DOWNTOWN RIVERFRONT <br />LAND USE COMPONENTS <br />CA 19-1, RA 19-1, Z 19-5, WG 19-3, ST 19-3, and SDR 19-2 <br />19,2019 <br />District will collect about $2.8 million by the time the District sunsets in 2024, and the City will collect <br />about $19.8 million from 2025 to 2049.1 <br />If no private development occurs, the property will continue to generate almost no tax revenue. The <br />non-fiscal impacts of the WDA concept plan have limited negative consequences and many positive <br />elements. The proposal will establish a new neighborhood with greater connectivity and <br />opportunities for auto-free travel and lifestyle. The proposal will not displace any existing residents <br />and will contribute jobs and housing for a variety of income levels, including affordable housing for <br />low-income households. The proposal creates an inviting, accessible shared park space along the <br />Willamette River, with improved riparian habitat. <br />The River Guides reviewed and discussed the Downtown Riverfront Concept Plan, terms, and cost- <br />benefit analysis over two meetings. On June 15, 2018, the River Guides unanimously approved a <br />motion recommending approval of the proposed WDA concept and terms. City Council initiated a land <br />use code amendment to implement the plan on July 9, 2018. <br />Redevelopment of the Downtown Riverfront property supports many goals for Eugene and downtown, <br />as listed below. <br />Eugene Downtown Plan <br />• Incorporate the Willamette River as an integral element to downtown planning and <br />development. <br />Envision Eugene Pillars <br />• Promote compact urban development and efficient transportation options. <br />• Integrate new development and redevelopment in the downtown, in key transit corridors and <br />in core commercial areas. <br />• Meet the 20-year multi-family housing need within the existing Urban Growth Boundary. <br />• Make compact urban development easier in the downtown, on key transit corridors, and in <br />core commercial areas. <br />• Provide housing affordable to all income levels. <br />• Provide ample economic opportunities for all community members. <br />• Protect, repair, and enhance neighborhood livability. <br />• Protect, restore, and enhance natural resources. <br />Regional Prosperity Economic Development Plan <br />Strategy 5: Identify as a Place to Thrive - Priority Next Step - Urban Vitality <br />As we foster a creative economy, dynamic urban centers are an important asset. Eugene, <br />Springfield and many of the smaller communities in the region recognize the importance of <br />supporting and enhancing vitality in their city centers. Building downtowns as places to live, <br />work, and play will support the retention and expansion of the existing business community <br />and be a significant asset to attract new investment. The Cities of Eugene and Springfield will <br />1 Cost-Benefit Analysis: Redeveloping the Downtown Riverfront Site. City of Eugene. July 3, 2018. <br />City of Eugene FINAL SUBMITTAL <br />