Item A: Downtown Financing Strategy

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The 2010 Amendment follows the passage of Ballot Measure 50 and its implementation rules. In the Measure 50 environment, taxing bodies “forego” revenue produced by the growth in values over a Plan Area’s frozen base. The Urban Renewal Agency will use tax increment revenues to carry out the Plan. The use of tax increment revenues will affect the property tax revenues and bonded debt tax rates of other taxing jurisdictions that share assessed value with Eugene’s Urban Renewal Agency. The property tax impacts are described in Chapter 9. Chapter 4: Reasons for Selection of the Plan Area The original Plan Area was adopted in 1968 with approximately 70 acres. This area was selected after comprehensive community process under the guidance of the Federal Department of Housing and Urban Development (HUD). In 2010, the URA Board proposed an expansion to the Plan Area by 5 acres to include the potential VA Clinic area. (See Exhibit D for a map of the Plan Area with the expansion area highlighted.)Two of the four goals of the Plan are 1) improving the function, condition, and appearance of the Plan Area and 2) reducing blight and blighting influences. According to ORS 457.010, "blighted areas" means areas that, by reason of deterioration, faulty planning, inadequate or improper facilities, deleterious land use or the existence of unsafe structures, or any combination of these factors, are detrimental to the safety, health or welfare of the community. A blighted area is characterized by the existence of one or more of the following conditions: (a)The existence of buildings and structures, used or intended to be used for living, com- mercial, industrial or other purposes, or any combination of those uses, that are unfit or unsafe to occupy for those purposes because of any one or a combination of the following conditions: (A) Defective design and quality of physical construction; (B) Faulty interior arrangement and exterior spacing; (C) Overcrowding and a high density of population; (D) Inadequate provision for ventilation, light, sanitation, open spaces and recreation facilities; or (E) Obsolescence, deterioration, dilapidation, mixed character or shifting of uses; (b)An economic dislocation, deterioration or disuse of property resulting from faulty planning; (c)The division or subdivision and sale of property or lots of irregular form and shape and inadequate size or dimensions for property usefulness and development; (d)The laying out of property or lots in disregard of contours, drainage and other physical characteristics of the terrain and surrounding conditions; 6