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Item C - Urban Renewal Amend.
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Item C - Urban Renewal Amend.
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6/9/2010 1:17:57 PM
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7/8/2004 10:43:54 AM
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Agenda Item Summary
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7/12/2004
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Chapter 3: Expected Impact, Including Fiscal Impact of the Plan, in <br />Light of Added Services or Increased Population. <br /> <br />Development within the Project Area is not expected to have a significant impact on the <br />4-J School system. The zoning criteria of C2 and C3 does not encourage residential <br />housing. The past experience shows residential complexes developed around the pro- <br />ject area have focused on adult housing. Based on this experience, there should be no <br />or minimal impact on the local kindergarten through 12th grade schools. The added <br />adult population created by such housing projects may impact Lane Community Col- <br />lege, particularly the Downtown campus, with increased registration. <br /> <br />The Fourth Amendment follows the passage of Ballot Measure 50 and its implementa- <br />tion rules. In the Measure 50 environment, taxing bodies "forego" revenue produced by <br />the growth in values over a renewal area's frozen base. The property tax impacts of <br />carrying out this amended Plan are shown in Chapter 9 of this Report. <br /> <br />Projects within the Renewal Plan have been chosen for the way in which they support <br />various planning efforts for the downtown area, such as the Downtown Plan. These <br />planning documents were based on assumptions about the expected need for new and <br />improved services due to population growth and other factors. The Renewal Plan is <br />expected to facilitate improvements within the district, according to the overafl planning <br />efforts for the area. <br /> <br />One of the principal objectives of the Renewal Plan is to improve the existing taxable <br />property. Areas adjacent to the plan area are also expected to become more viable. <br />During the period of time when the Renewal Plan is in effect, property values in the <br />district are estimated to increase by over $160 million. <br /> <br />The development site is expected to have a smafl amount of residential development, <br />but it is not expected to significantly impact the school system. Projects in the plan <br />address the expected impacts of area development on police services, transportation, <br />utilities, and other public services. <br /> <br />The Urban Renewal Agency will use tax increment revenues to carry out the plan. The <br />use of tax increment revenues will affect the property tax revenues and bonded debt tax <br />rates of other taxing jurisdictions that share assessed value with Eugene's Urban <br />Renewal Agency. The tax impacts of the Renewal Plan are discussed in detail in Chap- <br />ter 9 of this report. <br /> <br /> 11 <br /> <br /> <br />
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