12/09/2020 - Agenda City of Tigard
Town Center Advisory Commission Agenda
Aft-
MEETING DATE/TIME: December 9, 2020- 6:30 to 8:30 p.m.
MEETING LOCATION: Members Remote via MS Teams
Public— (971) 256-0577, PIN = 13125# Email comments to Sean@tigard-or.gov
1. CALL TO ORDER Chair 6:30
2. CONSIDER MINUTES Chair 6:35
3. FOLLOW UP FROM PREVIOUS MEETINGS Sean 6:40
4. NEW CITY FACILITIES PLANNING Kenny Asher/Nadine Robinson 6:45
5. MAIN STREET GREEN STREET PHASE 2 Andy Newbury/Cristina Zellmer 7:30
6. CONSIDER RECOMMENDING CITY CENTER UR PLAN
SUBSTANTIAL AMENDMENT Sean 7:45
7. PLANNING FOR JANUARY TCAC GOAL SETTING MEETING Kate 8:00
8. NOMINATIONS FOR 2020 TCAC OFFICERS All 8:15
9. LIAISON REPORTS Chair 8:20
10. NON-AGENDA ITEMS All 8:25
11. ADJOURN BUSINESS MEETING Chair 8:30
*EXECUTIVE SESSION:The Tigard City Center Advisory Commission may go into Executive Session to discuss real property
transaction negotiations under ORS 192.660(2) (e).All discussions are confidential and those present may disclose nothing from the
Session.Representatives of the news media are allowed to attend Executive Sessions,as provided by ORS 192.660(4),but must not
disclose any information discussed.No Executive Session may be held for the purpose of taking any final action or making any final
decision.Executive Sessions are closed to the public.
Upcoming meetings of note:
Tuesday,December 15,7:30 p.m.,City Council,MS Teams (TCAC Appointments,Initiate public review of Substantial
Amendment)
Wednesday,January 13,6:00 p.m.,Regular TCAC Meeting, MS Teams Potential early start time
The City of Tigard tries to make all reasonable modifications to ensure that people with disabilities have an equal opportunity
to participate equally in all city meetings.
Upon request, the city will do its best to arrange for the following services/equipment:
• Assistive listening devices.
• Qualified sign language interpreters.
• Qualified bilingual interpreters.
Because the city may need to hire outside service providers or arrange for specialized equipment,those requesting
services/equipment should do so as far in advance as possible,but no later than 3 city work days prior to the meeting.To
make a request, call 503-718-2481 voice or 503-684-2772 DD-Telecommunications Devices for the Deaf).
TOWN CENTER ADVISORY COMMISSION AGENDA— December 9, 2020
City of Tigard 1 13125 SW Hall Blvd.,Tigard,OR 97223 1 503-639-4171 1 www.tigard-or.gov I Page 1 oft
CITY OF TIGARD
TOWN CENTER ADVISORY COMMISSION
Meeting Minutes
November 11, 2020
Members Present: Chris Haedinger, Scott Hancock, Renette Hier, Hemendra Mathur,Tom
Murphy (Vice Chair),Tim Myshak, Kate Rogers (Chair), Ryan Ruggiero, Elise Shearer, and Justin
Watson (Ex Officio).
Members Absent:Angeline Chong, Katlyn Prentice (Alternate), and Faez Soud.
Staff Present: Redevelopment Project Manager Sean Farrelly.
Others Present: TCAC Council Liaison John Goodhouse, and Elaine Howard (Elaine Howard
Consulting, LLC).
1. CALL TO ORDER
Chair Rogers called the meeting to order at 6:30 pm. The meeting was held remotely using MS
Teams with a call-in number provided for the public.
2. CONSIDER MINUTES
The October 14, 2020 TCAC Minutes were unanimously approved.
3. FOLLOW UP FROM PREVIOUS MEETINGS
Four businesses are contributing to decorate thirteen trees along Main St. Chris will forward the
flyers for, "Light the Night". The City will pay the cost of electricity.
