HomeMy WebLinkAboutResolution SEDA 2016-02 06/13/2016 SPRINGFIELD ECONOMIC DEVELOPMENT AGENCY
RESOLUTION NO. SEDA2016-02
A RESOLUTION ADJUSTING RESOURCES AND REQUIREMENTS IN THE FOLLOWING
SEDA Downtown General Fund
WHEREAS, the 2015-2016 fiscal year appropriations for the Springfield Economic Development
Agency(SEDA)were made by Resolution No. SEDA2015-03 dated June 8, 2015; and,
WHEREAS, at various times during the fiscal year the SEDA Board of Directors is requested to
make adjustments to the fiscal year budget to reflect needed changes in planned activities, to recognize
new revenues, or to make other required adjustments; and,
WHEREAS, the SEDA Board of Directors handles such requests for adjustment to the budget
through Supplemental Budget Resolutions presented at public hearings at which the public may
WHEREAS, notice of a public hearing, including information regarding such revenues and
expenditures was published in a newspaper of general circulation not less than 5 days prior to the public
WHEREAS,this supplemental budget SEDA2 as amended by supplemental budget SEDA1
Resolution SEDA2016-08, for the 2015-2016 fiscal year, amends Resolution SEDA2015-03.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
SPRINGFIELD ECONOMIC DEVELOPMENT AGENCY, An Urban Renewal Agency of the
State of Oregon, as follows:
Section 1. Resolution SEDA2015-03 is hereby adjusted as follows:
FUND: SEDA Downtown Fund 230
Resource Amount Expenditure Amount
FY16 Amended Budget $ 815,172 FY16 Amended Budget $ 815,172
Current Taxes 75,000 Operating Expense 47,000
Transfer Fund 420 56,875 Debt Services 96,500
Parking Program Permit 47,000 Reserves 4,375
Capital 31,000
Total Resources $ 994,047 Total Requirements $ 994,047
Comments: Downtown Urban Renewal budget required a supplement budget request for two active
projects: Downtown Parking Program and Downtown Lighting Project for Phases 2 and 3. Recognizes
additional revenue from property taxes expected to be received and the resulting budget requirement by
SEDA for the revolving loan program.
Section 2. This resolution shall take effect upon adoption by the Board of Directors.
Adopted by the Board of Directors of the Springfield Economic Development Agency this 13th day of
June, 2016, by a vote of 5 for and 0 against. (3 Absent)
S
VanGordon, Chair
Springfield Economic Development Agency
Board of Directors
ATTEST:
Marilee oodrow, Secretary
Springfield Economic Development Agency REVIEWED&APPROVED
Board of Directors AS T/�riAR 'ktrt,
DATE: 7,0
OFFICE OF CITY ATTORNEY
SEDA2016-02