CC Minutes - 02/10/99 WS - Laserfiche WebLink

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Mr. Giunta noted the interdisciplinary connections between the University and the research park, saying there were approximately 20, and those were the areas where new enterprises would arise in the future. Mr. Giunta noted challenges to the park, including the need for careful planning for future growth, and reported that the review committee considered three growth scenarios for the park: 1) organic growth, coming from within the University; 2) a more accelerated growth rate; and 3) a rapid growth rate. Each scenario had different implications. Mr. Giunta said that another challenge was the lack of a speculative real estate market in Eugene and difficulties in financing building construction. The need to cultivate a greater community understanding and support of the park was a major challenge to the park. Mr. Giunta said that the community may not have a good understanding of the value of the asset the park represented as a lever for the growth Eugene might want to see in the future. Another challenge was getting more companies from the University in an incubator environment in the park, and retaining companies in the park and in the region. Mr. Dyke discussed the University's plans for the research park. He said that the University believed the park had been successful, was moving along at a good pace, and that there were many benefits from the park. The University did not expect to make a lot of money from the park, but anticipated the park would be crucial for the technology transfer efforts of the University and its faculty and students. Mr. Dyke said the park would be crucial for attracting and retaining high- tech and knowledge-based companies to Eugene and would help diversify the local economy. He said that the University considered its partnership in the park with the City to be important and valuable, and symbolic of the benefits of the park. Mr. Dyke used a map of the park to describe the buildings located in the park and their tenants. Mr. Dyke described the University's zebra fish cloning program and its purposes. He noted the technological spinoffs the University expected from the program, and indicated a building would be constructed to house the program. Mr. Dyke used the map to identify future development areas in the park. He discussed start-up companies locating to the park. Mr. Dyke described how the review committee's recommendations would impact the park's build- out, reporting that as recommended, the University would finish the build-out in the Silva sector before embarking on careful evaluation and planning in the Gateway and Riverview sectors of the park. He said the University valued the advice of the review committee and wished to preserve the environment of the Riverview sector. Mr. Dyke expressed the hope the council would see the value of the partnership between the University and City, and assist the University as it went into the planning process for the remaining areas of the park. Mr. Meisner invited questions and requests for information from the councilors. Ms. Taylor asked how soon the Riverfront Parkway would be constructed, and with what money. Mr. Dyke responded the planning process would include an examination of what infrastructure was needed in the park, including the parkway. Ms. Taylor indicated interest in knowing more later about the funding source. MINUTES--Eugene City Council February 10, 1999 Page 4 11:30 a.m.