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and that this could be used for a loan program, while tax increment funds could not be used for a <br />loan program. She added that the remaining $700,000 in tax increment funds could be used for <br />other projects, but the plan would have to be amended. She thought that there would be <br />approximately $1 million to $1.2 million per year in each future year to initiate projects. Staff was <br />recommending that the process to initiate the plan amendment begin. <br /> <br />Mayor Torrey called for questions and comments. <br /> <br />Mr. Meisner conveyed his support for both items. He appreciated that the City had been able to <br />build its library and would still have some capacity to do more. He supported the development of <br />criteria that addressed need as well as financial capability, so that the loans would not only be <br />granted to large developers. <br /> <br />Mr. Meisner supported adjustment of the boundaries so that eastern downtown, before the <br />Courthouse District, would be included. <br /> <br />Continuing, Mr. Meisner strongly urged that a set of priorities be developed for the plan. He <br />expressed concern that something, such as undergrounding of utilities, could cost money that <br />would be better allocated to another sort of project. He recommended the formation of a <br />committee to establish priority criteria. He stressed that he wanted a loan program that was <br />respectful of all of the markets. <br /> <br />Mr. Pap~ expressed appreciation that the City was looking into, on an "umbrella" basis, helping <br />small businesses grow and helping the downtown become revitalized. He advocated for the <br />development of an economic plan. <br /> <br />Mr. Pap6 asked Mr. Kelly if the Metro Partnership felt that the urban renewal tools the City was <br />looking into were appropriate for downtown. Mr. Kelly replied that the Metro Partnership had an <br />interest in downtown, but the primary focus of the partnership was in industrial development. <br /> <br />In response to a question from Mr. Pap~, Mr. Weinman said that urban renewal was the only <br />substantial financial tool available to the City. Mr. Taylor added that every strong economic <br />development plan affecting a city center included downtown revitalization and tools and incentives <br />to get that revitalization going. He stressed that bids were favorable on projects that were going <br />out at this time and that modest gap financing so that everyone could participate through a loan <br />program that was properly structured would be the "psychological and financial" advantage needed <br />to make the commitment while things were moving in such a positive direction. He called <br />downtown revitalization a "core rudder" of any community's economic development plan. <br /> <br />Ms. Cutsogeorge stated that there would be citizen involvement on the plan amendment and the <br />Planning Commission would be called upon to review it and provide comments. <br /> <br /> MINUTES--Eugene City Council July 23, 2003 Page 7 <br /> Work Session <br /> <br /> <br />