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Condition 1. A six-month extension of the option, expiring August 31, 1984. e Condition 2. A one-year extension of the performance deadline. The current deadline for performance is December 1, 1984. Condition 3. A restructure of the current $10,000 deposit, limiting the refund to the developer to $5,000. Councilor Wooten stated that the extension has created concern with some people who wish to know the capital commitment of the City in the Ax Billy Project. Greg Byrne, Eugene Development Department, responded that the finance figures are within ranges of options within the City's existing loan programs. Approxi- mately $50,000 to $100,000 would come from the Commercial Revitalization Loan Program, $200,000 from the Business Development Loan Program, and $400,000 to $500,000 from an Urban Development Action Grant (UDAG). In response to a question regarding the City's position in the event of a default on the loan, City Attorney Tim Sercombe stated that his office has not reviewed the arrange- ments of the business loans. With regard to the break-even point of the ath- letic facility, she stated that other athletic facility owners are concerned with the City lending money to a private, for-profit company which will create competition with existing non-profit or Parks and Recreation programs. Ms. Wooten felt this was not enough of a concern to vote against the extension, but felt the council should consider this issue when studying other projects. Mayor called the meeting of the Urban Renewal Agency to order. e Res. No. 901--A resolution of the Urban Renewal Agency of the City of Eugene authorizing execution of second modifica- tion to option agreement. Mr. Obie moved, seconded by Ms. Wooten, to adopt, as the Urban Renewal Agency, the resolution. Roll call vote; the motion passed unanimously, 7:0. Mayor adjourned the meeting of the Urban Renewal Agency and reconvened the City Council meeting. v. APPOINTMENT TO WARD 3 CITY COUNCILOR SEAT (memo, ballot distributed) e City Manager Micheal Gleason introduced the agenda item. The councilors sub- mitted their ballots to the Assistant City Manager. Councilor Wooten said she appreciated the candidates who had applied, stating that a different process might have been appropriate. She suggested that a permanent policy for filling council vacancies be developed. She hoped that the councilors will support the candidate who best fills the tradition of Ward 3 and takes note of the letter regarding the ward tradition from Mark Lindberg. In response to a question regarding the selection process, Ms. Wooten questioned whether the council should be concerned with creating an incumbent candidate when the election is less than three months away. She said a clean race in May might have been a consideration. In addition, she felt that more ward residents should have been consulted. MINUTES--Eugene City Council February 22, 1984 Page 4