’s activities schedule.
KEY PERFORMANCE MEASURES
Increased real property assessed value within the urban renewal district
Track and manage Return-on-Investment (ROI) ratio between public and private
investment dollars within the urban renewal district
Completion of projects on schedule.
LEGAL COMPLIANCE
Notice of Budget Committee meeting
Affidavit of Publication, Mail Tribune
Resolution Adopting the Annual Budget
FORM UR-50, Notice to Assessor
THE BUDGET
This budget is a financial plan listing all planned expenses and revenues for fiscal year
2016-17. The Development Commission’s budget consists of a single fund; the General
Fund. The Budget’s primary source of income is tax increment revenue, including
proceeds from the sale of tax increment revenue bonds.
GENERAL FUND EXPENSES
The Development Commission’s expenses fall into one of four categories: Personal
Services, Materials & Services, Capital Projects, and Debt Service. All expenditures are
dedicated to implementation of the Plan.
PERSONAL SERVICES
Funding for Personal Services ($39,000) is related to the increase in the
workload necessary to complete the budgeted projects. Rather than hire
personnel for staffing the Development Commission the budget for Personal
Services will be used to reimburse the existing City staff for the time committed
to urban renewal.
Because of the East Pine Street project scheduled for this fiscal year the
Personal Services budget has increased from last year.
EXHIBIT “A”
Page 5 of 12
MATERIALS & SERVICES
The Materials & Services category ($120,300) is comprised of six subcategories,
most of which address basic administrative requirements of the Development
Commission. Such as; the costs of legal services, annual audit, materials,
contract services, etc. For this fiscal year the costs for an anticipated bond sale
have been added, substantially raising the total costs allocated to Materials and
Services.
CAPITAL PROJECTS
The Capital Projects Fund accounts for all expenditures ($1,588,010) on projects
related to implementation of the fifteen (15) projects listed in the Plan. This
includes such activities as project administration, design, engineering, and
construction costs. Over the course of the next 21 years it is the Commission’s
charge to undertake each of these projects, while not exceeding its Maximum
Indebtedness limit of $43,177,530.
For FY 2016-17 the Capital Projects Fund includes the following projects:
Engineering for the streetscape and signalization improvements on East
Pine within the downtown (Project No. 1 and 5). This project was
started in FY 2015-16 and will be completed FY 2016-17.
Construction of Phase 1 of East Pine Streetscape Project (Project No. 1
and 5).
Funding for the Economic Development Incentive Program (commercial
façade improvement).
DEBT SERVICE
The purpose of the Debt Service category is to account for the payment of
principal and interest due on Commission debt. For this fiscal year the
Commission will pay interest on the $125,000 loan from the City. The terms of
the loan are 2% interest payments annually, with a $125,000 balloon payment
at the end of the fifth year (FY17-18). The Commission also has a debt service
obligation in the amount of $4,900 for improvements made along Hwy. 99 by
Walgreen’s per the Streetscape Reimbursement Program.
For the first time the Debt Service category will also include provision for
repayment of the anticipated FY 2016-17 Bond.
RESOURCES
Funding for activities and projects will come from four sources; tax increment revenue,
interest, cash balance forward, and bond proceeds, for a total of $2,194,710.
FY 2016-17 BOND
It is anticipated that in FY 2016-17 the Commission will $1,700,000 in bond
proceeds.
EXHIBIT “A”
Page 6 of 12
TAX INCREMENT REVENUE
The primary source of urban renewal revenue will be bond proceeds, followed
by tax increment revenue. For FY 2016-17 it is estimated that the Commission
will receive $325,000 in tax increment revenue.
INTEREST & PREVIOUSLY LEVIED TAXES
It is estimated that the Development Commission will receive $2,600 in
previously levied taxes and interest on its cash balance.
BALANCE FORWARD
The Commission will begin FY 2016-17 with an estimated beginning cash
balance of $167,110.
A BALANCED BUDGET
By Oregon Law the budget is balanced at $2,194,710.
