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charter, or any other applicable local, State or Federal laws regulating the use of property
<br />within an urban renewal area.
<br />Section 600 - Urban Renewal Projects
<br />To achieve the objectives of this Plan, the Agency may incur indebtedness to finance the
<br />following urban renewal projects, and no others, and may pay that indebtedness with tax
<br />increment funds:
<br />A. PUBLIC PARKS, PUBLIC PLAZAS, FARMERS' MARKET, PUBLIC
<br />RESTROOMS, PUBLIC OPEN SPACES, AND STREETS
<br />Former Section 600 A of the Plan authorized the Agency to participate in funding
<br />infrastructure improvements to the Park Blocks in order to make that location more
<br />attractive and functional for the Farmers' Market. Beginning with the effective date of the
<br />2016 Amendment, the Agency will also be able to use tax increment funds in the Plan Area
<br />to help create an improved permanent Farmers' Market (not to exceed an additional $4
<br />million of such funds), as well as to improve any public parks, public plazas, restrooms,
<br />open spaces, streets, and sidewalks within the Plan Area (not to exceed $5.2 million of such
<br />funds). The Agency may spend tax increment funds on infrastructure improvements to
<br />these elements that may include the design, acquisition, construction or rehabilitation of
<br />public spaces, or parks or public facilities within the Plan Area, including but not limited to
<br />shelters, buildings, landscaping, walkways, plazas, accessibility improvements, lighting,
<br />furniture, and art. A portion of that total may also be spent on changes to the surrounding
<br />streets (e.g. 8th Avenue, Oak Street, and Park Street), reincorporating the site of the
<br />Butterfly Parking Lot as part of the historic four corners of the Park Blocks, and connecting
<br />the public spaces as part of the Willamette to Willamette Initiative. However, tax revenue
<br />funds shall not be used to pay for construction of a new City Hall building, nor to pay for a
<br />parking lot on the block bounded by Pearl Street, 8th Avenue, High Street, and 7th Avenue.
<br />Community Engagement & Approval Process: Prior to the approval of construction for any
<br />of the improvements authorized by this subsection A, the Agency shall complete the
<br />following activities:
<br />The community will be invited to share their aspirations and vision for the public
<br />parks, plazas, open spaces and streets in the Plan Area. In addition, the community
<br />will be invited to share ideas about an improved permanent Farmers' Market before
<br />funding can be approved for construction.
<br />2. Agency staff shall present to the City's elected officials the information from the
<br />community engagement activities identified in paragraph 1. In addition, staff will
<br />estimate costs for the specific project or projects, as well as possible funding
<br />mechanisms that could be authorized by either the Agency Board or the City
<br />Council, including such mechanisms as tax increment financing, grants, General
<br />Obligation bonds, General Fund dollars, and private contributions.
<br />Downtown Urban Renewal Plan - 2016 Amendment
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