How much money is there to spend in the Downtown District?

Urban renewal districts must have a spending limit, also known as the “maximum indebt­ed­ness” amount.  The Downtown District currently has a spending limit of $66 million. The Agency has nearly reached this limit, with the bulk of that funding spent on development of the Downtown Eugene Library, Lane Community College’s Downtown Campus on 10th Avenue, the Farmers Market Pavilion and Plaza, the downtown fiber network, and physical improvements to enhance downtown public safety.

The approved amendment includes a $50 million increase to the spending limit. Now that the Plan is amended, the Agency will continue to collect tax increment revenue within the Downtown Urban Renewal District. The  amendment will not reduce the amount of tax revenue the overlapping taxing districts (such as the City, County, and Eugene 4J School District) are currently receiving from within the Downtown District boundary. Based on current financial projections, a $50 million spending limit increase would extend the life of District by an estimated 19 years. The 2023 Plan amendment does not include any boundary changes to the Downtown District.

Show All Answers

1. What is urban renewal?
2. Where is urban renewal used in Eugene?
3. What has been done in the Downtown District with urban renewal funds?
4. How does urban renewal work?
5. Does urban renewal raise property taxes?
6. How has urban renewal evolved?
7. Who benefits from urban renewal?
8. Where do urban renewal funds come from?
9. What effect does urban renewal have on the other governments in the area?
10. How will urban renewal impact the school district?
11. Who makes the decisions about urban renewal projects and spending?
12. Why did the City amend the Downtown Urban Renewal Plan?
13. Why is the City considering an amendment to the Riverfront Urban Renewal Area?
14. What is the City's next step related to Riverfront and urban renewal?
15. How will the money be spent if the Riverfront Urban Renewal Plan is amended?
16. How will the money be spent now that the Downtown Urban Renewal Plan is amended?
17. How much money is there to spend in the Downtown District?
18. What are the City's next steps related to Downtown and Urban Renewal?