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COUNCIL OPTIONS Three options have been identified: 1. Mayor's Committee Recommendation: Proceed with application to the State of Oregon in 2005. The boundary would include the prior (expired) West Eugene Enterprise Zone boundary, plus a limited amount of adjacent industrial property that was not included in the previous boundary. Revevelopment, infill, and brownfield redevelopment projects would receive the standard (100%) three-year tax exemption. Greenfield development would be subject to additional job quality standards, with the last one-third of the tax exemption conditioned on job quality (minimum exemption = 66%, maximum exemption = 100%). Job quality standards would be adopted prior to establishment of the zone. Pros: Supports Mayor's Committee recommendation Addresses sustainability goals by providing the maximum benefit for redevelopment, infill, and brownfield redevelopment Conditions greenfield development, and appears to adhere to State statutes and rules regarding the reasonableness of additional local conditions Provides opportunity, if selected by the State, to have the enterprise zone operating on July 1, 2005 Cons: Expect significant competition from two expiring zones in the 2005 State application round. 2. Restricted Boundary_: Proceed with application to the State of Oregon in 2005, with a smaller, restricted boundary. The council previously considered an option that would eliminate greenfield development sites from the proposed boundary (see Attachment B). In this option, all eligible projects would be focused on redevelopment, infill, or brownfield redevelopment projects; therefore, all eligible projects would receive the standard (100%) three-year tax exemption. Pros: Zone more focused on the City's sustainability goals Zone boundary could be expanded in the future if desired Opportunities for new construction are still available on vacant infill sites within the restricted boundary Restricted boundary would still include a majority of the area recommended by the Mayor's Committee Provides opportunity, if selected by the State, to have the enterprise zone operating on July 1, 2005 Reduces the City's administrative burden associated with monitoring compliance with additional local criteria Cons: - May lose opportunity to attract high value, large job creation projects that are specifically seeking larger greenfield sites Not entirely consistent with the Mayor's Committee recommendation Expect significant competition from the two expiring zones in the 2005 State application round L:\CMO\2005 Council Agendas\M050216\S050216A. doc