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Urban Renewal Agency budget committee accepts 2024 report; $4.5M fund balance mostly in North Gateway URD
Summary
The Lebanon Urban Renewal Agency budget committee accepted the agency's small, separate financial report on Aug. 27. Staff reported a roughly $4.5 million fund balance, largely in the North Gateway urban renewal district, and said the agency is holding cash to potentially accelerate debt paydown and to fund planned projects.
The Lebanon Urban Renewal Agency budget committee accepted its FY2024 summary report during a brief adjourned session on Aug. 27. Finance staff summarized the urban renewal report as smaller than the city-wide audit and noted the agency is a blended component unit for reporting purposes. Staff said the urban renewal…
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