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City Council Memorandum <br /> Potential Funding Sources for Beverly/Green Properties <br /> October 25, 2007 <br /> Page 2 <br /> approved by the voters in November 2006 could be used to acquire the Beverly/Green properties. The Agenda <br /> Item Summary for the October 22, 2007 meeting explains that some, but not all, of the proceeds can be used to <br /> acquire the properties since the bond measure states that the bond proceeds will be used for purposes beyond <br /> acquisition of open space. Determining where the limit is will require input from the City's bond counsel and rather <br /> than attempt to determine that limit in the abstract, staff is waiting until after the appraiser has completed the <br /> appraisals. <br /> In summary, it is possible to acquire these two properties with a variety of new revenues sources including, but not <br /> limited to, avoter-approved bond measure, grants or donations. It is also possible to redirect the use of existing <br /> resources such as System Development Charges or General Fund on-going revenue or reserves. Each of these <br /> choices involves trade-offs. Once the appraiser provides an opinion on the value of the properties, some funding <br /> options will be better candidates for consideration than other options. <br /> <br /> Attachment A - Chapter V City of Eugene PROS Comprehensive .Plan <br /> <br />