Development can be complex. The City seeks to make it less complex by facilitating development and good design in downtown Eugene and beyond- this is the role of the Development Investment Group (DIG). DIG supports each stage of development as it occurs: idea development, project financing and preliminary design, initial land use feasibility and site/building selection, construction, project completion, and tenant needs.
In 2017, the Eugene/Springfield/Lane County Brownfields Coalition received funding from the U.S. Environmental Protection Agency to help property owners evaluate sites for hazardous substances and petroleum contamination, assess clean-up options and costs, and identify the potential value and market for their property.
The City of Eugene offers a program that benefits owners of historically significant properties. If you own a National Register property or a City Landmark, you could potentially receive an award of up to $1,000 to make repairs or renovations to your structure. Awards shall be matched by the owner dollar-for-dollar.
The State Historic Preservation Offices works toward preserving the places that give our nation a cultural identity found in the built environment. Historic Preservation Fund (HPF) grants are awarded annually based on an apportionment formula. The National Park Service and SHPOs, along with the Certified Local Governments form provide the structure for preservation efforts to be connected on the national, state, and local levels.
The MUPTE is a 10-year property tax exemption to stimulate the construction of multi-unit housing in key areas and to ensure use of the core area as a place for people to live and work.
A 3-5 year tax exemption with the primary purpose of stimulating new investments that create jobs in the zone. Eligible new investments within the Zone can be exempted from property taxes for a period of three years, and potentially up to five years.
The program offers a 10 year property tax exemption on the new structure, or incremental change in the property value of the building that comprises the project.Specifically, an eligible project consists of ground-level commercial with one or more upper floors of residential housing that has been newly constructed, reconstructed or rehabilitated.
The LIRPTE provides a 20-year exemption from ad valorem taxes for properties offered for rent or held for the purpose of developing low-income rental housing. Applicants requesting a 20 year exemption are not required to be a nonprofit in certain instances.
Tax Increment Financing, or Urban renewal, is a tool used by municipalities to finance improvements and redevelop in specific areas of a city by reinvesting the increase in the area's property taxes. Eugene has two urban renewal districts: the Downtown Urban Renewal District and the Riverfront Urban Renewal District. More information about both districts can be found below.
The Federal Historic Preservation Tax Incentives program encourages private sector investment in the rehabilitation and re-use of historic buildings. It creates jobs and is one of the nation's most successful and cost-effective community revitalization programs.
These loans encourage investments within the Downtown Urban Renewal District in ways that contribute to its economic vibrancy and established goals. This flexible financing program supports unique redevelopment opportunities, specific downtown redevelopment challenges, as well as individual project financing needs in a way that help make our downtown dreams a reality.
River Loans offer flexible financing to support investments within the Riverfront Urban Renewal District that align with the community’s vision and encourage a robust and thriving area. This funding assistance is available for projects that contribute to the renewal and redevelopment of our river district, along the Willamette River, to create an attractive place to work, visit and play.