Item 1: Ordinance on Downtown Urban Renewal Amendment

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A public notice was mailed to Eugene property owners on March 19. The Planning Commission discussed the amendments on March 29 and adopted a motion recommending “council approval of the amendments based on the Planning Commission’s review of the proposed new boundary and the four new projects contemplated in the plan with respect to their consistency with the City’s land use policies. The motion does not include consideration of the financial aspects of the plan.” (Passed 5:1 Warness opposed). The Eugene Redevelopment Advisory Committee (ERAC) reviewed the proposed amendments on April 8 and voted in support of the proposed plan amendments. ERAC also indicated that, given the proposed conclusion of the Downtown District, the council should begin a process to identify alternative program(s) and tools to support long-term, desirable downtown improvements such as new housing. The final public notification element that is required by statute is this public hearing. Maximum Indebtedness Maximum indebtedness refers to a total spending limit during the life of the plan. For Eugene, the maximum indebtedness was adopted in 1998 and spending towards that limit began in fiscal year 1999. The current “maximum indebtedness” of $33 million has almost been fully spent, with about $26 million Adopting a “maximum indebtedness” figure does not authorize or obligate the spent on the library. district to enter into debt. Rather, it allows current and future URA Boards to have the ability to fund projects over time, either with cash or by issuing debt. Expanding the District boundary allows the th Agency to provide financial assistance to the 12 & Willamette clinic location if the VA selects that site. Increasing the maximum indebtedness and expanding the boundary will allow the URA to increase its financial capacity to fund the four projects. Collectively, the projects will foster a vibrant downtown and boost the local economy. Timeline The council is scheduled to review comments received from the public hearing, Planning Commission, and taxing districts at a work session on May 10. The council action on the plan amendments is scheduled for May 24, 2010. RELATED CITY POLICIES Downtown revitalization and the projects referenced in this material are supported by the Downtown Plan, the council’s 2009 Vision & Goals, and a number of plans and reports related to downtown. A number of financial policies would guide the creation of the final finance plan, including the City’s debt policies. COUNCIL OPTIONS None. Public hearing only. CITY MANAGER’S RECOMMENDATION None. Public hearing only. SUGGESTED MOTION None Z:\CMO\2010 Council Agendas\M100419\S1004191.doc