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<br /> <br />Draft Summary Report: Eugene Housing Tools & Strategies 8 <br /> The financial feasibility analysis indicates that some types of residential development do not <br />meet the minimum threshold of feasibility or are marginally feasible even without the CET. <br /> To address financial feasibility concerns, however, the City of Eugene could take a number of <br />steps, including: <br />o Phasing in a CET first with a one-third or one-half of one-percent tax rate. The City of <br />Bend, which was the first to implement a CET, uses one-third of a percent, and has <br />raised over $6.4 million for a revolving fund for affordable housing. <br />o Accompany the implementation of a CET with regulatory/process improvements that <br />have the potential to reduce other development costs. <br />o Exempt some types of housing units, particularly those that meet other housing goals, <br />such as smaller, more affordable units, from paying the CET. <br />o Using a portion of revenue collected to assist in the production of qualifying market- <br />rate units. <br /> <br />December 12, 2018, Work Session - Item 2