09/17/1980 Meeting - Laserfiche WebLink

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, ,. Mr. lieuallen questioned the serious concerns that were outlined in the report, i.e., "redlining," going on in Eugene. Ms. Briggs cautioned that e staff's evaluation of the report indicates there was no evidence of arbitrary redlining on the basis of geographic and neighborhood factors. What they found was that there was under-representation of conventional mortgages in the central city area. In discussion- with lenders, they have discovered that there are a number of factors contributing to the under- represent at i on. This is on the demand side as well as on the supply side. An example, is a land sales contract. Mr. Lieuallen replied that lending activities have decreased in the central city neighborhoods in the last several years. While land sales contracts may be very attractive to purchasers, they are not very attractive to sellers. He was pleased that this was the first priority. He encouraged the council to support this priority. Ms. Decker indicated the listing was not necessarily in order of importance. Within the Lenders Task Force, they will deal with all the priorities throughout the year. Ms. Decker explained one of the reasons mortgage activity was slow in the inner city was that housing was substandard. Lenders do not want to lend on substandard housing. The lenders Task Force will be looking at this problem. Mr. Lieuallen moved, seconded by Mr. Hamel, to accept the priorities listed in the memorandum addressed to the City Manager from the Housing and Community Conservation Department as of September 5. Motion carried unanimously. e Mr. Lieuallen moved, seconded by Mr. Hamel, that pursuant to ,ORS 192.660(1)(h) the council go into executive session. Motion carried unanimously. Upon motion duly made seconded and passed, the meeting was adjourned to September 22, 1980. Ch~rY) ~ City Manager Beth Conant Minutes Recorder BC:kb/CM8bl - 9/17/80--12