09/18/1991 Meeting - Laserfiche WebLink

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e able for a fixed price over time. The City will have the opportunity to review the deal after nine months to determine if the project is still feasi- bl e. Ms. Bascom reiterated concern that, in approving the amendment, the council .. would be sending the message that it is not satisfied with the developer. Mr. Hoffman said that if Lorig Associates, Inc., determines at some point that the project cannot be completed, the City will be contacted immediately. The amendment carried, 7:1, with councilor Bascom dissenting. Mr. Boles clarified that neighbors hoped the parking would be resolved and that it is their understanding that the compromise proposal he outlined would be negotiated between the neighborhood, the developer, and the council. The main motion, as amended, carried unanimously, 8:0. Mayor Miller adjourned the meeting of the Eugene City Council and convened a meeting of the Urban Renewal Agency. III. WORK SESSION: URBAN RENEWAL CHANGES AS A RESULT OF BALLOT MEASURE 5 Res. No. .955--A resolution of the Urban Renewal Agency of the City of Eugene amending Section 1300 of the e Urban Renewal Plan for the Central Eugene Project. Mr. Rutan moved, seconded by Mr. Boles, to adopt the resolu- tion. Roll call vote; the motion carried unanimously, 8:0. Res. No. 956--A resolution of the Urban Renewal Agency of the City of Eugene amending Section 1300 of the Urban Renewal Plan for the Riverfront Research Park. Mr. Rutan moved, seconded by Mr. Boles, to adopt the resolu- tion. Mr. Nicholson said that in addition to the clause that stipulates that the City would undertake no new bonded indebtedness after 2005, he would like a clause added to the resolution stipulating that any bonded indebtedness is- sued prior to 2005 would have a term ending no later than October 11, 2010. This would prevent the agency from issuing any new 30-year bonds just prior to the termination date. Mr. Gleason said that if the council approved Mr. Nicholson's suggestion, it might be severely limiting the agency's ability to complete the urban renewal - e MINUTES--Eugene City Council September 18, 1991 Page 7 --