4. CITY CENTER PLAN SUBSTANTIAL AMENDMENT
Meetings are scheduled with the TVF&R Board,TTSD Board, and the Washington County Board
of Commissioners to see if they will agree to the maximum substantial amendment. If not, the
amount to go before voters will be 20% of the original indebtedness. With inflation that is about
$6.6 million. Sean shared the draft numbers for potential TIF expenditures estimated to be $17
million in addition to the remaining$7 million. A public engagement plan is under development.
Commissioners unanimously agreed to let Tom and Kate write a letter of TCAC support for
approval of the maximum substantial amendment by the taxing jurisdictions. Tom and Kate will
email it to Commissioners. Elaine and Sean will provide an update at the December meeting.
5. DEVELOPMENT ASSISTANCE CRITERIA
Sean reviewed the recommendations FROM Leland Consulting Group for Development Assistance
Criteria included with the agenda. They Include Both Predevelopment Services Grants and
Development Assistance Grants. He also reviewed the evaluation sheet to score requested
development assistance grants. There will be a few minor adjustments,but Commissioners noted
their approval for the direction taken so far.
6. REDEVELOPMENT ACTION PLAN
Sean briefly reviewed the Redevelopment Action Plan included in the Agenda packet. It will guide
future TCAC work.
Page 1 of 2
TOWN CENTER ADVISORY COMMISSION
November 11, 2020
7. DOWNTOWN VISION
Commissioners unanimously approved the revised Downtown Vision statement included with the
Agenda packet.
8. TCAC ANNUAL REPORT
Kate briefly reviewed the past year and recommendations for TCDA. Commissioners unanimously
approved the TCAC Annual Report with a few edits. Kate and Tom will make them and circulate
via email.
9. PROJECT UPDATES
Sean noted Council approved a fourth amendment for AVA last night to allow time for deed and lot
line adjustments with Washington County. Council also approved the DDA and lease. The
Universal Plaza fence is coming down and twinkle trees will be added for the holiday season. Sean
will email details.
10. SW CORRIDOR-ELECTION RESULTS
The environmental impact statements will be completed. If an infrastructure bill is passed by
Congress, there is a chance the project could proceed. Other funding sources will be considered.
11. LIAISON REPORTS
A. There is a virtual SWC meeting on November 12 starting at 5:30 p.m.
B. Red Rock Creek Commons grand opening will take place online next month.Justin will
share details when they are available.
12. NON-AGENDA ITEMS
A. TCAC recruitment interviews will take place next week.
B. Flowers were sent to the spouse of Teri Karren-Keith from city staff and Commissioners.
Kate will say a few words about her at an upcoming Council meeting.
13. ADJOURN BUSINESS MEETING
The meeting adjourned at 8:30 pm.
Joe Patton,TCAC Meeting Secretary
Kate Rogers, Chair
Page 2of2
Town Center Development Agency
The City of Tigard's Urban Renewal Agency
TCDA M E M D R A N D U M
TO: Town Center Advisory Commission
FROM: Sean Farrelly, Redevelopment Project Manager
RE: Agenda Item 6: Consider Recommendation of City Center Urban Renewal Plan
Substantial Amendment
DATE: December 3, 2020
The Town Center Advisory Commission is requested to recommend approval of the Substantial
Amendment to the Town Center Development Agency Board at its December 9 meeting.
The city completed the City Center Futures project in 2020. As part of that project, three alternatives
were considered for expanding the City Center Urban Renewal (TIF) District. The recommended
option was to pursue a substantial amendment to the City Center Urban Renewal Plan to increase the
maximum indebtedness (MI) with the existing boundaries. The TCAC was briefed and the TCDA
Board agreed with the recommendation and directed staff to prepare a substantial amendment to the
plan for consideration on the May 2021 ballot.
There are two documents in the TCAC packet to review in this substantial amendment, the draft
Tigard City Center Urban Renewal Area Plan Amendment ("Plan Amendment") and the Report
Accompanying the Tigard City Center Urban Renewal Plan Amendment ("Report"). The Plan
Amendment shows the verbiage changes to the existing urban renewal plan while the Report gives
technical information on blight conditions and the financial feasibility of the MI increase.
