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eligible firm would receive 100% of the Zone's tax benefits if it expanded <br /> on existing, redeveloped, brownfield, or infill sites. Eligible firms would <br /> receive 67% of the tax benefits if the new investment occurred on a <br /> greenfield site (City staff interprets the Oregon Administrative Rules to <br /> preclude reduction of the tax exemption benefit by more than one-third). <br /> Those firms building on greenfield sites could receive up to 100% of the <br /> tax benefits if they meet additional criteria related to attractive wages, <br /> employee benefits, ,job training and advancement opportunities, job <br /> retention, and job programs that assist disadvantaged workers. <br /> <br /> · Urban Renewal Districts are a powerful tool for economic development. <br /> A subcommittee was formed to explore how this tool has been and could <br /> be used in Eugene, looking at boundaries, governance, models, and <br /> reinvestment strategies. Although the subcommittee produced no <br /> recommendations, the members agreed that these issues warrant further <br /> study. <br /> <br /> · The City of Eugene should continue to support quality infrastructure. <br /> <br /> The Committee believes the actions recommended here will be individually <br /> helpful for economic development. Given the diversity of opinions about <br /> economic development in Eugene, the Committee recommends these tools as an <br /> important step, and one that affords the City Council a chance of having public <br /> support and implementation. <br /> <br /> The details of these recommendations, and the Committee's reasons for <br /> recommending them, are contained in the Committee's report. Supplementary <br /> material referenced in that report provides yet more detail. <br /> <br />Page ii Recommendations July 2004 Mayor's Committee on Economic Development <br /> <br /> <br />