Item C - Urban Renewal Amend. - Laserfiche WebLink

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ORS means Oregon Revised Statutes (State law). ORS Chapter 457 regulates the urban renewal process. Plan means the Urban Renewal Plan for the Central Eugene Project· The plan consists of Part 1, text and Part 2 exhibits. Project means any undertaking or activity within the central Eugene project, such as a public improvement, street project, or loan program which is authorized by and implements provisions set forth in the Urban Renewal Plan. Plan area means the entire Central Eugene Project plan area· Redeveloper ~see Develo~means any individual or group which acquires property or which receives financial assistance for the physical improvement of publicly or privately held structures and land within the project area. Rehabilitation means the act or process of returning a property to a state of utility through repair or alteration which makes possible an efficient, contemporary use while preserving those portions or features of the property which are significant to its historical, architectural, and cultural values. Report on the plan which-means the textual material and graphic exhibits required by ORS 457.085 (3) which explains existing conditions, activities, procedures, and proposals of the plan. State means the State of Oregon and its various agencies, divisions, and departments. Tax increment financin,q means a method of financing urban renewal projects as authorized by ORS Chapter 457, which uses the tax revenues generated by the increased taxable values in a defined area to pay for improvements within that area or benefiting that area. Text means Part 1 of this Urban Renewal Plan for the Central Eugene Project· Section 300 - Legal Descriptions Legal Boundary The Central Eugene Project includes that area of approximately 70 acres as originally established in 1968 The following is a legal description of the boundary of the Central Eugene Project plan area: DRAFTAMENDMENTS- Urban Renewal Plan For - 1 - Central Eugene