Eugene Moves Forward With Downtown Riverfront Project, Extends MUPTE & LIRHPTE Deadlines
Eugene City Councilors took action on three housing ordinances Tuesday night. This includes the Downtown Riverfront redevelopment project, the Multi-Unit Property Tax Exemption Program (MUPTE) and the Low-Income Rental Housing Property Tax Exemption (LIRHPTE).
The estimated $13.5 million Downtown Riverfront project includes plans to build affordable and market rate housing, with room for retail businesses and a park. To help cover costs, the City of Eugene will issue $12 million dollars in bonds to be repaid with future tax revenue increments from the Riverfront Urban Renewal District.
Councilors voted, 6-2, to authorize the city manager to set terms and conditions for borrowing. Construction on Phase 1, which includes work on roads and utilities is expected to begin in June. Councilors Betty Taylor and Alan Zalenka opposed the ordinance.
Council also voted unanimously to ammend MUPTE and LIRHPTE ordinances to extend deadlines for both programs by 10 years. MUPTE will now sunset in January 2032, and LIRHPTE will end in July 2030. Both ordinances were updated to reflect to new deadlines and changes to codes.
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