Urban Renewal notice of Annual Financial Report.

Estacada Urban Renewal Agency Notice of Annual Financial Report January 25, 2021 NOTICE OF AVAILABILITY OF ANNUAL FINANCIAL REPORT This notice is a summary of the information available in the Annual Financial Report of the Estacada Urban Renewal Agency, prepared pursuant to ORS 457.460. Copies of the full report are available at Estacada City Hall, to all interested persons during regular business hours, and at www.cityofestacada.org. In summary, the FY 2019-20 receipts totaled $457,108 with a beginning fund balance of $619,084, and expenditures totaled $370,269. Expenditures were made for principal and interest payments, audit, consulting and legal fees, administration, and new project costs. An ending fund balance of $705,923 was carried forward into FY 2020-21 with $161,800 being held in a restricted fund for the final payment of the Broadway Bond. FY 2020-21 budgeted receipts totaled $501,245 with an estimated beginning fund balance of $698,100. Budgeted expenditures for FY 2020-21 total $488,850 with an additional $168,100 remaining in reserve for the Broadway Bond. Expenditures were budgeted for Debt Service, Materials and Services, and Capital Outlay. The Maximum Indebtedness allowed for the Estacada Urban Renewal Plan is $6,600,000. The total indebtedness incurred through FY 2020 was $3,135,221. The impact of the urban renewal plan on the tax collections of other taxing districts in FY 2019-20 resulted in the following amounts: Cemetery $ 1,603.82 Clackamas County $ 82,242.32 Clackamas County Extension and 4H $ 1,380.03 County Library $ 10,965.64 Soil Conservation $ 1,380.03 City of Estacada and Bond $ 79,967.14 Clackamas ESD $ 10,182.38 Estacada Fire 69 $ 66,365.86 Clackamas Community College and Bond $ 19,022.05 Port of Portland $ 1,902.21 Estacada School 108* $ 154,787.11 Vector $ 149.19 Total division of Taxes $ 429,947.78 (*Under Oregon’s current method of funding schools K-12, urban renewal does not cause revenue losses for schools.) Published 02/04/21 and 02/11/21 EN190951

ad: 190951

Publication: Gresham Legals 2

Section: Legals

Start Date: 2021/02/02

End Date: 2021/02/10

Owner: City of Estacada-Assistant City Manager


County: Clackamas