Ordinance No. 20564 - Laserfiche WebLink

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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 This Report on the 2016 Amendment includes the estimated cost of Projects to be carried out following the adoption of the amendment. Table 5 shows that urban renewal financing is estimated to provide $19.4 million (or approximately 83%) of funding out of an estimated total of $23.1 million of public and private investment from FY17 through FY27. Table 5 lists the project activities included in the Plan and estimated cost ranges. Because elements of each project are yet to occur (e.g. public engagement, design engineering for fiber, project negotiations for Farmers' Market, and project scoping for the Old LCC Building), there is a range of opportunities within each project. The estimated range gives a sense of scale and scope. Below is a short description of each of the 2016 Amendment Projects. Parks, Plazas, Farmers' Market, Open Space, Restrooms, and Street Improvements: The City will develop a plan for parks, plazas, and open space improvements, after a public engagement process. The Agency will contribute funding for the improvements. Projects could include improvements to the Park Blocks, reincorporation of the Butterfly Parking Lot, and street improvements in order to make that location more attractive and functional for the community and the Farmers' Market, which may include building a structure. If that location is not feasible, the Agency may improve/purchase another location within the Plan Area. Other open space projects may be developed as a result of the public engagement process. However, tax revenue funds shall not be used to pay for construction of a new City Hall building, nor to pay for a parking lot on the block bounded by Pearl Street, 8th Avenue, High Street, and 7th Avenue. The community work will start in FY17 and the improvements will happen subsequently and following the "community engagement and approval process" identified in the Plan Section 600 A and the Agency Board budget approval process. High -Speed Fiber. The Agency will contribute to the Eugene Fiber Implementation Plan for those costs associated with the Plan Area. This project will enhance the economic prosperity of downtown and increase telecommunications speed for businesses, residents, and public agencies. Federal grants, private party contributions, and other City contributions are anticipated. The project will start in FY17 and is estimated to be completed during FY18. Old LCC Building: LCC is considering redevelopment options for its currently vacant building on Willamette Street between 11th and 10th Avenues. The specific project activities to be undertaken by the Agency will be defined by the Agency Board after the "community engagement and approval process" identified in the Plan Section 600 A and set out in an agreement with LCC. A combination of private party or other public agency contributions is anticipated. LCC has not released timing information for when they will be Report on the 2016 Amendment 13