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City Manager's Office <br /> City of Eugene <br /> NE S RE L E A S E (541) 68 O50gOn 97401 105 <br /> (541) 682-5414 FAX <br /> (541) 682-5045 TTY <br /> uVww.eugene-or.gov <br /> August 5, 20 8 <br /> CONTACT: ric Jones, Public Works Public Affairs Manager, 682-5523 <br /> 5 33ls ~ lac 1~obesd~- <br /> City urchases Green Property in South Eugene <br /> The Ci of Eugene today announced the purchase of 39.9 acres of land in south <br /> <br /> ;Eugene, com only referred to as the Green property, for $1.6 million. <br /> <br /> j Theo ner of the property, Green Valley Glen, previously offered the property to the City <br /> for $3.8 millio .The City declined to exercise an option to purchase the land at that price and <br /> renegotiated t e transaction for $1.6 million. <br /> The Ci will use three funding sources for the purchase: the parks system development <br /> charge (SDC) fund, the stormwater fund, and funds from the 2006 Parks and Open Space Bond <br /> Measure. Ea h fund will cover roughly one-third of the cost, with a maximum of $500,000 to <br /> come from th parks bond fund. <br /> "My tw objectives all along have been to preserve this piece of the Amazon Creek <br /> ;headwaters p operty for future generations, and to do so while honoring the voters' intent for all <br /> <br /> ithe uses of th Parks Bond funds," said Mayor Kitty Piercy. "This acquisition achieves both of <br /> <br /> jthose purpos s. I greatly appreciate the ad hoc advisory committee for helping to clarify the <br /> issues, and al o the staff's work as good stewards of public resources in successfully <br /> ,negotiating thi purchase." <br /> <br />