Estacada Urban Renewal Agency

Estacada Urban Renewal Agency Notice of Annual Financial Report January 24, 2022 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 In summary, the FY 2020-21 receipts totaled $514,696 with a beginning fund balance of $705,923, and expenditures totaled $343,181. Expenditures were made for principal and interest payments, audit, consulting and legal fees, administration, and new project costs. An ending fund balance of $877,438 was carried forward into FY 2021-22 with $161,825 being held in a restricted fund for the final payment of the Broadway Bond. FY 2021-22 budgeted receipts totaled $488,360 with an estimated beginning fund balance of $772,000. Budgeted expenditures for FY 2021-22 total $755,500 with an additional $168,125 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 2021 was $3,245,221. The impact of the urban renewal plan on the tax collections of other taxing districts in FY 2020-21 resulted in the following amounts: Cemetery $1,754.96 Clackamas County $88,750.83 Clackamas County Extension and 4H $1,462.47 County Library $11,825.10 Soil Conservation $1,462.47 City of Estacada and Bond $85,616.98 Clackamas ESD $10,989.40 Estacada Fire 69 $71,636.29 Clackamas Community College and Bond $16,630.33 Port of Portland $2,089.24 Estacada School 108* $160,537.04 Vector $167.14 Total division of Taxes $452,922.25 (*Under Oregon’s current method of funding schools K-12, urban renewal does not cause revenue losses for schools.) Published 01/27/22 and 02/03/22 EN229662

ad: 229662

Publication: Gresham Legals 2

Section: Legals

Start Date: 2022/01/25

End Date: 2022/02/03

Owner: City of Estacada-Assistant City Manager


County: Clackamas