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Mr. Rutan said the major issues for the councilors to discuss are what they want to do with the Urban Renewal District and how to accomplish those goals. e Answering questions from Mayor Obie and Ms. Wooten, Mr. Hibschman discussed the criteria for urban renewal areas and present capacities of the downtown and Riverfront tax increment districts. Mr. Byrne said the Federal Tax Reform Act probably will retard the growth of real estate investment. He said tax increment districts can issue taxable bonds. Mr. Byrne reviewed the Report on the Urban Renewal Plan. Answering questions from Ms. Schue, Mr. Byrne said there was no time limit for the existing tax increment district and the debt service extends to 2003. State law requires a specific time period for urban renewal districts. The staff recommends 20 years for the Urban Renewal Plan Update. . Mr. Hansen said he would 1 i ke to know how much property taxes woul d be increased in the renewal district and in the entire community if the Urban Renewal District is expanded. Replying to questions from Ms. Wooten, Mr. Byrne sa i d the focus for development is on the 8th and Willamette site because it is across the street from the Parcade which has excess capacity. The 8th and Willamette site could be developed quicker with less public investment than other sites. The 11 th and Willamette site is also important for redevelopment. The Downtown Commission does not intend to create incentives by land write-downs for other properties. The market will control the speed of development. Mr. Gleason said City-owned properties in the downtown have not been offered for sale for - some time. Mr. Byrne added that the existing tax increment district has no bonding capacity and will not have any until there is additional development in the district. He said additional private development in the downtown is necessary to implement projects in the Downtown Plan. Replying to questions from Ms. Schue and Mr. Hansen, Mr. Byrne said the area proposed for expansion of the Urban Renewal District has potential for development. He said additional parking will be required but bond measures could be used to build parking structures. Answering questions from Mr. Holmer and Ms. Bascom, Mr. Byrne said the report is a technical document to support the Urban Renewal Plan. Each year the counci 1 wi 11 have to decide during the budget process whether to construct projects with the available funds or to float bonds with the funds. Most of the proposed parking structures will have mixed uses. He said the LTD transit station may not be within the Urban Renewal District and, in that case, tax increment funds will not be used for it. Ms. Wooten discussed several of the projects in the report. Answering her questions, Mr. Byrne said the council must decide how it would like the Central Plaza to perform. Another project in the renewal plan is an unspecified large public space. The costs for the public space are high because they include the cost of acquiring two quarter blocks, relocation of tenants, and construction of the public space. e MINUTES--Eugene City Council October 13, 1986 Page 4