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- e e III. THE U OF O'S ROLE IN ECONOMIC DEVELOPMENT Mr. Hersh then expanded upon the interworking of research universities and economic development opportunities. In addition to transmission of knowledge that takes place at universities, some institutions create new knowledge. Institutions that both create knowledge and teach it are unique. The Uni- versity of Oregon is good at this function. This is important because appli- cation of new knowledge creates new industry. Industry feeds on new know- ledge, and universities producing it can act as a magnet for certain kinds of economic development. There are three steps that the University has taken to encourage economic development, as follows: 1. Established the Advanced Science & Technology Insititute, in con- junction with Oregon State University, to offer high technology seminars to corporations. The program and its potential for attrac- tion of industry were described. 2. Created the Southern Willamette Research Corridor concept. This geographic area is being widely publicized to attract business loca- tions within its boundaries. 3. Developed the new idea of a River Front Project (see below). IV. RIVER FRONT PROJECT--CONCEPT AND STATUS Mr. Hersh said that this project involves development of 35 to 60 acres of river front property for light industrial/research facilities. The area stretches from EWEB to the footbridge at Autzen Stadium. Suitable industry would consist of software, biotech, and chemical research facilities. Mr. Genasci described his project design, and displayed a large architectural scale model. This development hopes to integrate the downtown and University. It extends from Broadway east to the University area. This high-density area could be for mixed commercial and residential use. There is a wish to retain the natural beauty of the area. Ms. Wooten asked how the process would work. Mr. Genasci explained the land usage issues and the potential for private investment and/or partnership ideas. The goal is to maintain a heterogeneous planned area versus a tradi- tional research park owned by one company. Many questions have yet to be worked out. V. CITY'S RESPONSE TO RIVER FRONT PROJECT Ms. Brody, Planning Director, then introduced the Planning Department's suggestion for a refinement study of the area. She recommended the formation of a planning team staffed by members of the Planning and Public Works depart- ments. The refinement study would be completed by January 1985. She circu- lated a memo on this subject dated May 29. A recommended work program will be presented to the Planning Commission and City Council within one month for approval. MINUTES--Eugene City Council Dinner Meeting May 29, 1984 Page 2