09/28/1983 Meeting - Laserfiche WebLink

Home Browse Search

Mr. Schwartz said the proposed joint venture of the Sonoma Financial Corporation e and the Price Development Company could be a great opportunity for Eugene. He said that there had been little growth in the downtown area over the past three years, with the exception of the Hult Center, the Convention Center, and the Hilton Hotel. He said the proposed agreement would provide the developers with time to study the community, analyze data, consider potential alternatives, and present a package that would be acceptable to both the public and private sectors. He stressed that momentum was needed in the downtown area, stating that the tax base for the area had dropped over the past few years and that gross receipts had stagnated over the same period. He said that a project of this magnitude might have a dynamic impact on the downtown by increasing the tax base and by bringing traffic back to the streets, professional offices, and retail stores. He urged support for the developers to make Eugene the primary shopping area in central and southern Oregon. Mr. Burns introduced several staff members of the Sonoma Financial Corporation and complimented the City staff involved with the project. He said he saw great potential for the Eugene downtown area, adding that the area was far below what it could be. He said that his firm thought the time was appropriate to redevelop the area. He said that he had been involved in redevelopment for 20 years and said the key to a successful downtown was getting people into the area. He said a regional shopping center was the best method of accomplishing this goal, listing the cities of Sacramento, Los Angeles, and Santa Rosa as examples of areas where this method had proven successful. He said that his firm was aware of the concerns of the neighbors and the businesspersons and that they understood the competition aspect of development. He said that the Price Development Company was experienced in the development of regional shopping centers and the e Sonoma Financial Corporation brought financing capabilities to the project. Mr. Burns stated that the agreement was to undertake a study to determine if the proposed project was practical and feasible. He stressed that the agreement was not a commitment to build, adding that the next agreement would be to build the center if the study proved successful. He said that he was ready to present a letter of credit in the amount of $100,000 as a sign of good faith. He compli- mented the council for taking on the project. Councilor Holmer said he had attended the commission meeting where the agreement had been recommended. He said one commissioner had stated concern with the development of a second regional shopping center which closed at 9 p.m. on weekdays and 6 p.m. on weekends. He said that this would not contribute to the development of the vibrant downtown that the Hult Center is anchoring at one end. Mr. Burns responded that any method successful in keeping people in the downtown area after 5 p.m. would be an accomplishment. He said that the busi- nesses around the regional shopping centers would enjoy a spin-off effect from its business. He said that certain parts of the center could be left open but said that most centers of this type would not be open past 10 p.m. Mayor Keller thanked Mr. Burns for his presentation, stating that it had been the hope of the council for the past eight years to make the downtown a vital part of Eugene. He said he was encouraged by the enthusiasm of the developers and would support the agreement. He said that everyone had experienced some frustration hoping that such a project would become a reality. e MINUTES--Eugene City Council September 28, 1983 Page 5