Item 4-Ord.on Urban Renewal Pln - Laserfiche WebLink

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The threshold number can be changed by the council to $250,000. Because the Type Two amendments must meet both tests (substantial change in the plan's objectives and exceeding $500,000) the amount does not refer to an annual figure, but rather a single amendment or package of amendments. Additional Background on the Process Used to Update the Plan In January 2003, the council began a multi-step process to implement the Vision for a Greater Downtown Eugene. This and the recently updated Downtown Plan include recommendations to enact implementation tools, including using urban renewal as a financing tool. Since January 2003, the new Downtown Plan has been adopted, two property tax exemption programs have been put into place, downtown loan programs have been created, and the Riverfront Urban Renewal Plan was updated. In March 2004, the LIRA voted to forward the proposed amendments to the Downtown UR Plan to other taxing districts, the Planning Commission, and the public for comment. These amendments included: 1) removing the restriction on the use of tax increment funds solely for library projects; 2) extending the district timeline to 2029; and 3) changing the maximum indebtedness. ERAC and the Planning Commission recommended the first two elements but did not recommend changing the maximum indebtedness as part of this amendment process. Other amendments reflect the council's previous direction on projects, method of amending the Downtown UR Plan in the future, and changing language in the plan to conform to current State statutes. As required by State statute, the impacted taxing jurisdictions have been notified and sent a copy of the proposed amendments to the Downtown UR Plan. A Lane County Finance committee that included three commissioners met with City of Eugene staff. While some members lamented the impact of tax increment financing on the County, they did not take a position on the updated plan. In addition to the August public hearing, these amendments have been the subject of significant opportunity for public comment. At each of the public information sessions related to the update of the Downtown Plan, use of urban renewal funding was highlighted as a tool. For example, one event, "Lookin' Forward at Downtown," drew over 125 people during the December 5, 2003, First Friday Artwalk. In addition to visual displays and handouts, staff encouraged comments. That event was advertised in both the Register-Guard and Eugene Weekly. RELATED CITY POLICIES Improving the viability of downtown has been a community and City Council goal, in some form, for decades. The adopted Growth Management Policies, the Vision for Greater Downtown Eugene, the Council's 2001-2002 Vision and Goals Statement, and the new Downtown Plan all include policies or strategies to create a more vital downtown. There is a close relationship between urban renewal goals and these policies. The Downtown Plan, for instance, includes a policy to "use downtown development tools and incentives to encourage development that provides character and density downtown." COUNCIL OPTIONS The council may approve the amendments as recommended, may alter them, or may choose to not approve the amendments. L:\CMO\2004 Council Agendas\M040913\S0409134.doc