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REPORT ON THE DOWNTOWN URBAN <br />RENEWAL DISTRICT PLAN <br />Chapter 1: Introduction <br />The 2010 Amendment to the Downtown Urban Renewal District Plan (the "Plan ") makes the <br />following changes: <br />■ Specifies three project activities to be undertaken and removes language that allowed for <br />flexibility in project selection; <br />■ Sets an increase in the maximum indebtedness to allow for those specific projects; and <br />Sets the expectation that the Downtown Urban Renewal District will be terminated after <br />repayment or defeasance of all debt issued to fund the limited set of projects. <br />The City of Eugene has prepared an amendment to the Plan, originally adopted on July 1968 <br />and modified December 1968, December 1989, June 1998, and September 2004. City Council <br />considered downtown over the course of 2009 and 2010 with the desire to foster a vibrant <br />downtown while also providing near -term economic stimulus. City Council discussed desired <br />downtown outcomes, selected four key strategies, and, ultimately, selected specific projects. <br />This Report accompanies the Plan and consists of text, tables, and appendices. <br />The Downtown Urban Renewal District contains approximately 70 acres (the "Plan Area "). The <br />legal description for the Plan Area is in Section 300 of the Plan and is further described on <br />graphic exhibits included in the Plan and in the appendix to this Report. <br />Report on the 2010 Amendment 1 <br />