The proposed increase of MI of$20,800,000 will bring the total MI to $42,800,000. It would also
amend the duration provision of the Plan to extend the last day to issue debt provision of the Plan
from the twentieth anniversary of the Plan to the twenty-ninth anniversary of the
Plan. Tax increment revenues after this date (29 years from anniversary date) will only be
spent on retiring debt.
This level of MI increase may not be approved by the City of Tigard alone, it must also be approved
through adoption of a resolution by the Board of 75% of the taxing districts that levy permanent rate
taxes in the Area. Staff has been briefing staff of the Tigard-Tualatin School District, Washington
County, and Tualatin Valley Fire & Rescue (TVF&R) on the amendment and the city's request that the
districts adopt resolutions approving the MI increase. Board meetings of these taxing districts have
been scheduled to allow for a full briefing on the proposed MI increase.
Revenue sharing is part of the 2009 legislative changes to urban renewal and would apply here if the
substantial amendment to increase maximum indebtedness is approved. Revenue sharing targets are
projected to be reached in the City Center TIF district in FYE 2036 if the amendment is approved. If
1
assessed value in the Area grows more quickly than projected, the revenue sharing triggers could be
reached earlier. This is more fully described in the attached Report.
The increase in MI will allow the Town Center Development Agency (ICDA) to increase funding
allocations to the following project categories: Public Spaces; Street Improvements; Streetscape;
Pedestrian and Bicycle Facilities; Public Facilities (parking garage); Parks;Affordable Housing
Development Assistance; Planning and Development Assistance;Acquisition; and Administration
and Financing fees as noted in Table 11 of the Report. Other than Affordable Housing, all of these
project categories are in the original Plan. The amendment includes additional funding, new specific
projects, and updated project descriptions.
The purpose of urban renewal is to improve specific areas of the city that are poorly developed or
underdeveloped and meet the ORS 457 definition for blight. Under the statute, downtown Tigard
meets the definition due to its many underdeveloped lots and lack of a mix of high quality commercial,
office, residential and public uses in the area and infrastructure needs in the Area.
Pursuant to ORS 457, the city's Urban Renewal Agency (the TCDA) shall initiate the public review
process for all proposed urban renewal plans and substantial Plan Amendments. Initiation of the public
review processes for the attached draft Plan Amendment and accompanying report require the
following actions:
• The Board of the TCDA will initiate the public review process at their December 15
meeting.
• Staff will forward a copy of the draft Plan Amendment and report to all overlapping
taxing districts and formally solicit comments on December 16.
• Staff will brief the Board of Washington County Board of Commissioners on the draft
Plan Amendment and report on January 12 with consideration of a resolution on January
26.
• Staff will brief the Board of TVF&R on December 15 with consideration of a resolution
on January 26, 2021.
• Staff will brief the Board of Tigard-Tualatin School District on December 14 with
potential consideration of a resolution on this date or its January meeting.
• Planning Commission will hold a hearing on January 4 for its review of the draft Plan
Amendment's conformance to the Tigard Comprehensive Plan.
• City Council will hold a hearing on February 9, 2021 for the purpose of
considering adoption of the draft Plan Amendment and report.
• Staff will send out a notice advertising this hearing to all Tigard registered
voters pursuant to ORS 457.
• City Council will forward the adopted plan and report to the voters for
consideration at the May 2021 election. Section XII.A.1 of the City Center
Urban Renewal Plan requires voter approval of Substantial Amendments
increasing the maximum amount of indebtedness.
The draft Plan Amendment and report may change between now and the City Council hearing
in February depending on input by the various bodies reviewing the documents.
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DRAFT
Proposed new text is shown in double-underline-
Deleted text is shown in .
Explanatory language shown in italics.
TIGARD CITY CENTER URBAN RENEWAL PLAN AMENDMENT
Only the proposed changes are shown, current plan can be viewed at: https://www.tigard-
or.gov/urban renewal/
I. Introduction
The Original Plan 4a-s had a duration of 20 years (see Chapter XI), meaning that no
new debt wi4 would be incurred after Fiscal Year 2025/2026. The maximwn amount
may be issued f8F the Plan is Twenty Two Million DellaFs and NE) Cents ($22,000,000).