EXHIBIT “A”
Page 7 of 12
Actual Amount Adopted Budget Proposed Budget
2014/15 This Year 2015/16 Next Year 2016/17
126,059$ 126,500$ 167,110$ -$ -$ -$
-$ -$ 1,700,000$
-$ -$ -$
94$ -$ -$
Interest 890$ -$ 100$
119,074$ 287,800$ 327,500$
NA NA NA
246,117$ 414,300$ 2,194,710$
-$ 18,000$ 39,000$
690$ 18,900$ 120,300$
210$ 360,000$ 1,588,010$
-$ 7,400$ 397,400$
-$ -$ -$
Contingencies -$ 10,000$ 50,000$
-$ -$ -$
-$ -$ -$
900$ 414,300$ 2,194,710$
LONG TERM DEBT July 1, 2016General Obligation Bonds
Other Bonds
Other Borrowings
Total
Beginning Fund Balance/Net Working Capital
NOTICE OF BUDGET HEARING
Contact: Chris Clayton, Urban Renewal Manager Phone: (541) 423-1018 Email: Chris.Clayton@centralpointoregon.gov
FINANCIAL SUMMARY - RESOURCES
TOTAL OF ALL FUNDS
Capital Outlay
Federal, State and All Other Grants
Revenue from Bonds and Other Debt
Interfund Transfers
All Other Resources Except Division of Tax & Special Levy
Revenue from Division of Tax
Revenue from Special Levy
Total Resources
FINANCIAL SUMMARY - REQUIREMENTS BY OBJECT CLASSIFICATION
Personnel Services
Materials and Services
Debt Service
Interfund Transfers
All Other Expenditures and Requirements
Unappropriated Ending Fund Balance
Total Requirements
-$ -$
STATEMENT OF INDEBTEDNESS
Estimated Debt Outstanding Estimated Debt Authorized But not incurred on July 1
-$ 1,700,000$
157,060$ 152,662$
157,060$ 1,852,662$
A public meeting of the Central Point Development Commission will be held on June 9, 2016 at 6:00 p.m. at the
City of Central Point Council Chambers, 140 S. 3rd St.,Central Point Oregon. The purpose of this meeting is to
discuss the budget for the fiscal year beginning July 1, 2016 as approved by the Central Point Development
Commission Budget Committee. A summary of the budget is presented below. A copy of the budget may be
inspected or obtained at the City of Central Point Finance Department, 140 S. 3rd St., Central Point, OR, between
the hours of 9:00 a.m. and 4:00 p.m., or at www.centralpointoregon.gov.
EXHIBIT “A”
Page 8 of 12
RESOURCES
General Fund
1 124,242$ 126,059$ 125,150$ 1. Available cash on hand* (cash basis) or 167,110$ 167,110$ 167,110$
2 -$ -$ -$ 2. Net working capital (accrual basis)-$ -$ -$
3 -$ 94$ 150$ 3. Previously levied taxes estimated to be received 2,500$ 2,500$ 2,500$
4 296$ 890$ 1,200$ 4. Interest 100$ 100$ 100$
5 -$ -$ -$ 5. Transferred in, from other funds -$ -$ -$
6 6 OTHER RESOURCES -$ -$
7 -$ -$ -$ 7. Loan (City of Central Point)-$ -$ -$
8 -$ -$ -$ 8. FY16-17 Bond 1,700,000$ 1,700,000$ 1,700,000$
9 9
10 10
11 11
12 12
13 13
14 14
15 15
16 16
17 17
18 18
19 19
20 20
21 21
22 -$ 22
23 23
24 24
25 25
26 26
27 27
28 28
29 124,538$ 127,044$ 126,500$ 29. Total resources, except taxes to be levied 1,869,710$ 1,869,710$ 1,869,710$
30 287,800$ 30. Taxes estimated to be received 325,000$ 325,000$ 325,000$
31 6,194$ 119,074$ 31. Taxes collected in year levied
32 130,732$ 246,117$ 414,300$ 32. TOTAL RESOURCES 2,194,710$ 2,194,710$ 2,194,710$
*Includes ending balance from prior year
FORM
LB-20
Central Point Development Commission
Second Preceding
