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<br />Examples: Broadway Place & Enterprise Rent a Car <br />The Broadway Place development required parking spaces for the retail and housing components of this <br />public/private partnership. The City assembled the land, built the two public garages, and sold the “air rights” to <br />the developer at a reduced rate for the construction of commercial and residential portions. (The purchase of <br />“air rights” allows the developer to develop on top of the garage.) Broadway Place also received a MUPTE (10- <br />year property tax exemption on the housing portion of the project, currently in its last year). The City used its <br />full faith and credit pledge to issue bonds to pay for the garage. The bonds are repaid from parking revenues. <br />The City has not had to use its general resources to make debt service payments. <br /> <br />Enterprise Rent-A-Car invested in a contact center in downtown Eugene in April, 2008. One of their decision <br />factors was availability of affordable parking. Their location at 175 West Broadway is across the street from the <br />Broadway North parking garage. It is also within a few blocks of two other garages and the downtown bus <br />station. Enterprise Rent a Car was able to redevelop a formerly vacant building using existing parking <br />infrastructure. <br /> <br />C. Public Infrastructure <br /> <br />Public Infrastructure Summary <br /> <br />? <br /> Utility relocation/upgrades, transportation improvements <br />? <br /> Investment in current and future developments in given area <br /> <br />? <br /> Funds from a wide variety of sources <br />Public infrastructure includes streets, sidewalks, lighting, landscaping, open space, pedestrian improvements, <br />utility relocations and upgrades, or transportation improvements. Cities and urban renewal agencies can provide <br />infrastructure as a means of investing in a development with the intended purpose of the development being a <br />trigger for further development in the area that will also benefit from the infrastructure improvements. A variety <br />of funds may be used to pay for the improvements, depending on the nature of the project, such as SDCs, <br />assessments, road funds, general funds, tax increment funds, and other resources. <br /> <br />Examples: Reopening of West Broadway, Courthouse District <br />A public infrastructure investment was made with the reopening West Broadway in 2002. The project included <br />the reopening of the street, pedestrian improvements, landscaping, and public art. The total expenditure was $2 <br />million. Public funds were matched with $200,000 in private contributions. Additionally, the Riverfront Urban <br />Renewal District provided funds to underground the utilities in the courthouse district. <br /> <br />D. Direct Investment <br /> <br /> <br />Direct Investment Summary <br /> <br />? <br /> URA participation through a grant program <br /> <br />? <br /> Funds from tax increment revenues <br /> <br /> <br />The City/URA could also directly invest in a development as a way to reduce overall costs. Funds could come <br />from various sources, but would most like come from tax increment financing. The City has not chosen to use <br />direct investment in the past. The City’s preference has been to provide loans, which revolve and provide <br />funding for additional future projects. <br /> <br />Example: No previous example. <br /> <br />E. City as Landlord or Tenant <br /> <br />City as Landlord or Tenant Summary <br /> <br />? <br /> Set lease rates to fill spaces with desired occupants <br /> <br />? <br /> Improves feasibility of development or downtown location <br /> <br /> <br />