Item 4 - Ordinance on Downtown Urban Renewal Plan Amendments

Home Browse Search

ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Action: An Ordinance Adopting an Amended Urban Renewal Plan for the Downtown Urban Renewal District, Formerly the Central Eugene Project Meeting Date: August 13, 2007 Agenda Item Number: 4 Department: Central Services Staff Contact: Sue Cutsogeorge www.eugene-or.gov Contact Telephone Number: 682-5589 ISSUE STATEMENT The council is asked to approve an ordinance amending the Downtown Urban Renewal Plan, as set out in Attachment A. The main amendments are to increase the maximum indebtedness limit by $40 million and to extend the termination date to June 30, 2030. BACKGROUND The full Urban Renewal Agency (URA) and City Council action history for the current West Broadway redevelopment effort, as well as for the Brownfield Economic Development Initiative (BEDI) grant, HUD Section 108 loan, and Downtown Urban Renewal District is included as Attachment B. On May 29, the council (acting as the Urban Renewal Agency Board) began the process for making substantial amendments to the Downtown Urban Renewal Plan. The agency passed the following motion: Move to forward to the Planning Commission and overlapping taxing districts the proposed amendments to the Downtown Urban Renewal Plan, consistent with the draft plan and report included in Attachments D and E, except that the amendments shall include an increased maximum indebtedness of $40 million, for a total of $73 million and an extension of the termination date from June 30, 2024 to June 30, 2030. On July 16, the council held a public hearing on the ordinance to amend the plan. Twelve individuals spoke at the public hearing. At that meeting, Councilor Bettman requested a minor change in both the ordinance and the report on the plan. Both changes are included in the attached materials and marked to show the changed language. Urban Renewal Plan Amendments Today’s requested action is to approve an ordinance amending the Downtown Urban Renewal Plan. Urban renewal is an important tool to fund the City’s contribution to the West Broadway public/private partnership, and the amendment is necessary to accommodate this redevelopment effort. Two amendments to the Downtown Urban Renewal Plan are proposed at this time: (i) increase maximum indebtedness by $40 million, for a total of $73 million; and (ii) extend the termination date from June 30, 2024, to June 30, 2030. Attachment A includes the ordinance making these plan amendments. Councilor Bettman requested a wording change at the July 16 council meeting. That L:\CMO\2007 Council Agendas\M070813\S0708134.doc