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Urban Renewal Agency's Capital Assets, <br />Net of Accumulated Depreciation <br />Land <br />Construction in progress <br />Improvements other than buildings <br />Infrastructure <br />Total capital assets <br />2008 <br />$ 1,908,026 <br />1,857,468 <br />1,773,850 <br />1,118,844 <br />$ 6,658,188 <br />2007 <br />1,908,026 <br />1,008,296 <br />1,676,964 <br />968,309 <br />5,561,595 <br />Additional information on the Agency's capital assets can be found in note (4)(C) of this report. <br />Next Year's Budgets and Rates <br />For FY09, the following factors were taken into account when developing the urban renewal budgets: <br />• Property taxes are predicted to increase slightly in FY09 due to small increases in assessed value within <br />the districts. However, the Downtown District will discontinue the special levy, resulting in an estimated <br />overall decrease in property tax revenue of about 50%. <br />• The property tax collection rate for both districts is estimated to be 96% in FY09. The FY08 actual was <br />approximately 98% for both current and delinquent taxes. <br />The Downtown District will continue to implement the redevelopment of West Broadway in FY09. The budget <br />includes a loan to Beam Development for renovating the Centre Court building. <br />There are no new projects planned in the Riverfront District for FY09. <br />Requests for Information <br />This financial report is designed to provide a general overview of the Agency's finances for all those with an <br />interest in the Agency. Questions concerning any of the information provided in this report, or requests for <br />additional financial information, should be addressed to: <br />Fionan Cronin, CPA <br />Financial Reporting Manager <br />City of Eugene <br />100 West 10th Avenue, Suite 400 <br />Eugene, Oregon 97401 <br />9 <br />