City of Eugene
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City Council Minutes
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<br /> / <br /> e M I NUT E S <br /> Eugene City Council <br /> McNutt Room--City Hall <br /> September 18, 1991 <br /> 11 :30 a.m. <br /> COUNCILORS PRESENT: Roger Rutan, Shawn Boles, Ruth Bascom, Bobby Green, <br /> Randy MacDonald, Kaye Robinette, Paul Nicholson, <br /> Debra Ehrman (until 1 p.m.). <br /> The adjourned meeting of September 16, 1991, of the Eugene City Council was <br /> called to order by His Honor Mayor Jeff Miller. <br /> Mayor Miller announced that the agenda has been amended to place the items <br /> from the Mayor, City Council, and City Manager at the end. <br /> I. 8TH AND WILLAMETTE PROJECT UPDATE <br /> Lew Bowers, Planning and Development Department, updated the council on the <br /> status of the 8th and Willamette Street development project and briefly re- <br /> e viewed the project time line. He said that in response to instruction from <br /> the City Council, the City Manager has negotiated a predevelopment agreement <br /> with Lorig Associates, Inc., for the 8th and Wi.llamette site. Lorig Associ- <br /> ates, Inc., has signed the predevelopment agreement and the Development De- <br /> partment has received the good faith deposit. <br /> Mr. Bowers introduced Harris Hoffman and Hugh Prichard, Lorig Associates, <br /> Inc., and Lee Bodenhammer, US Bancorp. <br /> Harris Hoffman, Lorig Associates, Inc., provided the council with a brief <br /> overview of the project. Lorig Associates, Inc., has been developing plans <br /> for the construction of an 80,000- to 100,OOO-square-foot office building <br /> with US Bancorp as the major tenant. Lorig Associates, Inc., and US Bancorp <br /> are currently negotiating a joint venture agreement and a commercial lease <br /> agreement, and are prepared to sign the partnership agreement once the pro- <br /> posed development meets with Office of the Controller of the Currency (OCC) <br /> approval. Mr. Hoffman said that once OCC approval has been obtained, Lorig <br /> Associates, Inc., will formally begin efforts to secure financing for the <br /> project. <br /> Mr. Hoffman commented that the project is continuing to move forward despite <br /> the very difficult economic climate. Lorig Associates, Inc., is very commit- <br /> ted to the project and is eager to proceed. Mr. Hoffman noted, however, that <br /> it is very difficult to predict time lines, particularly in -the cu~rent lend- <br /> e - <br /> MINUTES--Eugene City Council September 18, 1991 Page 1 <br /> - <br />
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