1. CALL TO ORDER AND ROLL CALL: The meeting was called to order at 2:06 p.m. Chair Welch and Board Members Cutter, Hanes, Kelly and Woodruff answered the roll. Board Member Campbell was excused. Laypersons Beckstead, Canfield, O’Neil, Perkins, Rivers, Tryon and Watson answered the roll. A quorum was present.
2. SELECTION OF BUDGET COMMITTEE CHAIR: Consensus of the Committee was to have Mr. Welch act as Chair of the Budget Committee.
3. DISCUSSION OF WALDPORT URBAN RENEWAL AGENCY BUDGET FOR FY 2007/2008: Mr. Watson asked if there would be additional delays, or would the Downtown Revitalization Project happen this year. Ms. Leonard explained that the specific grant for the project was 1.3M, plus an additional $300,000, for a total of $1.6M in "free" money. The rest of the funds for the project would come from Urban Renewal. Before the project could go out to bid, the City had to make the matching funds available to ODOT. It was originally assumed that the City’s match would be approximately $200,000 but that had been raised to $300,000 by the time of the bid. She noted that even if the Agency had to spend $300,000 to $400,000 it would still be a good project, given the amount of the grant monies. Ms. Leonard noted that the Beginning Working Capital amount needed to be corrected to $168,000 and the Contingency needed to be corrected to $98,233. Mr. Canfield moved to make the needed corrections. Ms. Hanes seconded, and the motion carried unanimously on a voice vote. Ms. Leonard indicated that the $212,000 in the Norwood/Starr Realignment was a carryover from the present fiscal year, but if the bids for the Downtown Revitalization Project are high, the City may need to use that money to cover the additional costs. Discussion ensued regarding other sources of funding as well, such as General Fund monies, and Road District reserves. Mr. Canfield noted that Mr. Schulte is proceeding with his "Whispering Woods" subdivision, which would result in an additional 64 homes on Norwood. Ms. Woodruff stated that the project would be done, and Ms. Leonard agreed. Ms. Rivers asked if the City had considered an additional Urban Renewal area when Urban Renewal #1 sunsets. Ms. Leonard indicated that there could be an extension of the boundaries of Urban Renewal #2 or a new separate district. Discussion ensued, but no further changes were proposed to the budget.
    Mr. Cutter moved to accept the proposed budget as amended and recommend its adoption to the Waldport Urban Renewal Agency. Ms. Rivers seconded, and the motion carried unanimously on a voice vote. Mr. Cutter moved that the Waldport Urban Renewal Budget Committee approve taxes for the 2007/2008 fiscal year at the maximum amount from Division of Taxes and no special levy amount for the Urban Renewal #1 plan. Ms. Rivers seconded, and the motion carried unanimously on a voice vote. Mr. Cutter moved that the Waldport Urban Renewal Budget Committee approve taxes for the 2007/2008 fiscal year at the maximum amount from Division of Taxes for the Urban Renewal #2 Plan. Ms. Rivers seconded, and the motion carried unanimously on a voice vote.
4. ADJOURNMENT: At 2:31 p.m., there being no further business to come before the Committee, the meeting was adjourned.

Respectfully submitted,
Reda A. Quinlan, City Clerk

APPROVED by the Waldport Urban Renewal Agency this 14th day of June, 2007.
SIGNED by the Chair this 14th day of June, 2007.

Susan Woodruff, Chair

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