The first substantial amendment was developed in 2016 and went to voters in the
May 2017 election. It amended the boundary and updated the plan as needed. The
second substantial amendment was developed in 2020 and went to the voters in the
May 2021 election. It added projects, increased the maximum indebtedness. and
updated the plan as needed. The maximum amount of indebtedness (amount of tax
increment financing for projects and programs) that may be issued for the Plan is
Forty-Two Million Eight Hundred Thousand dollars and no cents ($42.800.000). No
new debt will be incurred after Fiscal Year 2034/2035.
II. Goals and Objectives
Goal 3— Downtown's transportation system should be multi-modal, connecting
people places and activities safely and conveniently.
Objectives:
313: Concurrent with proposed street improvements, and in conformance with the
Tigard Transportation System Plan (TSP), provide public and private parking facilities,
bike lanes, sidewalks, pedestrian crossings and other pedestrian, and bicycle
facilities that promote multimodal usage, access and safety.
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DRAFT
Goal 5 - Promote high quality development of retail, office and residential uses that
support and are supported by public streetscape, transportation, recreation and
open space investments.
Objectives:
5A: Provide development incentives and technical assistance programs that
encourage business and property owners to develop projects that are consistent
with the Tigard Downtown Improvement Plan vision, the 2019 Affordable Housing
Plan, the City of Tigard Strategic Plan 2020-2025, and the Tigard Comprehensive
Plan.
5C: Provide for property acquisition to support tNs goal.
III. Outline of projects
The Plan identifies transportation projects, including street improvements, streetscape
improvements and bicycle/pedestrian facilities improvements,which will increase
multimodal connectivity throughout the Area and make downtown Tigard a safer and more
accessible destination.The Plan also includes Parks, Public Spaces and Public Facilities
projects that will beautify the Area, increase neighborhood livability and provide
opportunities for residents,visitors and downtown workers to participate in a wide range of
community and recreational activities.
Planning and Development Assistance Programs identified in the Plan will facilitate the
development, redevelopment and rehabilitation of private property in the Area.The
programs will encourage Area business and property owners to invest in projects that will
increase the economic vitality of downtown Tigard, add affordable housing units to the Area
and support the goals and objectives of the Tigard Downtown Plan and the City's
Comprehensive Plan.
IV. Map and Legal Description of Urban Renewal Area
No changes to this section
V. Urban Renewal Projects
Urban renewal projects authorized under the Plan, which may be undertaken by the
Agency, are described below. and hewn in Figures 2+ To preserve and enhance
the Area's natural resources, projects will be designed and implemented with
consideration for ecologically sensitive areas and to minimize the impacts of
development on the environment. Property acquisition may be required for these
projects. Further, some of the projects described herein will require participation of
other public agencies.
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DRAFT
Figure 2 is replaced and Figures 5.6 and 7 are removed from the Plan.
A. Street Improvements
7. Construction of New Streets
Construction of new streets to provide connectivity within the Area, as identified by
hash marks on Figure 2.
Figure 2 a
Downtown Connectivity Plan r
Potential Future Streets Map M �Lg r,
Nr a �o e
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Al
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1
Downtown Street Character Types"
-Upper Hall Boulevard"
-Main Street Green Street
-Downtown Mixed Use 1 (Collector)
-Downtown Mixed Use2 (Neighborhood)
-Downtown Mixed Use 3 (Upper Burnham)
-Downtown Mixed Use (Lower Burnham)
Urban Residential
Alley:Business 0 250 500 1,000 Feet
i I I I I I I I i
Des h ed line s in dicate p ropo s ed s tre ets
Other Streets -- Hall Boulevard s cuffendy an COOT facility. OOOT's
design standards may supefs�e these standards as long l
« Railroads as it son OOOT facility. N
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DRAFT
B. Streetscape Improvements—
No changes to this section.
