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6. June 14: The full Committee continued to discuss the policies that can address economic development issues. 7. June 28: The full Committee reviewed a draft of the proposed economic development recommendations. 8. July 9: The full Committee made final edits to its recommendations. Committee members subsequently approved the final report by email. Members also formed subcommittees to discuss specific economic development tools: · Urban Renewal District Agency: The subcommittee discussed the merits of creating an independent agency responsible for managing the City's Urban Renewal district. · Enterprise Zone: The subcommittee worked to define the geographic boundaries of a proposed Enterprise Zone, and the criteria businesses would have to meet to be eligible to receive property tax breaks associated with such a Zone. HISTORY OF ECONOMIC DEVELOPMENT POLICIES IN EUGENE Over the last 25 years, the City haS developed economic strategies to respond to changing economic circumstances. Economic conditions in the community have changed as regional and global market forces have shifted. In summary: · Six-Point Program for Economic Diversification, 1981. The Program was developed during the timber recession of the early 1980s. This policy focused on economic diversification and halting the deterioration in the local economy. · Action Plan, 1982. The Plan was developed to carry out the objectives of the Six-Point Program for Economic Diversification. The plan recognized that the City's role in economic development was best served by focusing more on long-range goals while acknowledging that some quick steps also needed to be taken, and that diversification would occur largely through the expansion of local firms. The plan also recognized that financial institutions, developers, busiaesses, and private business associations play a major role in successful economic development. · Action Plan, 1985. The 1982 Action Plan was updated to better reflect the changing conditions of the local economy. The Six-Point Plans helped to establish many successful economic development tools. The Plans helped create the Business Assistance Team, capitalize the Business Development Fund, start-up the Willow Creek Park One Industrial Incubator, merger of City and County job training programs, helped to form the Eugene/Springfield Metropolitan Partnership, streamlined the City's business development regulations, and created the Permit and Information Center as a one-stop center. Mayor's Committee on Economic Development July 2004 Recommendations Page 3