Year 2013-14
Budget for Next Year 2016-17Historical Data
Actual
First Preceding
Year 2014-15
Adopted Budget
This Year
2015-16 RESOURCE DESCRIPTION Proposed By
Budget Officer
Approved By
Budget Committee
Adopted By
Governing Body
EXHIBIT “A”
Page 9 of 12
FORM
LB-30
Adopted Budget
Second Preceding First Preceding This Year Proprosed By Approved By Adopted By
Year 2013-14 Year 2014-15 2015-16 Budget Officer Budget Committee Governing Body
PERSONAL SERVICES
1 -$ -$ 15,000$ Salaries & Wages 30,000$ 30,000$ 30,000$ 1
2 -$ -$ 3,000$ City Taxes & Benefits 9,000$ 9,000$ 9,000$ 2
3 -$ -$ 18,000$ TOTAL PERSONAL SERVICES 39,000$ 39,000$ 39,000$ 3
MATERIALS AND SERVICES
4 690$ 916$ 2,300$ Advertising/Legal Notices $2,300 2,300$ 2,300$ 4
5 1,400$ 223$ 5,500$ Professional Services $102,000 102,000$ 102,000$ 5
6 82$ 126$ 10,000$ Contract Services, Admin. Staff $15,000 15,000$ 15,000$ 6
7 -$ -$ 400$ Office Supplies $400 400$ 400$ 7
8 -$ -$ 400$ Postage $300 300$ 300$ 8
9 -$ -$ 300$ Phone/Internet $300 300$ 300$ 9
10 2,172$ 1,265$ 18,900$ TOTAL MATERIALS AND SERVICES $120,300 120,300$ 120,300$ 10
CAPITAL OUTLAY
11 -$ 79,181$ 15,000$ Oak Street Parking Lot & Hwy. 99 Street Lights -$ -$ -$ 11
12 210$ 310,000$ East Pine Streetscape & Signals (Engineering)210,000$ 210,000$ 210,000$ 12
13 -$ -$ -$ East Pine Streetscape & Signals Construcion (Phase 1)1,348,010$ 1,348,010$ 1,348,010$ 13
14 -$ -$ 30,000$ Economic Incentive Program 30,000$ 30,000$ 30,000$ 14
15 -$ 29,133$ 5,000$ Design Services, Concept Plan -$ -$ -$ 15
16 210$ 108,314$ 360,000$ TOTAL CAPITAL OUTLAY 1,588,010$ 1,588,010$ 1,588,010$ 16
DEBT SERVICE
17 2,500$ 2,500$ 2,500$ City Loan, Interest Only 2,500$ 2,500$ 2,500$ 17
18 -$ -$ 4,900$ Streetscape Reimbursement 4,900$ 4,900$ 4,900$ 18
19 -$ -$ -$ FY16-17 Bond + Reserve 390,000$ 390,000$ 390,000$ 19
20 2,500$ 2,500$ 7,400$ TOTAL DEBT SERVICE 397,400$ 397,400$ 397,400$ 20
TRANSFERRED TO OTHER FUNDS
21 -$ -$ -$ -$ -$ -$ 21
22 -$ -$ -$ -$ -$ -$ 22
23 -$ -$ -$ -$ -$ -$ 23
24 -$ -$ -$ TOTAL TRANSFERS -$ -$ -$ 24
25 10,000$ OPERATING CONTINGENCY 50,000$ 50,000$ 50,000$ 25
26 126,059$ 134,038$ Ending balance (prior years)
27 -$ UNAPPROPRIATED ENDING FUND BALANCE -$
28 4,882$ $112,080 $414,300 TOTAL REQUIREMENTS $2,194,710 2,194,710$ 2,194,710$ 28
150-504-030 (Rev 12/09)
REQUIREMENTS SUMMARY
Central Point Development Commission - General Fund
Historical Data
Actual REQUIREMENTS DESCRIPTION
Budget For Next Year 2016-17
EXHIBIT “A”
Page 10 of 12
LEGAL COMPLIANCE
Notice of Budget Committee meeting
Notice of Budget Hearing
Resolution No. 2015-04 Adopting the Annual Budget
FORM UR-50, Notice to Assessor
NOTICE OF BUDGET COMMITTEE MEETING
A public meeting of the Budget Committee of the Central Point Development Commission, Jackson
County, Oregon to discuss the budget for the fiscal year July 1, 2016 to June 30, 2017, will be held the
City Council Chambers, 140 S. Third Street, Central Point, Oregon. The meeting will take place on April
18, 2016, at 4:00 P.M. The purpose of the meeting is to receive the budget message and comments from
the public on the budget.
