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Members urge clearer funding structure as Eugene Hotel proposal would use large share of RDA funds
Summary
Board members agreed the Eugene Hotel restoration could have substantial downtown impact but urged the RDA to establish clearer criteria and a structure for future large projects after this proposal will substantially reduce available funds.
Board members discussed the broader implications of supporting a large-scale private restoration project with RDA funds, saying the Eugene Hotel could spur downtown investment but noting it differs from prior curb-appeal and housing-improvement grants.
One member suggested creating a formal structure for future large projects so the RDA and the city can align available support; another member referenced earlier White Block support via WEDC as a comparable precedent. Administrator Rindy recommended staff work with the board to define long-term goals and funding strategies and noted that the closing of TID 7 in 2033 may generate additional affordable-housing funds in the future. Members asked staff to return with proposals on how to balance smaller housing programs with occasional larger economic-development awards.
