Item 3: Ordinance on Downtown Urban Renewal Plan Amendments

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Public Hearing: An Ordinance Adopting an Amended Urban Renewal Plan for the Downtown Urban Renewal District, Formerly the Central Eugene Project Meeting Date: July 16, 2007 Agenda Item Number: 3 Department: Planning and Development Staff Contact: Richie Weinman www.eugene-or.gov Contact Telephone Number: 682-5533 ISSUE STATEMENT The public is invited to comment on an ordinance to amend the Central Eugene Project (Downtown) Urban Renewal Plan. On May 29, 2007, the council initiated amendments that include increasing the maximum indebtedness by $40 million to a total of $73 million, extending the termination date of the district by six years to 2030, and changing the name of the district to its commonly referred to name of “Downtown Urban Renewal District.” BACKGROUND The major reason for amending the Urban Renewal Plan at this time is to accommodate the City’s financial participation in the redevelopment of the West Broadway area. The history of the West Broadway project, the HUD Section 108 Loan and Brownfield Economic Development Initiative (BEDI) Grant, and the Downtown Urban Renewal Plan amendments is included as Attachment A. The Downtown Urban Renewal District was created in July 1968. The plan has been amended four times, most recently in 2004. State law requires a “substantial plan amendment” when the maximum indebtedness is increased. The substantial amendment process requires a mailed notification to all Eugene property owners, a review by the Planning Commission, notification to other impacted taxing districts, and a public hearing. The proposed ordinance containing the 2007 amendments, the proposed plan as amended and the report on the plan are included as attachments B through D. The impacted taxing districts were notified by letter on June 11, 2007. This resulted in a review by the Lane County Finance and Audit Committee on June 28. The committee expressed appreciation that the City informed Lane County about the proposed plan amendments and indicated that it may submit written comments. The Planning Commission discussed the amendments and the citizen involvement strategy on June 18 and adopted a motion acknowledging its review. A mailed postcard was delivered to most Eugene property owner mailboxes on June 23. The final citizen notification element that is required by statute is this public hearing. Maximum indebtedness refers to a total spending limit during the life of the plan. For Eugene, the maximum indebtedness was adopted in 1998 and spending towards that limit began in fiscal year 1999. The current “maximum indebtedness” of $33 million has nearly been fully spent, with about $26 million spent on the library and $4.6 million left for future projects. Adopting a “maximum indebtedness” L:\CMO\2007 Council Agendas\M070716\S0707163.doc