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ORDINANCE NO. AN ORDINANCE ADOPTING AN AMENDED URBAN RENEWAL PLAN FOR THE DOWNTOWN URBAN RENEWAL DISTRICT. The City Council of the City of Eugene finds that: A.The Downtown Urban Renewal Plan (the 1968, by Resolution No. 257 of the Urban Renewal Agency and on December 19, 1968, by Resolution No. 1609 of the Eugene City Council. The Plan has subsequently been amended, most recently on June 13, 2016, by Ordinance No. 20564 of the Eugene City Council. B.The 2016 Plan Amendment identified an improved Farmers Market as a project which the Agency may incur indebtedness to finance. The 2016 Plan Amendment also set a cap of $4.5 million (when combined with $500,000 allocated to the project by the 2010 Plan Amendment) on the amount of tax increment funds the Agency could use to fund the Farmers Market Project. The 2016 Plan Amendment also requires a public process, including community engagement, a staff presentation on cost estimates and funding mechanisms, and a public hearing, prior to Agency Board authorization of the use of tax increment funding on some of the projects identified in the Plan, including the Farmers Market project. C.The 2019 Park Blocks and Farmers Market concept design process, during which community members were invited to share their aspirations and vision for the public parks, plazas, open spaces, and streets in the Plan Area as well as ideas about an improved Farmers Market, fulfilled the community engagement requirements of Section 600A of the Plan. At work sessions held on October 30, 2019, February 24, 2020, and June 22, 2020, staff presented the information from the community engagement activities conducted in 2019, presented a proposed Schematic Design and associated cost estimates, and provided a list of possible funding mechanisms to the st of the proposed Farmers Market project is estimated at $9.8 million, which exceeds the $4.5 million spending cap. On June 22, 2020, the Agency Board directed the Agency Director to schedule a public hearing on the Farmers Market project and further directed Agency Director to begin the process to amend the Downtown Urban Renewal Plan to amend or remove the spending cap on the Farmers Market project. D.On September 18, 2020, copies of the proposed Plan amendments to remove the spending cap from the Farmers Market project and the accompanying report were delivered to the following affected taxing districts by mail and email, along with an offer to consult and confer with each district: Eugene School District 4J, Lane County, Lane Community College, and Lane Education Service District. No comments were received from the affected taxing districts. E.On October 26, 2020, the Eugene Planning Commission reviewed the proposed Plan amendments and the accompanying report and recommended that the Council adopt the proposed Plan amendments. Ordinance -- Page 1 of 3