A copy of the budget document may be inspected or obtained on or after April 18, 2016 at the Finance
Offices of the City of Central Point, between the hours of 9:00 A.M. and 5:00 P.M., on the City of Central
Point web site at www.centralpointoregon.gov.
This is a public meeting where deliberation of the Budget Committee will take place.
Any person may appear at the meeting and discuss the proposed budget with the
Budget Committee.
EXHIBIT “A”
Page 11 of 12
Actual Amount Adopted Budget Proposed Budget
2014/15 This Year 2015/16 Next Year 2016/17
126,059$ 126,500$ 167,110$
-$ -$ -$
-$ -$ 1,700,000$
-$ -$ -$
94$ -$ -$ Interest 890$ -$ 100$
119,074$ 287,800$ 327,500$
NA NA NA
246,117$ 414,300$ 2,194,710$
-$ 18,000$ 39,000$
690$ 18,900$ 120,300$
210$ 360,000$ 1,588,010$
-$ 7,400$ 397,400$
-$ -$ -$ Contingencies -$ 10,000$ 50,000$
-$ -$ -$ -$ -$ -$
900$ 414,300$ 2,194,710$
LONG TERM DEBT July 1, 2016
General Obligation Bonds
Other Bonds
Other Borrowings
Total
Beginning Fund Balance/Net Working Capital
NOTICE OF BUDGET HEARING
Contact: Chris Clayton, Urban Renewal Manager Phone: (541) 423-1018 Email: Chris.Clayton@centralpointoregon.gov
FINANCIAL SUMMARY - RESOURCES
TOTAL OF ALL FUNDS
Capital Outlay
Federal, State and All Other Grants
Revenue from Bonds and Other Debt
Interfund Transfers
All Other Resources Except Division of Tax & Special Levy
Revenue from Division of Tax
Revenue from Special Levy
Total Resources
FINANCIAL SUMMARY - REQUIREMENTS BY OBJECT CLASSIFICATION
Personnel Services
Materials and Services
Debt Service
Interfund Transfers
All Other Expenditures and Requirements
Unappropriated Ending Fund Balance
Total Requirements
-$ -$
STATEMENT OF INDEBTEDNESS
Estimated Debt Outstanding Estimated Debt Authorized
But not incurred on July 1
-$ 1,700,000$
157,060$ 152,662$
157,060$ 1,852,662$
A public meeting of the Central Point Development Commission will be held on June 9, 2016 at 6:00 p.m. at the
City of Central Point Council Chambers, 140 S. 3rd St.,Central Point Oregon. The purpose of this meeting is to
discuss the budget for the fiscal year beginning July 1, 2016 as approved by the Central Point Development Commission Budget Committee. A summary of the budget is presented below. A copy of the budget may be
inspected or obtained at the City of Central Point Finance Department, 140 S. 3rd St., Central Point, OR, between
the hours of 9:00 a.m. and 4:00 p.m., or at www.centralpointoregon.gov.
EXHIBIT “A”
Page 12 of 12
FORM UR-50 NOTICE TO ASSESSOR 2016-2017
• Submit two (2) copies to county assessor by July 15. Check here if this is an amended form.
