07/29/1987 Meeting - Laserfiche WebLink

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development at those sites. Mr. Bennett said he did not think the argument about dep 1 et i ng the Genera 1 Fund was relevant because vacant land would e generate no tax revenues. He sa i d he thought downtown involved broad community support, and he added that tax increment funds should not be used until development occurred. Mr. Miller asked whether the Council was the final authority for approval of the Urban Renewal Area and what would happen if the item were held for three years. Mr. Gleason said the Council was required to amend the plan, which required revi ewi ng a set of findings, holding public hearings, and as designed, referring the plan to the Downtown and Planning Commissions before the Council's decision. He said another plan amendment process would take about nine months. Ms. Bascom said downtowns across the country were proving difficult to maintain, and she thought the tools should be kept available and the focus should be kept clear. Mayor Obie said he was concerned the the Council had assumed too large an initial task in downtown and he wanted to know the financial impact. B. Use of Tax Increment Funds Mr. Holmer said he previously had raised the issue of use of tax increment funds for the benefit of the Hult Center for the Performing Arts. He said the center was in the Urban Renewal Area and it sometimes required capital investments, and he thought that would be a good use of the funds. He said an opinion from the City Attorney's Office indicated that tax increment funds e could be used for the Hult Center with a certain amount of discretion. Mr. Holmer cited types of public improvements permitted in the draft plan (Section 600, A.2.e. and g.) and asked whether councilors favored use of tax increment funds for eligible capital projects at the Hult Center (not for operating costs). Ms. Ehrman and Mr. Miller said they supported such use. Mr. Holmer said staff predicted a small cash flow in that fund for the next two or three years. Mr. Byrne confirmed a small projected cash flow during that time, which he said also would occur along with fairly heavy expenses for mall improvements to the downtown area. He said a list of priorities could be presented to the Council for a decision. He also noted that staff had not included Hult Center expenses in any forecasts done in preparation for the plan. Mr. Holmer asked whether authorization to include those projects was adequate. Mr. Byrne said State law required that the Report on the Urban Renewal Plan, included in the draft plan, list estimates and completion dates for all proj ects. He said project estimates were described beginning on page 6 of the gold section, and staff advi sed that the Council add specifi c project descriptions, including cost estimates and projected years of completion. He said other projects could be added at anytime during the annual budget process, but staff advised that Council make its intent clear by including desired projects. e MINUTES--Eugene City Council July 29, 1987 Page 7