HomeMy WebLinkAboutResolution SEDA 2013-01 01/28/2013 O SPRINGFIELD ECONOMIC DEVELOPMENT AGENCY
RESOLUTION NO. SEDA2013-01
A RESOLUTION ADJUSTING RESOURCES AND REQUIREMENTS IN THE FOLLOWING FUNDS:
SEDA Glenwood General and SEDA Downtown General
WHEREAS,the 2012-2013 fiscal year appropriations for the Springfield Economic Development Agency(SEDA)
were made by Resolution No. SEDA2012-02 dated June 18,2012;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 comment on such requests;and,
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 meeting.
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. Supplemental Budget No. 1 for the 2012-2013 Fiscal Year amending Resolution SEDA2012-02 is hereby
adjusted as follows:
SEDA GLENWOOD GENERAL-FUND 229
Estimated Revenues Appropriations
Beginning Cash Balance $ 4,660 Departmental
Current Taxes 339,000 Development& Public Works $ 250,000
Interfund Loan Received 250,000
Non Departmental
Reserves $ 19,460
Debt Services $ 324,200
Total Non Departmental $ 343,660
Total SEDA Glenwood General Total SEDA Glenwood General
Fund S 593.660 Fund I 593,M
Authoization to adjust Beginning Cash to reflect actual balance as of July 21,2012 and to recognize the full amount of
the tax levy by the County Assessor for the current year. The appropriation request include the re-appropration of
the NEPA study and the necessary accounting entries for SEDA debt repayment obligations to the City.
C
SEDA DOWNTOWN GENERAL-FUND 230
Estimated Revenues Appropriations
Beginning Cash Balance $ 1,064 Departmental
Miscellaneous Receipts 1,000 City Manager's Office $ 2,000
Proceeds from Commercial Loan 400,000 Finance 6,000
Interfund Loan Received 400,000 Total Departmental $ 8,000
Non Departmental
Debt Services $ 11,250
Reserves 64
Total Non Departmental $ 11,314
Capital Projects $ 782,750
Total SEDA Glenwood General Total SEDA Glenwood General
Fund $ 802,064 Fund $ 802.064
Authorization to adjust Beginning Cash to the actual balance as of July 1,2012. Also,as part of the Downtown
Implemenation Plan strategy,an appropriation request is being made to authorize additional borrowing by SEDA for the
purchase of property that could be used to constuct a community plaza. Proceeds could come from the City or an
commerical bank.
Section 2. This resolution shall take effect upon adoption by the Board of Directors.
28th 2013
Adopted by the Board of Directors of the Springfield Economic Development Agency this-2-34 day of January,204-2,by a
vote of 6 for and 0 against. (3 absent)
/
-H41 : • can VanGordon
Springfield Economic Development Agency Vice-Chair
Board of Directors
ATT1. ►:
Sheri Mo re-Secretary a,EVIEvuEL) & APPROVbL)
Springfield Econo is Development Agency A TO FORM
Board of Directors
E: k 12� rc
( '1=ICE OF CITY ATTORNEY