Each year, urban renewal agencies must report to the governing body and the general public on the financial impact of carrying out urban renewal plans on the tax collections for each of the overlapping governmental units within the agency’s urban renewal districts. This Annual Report provides for all reporting requirements specified in Oregon Revised Statutes 457.460, which can be found at: https://www.oregonlegislature.gov/bills_laws/ors/ors457.html.
Each year this annual report will provide the following information:
The amount of tax increment financing revenues received during the preceding fiscal year and from borrowings in the previous fiscal year
The purposes and amounts for which any money received was expended during the preceding fiscal year
The adopted budget setting forth the purposes and estimated amounts for which the moneys which have been or will be received under tax increment financing and from Agency borrowings are to be expended during the current fiscal year (including an estimate of moneys to be received during the current fiscal year from tax increment financing revenues and borrowings)
An analysis of the impact, if any, of carrying out the urban renewal plan on the tax collections for the preceding year for all taxing districts included under ORS 457.430
As FY’18 is the first year of operations and tax increment collections for the Urban Renewal Agency, the first year’s annual report for the Agency only contains forward looking information about the FY’18 budget and no information about fiscal activities in the previous fiscal year.