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Item 3: Ordinance on Downtown Urban Renewal Plan Amendments
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Item 3: Ordinance on Downtown Urban Renewal Plan Amendments
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6/9/2010 12:44:23 PM
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7/13/2007 9:29:16 AM
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Agenda Item Summary
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7/16/2007
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The chart below demonstrates that the frozen base for the combined urban renewal <br />districts is well within the 15% limit imposed by ORS 457. <br />Table 4 <br />Assessed Value of the Frozen Base <br /> Downtown Total as a % <br />Urban Renewal Riverfront Urban of City of <br />DistrictRenewal District Total Eugene AV <br />Frozen Base $31,386,991 $50,609,448 $81,996,439 0.8% <br />2. Relationship of the Value of Improvements to the Value of Land <br />The current ratio of improvement to land value within the Renewal Area, based on <br />2006/2007 assessment records and excluding tax exempt property, is 8.1 to 1. The <br />accepted improvement to land value ratios of healthy, viable, and prosperous areas <br />in Oregon cities are 3.0 to 1 and greater. <br />D. Environmental Conditions <br />Environmental conditions within the Downtown Urban Renewal District are not expected <br />to change. The area has been an established commercial business area for many <br />years. Most streets, sidewalks, alleys, and sewers are in place and will be upgraded <br />and maintained. The public park areas within the project area will be upgraded and <br />maintained as needed. New street trees are to be planted as part of the project. This <br />landscaping should provide a positive environmental impact. <br />Report on the Downtown Urban Renewal District Plan – Circulation Draft of June 2007 5 <br />
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