C. Bike/Pedestrian Facilities -
10.Tigard Heritage Trail (Main Street to Hall Boulevard
►
This project will increase pedestrian access and provide new recreational
opportunities for residents, workers and visitors to downtown. The project will
build a new path connecting Main Street to the existing multi-use trail that
connects the Commuter Rail parking lot to Hall Boulevard, and include
historical/educational installations and other amenities.
11. Fanno Creek Trail Improvements
Improvements to the Fanno Creek Trail within the Area will include new trail
connections, lighting, accessibility improvements, boardwalks and wayfindjng.
D. Parks - delete Figure 5
E. Public Spaces - delete Figure 6
2. Plazas
The design and construction of public plazas that will serve as public gathering
spaces is a project under the Plan. This project will encourage a broader range of
active and passive recreational uses in downtown and attract more residents and
visitors to the area. The Universal Plaza project will provide a large public space
that includes a water feature, covered area, connection to Fanno Creek Trail,
restrooms, and other amenities.
F. Public Facilities - delete Figure 7
2. Public Parking Facilities
The design and construction of new public parking facilities is a project under the
Plan. As new shopping, recreational and entertainment uses, including the
proposed performing arts center and public market, are established in the
downtown area, new public parking facilities will be needed to accommodate the
anticipated increase in parking demand. This project includes structured parking
that would jointly serve employment uses as well as visitors and customers to the
downtown.
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DRAFT
G. Planning and Development Assistance
5.Affordable Housing Development Assistance
Grants and technical assistance to encourage new regulated affordable housin&
and preservation of naturally occurring affordable housing.
VI. Relationship to Local Objectives
A. City of Tigard Community Development Code
The City of Tigard Community Development Code establishes zoning districts, which govern
allowed uses and contain development standards. The Area encompasses property within
the City's commercial„parks and recreation and industrial zoning districts.
According to the City's Development Code, the purpose of commercial zoning
districts is PFOVide a eGrrrpFerhe,.-i�ye-Fange-of eernmeieial seFViees including
re-tairand roffice�-uses that-aTe E6Tr`PenTencrycrEEeSsibre to rr^vcrnnrs,�Fbicyclists-and
Fesidential neighberheeds. FuFtheF, On cempliance with the City of Tigard
CE)FAPFehensive Plan, the eemmeFeia! zening districts are intended to PFE)Vide a wide
implement the goals and policies of the comprehensive plan related to land use
planning and economic development by:
A. Ensuring that a full range of goods and services are available throughout the
city so that residents can fulfill all or most of their needs within easy driving
distance and, ideally, within easy walking and biking distance of their homes;
B. Ensuring that a full range of economic activities and job opportunities are
available throughout the city; and
C. Minimizing the potential adverse impacts of commercial uses on residential
uses by carefully locating and selecting the types of uses allowed in each
commercial zone.
The purpose of Tigard's industrial zoning districts is to provide a broad range ^f
industrial serviees and jobs within the City ef Tigard that are conveniently aceessible
to local res;dents implement the goals and policies of the comprehensive plan
related to land use planning and economic development by-
A. Ensuring that a full range of economic activities and job opportunities are
available throughout the city; and
B. Minimizing the potential adverse impacts of industrial uses of industrial uses on
nonindustrial uses by carefully locating and selecting the types of uses allowed in
each industrial zone.
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DRAFT
The purpose of Tigard's parks and recreation zoning district is to preserve and
enhance publicly-owned open space and natural and improved parkland within the
city. This zone is intended to serve many functions including:
A. Providing opportunities for both active and passive recreational facilities to
meet neijzhborhood, community, and regional needs:
B. Providing contrast to the built environment;
C. Providing opportunities to strengthen community identity, improve public
health, and foster interactions between citizens;
D. Providing economic development by creating a desirable public image and
robust quality of life:
E. Recognizing that publicly-owned parks have a special relationship to the
community and are an important resource:
F. Providing flexibility in the use and development of recreational facilities as the
city responds to changes in demographics, program needs, and external regulatory
requirements; and
G. Allowing for the efficient implementation of plans and improvements to parks,
recreational facilities, and open areas with appropriate reviews where
compatibility issues may arise.
