CC Minutes - 03/11/02 Meeting - Laserfiche WebLink

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V. DISCUSSION: RESOLUTION 4715 APPROVING A WAIVER OF EMPLOYMENT REQUIREMENTS FOR A PROPERTY TAX EXEMPTION TO HYNIX SEMICONDUCTOR MANUFACTURING AMERICA INCORPORATED FOR ITS OPERATIONS IN THE WEST EUGENE ENTERPRISE ZONE Mayor Torrey noted that Councilor Taylor had requested that action on the item be delayed until the Wednesday work session. City Manager Carlson noted that there was a substitute motion distributed to councilors. City Attorney Glenn Klein said the difference between the substitute motion and the motion in the meeting packet was that the reference to "in-lieu-of-tax payments" had been removed in the substitute motion. Councilor Rayor said the proposed resolution would make the local schools whole and would hold Hynix accountable for its employment levels for the next three years. He expressed his pleasure with the resolution. Councilor Pap~ expressed his appreciation of Hynix's good will as well as the efforts of staff in coming up with a good compromise. Councilor Bettman, referring to Section l(a), said the benefit to the public had not been proven in a reliable way as to being the most efficient expenditure of economic development dollars. Councilor Kelly said he was supportive of Hynix's continued success but stressed the importance of separating wishes for success from tax exemptions. He said it would be impossible for him to support the exemption because Hynix had cut employment by 25 percent, Hynix was asking for a tax exemption for a routine cost of doing business, and there were a number of other economic development initiatives that had no funding. VI.EXECUTIVE SESSION The item was postponed for lack of a quorum. The meeting adjourned at 9:45 p.m. Respectfully submitted, James R. Carlson City Manager (Recorded by Joe Sams) MINUTES--Eugene City Council March 11, 2002 Page 8 Regular Session