Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
<br /> and Councilor Holmer voting nay. <br />e Mr. Hansen recessed the meeting of the Eugene City Council and convened a <br /> meeting of the Eugene Urban Renewal Agency. <br /> VI. RESOLUTIONS CONCERNING DOWNTOWN SITE DEVELOPMENT (memo, resolutions <br /> distributed <br /> City Manager Micheal Gleason introduced the agenda item. Finance Director <br /> Warren Wong gave the staff report. He said the proposed resolutions <br /> reaffirm the intent of the Urban Renewal Agency and the City Council to <br /> market publicly-owned property in the downtown for deve 1 opment. The <br /> resolutions also provide evidence that tax increment financing will be <br /> used for public improvements and they will assist the City if the Tax <br /> Reform Act is passed by the United States Congress. <br /> Answering questions from Ms. Schue, Mr. Wong said the proposed resolutions <br /> will provide financing for parking structures in the downtown. He said <br /> the resolutions ~o not authorize bond issues or contracts for public <br /> improvements. <br /> Replying to questions from Mr. Rutan, Mr. Wong said tax increment funds <br /> will be used for public capital improvements. He said the City might <br /> agree that a specific developer could use a certain number of parking <br /> spaces in a parking structure. The resolutions indicate that the City <br /> will provide such things as open spaces, relocate utilities, or prepare <br />e the site. <br /> Responding to questions from Mr. Holmer, Mr. Gleason said the Bancroft <br /> system finances improvements for residential properties. Mr. Wong said <br /> the Sewer Fund or the Systems Development Fund pays for the public share <br /> of improvements for which the Bancroft system finances the private share. <br /> He said the City may not be able to issue tax exempt bonds for the <br /> improvements if, for example, a part of a parking structure is reserved <br /> for a specific developer. <br /> Answering a question from Ms. Wooten, Mr. Wong said the Senate Tax Reform <br /> Bill contains a transition rule that will exempt the Riverfront Research <br /> Park from the new requirements of the Tax Reform Act. <br /> Res. No. 0922--A resolution declaring the intent to <br /> continue financing of redevelopment of <br /> publicly owned sites in the Central Eugene <br /> Project area through issuance of tax <br /> increment bonds. <br /> Ms. Ehrman moved, seconded by Ms. Schue, to adopt the <br /> resolution. Roll call vote; the motion carried 7:1 with <br />e MINUTES--Eugene City Council July 16, 1986 Page 10 <br />