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RDA financial report: affordable-housing funds exhausted; projected unrestricted balance and pending grants noted
Summary
Administrator Rindy reported affordable-housing funds have been exhausted, leaving the RDA to rely on unrestricted funds with a projected balance just under $150,000, about $49,000 pending for prior grants, and an expected $120,000 city contribution in January.
Administrator Rindy presented the RDA’s financial report and said the authority has spent through its affordable-housing-restricted funds and is now operating from unrestricted funds. Rindy said there is about "just under 49,000" pending for previously approved curb or housing improvement program grants and estimated a projected balance of just under $150,000 after those pending items.
Rindy also told members the transcripted balance string was unclear in the record; she said the RDA will receive an expected $120,000 from the city in January. The board did not change policy in response to the report but members discussed that using RDA dollars on the Eugene Hotel restoration will consume a substantial portion of what remains and asked staff to review long-term funding options and possible future revenue tied to TID 7 closing in 2033.