A detailed description of commercial, parks and recreation and industrial zoning
districts within the Area and corresponding development standards are described in
Section VII below.
The Plan implements the public investments necessary to generate development
that is consistent with Mixed-Use Central Business District, General Commercial
District, Parks and Recreation District and Industrial Park District. and Pref ^^^'
CommeKial Districts as well as the R 4.5 Low Density Residential DiStFiet, R 12
nn.,.Jium Density Residential District and o 75 Medium High Density District. Further, the
Plan will help ensure that the Area develops efficiently,with high quality, attractive
development that creates an identity and sense of place unique to downtown Tigard.
B.Tigard Comprehensive Plan Goals and Policies
No changes to this section
C.Transportation System Plan Goals and Policies
TRANSPORTATION SYSTEM PLAN —only additions are shown, all other findings
remain the some. Where some of the goal and policy language is already existing, it
is not shown in double underline, new goal and policy information is shown in double
underline.
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DRAFT
Goal 2: Transportation Efficiency—Develop and maintain a transportation system
for the efficient movement of people and goods.
Policy 9: The city shall require the provision of appropriate parking in balance with
other transportation modes.
The Plan includes streetscape improvements and bicycle/pedestrian system
improvements designed to encourage alternative modes of transportation to the
automobile. By filling gaps in the existing sidewalk system, installing new bike lanes
and upgrading existing bikeways to standard, the Plan will help create a complete
system of bicycle and pedestrian facilities that enables pedestrians and bicyclists to
commute safely and efficiently to and within downtown.
The Plan includes street improvements that will address motor vehicle needs in and
around downtown Tigard. Projects such as the Scoffins Street/Hall
Boulevard/Hunziker Realignment and Highway 99W intersection improvements will
reduce congestion and improve circulation while creating a safer environment for
drivers, pedestrians and bicyclists. The Plan includes trail connections through the
Tigard Heritage Trail and Fanno Creek Trail projects and provides funding for the
construction of new streets providing connectivity in the Area. The Plan also
provides funding for a parking structure to serve employment uses as well as visitors
and customers to the Downtown.
D. City of Tigard Park System Master Plan
PARKS, RECREATION, TRAILS, AND OPEN SPACE
Goal 1:Provide a wide variety of high quality park and open spaces for all
residents, including both developed areas with facilities for active recreation and
undeveloped areas for nature oriented recreation and the protection and
enhancement of valuable natural resources within the parks and open space
systems.
Policy 1: Tigard shall acquire, develop and maintain a diverse system of parks, trails,
open space and recreational facilities that are safe, functional and accessible to all of
its population.
Goal 2: Create a Citywide network of interconnected on-and off-road pedestrian
and bicycle trails.
Policy 1: The City shall create and interconnected regional and local system of on-
and off-road trails and paths that link together neighborhoods, parks, open spaces,
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DRAFT
major urban activity centers and regional recreational opportunities utilizing both
public property and easements on private property.
The Plan includes multiple projects that support the City's park system vision and
recommendations. In particular, the Fanno Creek Park Improvements and Enhanced
Pedestrian Bridge, Urban Creek/Green Corridor and Urban Green Spaces projects
will upgrade and increase multimodal access to existing parks and open space areas
and create new green space and recreational areas that will draw residents,
shoppers and visitors to downtown Tigard. The Plan includes additional trail
connections through the Tigard Heritage Trail and Fanno Creek Trail projects and the
development of Universal Plaza, a central meeting place for residents and visitors to
T
E.Tigard Downtown Improvement Plan
No changes to this section
F. Affordable Housing Plan
In 2019 the City of Tigard adopted the Affordable Housing Plan —Tigard Housing
Strategy Implementation Plan. The purpose of the Tigard Housing Strategy
Implementation Plan (THSIP)is to identify strategies and implementation steps
needed to increase the supply and affordability of housing within the City of
Tigard. The outcome of the project will be recommendations for adoption of housing
strategies and policies, including amendments to municipal and development code,
to implement an Affordable Housing Plan. The THSIP identified tools to assist in the
development of affordable housing, one of which was tax increment funds.
