Item 3: Ordinance on Downtown Urban Renewal Amendment

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ECC UGENEITYOUNCIL AIS GENDATEMUMMARY Action: Ordinance on Downtown Urban Renewal Plan Amendment Meeting Date: May 24, 2010Agenda Item Number: 3 Department: Planning & Development Staff Contact: Amanda Nobel Flannery www.eugene-or.gov Contact Telephone Number: 541-682-5535 ISSUE STATEMENT Council is asked to approve an ordinance amending the Downtown Urban Renewal Plan, as provided in Attachment A. The purpose of the amendment is to: 1)increase the spending limit by $13.6 million to cover the three specific projects described below; 2)establish an oversight committee to review tax increment spending on an annual basis; and 3)terminate the Downtown District after debt issued to pay for those projects has been repaid or defeased. BACKGROUND Council’s discussion of downtown revitalization is part of a larger conversation on local economic development actions. (See Attachment B for a summary of council discussions and actions as well as public involvement over the past year on fostering a vibrant downtown and boosting the local economy.) On March 8, 2010, the URA Board initiated a process to amend the Downtown Urban Renewal Plan as a funding option for a package of downtown projects described below. Specifically, council moved to forward to the Planning Commission and overlapping taxing districts the proposed amendment to the Downtown Urban Renewal Plan. (At that time, the proposed amendment included elements in support of a potential Veterans Affairs clinic. See the “changes to the downtown urban renewal plan amendment” section below.) Council also requested the City Manager to complete a financial analysis of the impact on School District 4J and, should there be a financial impact, to come back with ways to keep 4J whole, either through an exchange of services or financial help.(See Attachment C for the financial analysis.) - On April 19, council held a public hearing on the ordinance to amend the plan. Thirtyone individuals spoke at the public hearing. On May 10, council held a work session to review comments on the proposed ordinance received from the public, Planning Commission, and overlapping taxing districts. Council moved to direct the City Manager to bring back on May 24: (a) the revised, proposed ordinance, plan, and report for final approval; and (b) a proposal for how members would be chosen for the oversight committee called for by the revised, proposed urban renewal plan. Oversight Committee Staff recommends that council approve the oversight committee members after reviewing a list of possible names compiled by the Mayor. More detailed information about the process is in Attachment D.