03/29/1978 Meeting (2) - Laserfiche WebLink

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e D. Meetings Scheduled MAPAC interviews, Wednesday, March 29, 6:30 p.m., McNutt Room. Wednesday, March 29,7:30 p.m., Harris Hall, joint meeting between Eugene/Springfield/Lane County commissioners for T-2000 public hea ri ng. Manager also noted a schedule outlining work sessions for Council on the T-2000 Plan: Study sessions, Wednesdays April 12 and 19; public hearing and possible action Monday, April 24; Council action, if necessary, Wednesday, Apri 1 26. E. Library Week--Manager announced the first week in April would be National Library Week, with a speakout to be held 7:00 p.m., Monday, April 3, in the lecture room of the Eugene Public Library. Purpose would be to develop local priorities to be presented at the regional conference in Eugene in May. Citizen participation was being requested. II. Joint Meeting With Civic Center Manager said the purpose of this discussion was to have a presentation by Economic Research Associates of the co~pleted Market Financial Feasibility and Impact Study for the Eugene Civic Center Project. A possible election date of June 27 is being considered. e Richard McElyea, senior vice president of ERA, said the objectives of the report were to: 1) Define an appropriate public assembly facility; 2) test the facility for economic impact on the community; and 3) recommend financing vehicle and sources. He said four special characteristics had been identified in the Eugene area: 1) A large trade area for a city of this size; 2) a strong local basis for support of the performing arts; 3) a national reputation as a good place to live; and 4) a youthful makeup of the population. He said all indicated a very high degree of success potential for such a facility. Overall projections have indicated a very strong combination use of about 600,000 attendance per year. The final report analyzes each of the facilities from the operational standpoint and then from the standpoint of what revenues could be gene- rated. There will be a deficit from operations alone of one-quarter million dollars per year; tax revenues can more than offset the deficits and this is not an unusual situation. From an economic standpoint, the annual payroll would be $400,000 per year. An important side effect would be the possible attraction of a major hotel development with a total impact of perhaps $5 million a year from the hotel. Regarding tax implications, potential tax revenues from a hotel would be $573,000 per year; and a potential available of ground lease of the hotel could be also used as an offset. In summa~y, Mr. McElyea said the economic impact of construction would be $18 million, operational revenues $2 million, and potential tax revenues of $800,000 per year. e 3/29/78--4 2.03