Resolution No. 5146 - Laserfiche WebLink

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As the local economy has diversified away from dependence on resource-based and manufacturing industries, the Eugene-Springfield area has also become an increasingly important center for health services in Western Oregon. The University District campus is home to the Center for Medical Education and Research, a partnership among the University of Oregon, Oregon Health Sciences University and Sacred Heart to train new physicians. The campus employs more than 1,250 people and serves to strengthen the city’s health care sector. With the federal Affordable Care Act of 2010 now fully implemented, the number of Oregonians uninsured has dropped, providing greater payment stability to hospitals, clinics and the city’s economy. Kaiser Permanente, one of the nation’s largest nonprofit health care providers serving 9.6 million people, is planning to enter the Eugene market in 2016 by opening two new clinics. Additionally, the U.S. Department of Veterans Affairs is working to complete a $60.0 to $80.0 million clinic in north Eugene that is expected to employ 235 people and scheduled to open in January 2016. PeaceHealth Medical Group is the area’s second largest employer with approximately 4,200 jobs. Eugene’s economy has been aided by large construction projects at the University of Oregon, expansion in health care services, growth in the food and beverage sector, hospitality and events. Several recent projects at the University have boosted local construction activity such as the recent completion of a $50.0 million expansion of the student recreation center that opened earlier in 2015. Additionally, a $95.0 million expansion and renovation of the Erb Memorial Union is expected to be completed in 2016. Large real estate firms have also made recent moves into the student housing market; Principal Financial Group, an Iowa-based Fortune 500 firm, purchased a six-story student apartment complex for $45.5 million in March and American Campus Communities is completing a $65.0 million apartment building scheduled to open in 2015. Eugene’s food and beverage industry continues to thrive by responding to consumer preferences for local products. Small-scale agriculture, specialty food stores, breweries and restaurants have synergized into a food manufacturing cluster that has grown over the last 10 years despite a slowdown in other sectors of the economy. Larger natural food companies have taken notice. Whole Foods plans to build a $3.25 million, 34,000 square foot store that will open in downtown Eugene in 2016. Eugene will again host the U.S. Olympic Team Trials for track and field in 2016. The University’s venerable Hayward Field, which has received multi-million dollar upgrades, will host the event that draws approximately 20,000 visitors. Eugene was also recently selected by the International Association of Athletics Federation (IAAF) to host the 2021 World Outdoor Track and Field Championship, marking the first time this prestigious event has been held in the United States. Large events are helping to expand the city’s lodging amenities. Hilton Hotels is planning to complete a new 120-room hotel in downtown Eugene by spring 2016, and Hyatt is scheduled to open a new 124-room hotel just north of downtown by summer 2016. These and other developments are helping the city evolve and grow from its traditional lumber and manufacturing based economy. Eugene is also investing in its transportation system. The City is now midway through a ten-year program of major street repair projects that accelerated in 2012 when Eugene voters resoundingly approved a $43.0 million bond measure to repair 76 streets, as well as bicycle and pedestrian projects. FY15 was the first year the voter approved property taxes were levied for the street repair projects. The Eugene Water and Electric Board’s (EWEB) waterfront property is the largest area available for redevelopment in downtown Eugene. In addition to working to revitalize the core area of downtown, elected officials and staff from both the City and EWEB have been working in partnership with community members to determine the desired mix of uses on the site and to transform the existing industrial site to a downtown riverfront. In 2013, the City Council adopted a series of land use amendments including new land use designations and special area zoning for the site. The next key steps involve the selection of a developer to lead the transformation of the waterfront property, negotiations for property acquisition and a development agreement before any redevelopment scenario can begin. Although it may be some time before the anticipated uses including housing and restaurants are completed, redevelopment of this important site is moving forward with the goal of creating an urban, active, sustainable riverfront for the entire community to enjoy. Long-term Financial Planning The City of Eugene recognizes the importance of strategic long-term financial planning. Each year, forecasts are rting fund for the next six fiscal years. These forecasts prepared to estimate the financial health of each major repo are designed to inform policy makers about the long-term impacts of pending budget decisions and other potential financial dynamics for City operations. The City also utilizes three additional important planning documents: the Capital Improvement Program, the Multi-Year Financial Plan and the Debt Capacity Analysis. 4