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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Work Session: Urban Renewal Meeting Date: July 8, 2009 Agenda Item Number: A Department: Planning & Development Staff Contact: Amanda Nobel Flannery www.eugene-or.gov Contact Telephone Number: 682-5535 ISSUE STATEMENT The work session is a follow-up to action taken by the council on May 27, 2009, to discuss potential economic development projects, financial requirements, and the amendment process for the urban renewal plan. Staff will address questions raised and ideas discussed at the May 27 work session, and provide next steps for a strategy to reinforce existing programs and businesses downtown and create a series of stimulus actions to strengthen the City’s role in community economic development. No formal action is requested; however, staff is seeking feedback and input from the Mayor and council. BACKGROUND The council had an initial conversation regarding economic development at the January 28, 2009, work session and unanimously approved adoption of a City of Eugene Mayor and City Council Economic Development Statement. The economic stimulus discussion continued at the April 13 and May 27, 2009, work sessions. On May 27, the council approved actions on three economic development related items: 1) sale of surplus City real estate for identified development projects; 2) initiation of procedural code amendments, and 3) consideration of an amendment to the Downtown Urban Renewal Plan. At the April 13 and May 27 work sessions, the council discussed a potential amendment of the Downtown Urban Renewal District Plan. As indicated during the discussion, the maximum indebtedness (spending limit) in the district plan would need to be expanded to provide financial capacity to support development opportunities in the downtown core. Individually, and collectively, the investments could provide a significant economic boost to downtown as well as to the community as a whole. On May 27, the council asked staff to schedule another work session to discuss potential projects, financial requirements, and the amendment process. Councilor Inquiries from 5/27 Work Session: Information on downtown resources 1.– Several councilors requested additional information regarding available resources to support downtown projects. Attachment A provides the current resources available to downtown projects divided into three categories: 1) Financing Tools, 2) Development Tools, and 3) Additional Tools. Impact on other taxing jurisdictions 2. – Attachment B is the Urban Renewal Agency information included in the FY10 Proposed Budget. This attachment includes an overview of financial information about both urban renewal districts, such as assessed value and property tax information, maximum indebtedness update, effect on tax bills, and the impact on overlapping taxing jurisdictions. Z:\CMO\2009 Council Agendas\M090708\S090708A.doc