Ordinance No. 20459 - Laserfiche WebLink

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These three projects also support the Plan goal to strengthen the economic conditions of the Plan Area. One measure of this goal is the expected increase in the taxable property values caused by the projects. Areas adjacent to the Plan Area are also expected to become more viable. From FY2010/2011 through the estimated remaining life of the District (FY2017/2018), property values in the Plan Area are estimated to increase by about $38 million. The projects will also contribute to the goal of enhancing downtown's role as the regional economic, governmental, and cultural center and central location for public and private development and investment. The 2010 Amendment projects are not expected to have a significant impact on the Eugene 4j School District. The zoning criteria of C2 and C3 do not encourage residential housing. However, the LCC new downtown campus project on the 10 & Charnelton Development Site may include housing. Most likely the housing would be for college -aged students or adults. Past experience also shows residential complexes developed around the Plan Area have focused on adult housing. Based on LCC's preliminary plans and the prior experience, the new downtown campus should have no or minimal impact on the Eugene 4j School District. The added adult population created by this housing project may impact LCC, particularly the downtown campus, and the University of Oregon with increased registration. The other pro- jects in the Plan are not expected to have any significant impact on the Eugene 4j School District. All three of the projects, like all development projects, are expected to impact police services, transportation, utilities, and other public services. Projects within the Plan Area were chosen for the way in which they support recent City Council strategies for downtown and planning efforts for the downtown area, such as the Downtown Plan. These planning documents were based on assumptions about the expected need for new and improved services due to population growth and other factors. The Plan is expected to facilitate improvements within the district, thereby implementing the goals of the planning documents. Therefore, the projects under the Plan do not result in an intensification of development beyond that previously anticipated under the planning documents. 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 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 the Plan Area. The property tax impacts are described in Chapter 9. Report on the 2010 Amendment 5