Ord. 20644 - Laserfiche WebLink

Home Browse Search

in accordance with the Plan. The current plan for the property is to utilize a Request for Proposals (RFP) process to utilizefor this mixed-income approach to maximize the financial feasibility of the project. The RFP will be released in the fall of 2020, and r is anticipated for early 2021. The projects included in the Plan were selected for their ability to address blighted conditions and to serve as catalysts for reducing the prevalence of blight within the Plan Area. The improvements to the Park Blocks and the other downtown open spaces will target areas with documented evidence of blight in order to increase the accessibility, enjoyment and use of these areas. As a result, the downtown open spaces will transform from underutilized areas to amenities drawing additional users and ultimately new residents and employees. Adding high-speed fiber will also add significant value to the district by creating the conditions for businesses to succeed, particularly those businesses in the growing cluster of high-tech firms. Strengthening businesses in this economic sector increases the ability of firms to add new employees, grow the business base, and add additional value to properties within the Plan Area. Using urban renewal funds to assist in the redevelopment directly addresses a significant blighted property in the Plan Area. When this large, underutilized, and outdated structure is transformed for new uses, the property will support other activities in the Plan Area and the blighting influence of a vacant property will be removed, which will positively impact adjacent and nearby properties. Improvements for the Farmers Market will strengthen the local food sector of our regional economy and reduce or remove the blighting conditions of the existing location. A renovated location or new structure will also enhance the ability of the Farmers Market to serve as an amenity to other busiwntown, as well as an attraction for the entire community, leading to additional activity in the Plan Area and, ultimately, greater economic stability and increased values within the Plan Area. Chapter6:EstimatedTotalCostofEachProjectorActivity, SourcesofMoney,andAnticipatedCompletionDateforEach ProjectorActivity This Report includes the estimated cost of Projects in section 600 of the Plan. Table 5 shows that urban renewal financing is estimated to provide $19.4 million (or approximately 60%) of funding out of an estimated total of $32.4 million of public and private investment from FY17 through FY25. Table 5 lists the project activities included in the Plan and estimated amounts based on the motion approved by the Agency Board on September 30, 2020 . As a reminder, project scoping and Agency Board decision for Open Spaces; and the RFP process/negotiations for 1059 Willamette have yet to occur. Below is a short description of each of the Projects. Parks,Plazas,FarmersMarket,OpenSpace,Restrooms,andStreetImprovements:In June 2017, the City Council, in partnership with the Lane County Board of Commissioners, ReportontheProposed2020Amendment 12