City of Eugene
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11/2/2006 4:21:06 PM
City Council Minutes
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<br /> M I NUT E S <br /> e Eugene City Council Dinner Work Session <br /> Eugene Community Conference Center--Studio A <br /> October 13, 1986 <br /> 5:30 p.m. <br /> COUNCILORS PRESENT: Richard Hansen, Emily Schue, Cynthia Wooten, Freeman <br /> Holmer, Ruth Bascom, Roger Rutan, Jeff Miller. <br /> COUNCILORS ABSENT: Debra Ehrman. <br /> Mayor Obie called the work session to order. <br /> 1. DEVELOPMENT STRATEGY (URBAN RENEWAL PLAN UPDATE) <br /> Greg Byrne of the Development Department said the purpose of an urban renewal <br /> plan is to assemble and entitle land and to create a financing method that is <br /> not generally available to municipal governments. The fi nanci ng method <br /> stabilizes the tax base and finances improvement projects that cannot be <br /> financed from the General Fund. He said the purpose of updating the Urban <br /> Renewal Plan is to complete some goals of the original Urban Renewal Plan and <br /> to implement the Downtown Plan. He said the Downtown Urban Renewal District <br /> e contributes about $400,000 annually to the City's General Fund. <br /> Answering questions from several councilors, Mr. Byrne said the Urban Renewal <br /> District annually contributes about $1.89 million to the Tax Increment Fund. <br /> About $1.3 million is used for annual debt service. <br /> Mr. Rutan said he would like to know how much the tax increment district costs <br /> the average Eugenean annually. Mr. Gleason discussed the assumption that <br /> property in the downtown would have increased in value if the tax increment <br /> district had not been formed. <br /> Replying to questions from Ms. Schue, Mr. Byrne said that taxes on the frozen <br /> base of the Urban Renewal District are distributed among the jurisdictions in <br /> the usual way but taxes on the added value all go to the Tax Increment Fund <br /> for reinvestment in the Urban Renewal District. <br /> Answering questions from Mr. Hansen, Mr. Byrne said the tax base that was <br /> frozen in 1969 was $39 million. Mr. Hibschman of the Development Department <br /> said the assessed value of property in the Urban Renewal District is about <br /> $100,000,000 now. <br /> Responding to a question from Mr. Holmer, Mr. Byrne said no tax increment <br /> funds or other City funds were spent on the widening of 6th and 7th avenues and <br /> e MINUTES--Eugene City Council October 13, 1986 Page 1 <br />
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