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<br /> Mr. Hibschman said the existing renewal plan had focused on land acquisition <br /> and on redevelopment of buildings. Since implementation of that plan, he said <br /> e a number of buildings had been constructed on renewal agency land, including <br /> the Hult Center and the Conference Center. He said seven of eight objectives <br /> in the old plan had been achieved, wi th deve 1 opment of the commercial <br /> component still incomplete. He said completed objectives included <br /> consolidation of parking, creating a pedestrian mall, reconstructing <br /> utilities underground, better traffic circulation patterns (creating the one- <br /> way gri d), and providing a setting for the Conference Center and a major <br /> hotel. He said completing the commercial component, implementing the Downtown <br /> Plan, and returning tax-exempt property to tax rolls were the three major <br /> goals of the update. <br /> Mr. Byrne said the renewal plan was a smaller part of the Downtown Plan and <br /> provided tools for implementation as well as a financing vehicle. He noted <br /> that the City had a heavy investment in assets, but no current bondi ng <br /> capacity. He said about 42 percent of the area within renewal boundaries was <br /> public right-of-way, and the rest was private or tax-exempt property. <br /> Mr. Byrne said the goal now was to return sites tD private owners, so that <br /> taxes could be collected. He said tools for accomplishing that included <br /> parking, the ability to negotiate land price accordi ng to the type of <br /> development desired, and financing programs. He said the Downtown Plan called <br /> for intensive development in the downtown core in order to increase <br /> improvement values on the land. <br /> Mr. Byrne said other issues in the Development Strategy included the siting of <br /> e the Lane Transit District station and improvements to public right-of-ways <br /> along Willamette and BrDadway Streets. <br /> Mr. Hibschman reviewed a chart outlining the Development Strategy process. He <br /> said a finance plan would be ready in about three weeks and would describe <br /> envisioned projects, timing, and funding for the projects. He said the <br /> finance plan also would include analysis of the impact of the renewal district <br /> on the tax rate of all affected taxing districts, current and future. He sa i d <br /> any needed amendments to the Downtown Plan would happen concurrently with <br /> hearings on the draft plan. He added that information from the Central Area <br /> Transportation Study would be included. <br /> Mr. Miller asked whether the need for the tax increment district would end as <br /> part of the strategy. Mr. Hibschman said the district could end when debt <br /> service was paid off, in about the years 2002-2005. He said the finance plan <br /> would identify when a bond could be issued, and the inclination was not to <br /> extend past those target dates. He added that the debt service on the <br /> Conference Center would be the last to expire. <br /> Ms. Ehrman asked about the relation between the Urban Renewal Plan and the <br /> Downtown Plan. Mr. Hibschman said the DDwntown Plan had been started in 1982. <br /> It had been adopted and used as a guide for implementing the intent of the <br /> Renewal District. He said the Urban Renewal Plan Update was an implementation <br /> plan for the Downtown Plan. Mr. Hibschman said parts of the Urban Renewal <br /> Plan were obsolete because they had been completed or because of changes in <br /> e MINUTES--Eugene City Council September 10, 1986 Page 2 <br />