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infill development, and brownfield development, and encouraging quality jobs for projects that utilize limited vacant land resources. · Fair, Stable and Adequate Financial Resources. The long-term property tax revenues that result from new investments that are encouraged by the short-term tax exemption address the council's goal for financial resources adequate to maintain and deliver municipal services. COUNCIL OPTIONS 1. Direct staff to proceed with an application to establish an enterprise zone in Eugene based on the recommendation of the Economic Development Committee, with the application package returning to the council for approval prior to the Spring 2005 state application deadline. 2. Provide direction to not prepare an enterprise zone application at this time. CITY MANAGER'S RECOMMENDATION The City Manager approves the staff-developed recommendation that an application to establish an enterprise zone, consistent with the committee's recommendation, and consistent with state guidelines and timeframes, be prepared for City Council approval and submittal to the State of Oregon in the Spring of 2005. SUGGESTED MOTION Move to direct the City Manager to proceed with application to establish an enterprise zone in Eugene, jointly sponsored with and supported by Lane County, based on the recommendation of the Mayor's Committee on Economic Development, and consistent with State of Oregon guidelines. The application package will return to the council for approval in advance of the Spring 2005 State of Oregon application deadline. ATTACHMENTS A. Map of Proposed Boundary B. Staff Analysis of Committee Recommendation FOR MORE INFORMATION Staff Contact: Tom Coyle Telephone: 682-6077 Staff E-Mail: tom.g.coyle~ci.eugene.or.us L:\CMO\2004 Council Agendas\M040929\S040929C.DOC