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Item A: Downtown Development Financial Tools
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Item A: Downtown Development Financial Tools
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6/9/2010 1:01:05 PM
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4/19/2007 8:38:15 AM
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Agenda Item Summary
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4/25/2007
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Initial Public Investment: $58 Million public revenue bonds, $2 Million Brownfield Economic Development <br />Grant (25% of total project) <br />Initial Private Investment: $183 Million (75% of total project) <br />Overall Result: Three to four story mixed use development with 210,000 sq. ft. office, 650,000 sq. ft. retail, <br />253 residential units, 2,000 parking spaces (2004) <br />5. <br />Cathedral City, California <br />Population: 36,000 <br />Project: New Downtown Center <br />Total Project Cost:Not available <br />Public Investment: $53 Million (infrastructure improvements, including utilities and transportation) <br />Initial Private Investment: $40 Million <br />Overall Result: 900 jobs created, 202,000 sq. ft. hotel, office and retail uses, up to 900 residential units, <br />including senior and affordable units, 68,000 sq. ft. civic center, 16 screen theater <br />6.Pasadena, California <br />Population: 146,000 <br />Project: Old Pasadena Downtown District <br />Total Project Cost: Not available <br />Initial Public Investment: $27 Million for garage, subsequent investment of $7 M for streetscape <br />improvements (1996) <br />Private Investment: Estimated at $400 Million in 1996 <br />Overall Result: Renovation of buildings within 14 block area, mixed use project, retail center, senior center, <br />two parks <br />* Cathedral City, CA and Pasadena, CA not included due to unavailability of total project cost. <br />Please contact me at 682-6077 or via e-mail at susan.l.muir@ci.eugene.or.us, if you have questions or need <br />additional information. <br />Attachments <br />A: Downtown Urban Renewal District and Tax Increment Financing <br />B: MUPTE Boundary <br />C: Vertical Housing Development Zone Boundary <br />D: Case Studies <br />Page 13 of 13 <br />
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