Item C - Urban Renewal Amend. - Laserfiche WebLink

Home Browse Search

B. Social Conditions According to a 2004 Planning and Development Department analysis t~e ~, there are tiro 196 housing units ~ within the Central Eugene Project Area C. Economic Con~tions 7. Value of Property The 2003/2004 !989/!990 estimated total taxable assessed value for the entire City of Eugene is approximately $8,713,000,000 ¢'~ '~nn o~'~ ~7 The taxable assessed value "frozen" base for the Riverfront Research Park Urban Renewal District is $25,259,285 $,?~. The !986/!987 assessed value of the established "frozen" base for the Central Euqene Prelect is $31,386,991 $39,!90,272. The total assessed value of the base is $87,446,976 ~ or slightly less than 1% ~ of the City's total assessed value. This is weft within the 15% fimit imposed by ORS 457 "~*~'" *~'~ ! 5 ...... , ,,.,ov~ ....... ,~,-,,-~-.,~,4 by ~*°*'~ ~ .... Based on the 1989 assessment data, the estimated Central Eugene Project Taxable Assessed Value is $98,218,574. 8. Relationship of the Value of Improvements to the Value of Land within the Prelect Area The current relationship of improvement values to land values, based on 1989 assessment records and excluding tax exempt property is 2.68 to 1. The accepted I/L value ratios of healthy, viable, and prosperous areas in Oregon cities are 3.0 to 1 and greater. D. Environmental Conditions Environmental conditions within the Central Eugene Project Area are not expected to change. The area has been an established commercial business area for several years. Most streets, sidewalks, alleys, and sewers are in place and will be upgraded and maintained. The public park areas within the project area will be upgraded and maintained. The public park areas within the project area will be upgraded and maintained as needed. New street trees are to be planted as part of the project. This landscaping should provide a positive environmental impact. 10