01/06/1988 Meeting - Laserfiche WebLink

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e funds to attract the events. Mr. Whitlow said there will be a growing increment of money from room tax proceeds that will be available for such a use. Ms. Wooten said she would discuss the marketing plan further with Mr. Rutan and Mr. Whitlow. Ms. Ehrman asked if there are plans to install a plaque recognizing the City's contribution. Mr. Rutan said there are no such plans; however, there will be public recognition for those who sponsor lanes, of which the City is one. Mr. Holmer congratulated Mr. Whitlow for his work on the agreement. esoecially Section 3. Mayor Obie also thanked Mr. Whitlow for his work. In addition to considering the marketing aspect, Mayor Obie said the City should consider a sinking fund in the event that room tax revenues drop. He said he was particularly pleased about the public access that will be available. Ms_ Ehrman mov~d! seconded by Mr. Holmer, to authorize an agreement with the State of Oregon regarding the renovation of Hayward Field. Roll call vote; the motion carried unanimously, 8:0. Mayor Obi e added the City of Sori ngfi e 1 d shoul d be commended for its cooperation in the agreement. He said he has requested staff to prepare a letter formally thanking the Springfield City Council. e XII. RESOLUTION ADOPTING A DEVELOPMENT PLAN REGARDING BANCROFT PROPERTIES City Manager Mike Gleason introduced the item. Warren Wong, Finance Director, gave the staff report. He said the resolution before the council expands the authori ty of the Bancroft Property Di sposa 1 Program to allow staff to negotiate the sale of foreclosed industrial property. The City currently has one foreclosed industrial site consisting of 17 acres. The City will continue to follow the existing public bid process for residential property foreclosures. Mr. Wong said 141 properties have been offered for sale and 29 have been sold. He said the City anticipates selling several more. Mr. Holmer asked how the previous resolution adopted March 9, 1987, precludes agreements with perspective buyers. Mr. Wong said the first resolution provided for a public bid process before negotiations by the manager. He said the resolution before the council brings the Bancroft disposal process into conformi ty wi th the real estate di sposa 1 ordi nance passed earl i er. Thi s ordinance provides authority to negotiate a sale without initially using a public bid process. In response to a question from Ms. Wooten, Mr. Wong said the resolution pertains only to industrial properties. He said the goals in the disposal of Bancroft property are to recover the City's investment and not to interfere with the private real estate market. e MINUTES--Eugene City Council January 6, 1988 Page 9