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<br /> <br /> <br /> <br /> <br /> <br /> <br />August 13, 2018 <br /> <br /> <br />Dana Bernard <br />City of Eugene <br />Planning & Development Dept. <br />99 W. 10th Avenue <br />Eugene, OR 97401 <br /> <br />Mayor Vinis and Council: <br /> <br />Travel Lane County is encouraged to see many exciting projects coming to life in our community. Many <br />of these projects will become demand generators that result in increased visitor spending. While visitor <br />spending annually generates over $676 million in direct spending, local residents use and benefit from <br />the investment made to support the visitor industry. Residents appreciate good restaurants, attractions <br />and shopping opportunities; however, residents also need quality housing options. <br /> <br />The 5th Street Public Market expansion checks all the boxes for visitors, while the inclusion of The <br />Gordon Lofts project fills a void in downtown housing. Housing near current downtown jobs and near <br />the hundreds of jobs that will be created with the 5th Street Market expansion project, the EWEB <br />waterfront project and other projects is dearly needed. The multi-unit property tax exemption (MUPTE) <br />is a necessary tool for projects like The Gordon Lofts to proceed. The short-term loss in property tax <br />revenue will pay dividends in the long-run. In fact, at the current tax rate the community will receive <br />nearly $400,000 in property taxes following the exemption period. Without the exemption, the project <br />will not move forward and everyone loses. <br /> <br />Travel Lane County encourages the Council to support the use of the MUPTE for The Gordon Lofts. <br /> <br /> Sincerely, <br /> <br />Andy Vobora <br />Vice President of Stakeholder Relations <br /> <br />October 17, 2018, Work Session – Item 2