Item A: Downtown Financing Strategy

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(e)The existence of inadequate streets and other rights of way, open spaces and utilities; (f)The existence of property or lots or other areas that are subject to inundation by water; (g)A prevalence of depreciated values, impaired investments and social and economic maladjustments to such an extent that the capacity to pay taxes is reduced and tax receipts are inadequate for the cost of public services rendered; (h)A growing or total lack of proper utilization of areas, resulting in a stagnant and unpro- ductive condition of land potentially useful and valuable for contributing to the public health, safety and welfare; or (i)A loss of population and reduction of proper utilization of the area, resulting in its further deterioration and added costs to the taxpayer for the creation of new public facilities and services elsewhere. Chapter 5: Relationship Between Existing Conditions and Each Project Activity Undertaken in the Plan All project activities set forth in Section 600 of the Plan are intended to correct the existing deficiencies in the Plan Area as described in this report (See Chapter 2). The proposed 2010 Amendment project activities are: th 1)Assistance to LCC for development on the 10 and Charnelton Site; 2)Additional assistance in funding the Broadway Place Garages; 3)Improvements to the Parks Blocks to provide better opportunities for the Farmers’ Market; and th 4)Assisting with a VA clinic, if the 12 and Willamette site is selected by the VA. th 1)LCC New Downtown Center: The Agency owns the 10 and Charnelton Development Site th bounded by Charnelton Street on the west, 10 Avenue on the south, and Olive Street on the east. The site is significantly underutilized in its present configuration – a quarter block of surface parking and a quarter block remnant from demolition of the former Sears department store. LCC approached the Agency regarding acquisition of the property for a new downtown facility. On January 25, 2010, the URA Board provided direction to enter into an exclusive negotiation with LCC, negotiate a purchase and sale agreement, and return to the URA Board for final approval of the terms. LCC has provided educational services from downtown for over 30 years at 1059 Willamette Street. The current facility no longer meets the needs of the college, and LCC intends to build and own a new, mixed-use building from which to offer educational and other services in downtown Eugene. The extensive hours of operation will create both daytime and evening activity at a key intersection of downtown. Economic opportunities for current and future downtown businesses will be created as students, employees, and visitors support restaurants, retail, services and cultural venues. In addition to Energy Management, Business Development, continuing education, and a 7