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ATTACHMENT D <br />Other Investment Opportunities in and a Map of <br />the Riverfront Urban Renewal District <br />There are a number of other investment opportunities within the Riverfront District. Section A below has Downtown Riverfront related projects either in the planning phase (affordable housing) or that represent an existing need (parking) that are anticipated to need public financial support. Section B below has opportunities elsewhere in the Riverfront District. There are no specific requests of Agency funds for any of the opportunities listed below and it is unknown at this time what the financial need will be for any of these projects. A.Downtown Riverfront Projects <br />Affordable Housing: The Agency Board approved terms for selling a parcel to WDA at fairmarket value for development of no fewer than 75 units of affordable housing at or below60% of the area median income. WDA is partnering with Bridge Housing and is currentlydeveloping a financial model for the project. Like all affordable housing projects there willbe a financing gap that requires outside investment to be viable. <br />Parking: The east end of downtown has seen significant redevelopment in recent years, including the Wayne L. Morse U.S. Courthouse, Northwest Community Credit Union, the Foundry Building, and the Hub apartment building. Activities in this area have already overtaxed available parking. The WDA concept plan has parking to serve the needs of the private redevelopment and on street parking is anticipated to serve the needs of accessing public amenities, such as the Park. The Steam Plant parcel is not of sufficient size to accommodate parking needs for its future redevelopment. To address this critical issue, both for the Downtown Riverfront as well as nearby redevelopment sites, the Quiet Zone and southern access at 8th and Hilyard is being redesigned to preserve critical parking in this area and other nearby partnership opportunities are being investigated. B.Opportunities Elsewhere in the Riverfront DistrictThis initial list of District opportunities are either in the early planning stage or simply havepotential for possible future investments and have not been completely investigated orvetted. The list is not intended to be inclusive of all future opportunities, and there may becurrently unforeseen projects that reveal themselves during the life of the District. Specificcapital investments may require City Council/Agency Board action in the future and will bepresented at the appropriate time. <br />Willamette to Willamette Plan: With the long-held goal of transforming 8th Avenue into a place of civic importance and an inviting and walkable connection to the river, staff are working to support private and public redevelopment to bring value and activity to this area. The Downtown Plan identifies 8th Avenue as a Great Street, between Willamette Street and the Willamette River. In 2006, infrastructure improvements along 8th were put in place to provide a walkable connection across Mill Street. Since the Downtown Plan’s approval, new projects have supported the efforts for walkable, dense, mixed-use development on the east end of downtown, including the Downtown Riverfront <br />October 28, 2019, Work Session – Item 2