The Knoxville City Council received a revenue presentation from city manager Harold Stewart last night in preparation for the fiscal year 2013 budget. Stewart informed the Council that his initial estimates of revenue show a budget of just more than eight million dollars. If the governor’s proposed property tax rollback goes into effect, the budget could be affected negatively by up to 435,000 dollars. The Council also took the next step in the hotel process, setting a public hearing date for January 27 for the establishment of the Eric Drive Urban Renewal Area. The hearing will take place at 5pm.