Item A: Urban Renewal - Laserfiche WebLink

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ATTACHMENT C Project: U.S. Bank Building th Summary: The URA assembled the half-block along 8 Avenue between Willamette and Olive Streets. The URA issued an RFP for the site and sold the property in 1993 for $688,000. The U.S. Bank Commercial Center office building was constructed which includes ground floor retail along Willamette Street. Outcome: The U.S. Bank building is a major commercial office anchor and employment generator for downtown. The project positively responded to the City’s goal to create density in the core. Previously used as a surface parking lot generating limited tax revenue, the U.S. Bank property currently generates $194,000 in annual property tax revenue. Project: Lane Transit District Downtown Eugene Station Summary: , t In 1989he URA and Lane Transit District initiated a study to site a new off-street downtown transit station to replace the on-street station. Two quarter-block, URA-owned surface parking lots were sold to LTD for the new station. The LTD agreement required the loss of surface parking to be mitigated. URA funds totaling $2.2 million were used to help construction of the Pearl Street parking structure and make elevator and access improvements for the Overpark parking structure. Outcome: The LTD Downtown Eugene Station offers an alternative transportation option for downtown visitors and employees. It is a significant amenity that will support the City’s goal for dense commercial, residential, educational, and cultural development. In 2008, LTD ridership surpassed 11 million boardings. With the addition and future expansion of the EmEx line, the Downtown Eugene Station will continue to be the major transportation hub and a significant activity generator downtown.