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· Urban Renewal. The committee discussed the importance of Urban Renewal as an active redevelopment strategy. The committee also generally discussed the potential uses of urban renewal to encourage redevelopment beyond the existing district. Urban Renewal Districts are a powerful tool for economic development. A subcommittee was formed to explore how this tool has been and could be used in Eugene, looking at boundaries, governance models, and reinvestment strategies. Although the subcommittee produced no recommendations, the members agreed that these issues warrant further study. Council Goals This issue relates to several previous council goal statements from 2003-2004: (1) Sustainable Community Growth and Change, and (2) Healthy Natural and Built Environment. Financial and/or Resource Considerations If the City Council approves the recommendations of the Mayor's Committee on Economic Development there would be financial considerations which would need to be determined for the following: 1) financial contribution and support to process a regional buildable lands analysis and 2) prioritizing, finding, and approving budget monies to fund a facilitator position for business assistance. Other Background Information At the January 2004 State of the City address, Mayor Torrey noted his intention to address the issue of economic development in the City of Eugene. He requested that a committee be formed to discuss economic development issues and to develop solutions and strategies for a more vital community. The committee was charged with evaluating the strengths and weaknesses of City policies for achieving Eugene's broad economic goals, and providing specific recommendations to the City Council as to how to best achieve those goals. A diverse group of community members were invited to participate on the committee (committee members are listed on page 1 and 2 of Attachment B). At the initial meeting on March 8, 2004, Mayor Torrey met with the group and related the following charge: · Review the previous plans from 1981 through 1998; · Identify elements that are still relevant; · Make suggestions for adjustments where needed; · Identify gaps and suggest additions and improvements; · Reach out to diverse points of view in crafting recommendations; · Call on a broad range of individuals to provide input and suggestions on matters relating to Eugene's economic development; and · Submit a final report with recommendations to the Eugene City Council. The committee as a whole met regularly since the initial meeting of March 8 on the following dates: April 5, April 20, May 3, May 24, June 14, June 28, and July 9, 2004. Copies of the agendas and minutes from these meetings have been included as Attachment C. Subcommittees met on May 7, May 10, June 1, and June 9, 2004. The committee received numerous documents and reports to review as background in preparation for their work. A list of those materials is included as Attachment D. Timing At his State of the City address, Mayor Torrey indicated that it was his hope that Eugene's elected city officials would adopt an updated economic development strategy before December 1, 2004. L:\CMO\2004 Council Agendas\M040809\S040809B.doc