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Moreover, they are developments that would be tax exempt; therefore, they would generate no tax increment for the Urban Renewal District. ~~ The report on the updated plan contains a policy statement by the LTD Board regarding the selection and development of a future transit facility (see Exhibit D). Ms. Ehrman said she was somewhat bothered by the sentence in the statement which reads, liThe station is to be jointly financed by the City of Eugene and the Lane Transit District." She said that although she could envision some City participation in the project, the word IIjointlyll seems to imply something like a 50-50 split, which she does not envision. Mr. Byrne said staff raised the same point with the LTD staff. He said City staff included an introductory remark in Exhibit D prior to the LTD Board's policy statement in order to address the concern expressed by Ms. Ehrman. Part of this introduction reads as follows: "Funding participation by the Renewal Agency could vary by both kind and amount, depending on need and availability of funds. II Ms. Ehrman thanked the members of the Planning Commission and Downtown Commission who attended the meeting. Ms. Bennett expressed appreciation for the council's commitment to downtown, and for its recognition that downtown should be treated as a special part of Eugene because it benefits the entire community. She also expressed appreciation for Mr. Rutan's and others' comments about the importance of private investment downtown. Ms. Ehrman adjourned the meeting at 1:27 p.m. to July 8, 1987. e- Re:~ct~~ ' ,...,'Y'./ '" ~ ~lCC~~SO: - --- City Manager (Recorded by Monty Hindman) mncc0624 ~\ MINUTES--Eugene City Council June 24, 1987 Page 16