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Section 108 loan as a financing tool. The non-emergency ordinance established the City’s general <br />ability to borrow for Section 108 projects with individual projects to be approved by council resolution. <br /> <br />The City has focused use of the Section 108/BEDI funds on the Beam Development project at the heart <br />of downtown. The City has an agreement with Beam Development to transform the important <br />intersection of Willamette and Broadway into a vital area with restaurants, retailers, and office space. <br />- <br />Section 108/BEDI funds will be utilized in two stages: Project #1 loan for acquisition of the properties <br />- <br />and Project #2 loan to Beam Development for rehabilitation of the Centre Court building. The City <br />Council approved a resolution in support of Project #1 on July 23, 2007, and a resolution for Project #2 <br />on January 11, 2010. <br /> <br /> <br />RELATED CITY POLICIES <br />The Action Plan must be developed in accordance with the Eugene-Springfield 2010 Consolidated Plan, <br />which assesses local needs and establishes a five-year strategic plan. In order to allocate funds to <br />specific programs or projects, HUD regulations require a citizen participation process, including <br />advertising and conducting a public hearing, followed by City Council action. <br /> <br />The Action Plan is also consistent with other plans adopted by the local jurisdictions, such as the <br />Residential Land Use and Housing Element of the Metropolitan Area General Plan, Eugene City <br />Council Adopted Growth Management Policies, the Lane County Ten-Year Plan to End Chronic <br />Homelessness, and the Lane County Continuum of Care Plan. <br /> <br /> <br />COUNCIL OPTIONS <br /> <br />The City Council can approve, not approve, or modify the One-Year Action Plan for use of Federal <br />CDBG and HOME funds for 2010/11. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br /> <br />The City Manager recommends approval of the One-Year Action Plan for use of Federal CDBG and <br />HOME funds in 2010/11. <br /> <br /> <br />SUGGESTED MOTION <br /> <br />Move to approve the One-Year Action Plan for use of Federal CDBG and HOME funds in 2010/11. <br /> <br /> <br />ATTACHMENTS <br /> <br />A. CDBG Sources and Uses Table and Summary of Recommended Uses <br />B. HOME Allocation Table and Summary of Recommended Uses <br />C. CDBG Advisory Committee and Housing Policy Board Membership <br /> <br /> <br />FOR MORE INFORMATION <br /> <br />Staff Contact: Stephanie Jennings <br />Telephone: 682-5529 <br />Staff E-Mail: stephanie.a.jennings@ci.eugene.or.us <br /> <br /> <br />