The Plan includes a project category of Affordable Housing Development Assistance
to provide grants and technical assistance to help encourage the development of
affordable housing in the Area.
G. City of Tigard Strategic Plan 2020-2025
The City of Tigard Strategic Plan was adopted by City Council on September 22,
2020. The Vision of the Plan is
Equity—Just and fair inclusion into a society in which all can participate, lo- er,
and reach their full potential.
Walkability—A walkable environment supports and allows for a choice to
participate in active forms of transportation such as cycling and includes people
traveling with or without a mobility aid. A walkable community is foundational to an
equitable and sustainable community.
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DRAFT
Accessibility— Providing equivalent ease of use and opportunity for all people to
interact with our services, processes, and infrastructure.
Healthy—Supporting the community's physical, economic, and environmental well-
being which improves all aspects of health.
There are three strategic priorities that support the vision:
1. Set the standard for excellence in public service and customer experience
2. Create a well-connected, attractive, and accessible pedestrian network.
2.1 Create a well-connected pedestrian network that links all Tigard residents and
businesses.
2.1 C. Identify and pursue new funding sources to build the pedestrian network.
2.1 D. Bring parks and trailheads within a 10-mionute walk of every Tigard
resident.
2.1 E. Expand the pedestrian network annually.
2.2 Tigard's pedestrian network is attractive accessible, safe and well-maintained.
2.2 B. Design the trail system to serve both recreational and active
transportation purposes.
3. Ensure development and growth support the vision.
3.1 Pursue land development that maximizes public health benefits while
increasing connection between people and community destinations.
3.1 B. Locate and grow businesses to support walkability, connectivity, and
accessibility for all business locations.
3.1 C. Build mixed-use development that is inclusive of housing, shoppin&
employment, sery ices and integrates transportation options.
3.1 D. Fully implement the City's Complete Streets policy.
3.1.G. Invest in public spaces that equitable serve the city's diverse residents.
workers, and visitors.
3.2 Focus development-associated resources in parts of the citythat have the
capacity to serve, house, employ and attract the most people with the least
impact on Tigard's natural systems and the climate.
3.2.13. Facilitate Transit Oriented Development (TOD) that supports employment.
housing, and community services.
3.3 Understand the effects of development on vulnerable Tigard residents and
mitigate those impacts within projects and over time.
3.3.C. Support a balanced, diverse mix of business sectors and employment
opportunities.
3.3.D. Ensure transportation investments and improvements are providing
equitable benefits and impact to the entire population.
3.3.E. Advance equitable economic opportunjt.
3.4 Proactively intervene as necessary to meet the housing needs of all community
members.
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DRAFT
3A.A. Prioritize funds to support the creation and retention of affordable
housing in Downtown Tigard. the Tigard Triangle and Washington Square.
3A.D. Increase the housing mix in the city to meet the needs of smaller
households, including singles, young families, and older adults.
The Plan conforms to the City of Tigard Strategic Plan and implements many portions of
the Strategic Plan. The Plan helps implement the strategic priority to "Create a well-
connected and accessible pedestrian network" as projects provide funding for
increased trails, new streets providing connectivity in the Area. The Plan helps
implement the strategic priority "Ensure development and growth supports the vision"
as it includes the development of the Universal Plaza, a central gathering place for
Tigard residents. In addition, the Plan provides structured parking and assistance for
new mixed-use development including affordable housing development.
VII. Proposed Land Uses
This section is deleted in its entirety and replaced with new information.
Land uses within the Area are governed by the City of Tigard Development Code. The
Development Code establishes zoning districts that implement the Tigard Comprehensive
Plan.The districts govern the allowed uses and contain development standards.
GUFFently, and in the AFea is within the
(C G) PFefessi. Ral !'.,ffi ffieFeial (C D) D 4.5 Low Density Residential !D 4.B), D 12
Density Residential (R 12) -;;Ad- R ;-I-q �.Ap-d"unq High Density Residential (R 25) ZE)RiRg diStFiEtS.
