Item 7 - Enterprise Zone App. - Laserfiche WebLink

Home Browse Search

Pros. - City would know whether or not its zone designation application was successful prior to expending resources on development and adoption of new standards. - Allows additional time for analysis of new standards and public input. - Public Benefit Criteria can be easily amended in the interim to reflect the minimum 75% tax exemption benefit intended in the proposed enterprise zone. Cons. - New job quality standards would not be in place on July 1, 2005, if the City's zone designation application is successful this year. 3. Defer process for adoption of standards until zone application is approved. Under this option, the process to create job quality standards would not begin until there were assurances that Eugene's zone designation application was successful. Pros. - City would know whether or not its zone designation application was successful prior to expending resources on development and adoption of new standards. - Allows additional time for analysis of new standards and public input. Cons. - If zone designation application is successful in 2005, it is possible that a new investment would qualify for an exemption prior to adoption of standards. CITY MANAGER'S RECOMMENDATION The City Manager recommends adoption of the resolution authorizing the submittal of an application for designation of an enterprise zone in 2005. The City Manager further recommends that the Public Benefit Criteria, as amended in Attachment C, be adopted as interim standards in the event that Eugene's application is successful this year. The interim standards would be adopted by resolution prior to July 1, following notification from the State that Eugene's application is successful. New job quality standards would be created in a timely manner thereafter, in accordance with the process outlined in Option 1 above. SUGGESTED MOTION Move to approve Resolution 4832 authorizing the City Manager to make application to the State of Oregon for designation of a West Eugene Enterprise Zone. Move to direct the City Manager, in the event that Eugene's enterprise zone designation application is approved by the State of Oregon this year, to bring back a resolution prior to July 1, 2005, for adoption of interim local criteria consistent with the Public Benefit Criteria included in Attachment B and amended in Attachment C, with the understanding that new job quality standards would be adopted as soon as practical following notification of a successful designation application, in accordance with the process outlined in Option 1 of this agenda item. L:\CMO\2005 Council Agendas\M050411\S0504117.doc