Part 1: Option One Plans (Reduced Rate). For definition of Option One plans, see ORS 457.435(2)(a)
Increment Value
to Use*
100% from Division
of Tax Special Levy Amount**
$ Or Yes ____ $
$ Or Yes ____ $
$ Or Yes ____ $
$ Or Yes ____ $
Part 2: Option Three Plans (Standard Rate). For definition of Option Three plans, see ORS 457.435(2)(c)
Increment Value
to Use***
Amount from Division
of Tax***
Special Levy
Amount****
$ Or
$ Or
$ Or
Part 3: Other Standard Rate Plans. For definition of standard rate plans, see ORS 457.010(4)(b)Increment Value
to Use*
100% from
Division of Tax*
$ Or Yes X
$ Or Yes ____
$ Or Yes ____
$ Or Yes ____
$ Or Yes ____
Part 4: Other Reduced Rate Plans. For definition of reduced rate plans, see ORS 457.010(4)(a)
Increment Value
to Use*
100% from
Division of Tax*
$ Or Yes ____
$ Or Yes ____
$ Or Yes ____
$ Or Yes ____
$ Or Yes ____
Notice to Assessor of Permanent Increase in Frozen Value. Effective 2012-2013, permanently increase frozen value to:
Plan Area Name New frozen value $
Plan Area Name New frozen value $
* All Plans except Option Three: Enter amount of Increment Value to Use that is less than 100% Or check "Yes" to receive
100% of division of tax. Do NOT enter an amount of Increment Value to Use AND check "Yes".
** If an Option One plan enters a Special Levy Amount, you MUST check "Yes" and NOT enter an amount of Increment to Use.
*** Option Three plans enter EITHER an amount of Increment Value to Use to raise less than the amount of division of tax stated
in the 1998 ordinance under ORS 457.435(2)(c) OR the Amount from Division of Tax stated in the ordinance, NOT both.
**** If an Option Three plan requests both an amount of Increment Value to Use that will raise less than the amount of division
of tax stated in the 1998 ordinance and a Special Levy Amount, the Special Levy Amount cannot exceed the amount available
when the amount from division of tax stated in the ordinance is subtracted from the plan's Maximum Authority.
150-504-076-5 (Rev. 12-10)
Plan Area Name
Plan Area Name
Downtown & East Pine Street Corridor Revitalization Plan
The Central Point Development Commission authorizes its 2016-2017 ad valorem tax increment amounts
by plan area for the tax roll of: Jackson County
Plan Area Name
Plan Area Name
Notification
Chris Clayton (541) 423-1018 July 10, 2016
(Contact Person) (Telephone Number) (Date)
140 S. 3rd St., Central Point, Oregon 97502 Chris.Clayton@centralpointoregon.gov
(Agency's Mailing Address) (Contact Person's E-mail Address)
Page 1 of 1
Resolution No. 2016-03
BEFORE THE
CENTRAL POINT DEVELOPMENT COMMISSION
A
RESOLUTION ADOPTING THE BUDGET, MAKING
APPROPRIATIONS,
AND DECLARING TAX INCREMENT
The Central Point Development Commission resolves as follows:
Section 1. The budget for fiscal year 2016–17 in the total of $2,194,710
is adopted (Exhibit “A”). This budget is now on file at the City of
Central Point Finance Offices, 140 South Third Street, Central Point, OR
97502.
Section 2. The amounts for the fiscal year beginning July 1, 2015; and
for the purposes shown below are appropriated:
GENERAL FUND
Personal Services $39,000
Materials & Services $120,300
Capital Outlay $1,588,010
Debt Service $397,400
Contingency $50,000
TOTAL GENERAL FUND $2,194,710
Section 3. The Board of Directors certify to the county assessor a request
for the Downtown & East Pine Street Corridor Revitalization Plan Area
for the maximum amount of revenue that may be raised by dividing the
taxes under Section 1c, Article IX, of the Oregon Constitution and ORS
Chapter 457.
The above resolution statements were approved and declared adopted on
this 9th day of June 2016.
________________________________________
Hank Williams, Chair
Central Point Development Commission
ATTEST
__ ___ _______________
Deanna Casey, Recorder