Details for City of Coos Bay - Ad from 2020-02-12

101-PUBLIC NOTICES 20357360 Urban Renewal Agency of the City of Coos Bay Notice of Annual Report The Urban Renewal Agency of the City of Coos Bay (Agency) has published the FY 2018/2019 annual report for the Downtown and Empire Urban Renewal Districts. It is on file at Coos Bay City Hall and with the Agency, as well as has been provided to all of the overlapping taxing districts as shown below. The full report is available to all interested persons and can be also found on the city’s website at www.coosbay.org. In FY 2018/2019, property tax revenue received by the Downtown District was $1,203,262 and the Empire District was $764,709, and indebtedness incurred by the Downtown District was $1,414,880 and the Empire District was $618,084. Expenditures from FY 2018/2019 were $1.582,866 for the Downtown District and $1,805,692 for the Empire District. The estimated tax revenues for FY 2019/2020 are $1,261,535 for the Downtown District and $787,953 for the Empire District. The FY 2019/2020 budget for the Downtown District includes $10,720,218 requirements and $8,101,503 requirements for the Empire District. Shown in the tables below: 1) The estimated impact of carrying out the urban renewal plans on the tax collections for the preceding year for all overlapping taxing districts and 2) maximum indebtedness details for the Downtown and Empire Districts. Taxing Jurisdiction Coos County 4H/Extension Coos County Library Services Coos County City of Coos Bay South Coast ESD Coos Bay School District #9 SW Oregon Community College Port Of Coos Bay Coos County Airport Total ImpactDowntown 5,400 44,602 lmpactTotal Impact Empire 4,536 9,936 37, 799 82,401 66,093 389,541 27,107 277,117 42,874 56,050 330,683 23,003 235,215 36,395 122,143 720,224 50,110 512,332 79,269 37,367 14,687 904,788 31,751 12,420 767,852 69,118 27,107 1,672,640 Published: February 12 & 19, 2020 The World & ONPA (ID: 20357360) Downtown 45,055,764 Empire 12,550,011 Total 57,605,775 45,055,764 6,340,000 18,890,011 6,340,000 63,945,775 Maximum lndebtedness used to date ** (16,685,171) (13,991,551) (30,676,722) Maximum Indebtedness remaining 28,370,593 4,898,460 33,269,053 (1,298,291) (3,659,008) (4,957,299) Original Plan Maximum Indebtedness Increase * Maximum lndebtedness limit * lncreased by Ordinance #502, 11/16/18 **Authorized, but not issued

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