HomeMy WebLinkAboutItem B: West Broadway Update
EURA
UGENE RBAN ENEWAL GENCY
AIS
GENDA TEM UMMARY
Work Session: West Broadway Update
Meeting Date: February 20, 2008 Agenda Item Number: B
Department: Planning and Development Staff Contact: Denny Braud
www.eugene-or.gov Contact Telephone Number: 682-5536
ISSUE STATEMENT
The Urban Renewal Agency (URA) has signed purchase option agreements on several properties within
the West Broadway redevelopment area. At the February URA work session, the URA Board asked the
Agency Director to bring back a methodology for soliciting offers from parties interested in an
assignment of the purchase options.
BACKGROUND
At the February 11 work session, the URA passed the following motion:
Move to direct the Agency Director to bring back to the URA, as soon as possible, a methodology
for soliciting offers from parties interested in an assignment of the purchase options not being
exercised by the URA, with the first right to acquire the options to the tenant for the value that the
URA paid for the option, and then opening it up to others with some kind of provision that provides
for a reasonable time frame for redevelopment after any demolition, with serious consequences if
that redevelopment does not occur.
Staff is currently working with the City Attorney to draft a methodology to include the provisions
outlined in the above motion. Due to the short turn-around time, the proposed methodology will be
distributed under separate cover prior to the February 20 work session.
RELATED CITY POLICIES
Future redevelopment of the West Broadway Redevelopment Area is consistent with the policies and
implementation strategies included in the Downtown Plan, including:
Downtown development shall support the urban qualities of density, vitality, livability and
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diversity to create a downtown, urban environment.
Actively pursue public/private development opportunities to achieve the vision for an active,
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vital, growing downtown.
Use downtown development tools and incentives to encourage development that provides
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character and density downtown.
Promote multi-story, mixed-use structures downtown through financial incentives or code
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amendments.
Stimulate multi-unit housing in the downtown core and on the edges of downtown for a variety
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of income levels and ownership opportunities.
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Provide and promote development and community events that reinforce downtown’s role as the
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cultural center for the city and region.
Reinforce the creative, distinctive culture of downtown as the arts and entertainment center of
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the city.
In addition, the future development of the West Broadway Redevelopment Area is responsive to the
following Growth Management policies:
Policy 1: Support the existing Eugene Urban Growth Boundary by taking actions to increase
density and use existing vacant and under-used land within the boundary more
efficiently.
Policy 2: Encourage in-fill, mixed-use, redevelopment, and higher density development.
Policy 3: Encourage a mix of business and residential uses downtown using incentives and zoning.
Policy 10: Encourage the creation of transportation-efficient land use patterns and implementation
of nodal development concepts.
Policy 14: Development shall be required to pay the full cost of extending infrastructure and
services, except that the City will examine ways to subsidize the costs of providing
infrastructure or offer other incentives that support higher-density infill, mixed use, and
redevelopment.
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This item is also related to one of the 2007-2008 Council Goals: Downtown InitiativeFacilitate
significant revitalization of downtown core.
COUNCIL OPTIONS
1. Provide direction for the Agency Director to solicit offers from parties interested in an assignment of
the purchase options not being exercised by the URA based on an approved methodology.
2. Let the purchase options expire.
AGENCY DIRECTOR’S RECOMMENDATION
The Agency Director recommends that offers be solicited from parties interested in an assignment of the
purchase options not being exercised by the URA based on an approved methodology.
SUGGESTED MOTION
Move to direct the Agency Director to solicit offers from parties interested in an assignment of the
purchase options not being exercised by the URA based on the methodology presented at this work session.
ATTACHMENTS
None.
FOR MORE INFORMATION
Staff Contact: Denny Braud
Telephone: 682-5536
Staff E-Mail: denny.braud@ci.eugene.or.us
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