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<br />recommended a point system similar to the existing interim criteria. Companies scoring 25 points or <br />greater would receive 100% of the tax exemption benefit. Companies scoring fewer than 25 points <br />would be required to make a public benefit contribution. The committee recommended that funds <br />collected as public benefit contributions be disbursed directly to the City (20%), County (20%), and <br />educational institutions (60%). The designated educational institutions would include Eugene 4J School <br />District, Bethel School District, Lane Community College, and Lane Education Service District, with <br />funds distributed proportional to the then-current permanent property tax rate for each education <br />institution, and prorated between 4J and Bethel school districts based on enrollment. <br /> <br />RELATED CITY POLICIES <br />The enterprise zone tax exemption addresses the following related City policies: <br /> <br />Eugene City Council Vision and Goals Statement: Encourage a strong and vibrant economy, fully <br />utilizing our educational and cultural assets. We will ensure that every person can achieve financial <br />security, enjoy the fruits of their labor, and operate within a sustainable economic structure where <br />business thrives. <br /> <br />Growth Management: The enterprise zone advances the City's Growth Management goals by <br />encouraging more intensive industrial development in a defined area that has been zoned accordingly, <br />and where existing public infrastructure investments have already occurred. <br /> <br />Fair. Stable, and Adequate Financial Resources: The long-term property tax revenues that result from <br />new investments that are encouraged by the short-term tax exemption address the council's goal for <br />financial resources adequate to maintain and deliver municipal services. <br /> <br />COUNCIL OPTIONS <br />The council may choose to: <br />1. Adopt the ordinance at its May 22, 2006, meeting. <br />2. Direct staff to amend the ordinance for approval at its May 22 meeting. <br />3. Delay action on this item until a later date. <br /> <br />CITY MANAGER'S RECOMMENDATION <br />The City Manager recommends that the council adopt the proposed ordinance at its May 22 meeting. <br /> <br />SUGGESTED MOTION <br />No motion is required for the public hearing. <br /> <br />ATTACHMENTS <br />A. Proposed Ordinance <br />B. Resolution 4851 Establishing Interim Local Criteria (2005) <br /> <br />FOR MORE INFORMATION <br />Staff Contact: Denny Braud <br />Telephone: 682-5536 <br />Staff E-Mail: denny.braud@ci.eugene.or.us <br /> <br />LICMOl2006 Council Agendas1M060S081S060S088.doc <br />