Item B: URA - West Broadway Project Update

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EURA UGENE RBAN ENEWAL GENCY AIS GENDA TEM UMMARY Work Session: West Broadway Project Update Meeting Date: May 9, 2007 Agenda Item Number: B Department: Planning and Development Staff Contact: Denny Braud www.eugene-or.gov Contact Telephone Number: 682-5536 ISSUE STATEMENT At this work session, theUrban Renewal Agency (URA) will consider input received at the April 30, 2007, public workshop and consider the West Broadway Request for Qualifications (RFQ) responses submitted by Beam Development (Beam) and KWG Development Partners (KWG). BACKGROUND On November 27, 2006, the URA provided direction to issue an RFQ for the redevelopment of West Broadway with approved criteria. An RFQ was issued on December 8, 2006, with a submission due date of February 9, 2007. The City received responses from Beam, CenterCal Properties, Greg Bryant, KWG, and MidTown Development. The action taken by the URA at the March 12, 2007, work session directed staff to work with Beam and KWG to explore project concepts in more detail, with opportunities for community input, and to bring the supplemental information back to the URA for review and approval. On April 12, 2007, the council received a staff memo that addressed the financial capacity of the Downtown Urban Renewal District and the other tools to support downtown redevelopment. On April 16, 2007, the council held a workshop on downtown development issues with an invited panel of development professionals. On April 19, 2007, the Eugene Redevelopment Advisory Committee (ERAC) reviewed the supplemental information submitted by Beam and KWG. ERAC unanimously voted in favor of moving forward in a positive manner with downtown development and concluded that the qualifications of both Beam and KWG were acceptable, with a primary preference for awarding the project to KWG and a secondary preference for awarding the project to Beam. On April 25, 2007, the council held a work session on the financial tools that are available to support downtown redevelopment. At the same work session, the URA also reviewed the supplemental information submitted by Beam and KWG. Several questions were asked at the April 16 City Council workshop and at the April 25 work sessions. Staff’s response to the questions is included in Attachment A. At the April 25 work sessions, URA deferred a decision until after the scheduled April 30, 2007, public workshop. However, the URA did provide direction to the Agency Director to renew the purchase options on the Centre Court building and adjacent parcel (the hole), the Washburne Building, and the properties under option on the south side of Broadway between Olive and Charnelton streets (Diva to L:\CMO\2007 Council Agendas\M070509\S070509B.doc