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issue for public agencies, non-profits and individual homeowners. Finding an effective way to <br />respond to these issues will be an important priority. <br />? <br /> Due to changes in technology, Hynix closed, leaving 1,000 unemployed people. The closure <br />affects the City’s tax base as well as the financial picture for EWEB, the school districts, LTD and <br />a number of other entities. It was also the first of a number of closures and hour reductions that <br />have occurred in the wake of the economic crisis. <br /> <br />These challenges will inform and influence the decisions we will make in the upcoming year. What <br />course shall we set for 2009 and beyond? <br /> <br />The Economy is Job #1. The people of our community need jobs to raise their families and care for their <br />basic needs. Eugene should be a place where people choose to live because of its resources, values, and <br />opportunities. <br /> <br />It is impossible to predict the economic future right now. Here in Eugene, we have some experience with <br />economic downturns; but this national crisis is on a scale we have not seen since the depression. <br /> <br />We have been preparing. <br /> <br />As I mentioned earlier, the City has managed its finances well and has understood the need for sound <br />policies that respond to this rapidly changing world, climate change and finite resources. <br /> <br />We understood well before the current crisis the need for Eugene to focus on jobs and on becoming a hub <br />of the new green economy– to be bold and visionary. <br /> <br />We have a wealth of resources to draw on: the ingenuity of our existing businesses and entrepreneurs, the <br />beauty of our city and natural environment, the quality of our schools and public services, and the skills <br />of our labor force. This is why people and businesses want to locate here. <br /> <br />We have positioned ourselves for the future through growth management policies and planning, local <br />purchasing, streamlining our processes, incentives to grow local business, investing in downtown housing <br />and development and the arts, and adopting the Sustainable Business Initiative. We have worked with our <br />partners on our education, transit and alternative energy investments and opportunities. We are <br />recognized nationally for being a top green city and a top place in which to do business. <br /> <br />We have laid the groundwork well on many fronts. <br /> <br />There are a number of things we will focus on immediately to move us forward. <br /> <br />? <br /> The incoming Obama administration has indicated that it will quickly be putting forth a stimulus <br />package to help this country’s ailing economy, and Eugene is ready to take advantage of what <br />that might offer the working families in our region. We can do this if we are on the same page. <br />Eugene has a list of over $200 million in “ready to go” projects that fit the stimulus criteria given <br />for job creation and infrastructure improvement. We expect these projects, if funded, could create <br />4, 404 well-paying jobs by the end of next year – with an emphasis on green industry. These <br />include jobs in development and construction, alternative energy, accessibility, pavement <br />preservation, bike and pedestrian improvements, parks and trails, water reuse and pollution <br />control projects. <br /> <br /> <br />MINUTES—City Council January 7, 2009 Page 6 <br />