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NOBEL FLANNERY Amanda From: Michael Russo <mrusso @uoregon.edu> Sent: Sunday, May 05, 2013 4:05 PM To: NOBEL FLANNERY Amanda Subject: Comments on the MUPTE for The Hub Dear Mayor and City Councilors: I have the following comments on the proposed project. • First and foremost, the MUPTE program, with its all -or- nothing approach to giving tax breaks to developers will be amended or discontinued shortly. And thank goodness for that. MUPTE was ill- conceived and extremely poorly designed. • Nonetheless, it would be desirable to have this project. • I assume that the developers of this project realize what a "big ask" this stream of tax breaks is. The project document states "If MUPTE isn't granted, this project will not be built." Well, what else would we expect them to say? Without a process of recapturing tax breaks if the project's economics turn out to be rosier than appear in their spreadsheets (a near certainty), the City is again— though its own doing —in a poor negotiating position. • The City should reject the MUPTE benefits for the project, and then sit down with the developers to try to make the project work. It will be important to provide some face - saving for the developers, perhaps by offering 1 or 2 years worth of tax breaks, • Rather than providing tax breaks at all, the City should consider working with the developers to create some benefits that make sense to both parties. I have two ideas here: • First, although the height is at the city limit, perhaps the city might consider a variance to allow for 1 or 2 more stories. This would boost the returns for the developers, and although this would exceed the city's height limit, the project might be sufficiently unique to do so. I understand from a councilor with which I spoke that there may not be support at this point for exceeding the height limit, but it might be worse to lose the project altogether. • Second, and more preferable in my eyes, is to recognize how this neighborhood will evolve and provide some one- time public funding where it would make sense. Given the prospect of the Northwest Community Credit Union building nearby and other projects, I believe at some point the City will need to build an pedestrian bridge across Broadway /Franklin. Otherwise, a great many highly dangerous crossings will be made daily and also during evening hours. Why not offer to build this bridge in such a way that it offers a direct access (perhaps on the second floor) to the Hub building? This would be a significant amenity with long- lasting benefits to the project's owners and serve the City's interests as well. I appreciate the opportunity to comment on the project. Michael V. Russo 1975 Potter Street Eugene, OR 97405