Resolution No. 4495 - Laserfiche WebLink

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When completed, the site is expected to house more than 300 residents, whose presence will create a new urban neighborhood in the heart of downtown Eugene. These residents should have a positive effect on livability and security in the immediate downtown area. Housing located above the parking structure will create a safer environment as a result of having many interested "eyes" focused on the neighborhood twenty-four hours a day; 2.2.4 An important benefit of the project will be the creation of a streetscape which is pedestrian-friendly. The street-level facades will house commercial uses which will reinforce activity and vitality. These could include cafes, food shops, retail shops, small offices, galleries, and work/live units. These uses will increase public use of the area and also provide an appropriate transition to the mixed-use neighborhood to the west, which is primarily residential; 2.2.5 The project plans to provide secured, covered bicycle parking as one of the public amenities. In addition, appropriate street furniture and landscape features will enhance the spaces adjoining the public right-of-way. The "footprint" of the proj ect has been planned to protect the historic street trees which are located in the public rights-of-way along Lincoln and Broadway; 2.2.6 There is one important long-term public benefit of the project which will become apparent over time. Since the housing and commercial development is located above public parking, there is no urban land being dedicated to private parking. Residents will simply rent parking as necessary. As driving habits and parking demands change over time, the project will allow for the management of parking, rather than creating a land use form which would remain fixed for the life of the project. This allows denser development and a more compact urban form. 2.3 The project was monitored through the City's regular processes with respect to planning, permit and building and safety requirements to insure compliance with all local regulations; 2.4 There are no structures located on the property. Currently the site is paved and is being used as a parking lot; 2.5 The owner has agreed to pay the City's low income housing fee, which during the years three through ten of the exemption period will generate $1 7,120 annually for the City's low income housing fund; 2.6 The owner has stated in the application and provided evidence that the project would not be feasible without the tax exemption because the rent levels would need to be set at a rental rate higher than market;