Item 4 - Ordinance on Downtown Urban Renewal Plan Amendments

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Chapter 6: Estimated Total Cost of Each Project or Activity, Sources of Money, and Anticipated Completion Date for Each Project or Activity The 2007 Amendment includes a table showing the project activities to be carried out following the adoption of the amendment and the estimated cost. Table 5 shows that urban renewal financing is estimated to provide $40 million (or approxi- mately 20%) of funding out of an estimated total of $200 million of public and private investment from FY2007/2008 through FY2029/2030. Table 5 List of Project Activities and The Estimated Cost Project Activity Total Estimated Cost Public Improvements 1. Street, curb & sidewalk improvements $1,000,000 2. Public utilities 5,000,000 3. Streetscape projects 1,000,000 4. Pedestrian, bike & transit improvements 0 5. Public parks, public plazas, rest rooms, and open spaces 0 6. Public parking and public transportation facilities 16,000,000 7. Other public facilities 0 Total Public Improvements $23,000,000 Acquisition & Redevelopment 1. Property acquisition $15,000,000 2. Property redevelopment 125,000,000 Total Acquisition & Redevelopment $140,000,000 Administrative Activities (through FY2029/2030) 10,000,000 Development & Redevelopment 10,000,000 Rehabilitation & Conservation 17,000,000 TOTAL PROJECTS – All Funding Sources $200,000,000 Projects Funded from Urban Renewal Agency $40,000,000 Projects Funded from Private Sources 160,000,000 Total Funding for All Projects $200,000,000 Note: Off-site Facilities and Relocation Activities are included in other categories in this chart. Project activities shown in Table 5 will begin in FY2008/2009. Decisions on priori- ties of funding for project activities will be made by the Eugene Urban Renewal Agency in its annual budget process, and regular Agency meetings, all of which are open to the public. The Eugene Redevelopment Advisory Committee advises devel- opment staff on budget and project priorities for the district. All urban renewal fund- ed activities are expected to be completed by June 30, 2030. Report on the Downtown Urban Renewal District Plan – Circulation Draft of July 17, 2007 9