Item A: Downtown Financing Strategy

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Section 500 – Land Use Plan The use and development of all land within the Plan Area shall comply with the regulations prescribed in the City’s comprehensive plan, zoning ordinance, subdivision ordinance, City charter, or any other applicable local, State or Federal laws regulating the use of property within an urban renewal area. Section 600 – Project Activities To achieve the objectives of this Plan, the Agency may undertake the following activities, and no others, with tax increment funds: A.LANE COMMUNITY COLLEGE NEW DOWNTOWN CENTER The Agency may spend up to $8 million of tax increment funds (not counting payment of debt issuance or interest costs) to assist LCC in the development of a new downtown building for its th programs, at the 10 and Charnelton Site. Upon agreement by LCC and the City, the project may include a public plaza or open space area at the site and potentially a downtown public safety station. LCC is proposing to build a new 80,000 square foot mixed-use state of the art downtown education facility. The education building is targeted for LEED Platinum certification. LCC is th also considering the construction of approximately 200 beds of student housing on the 10 & Charnelton site. The new highly-sustainable education building is expected to be a teaching tool for LCC’s nationally recognized Energy Management program and become a model for sustainable development. The new education facility will secure LCC’s presence downtown for several decades and will be a major activity generator for downtown. Existing education programs and new programs to be included in the new building will draw thousands of students and visitors to the facility each year. Additionally, new housing residents will generate more activity in the downtown core. This landmark building, coupled with the activity generated through the project, will become a major anchor which will support adjacent retail and services, enhance the perception of safety by introducing high volumes of new pedestrian traffic, and attract new investments in the area. The Agency may provide assistance with project related costs for the new education facility and housing, including construction hard and soft costs, site improvements, infrastructure, open space, green building features, art and other project related cost. The Agency may acquire the existing LCC Downtown Center property located at 1059 Willamette Street. This acquisition would facilitate its redevelopment and reuse. If acquired, the property would be redeveloped for either private or public uses pending future action by the Agency Board. Such redevelopment would be accomplished either through retention, resale, or lease depending on the redevelopment plan for the property. It is anticipated that redevelopment of the property would be accomplished by the end of 2019. Proposed Downtown Urban Renewal Plan – March 2010 - 4 -