08/08/1990 Meeting - Laserfiche WebLink

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e II. RIVERFRONT RESEARCH PARK UPDATE Assistant City Manager Dave Whitlow introduced the topic. Gus Keller, Chair of the Riverfront Research Park Commission, said the commission was presenting the council with a development agreement for all of the parties involved in the development of the research park. He said the project had great staff support, including Peter Swan of the University and John Watkinson of the City Attorney's Office. Mr. Keller said the commission had endorsed both the lease and the development agreement for the Riverfront Research Park and recommended that the City Council and Urban Renewal Agency authorize the City Manager to enter into the development agreement with Institutional Development Associates (IDA) for the first phase of development as soon as possible. Mr. Boles referred to page 2 of the development agreement--the section on governing documents. He asked if the design guidelines prepared by the design advisory committee were included. Staff affirmed that they were. Mr. Boles pointed out that the agreement was only for phase one development, not a master development agreement for the whole site. Mr. Keller said the project was a phased development and that the commission was only seeking approval for phase one at this time. e Mr. Holmer said the City Council had received a financial analysis document on the Riverfront Research Park project in May. He said the dates used in this document were already out of date. He said it would be April 1991 before the development agreement would require the developer to begin construction. Mr. Holmer asked whether it was possible that the research park could be built less expensively elsewhere. He said the project should proceed more rapidly. Mr. Keller said various obstacles had caused changes in the project's time line, but that it was now at the point where all financial figures were better known. Mr. Holmer said provisions in the development agreement required the University and City to participate in marketing and recruiting tenants. He said the developer was usually responsible for this. He said the City and University might spend as much as $100,000 towards this goal and asked if that was sufficient to cover a charge in the future that the City and University had not been active enough in recruiting. Staff indicated that the funds for marketing were being provided by the State through the Regional Strategies Program. Mr. Boles said the Riverfront Research Park had not been one of his favorite projects in the past. However, he said he had talked to Cathy Briner at the Planning and Development Department (PDD) who assured him that the development agreement stated that the research park tenants would be e MINUTES--Eugene City Council August 8, 1990 Page 4