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ATTACHMENT B <br /> <br /> Analysis of Committee Recommendation <br /> <br />ZONE BOUNDARY (See Map- Attachment B) <br /> <br />The boundary recommendation includes the boundary of the expired West Eugene Enterprise Zone plus <br />the other adjacent industrial-zoned properties that were not included in the former zone. Nearly all of <br />Eugene's industrial-zoned property is concentrated within the proposed boundary. <br /> <br />The objective is to provide an incentive for industrial development in a targeted area that has been <br />planned for via zoning and existing infrastructure investments. Overlaying the short-term tax incentive <br />on this area would help assure that the City receive a long-term return on these infrastructure <br />investments. <br /> <br />What objectives are met with this boundary recommendation? <br /> <br /> a. Boundary allows nearly all existing Eugene industrial companies, large and small, to <br /> have access to the tax exemption incentive for new investments. <br /> b. Provides incentives for new development, redevelopment, infill, and brownfield <br /> development in a compact area that has been planned for industrial development. <br /> c. Allows Eugene to remain competitive for new and existing business investments, and <br /> helps assure that existing companies will remain in Eugene. <br /> d. New development of vacant parcels will add value to adjacent, targeted <br /> redevelopment properties and enhance their redevelopment potential over time. <br /> e. Improves Eugene's image as a place to conduct business. <br /> f. Maximizes the opportunity to attract industrial developments that, in the long-term, <br /> grow the property tax base. <br /> <br />Should the proposed boundary be expanded to include other properties? <br /> <br />The only other major industrial-zoned property not included in the proposed boundary is the Chad Drive <br />campus industrial area. The Committee discussed the inclusion of this area, but there was limited <br />support for this option given the fact that most of the new development would occur on greenfield sites, <br />and given the non-industrial character of development that is occurring in this specialty zone area. <br /> <br />Should greenfield development sites be eliminated from the proposed boundary? <br /> <br />There are a few primary concerns associated with the elimination of greenfield sites from the boundary: <br /> <br /> a. The concept of"leveling the playing field" between redevelopment and greenfield <br /> development can only be realized if there are no other investment location choices <br /> besides Eugene. For example, a redevelopment/brownfield tax exemption would be <br /> effective if two Eugene sites (greenfield vs. brownfield) were competing for an <br /> <br /> L:\CMO\2004 Council Agendas\M040929\S040929C.DOC <br /> <br /> <br />