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<br />ECC <br />UGENE ITY OUNCIL <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br />Work Session: East Broadway Development Update <br /> <br /> <br />Meeting Date: February 8, 2006 Agenda Item Number: B <br />Department: Planning and Development Staff Contact: Nan Laurence <br />www.eugene-or.gov Contact Telephone Number: 682-5340 <br /> <br /> <br /> <br /> <br />ISSUE STATEMENT <br /> <br />This work session will provide information on the Whole Foods Development Project. The <br />council is asked to provide direction to the City Manager to begin negotiation of 1) a land <br />transaction with the Shedd Institute for the Arts; and 2) a development agreement and other <br />related legal documents between the City, Broadway High Associates (representing the G <br />Group) and Gerding/Edlen Developers (GED) specifying the terms of the development and the <br />City’s participation. This is the first of two work sessions anticipated for this project. <br /> <br /> <br />BACKGROUND <br />The Downtown Plan promotes a vision for a strong, active, distinctive urban center, and <br />collaborative public/private projects. The proposed Whole Foods Development Project is a <br />significant step towards implementation of that vision. The proposed project addresses the <br />City’s commitment to working with private developers and using economic tools such as parking <br />to leverage desired development. This proposal will contribute to the revitalization of the east <br />end of downtown and the Courthouse District. The proposal will also add to the character and <br />th <br />activity along Broadway and 8 Avenue, both identified as Great Streets in the Downtown Plan. <br />The project will result in a new downtown destination and additional parking in a key location to <br />stimulate future investment. <br /> <br />The Whole Foods Development Project will occupy the entire block bounded by High and Mill <br />th <br />Streets, 8 Avenue and Broadway (Attachment A provides a project location diagram.) There are <br />three main elements of the project: land assembly, development plan, and project costs. These <br />elements are discussed below. Based on council action, these will become the basis of a <br />development agreement between the City, GED and Broadway High Associates and a land <br />transaction between the City and the Shedd Institute for the Arts. <br /> <br />Land Assembly <br />Currently, the property proposed for this project is in three separate ownerships: The Shedd <br />Institute for the Arts, the G Group, and the Oregon Central Credit Union. Gerding/Edlen <br />Developers, working under the direction of the G Group, negotiated a letter of intent with the <br />credit union to participate in the project. The G Group has proposed that the City engage in a <br />land transaction to exchange property owned by the City immediately across High Street with the <br /> <br /> <br /> <br />L:\CMO\2006 Council Agendas\M060208\S060208B.doc <br /> <br />