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3. Following or concurrently with the presentation of the information in paragraph 2, a <br />public hearing shall be held to allow the public to comment directly to the elected <br />officials on whether a specific project should move forward, and if so, how it should <br />be funded. <br />4. Following the public hearing, the Agency Board may authorize the use of tax <br />increment financing for the specific project or projects that were the subject of the <br />public hearing, or alternatively, decide that a different funding mechanism should be <br />used for all or part of the cost of constructing the project. <br />B. PUBLIC UTILITIES: High -Speed Fiber <br />The Agency may assist with the Eugene Fiber Implementation Plan to extend the municipal <br />high-speed fiber network to downtown buildings and to establish the high-speed <br />connection between local and regional internet exchanges for costs attributable to the Plan <br />Area using tax increment funds not to exceed $3 million. <br />Installing Downtown Fiber: The 2013 City of Eugene Broadband Strategic Plan identified <br />the development of a downtown fiber network as a strategic goal. After completion of the <br />Strategic Plan, City staff worked with Lane Council of Governments (LCOG) and the Eugene <br />Water and Electric Board (EWEB) on a successful pilot project, to test the feasibility of <br />implementing a downtown network. The City, EWEB, and LCOG identified a workable <br />method to connect several commercial buildings by running fiber optics cables through <br />existing electrical conduit. With LCOG, EWEB, and the Technology Association of Oregon, <br />the Fiber Implementation Plan a) calls to construct fiber connections to additional <br />downtown buildings and b) includes the costs and benefits of leasing a publicly operated <br />connection from a local internet connection point to large, regional internet exchanges. <br />High-speed fiber will serve and benefit the Plan Area because: (1) existing businesses and <br />new businesses benefiting from the high speed and competitive market will grow <br />employment and attract new investments to the Plan Area; (2) residents of housing in the <br />Plan Area will have an added benefit for living within in the Plan Area; and (3), and public <br />agencies will have reduced costs and increased telecommunication speed. <br />C. OTHER PUBLIC FACILITIES: Old LCC Building <br />The Agency may provide up to $6 million in tax increment funds as part of redevelopment <br />of the Old LCC Building, which may include housing or activities that advance the Regional <br />Prosperity Economic Development Plan (e.g., an innovation center with maker space, wet <br />lab, or art/tech incubator). The building will benefit the Plan Area by increasing public <br />usage of the area and stimulating additional public and private investment. This work <br />would include Lane Community College and could include collaboration with others. <br />Prior to the approval of tax increment funds for construction of these improvements the <br />Agency shall follow the public input and approval process identified in subsection A of this <br />section 600. <br />Downtown Urban Renewal Plan - 2016 Amendment <br />