The Newberg City Council on April 7 adopted a resolution to move a small amount of business license‑derived economic development revenue into the city’s general fund and to begin the process of sunsetting Fund 14, the fund originally created to hold the city’s CET (construction excise tax) receipts.

Katie (staff member) told council that Fund 14 was originally created to host CET funds and later also received annual business license fees used for economic development — approximately $40,000 per year, she said. With CET receipts no longer being collected, the city will transfer the business license revenues to the general fund so Fund 14 will receive no new revenue and can be closed after remaining CET and affordable housing funds are distributed and obligations settled.

Councilor Peggy moved adoption of Resolution Number 202053968; the motion was seconded and approved by voice vote with unanimous assent.

The resolution authorizes the procedural step of moving the specified business license fees to the general fund and directs staff to take subsequent steps to close Fund 14 through a future resolution when outstanding CET and related affordable housing distributions are completed.

The council did not specify an exact date for final dissolution at the meeting; staff said the fund would be closed after the next budget cycle when remaining funds are distributed.