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Item A: Downtown Financing Strategy
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Item A: Downtown Financing Strategy
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3/8/2010
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<br /> <br />I. ADOPTION <br /> <br /> <br />Resolution <br />Date Purpose <br />Number <br />Resolution 3-Jul-68 Adoption of the Urban Renewal Plan for the Central Eugene Project (the <br /> No. 257 Plan). <br /> <br />II. AMENDMENTS <br /> <br /> <br />Amendment <br />Date Purpose <br />Number <br />Resolution 19-Dec-68 Modified the Plan to allow for additional projects as required by HUD <br /> <br />o <br /> No. 1609 to receive additional federal funds. <br />Ordinance 8-Nov-89 Aligned the Plan with Metro Plan policies: strengthen the area's <br /> <br />o <br /> No. 19648 position as a regional service center, maintain the Eugene central <br />business district as a vital center, incorporate principles of compact <br />urban growth, encourage retail and commercial development in the <br />downtown area, and promote the development of parking structures <br />in the downtown core. <br />Expiration set for FY10. <br /> <br />o <br />Ordinance 1-Jun-98 Responded to Measure 50 to a) include a maximum amount of <br /> <br />o <br /> No. 20120 indebtedness and b) select Option 1 for the city-wide special levy as <br />the method for collecting ad valorem property taxes for payment of <br />debts related to urban renewal projects. <br />Limited expenditure of new funds to completing existing projects and <br /> <br />o <br />construction of a new main library. <br />Removed the business assistance loan program. <br /> <br />o <br />Approved a plan to reduce district administration costs over the <br /> <br />o <br />following three years. <br />Ordinance 13-Sep-04 Expanded the projects for which tax increment funds could be used <br /> <br />o <br />No. 20328 Created a public advisory committee <br /> <br />o <br />Added the requirement for specific Agency approval of projects <br /> <br />o <br />greater than $250,000 (other than loans), and adding a limit of <br />$100,000 on the mandate for a public hearing in the event of a plan <br />change (applies to minor amendments that can be approved by the <br />URA without ORS 457.095 approval – Section 1200, C of the 2004 <br />Plan). <br />Added the Downtown Revitalization Loan Program (DRLP). <br /> <br />o <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Proposed Downtown Urban Renewal Plan – March 2010 <br />- 1 - <br /> <br />
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