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it has about Lane County's intentions for the parking lot on Oak between 6th and 7th. ~ Mr. Miller wondered whether expansion would work against the past efforts of the Urban Renewal District, and whether expansion would attract development toward the expansion area and away from the existing district. Mr. Farkas said the densest new development will be likely to occur near parking facilities and the mass transit core. He said he did not expect a proliferation of dense building to occur in the expansion area within the near future. Mr. Miller pointed out that the expansion area is near one of the downtown parking structures. Mr. Gleason said the time frame for removing blight, assembling property, and developing this property is from 10 to 20 years. He said the existing district is in the midst of this cycle, and the expansion area will be just beginning the cycle. Mr. Gleason added that one of the most crucial things for a core area, even more than retail development, is job density. This density, as reflected in vacancy rates, tends to follow a boom-bust cycle in most downtowns. He said there will be several of these cycles before significant development occurs in the expansion area; however, if the initial preparations are not made, the significant development will not occur at all. Mr. Miller asked whether Bancroft financing.could be used to make the initial preparations for development in the expansion area. Mr. Gleason said it could be used; however, this tool is much more effective for new development than for redevelopment. Mr. Bennett said he shared Mr. Miller's concerns about expansion of the ~ district. He said there are some types of development, particularly in the ... area of retail, that could occur in the expansion area and compete with the existing district. Mr. Bennett said that the current district has not yet reached the "critical mass" of development intensity that will be necessary for the development momentum to continue by itself. He said he was worried about whether expansion would work against the effort to reach this "critical mass" in the exi st i ng di stri ct. Ms. Bascom said the expansion area is very much part of the downtown core. Mr. Gleason said staff will work on this issue and try to respond to the council1s concerns at a future meeting. He said staff will also address the council's questions about Hult Center improvements. At 1:40 p.m., Mayor Obie adjourned the meeting. ~~ ~ . 1___ Mic eal Gleaso City Manager (Recorded by Monty Hindman) e MINUTES--Eugene Ci ty Counci 1 September 30, 1987 Page 12