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Urban renewal presentation outlines tax-increment projects, MUPTI impacts and downtown housing tools
Summary
City staff presented an overview of Eugene's two urban renewal districts, recent amendments increasing spending limits, tools to support downtown housing (including a $3 million Downtown Fee Assistance pilot) and the MUPTI (multi-unit property tax exemption) program and its local tax impacts.
City development finance and community development staff briefed the Budget Committee on May 21 about urban renewal activity and the multi-unit property tax exemption (MUPTI), describing recent plan amendments, projects in the pipeline and how tax increment affects overlapping taxing districts.
Amanda D'Souza, development programs manager, explained that Eugene has two urban renewal districts — a Downtown District and a Riverfront District — and that recent amendments increased the districts' spending limits by $50 million (downtown, June 2023) and $75 million (Riverfront, January 2024). Based on projections presented to the committee, the Downtown District is expected to last about 17 more years and the Riverfront District about 24 years.
Key program tools…
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