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C. Amendment to the City's Comprehensive Plan or any of its <br />Implementing Ordinances <br />Should the City Council amend the City's comprehensive plan or any of its <br />implementing ordinances and should such amendment cause a substantial change to <br />this plan, the City Council amending action shall cause this plan to be amended <br />provided that the Planning Commission and City Council approve the amendment. In <br />the event of such amendment, the text and/or exhibits of this plan, if applicable to this <br />plan, shall be changed accordingly by duly recorded ordinance. <br /> <br />Section 1300 - Duration and Validity of Approved Plan <br /> <br />Duration of Urban Renewal Plan <br />This plan shall remain in full force and effect through June 30, 2029. The City Council <br />shall conduct periodic reviews in 2009 and 2019. Reviews will consider extending the <br />duration beyond 2029; modifying the boundaries; modifying the maximum indebted- <br />ness; and modifying eligible project activities to be undertaken in the Downtown Urban <br />Renewal District. The review process shall include a review and recommendation from <br />the Eugene Redevelopment Advisory Committee. <br /> <br />Validity <br />Should a court of competent jurisdiction find any word, clause, sentence, section, or part <br />of this plan to be invalid, the remaining words, clauses, sentences, section, or parts <br />shall be unaffected by any such finding and shall remain in full force and effect for the <br />duration of the plan. <br /> <br />Section 1400- Maximum Indebtedness <br />The sum of $33,000,000 was established in 1998 as the maximum amount of new <br />indebtedness which could be issued or incurred under this Plan. This amount does not <br />include funds to pay interest on that indebtedness nor funds to repay indebtedness <br />existing on the date of the 1998 amendment. <br /> <br />CITY-WIDE SPECIAL LEVY. <br />Option One and its city-wide special levy, as described in ORS 457.435(2)(a), were <br />chosen in 1998 as the method for collecting ad valorem property taxes sufficient to pay <br />when due, indebtedness issued or incurred to carry out the Urban Renewal Plan for the <br />Central Eugene Project as permitted by section 11 (16), Article XI of the Oregon <br />Constitution. <br /> <br />DRAFTAME~VDME~VTS- Urban Renewal Plan For - 15 - <br /> <br />Central Eugene <br /> <br /> <br />