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Mr. Hibschman said the existing renewal plan had focused on land acquisition and on redevelopment of buildings. Since implementation of that plan, he said e a number of buildings had been constructed on renewal agency land, including the Hult Center and the Conference Center. He said seven of eight objectives in the old plan had been achieved, wi th deve 1 opment of the commercial component still incomplete. He said completed objectives included consolidation of parking, creating a pedestrian mall, reconstructing utilities underground, better traffic circulation patterns (creating the one- way gri d), and providing a setting for the Conference Center and a major hotel. He said completing the commercial component, implementing the Downtown Plan, and returning tax-exempt property to tax rolls were the three major goals of the update. Mr. Byrne said the renewal plan was a smaller part of the Downtown Plan and provided tools for implementation as well as a financing vehicle. He noted that the City had a heavy investment in assets, but no current bondi ng capacity. He said about 42 percent of the area within renewal boundaries was public right-of-way, and the rest was private or tax-exempt property. Mr. Byrne said the goal now was to return sites tD private owners, so that taxes could be collected. He said tools for accomplishing that included parking, the ability to negotiate land price accordi ng to the type of development desired, and financing programs. He said the Downtown Plan called for intensive development in the downtown core in order to increase improvement values on the land. Mr. Byrne said other issues in the Development Strategy included the siting of e the Lane Transit District station and improvements to public right-of-ways along Willamette and BrDadway Streets. Mr. Hibschman reviewed a chart outlining the Development Strategy process. He said a finance plan would be ready in about three weeks and would describe envisioned projects, timing, and funding for the projects. He said the finance plan also would include analysis of the impact of the renewal district on the tax rate of all affected taxing districts, current and future. He sa i d any needed amendments to the Downtown Plan would happen concurrently with hearings on the draft plan. He added that information from the Central Area Transportation Study would be included. Mr. Miller asked whether the need for the tax increment district would end as part of the strategy. Mr. Hibschman said the district could end when debt service was paid off, in about the years 2002-2005. He said the finance plan would identify when a bond could be issued, and the inclination was not to extend past those target dates. He added that the debt service on the Conference Center would be the last to expire. Ms. Ehrman asked about the relation between the Urban Renewal Plan and the Downtown Plan. Mr. Hibschman said the DDwntown Plan had been started in 1982. It had been adopted and used as a guide for implementing the intent of the Renewal District. He said the Urban Renewal Plan Update was an implementation plan for the Downtown Plan. Mr. Hibschman said parts of the Urban Renewal Plan were obsolete because they had been completed or because of changes in e MINUTES--Eugene City Council September 10, 1986 Page 2