(A resolution approving a supplemental budget for 2011-12 for the Waterfront Plan Fund)
WHEREAS, ORS 294.480 allows the Agency to adopt a supplemental budget by resolution of the governing body;
WHEREAS the Agency’s 2011-2012 budget estimated $32,000 in tax increment financing revenues from Hood River County for the Waterfront Plan district; and
WHEREAS, it is now projected that $95,000 of total tax increment financing revenues from Hood River County for the Waterfront Plan district will be receipted during FY 2011-12; and
WHEREAS, it is necessary to adopt a supplemental budget to recognize these additional revenues;
WHEREAS, the estimated expenditures contained in the supplemental budget attached as Exhibit A differ by 10 percent or more of any one of the individual funds contained in the regular budget requiring notice and a public hearing; and
WHEREAS, the Agency published the supplemental budget and provided notice as required by ORS 294.480(4) and held a public hearing on February 23, 2012, to consider the proposed supplemental budget.
NOW, THEREFORE, BE IT RESOLVED by the Urban Renewal Agency of the City of Hood River that the supplemental budget as shown on the attached Exhibit A is adopted.
Approved by the Urban Renewal Agency of the City of Hood River this 23 day of February, 2012, to take effect immediately.
Hoby Streich, Chair
Jennifer Gray, City Recorder