Item A: Downtown Financing Strategy

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3.Employment In April 2008, there were 299 employers with 4,791 employees in the Downtown Urban Renewal District. The largest employers in the district were Professional, Scientific, and Technical Services (18.4%), Health Care and Social Assistance (15.8%), Government (12.6%), and Accommodation and Food Services (12.3%) (Data: Lane Council of Governments, Oregon Employment Departments 2008 Quarterly Census of Employment and Wages (QCEW)). C. Economic Conditions 1.Value of Property The FY2009/2010 taxable assessed value for the entire City is $11,633,024,852. The total assessed value for the Plan Area as of FY2009/2010 is $154,980,036. The table below demonstrates that the frozen base for the combined urban renewal districts is well within the 15% limit imposed by ORS 457. Table 4 – Assessed Value of the Frozen Base Downtown Urban Riverfront Urban Total as a % Total Renewal District Renewal District of City AV Frozen Base $31,386,991 $50,609,448 $81,996,439 0.7% After expansion of the boundary for the district, the frozen base will increase by approximately $14 million, bringing the total frozen base for all districts to 0.8% of assessed value in the City. 2.Relationship of the Value of Improvements to the Value of Land The current ratio of improvement value to land value within the Plan Area, based on 2009 assessment records and excluding all tax exempt property, is 3.3 to 1. The accepted improvement to land value ratios of healthy, viable, and prosperous areas in Oregon cities are 5 to 1 and greater. D. Environmental Conditions Environmental conditions within the Plan Area are not expected to change. The area has been an established commercial business area for many years. Most streets, sidewalks, alleys, and sewers are in place and will be upgraded and maintained. The public park areas within the Plan Area will be upgraded and maintained as needed. 4