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M I NUT E S EUGENE CITY COUNCIL - July 12, 1976 Regular meeting of the Common Council of the city of Eugene, Oregon was called to order by His Honor Mayor Lester E. Anderson at 7:30 p.m. on July 12, 1976 in the Council Chamber with the following Council members present: Gus Keller, Wickes Beal, Tom Williams, Neil Murray, Ray Bradley, D. W. Hamel, and Edna Shirey. Council member Eric Haws was absent. Also present for joint session concerning Early Financial Settlement for the Central Eugene Project (Oregon R-18) were Eugene Renewal Agency members Joan Mazo, Irving Henning, Ruth Miller, and Frank Shearer. Renewal Agency members Harry Farrell, William Korns, and Wallace Swanson were absent. I - Proclamation canvassing votes cast in June 29, 1976 budget election was submitted showing the following results: Measure No. 51 - City Budget Yes 6 , 1 63 No 6,010 Measure No. 52 - ODD Budget Yes 7,261 No 4,857 Mr. Keller moved second by Mr. Williams to accept the canvass as presented. Motion carried unanimously. I-A-l II - Early Financial Settlement, Central Eugene Project (Oregon R-18) Charles Kupper, director for Eugene Renewal Agency, reviewed the proposal for early financial settlement of the downtown renewal project prior to its completion and - explained that early financial settlement will result in a surplus of $850,,000 for which an application is proposed. He said the key element to early financial settlement is the close-out agreement containing assurances and statements required by HUD on early settlement and embodies a co-operation agreement between the city and Renewal Agency covering transfer of ERA staff to the city. The Renewal Agency,. however, will continue to exercise its powers as the, Renewal Agency for the project. Mr. Kupper reviewed in detail the terms of the close-out agreement, copies of which were previously distributed to Council members and Renewal Agency members. Public hearing was opened. Maurie Jacobs, M. Jacobs Fine Furniture, 725 Olive Street, expressed concern about possible misinterpretation with regard to use of the surplus funds. He thought it important to pinpoint in the close-out agreement that development for which the funds would be used within or without the Central Eugene Project boundaries would be commercial development. Joan Mazo, chairperson of the Renewal Agency, stated that it was the intent of the Agency that the funds would be used for commercial development. Public hearing was closed, there being no further testimony presented. Mr. Keller moved second by Mr. Williams to reaffirm the proposed action described in the close-out agreement dated June 29, 1976, and authorize the city manager to execute and submit an application to HUD for early financial settlement in conformity with the terms of the close-out agreement. Motion carried unanimously. -- Joint session with the Eugene Renewal Agency was adjourned, and the Council con- tinued in its regular session. 3~~ 7/12/7n - 1