Item B: East Broadway Development Update

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Work Session: East Broadway Development Update Meeting Date: February 8, 2006 Agenda Item Number: B Department: Planning and Development Staff Contact: Nan Laurence www.eugene-or.gov Contact Telephone Number: 682-5340 ISSUE STATEMENT This work session will provide information on the Whole Foods Development Project. The council is asked to provide direction to the City Manager to begin negotiation of 1) a land transaction with the Shedd Institute for the Arts; and 2) a development agreement and other related legal documents between the City, Broadway High Associates (representing the G Group) and Gerding/Edlen Developers (GED) specifying the terms of the development and the City’s participation. This is the first of two work sessions anticipated for this project. BACKGROUND The Downtown Plan promotes a vision for a strong, active, distinctive urban center, and collaborative public/private projects. The proposed Whole Foods Development Project is a significant step towards implementation of that vision. The proposed project addresses the City’s commitment to working with private developers and using economic tools such as parking to leverage desired development. This proposal will contribute to the revitalization of the east end of downtown and the Courthouse District. The proposal will also add to the character and th activity along Broadway and 8 Avenue, both identified as Great Streets in the Downtown Plan. The project will result in a new downtown destination and additional parking in a key location to stimulate future investment. The Whole Foods Development Project will occupy the entire block bounded by High and Mill th Streets, 8 Avenue and Broadway (Attachment A provides a project location diagram.) There are three main elements of the project: land assembly, development plan, and project costs. These elements are discussed below. Based on council action, these will become the basis of a development agreement between the City, GED and Broadway High Associates and a land transaction between the City and the Shedd Institute for the Arts. Land Assembly Currently, the property proposed for this project is in three separate ownerships: The Shedd Institute for the Arts, the G Group, and the Oregon Central Credit Union. Gerding/Edlen Developers, working under the direction of the G Group, negotiated a letter of intent with the credit union to participate in the project. The G Group has proposed that the City engage in a land transaction to exchange property owned by the City immediately across High Street with the L:\CMO\2006 Council Agendas\M060208\S060208B.doc