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EUGENE CITY COUNCIL AGENDA ITEM SUMMARY Work Session: Economic Development Committee Recommendation on an Enterprise Zone Meeting Date: March 7, 2005 Agenda Item Number: C Department: Planning and Development Staff Contact: Denny Braud www. cl. eugene, or. us Contact Telephone Number: 682-5536 ISSUE STATEMENT This work session is a continuation of the February 16, 2005, City Council agenda item regarding the Mayor's Committee on Economic Development recommendation specific to designation of an Enterprise Zone in Eugene. BACKGROUND Information was provided in the February 16 Agenda Item Summary. RELATED CITY POLICIES Information was provided in the February 16 Agenda Item Summary. 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 (see Attachment A). Redevelopment, 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 L:\CMO\2005 Council Agendas\M050307\S050307C.doc