FY 2008 Comprehensive Annual Financial Report

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• Downtown Initiative -For several years the City Council and the community as a whole have had great interest in the revitalization of our downtown core. In FY08, the City moved in that direction with the following: ^ Completion of the WestTown on 8th Affordable Housing Project. This provides 102 rental units for those earning less than 60% of median income, and nine market-rate units; ^ Staff continued to work with Beam Development on the redevelopment of the Centre Court and Washburn buildings, and in May 2008, the Urban Renewal Agency and Beam signed a purchase and sale agreement; ^ Transportation projects connecting the new Courthouse District with downtown were in their final phase; ^ In December 2007, the City of Eugene and the Eugene Water & Electric Board (EWEB) signed a memorandum of understanding outlining the process for creating a master plan for new uses for the EWEB waterfront property; and ^ Five proposals were received in response to an RFP for a vacant city-owned site at 10th & Charnelton Street, directly across the street from the downtown library. Increase Police Staffing with a Special Focus on Supporting Community Policing and Reducing Property Crime -The adopted strategic plan for the Eugene Police Department (EPD) includes the short-term strategic initiative: Develop a Police Staffing Plan. The purpose is to develop a reliable estimate of the number of staff needed for-the various levels of police services using sound and readily available methodologies, and developing a realistic staffing plan to implement those needs consistent with the overall priorities of the City. The Police Commission reviewed the Magellan Comprehensive Staffing Report as a starting point for development of a long-range staffing plan. Also, during budget discussions for the upcoming fiscal year, the addition of four new police officer positions were approved for FY09. Find Locally Controlled and Sustainable Funding Sources for the City's Transportation System - This work began a decade ago, when the value of federal and state transfer payments began to decline. In 2002, the Council adopted a 3-cent-per-gallon business license tax on motor vehicle fuel dealers. A 2- cent increase to that tax was approved in 2005 with a sunset date of February 2008. Public hearings were held concerning extension of the soon-to-expire 2-cent-per-gallon business license tax. The Council took action to extend the sunset provision until 2011, leaving the fuel tax at 5-cents per gallon for an additional three years. In FY08, the annual deficit for transportation system operation and maintenance activities was projected to be $1.6 million. The backlog of unfunded capital street projects grew to over $170 million. In August 2007, anticipating the sunset of the 2-cent tax increase, the City Council referred a 3-cent increase to the November 6, 2007 special election. The voters did not approve the measure. In November 2008, voters approved a $35.9 million bond measure to fund pavement capital preservation projects over the next 10 years. As part of budget decisions for FY09, the Council approved a $1 million increase in pothole repair funding. With some of this funding, the Public Works Department will create a proactive "pothole patrol." That work will supplement existing repair services. In addition, the department will reestablish the "maintenance overlay" program, an efficient way to temporarily repair surface areas containing numerous potholes on unimproved streets. During 2008, the City Manager also convened a Street Maintenance Task Force. This broad-based group of citizen representatives met to try to develop a consensus on, and recommend a package of, solutions that would provide about $15 million per year for street repairs. Other Information Awards The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Eugene for its Comprehensive Annual Financial Report for the fiscal year ended June 30, 2007. This was the 32"d consecutive year that the City has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must .publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. 7