The pwpese of the distFiets is.de5EFibed i., the fl.,.,.,1.....,- ent Code as fell.,,..,--
A Cpntr;+l Rw;wnecc Oictrict
City'S hiStGFiG dewntewn including a mix E)f eMe, retail and effiee uses. Single family attaehed ,
at a Fna)(umum density oil-22 lulnits,lnet aeFe, equivalent A-f the R 12 ZE)RORg diStFiet, and multi fa+Pfly
eutright. A wide range ef uses, including bbit REA lingited te adult enteFtainment, utilities,faeffilities with
dFive up windows, medical centers, n9ajer event entertainment and gaseline statiens, are permuttp-d-
edit „nalI y„
0 murnscape0 are
required. With exception of buildings within 100 feet E)f any residential zoning districts,
where a 40 foot height restriction applies, a maximum height of 80 feet is prescribed for
development On the CBD zone.
R rer+er•�I �'�rvrvorri•�I
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DRAFT
"Thp C, G, zening distFiet s designed te accemmodate a full range Of retail, effiee and- civic uses with a
City wade and even Fegien-al tr_ade -are-a. Exeept where AA_.A eenfe_rming, Fesidenti_;41 - ,;P,; ;;rp
single family residences vAieh -are le-c-ated- An the ;ame s*te as a permitted use. A wide range of uses,
;.q_AF,zhA;,zS, utilities, heloperts, medoeal centeFS, M@jeF event enteFtElinment, and gasoline stations, are
permitted conditiorially."
foot sade -A.Ad- Fear yard setbaeks are required v.4-are the ;-zA-Fie -a-h-AS -A Fe-sid-e-Fiti-al
0minimum 1 ndseape requirement of I0 And
/` Drefee�e�ien�I /'er„r�er�i-,I
c.
u
•r
a ity to residential reas and majE)F tFanspertatiolzi f_aeihties. Within the Tigard Triangle and P.,11
.,
V.1ith the excCeption ef property abutting a residential ZE)Rwng d*StF*et, where 20 fE)A-t SAH-e- -aind
0minimum landseape requirement of 157%
r
and maximum
height !*Fnw+..f/IC f.,.,+ required of all development up. the C D
n RA C 1 eui_IleRcity Residential Wgtrict
0
aEEeS5E)Fy residential units at a mir:iimurn let Size ef:7,500 square feet. Duplexes -;;Pd- -att-ae-hed Single
family units are permitted Seme civire and iinstitutional useess aree also permitted
c-AnlrlmtmAlnl;4Y_-'_'
The munumUrn 'At-_;w7_P_ in the R 4.5 zene ranges fFeM :7,500 square feet feF detaEhed heusing
units te
The average minimum let width is 50 feet fE)F detaChed- Unit
r for duplexes.
iets and 90 feet fE)F duple), •
ef 30 feet and moriffimum Setback-,; Aef 20 feet (frent yard), 5 feet(side yard) and 15 feet (rear
yard). A minimum distance ef 20 feet between a property line and the front ef a
alse required.The R 4.5 zone does not impose a minimum landscape requirement er let
coverage standard.
C Il
Q_97 h4eila'-M_ enci+v Residential Diir
ctrt
z.
a
The R 12 zoning district is designed to accemmedate a full range of housing types at a minimum lot sizeof r
050 square feet. A wide range of civic and institutional uses are also permitted conditionally."
11
DRAFT
Multiple family dwelling Units an the R 12 zone aFe subjeet te Fninimuffl. fre—pt-and FeaF yaFd
set-h-acks A-f 20- feet-and- -;; Sidle yaFd setbaek ef 1-0- feet. Single family dwelling units
aFe subjeEt tA- MiPamluffl freRt and rear yard setbacks A-f 14 fp-p-t m.i.pi.m.-H.M. side yaFd
setb-Aek A-f-q feet. PA-.r beth multiple f@Fn.ly and single family dwelling units, a M fA-A-t Ispet-h-Ace-k
building height ef 35 feet, let eeveF@ge ef 80% and- mimimum landseape
FequiFement.,f'ono% @Fe Ase s rified
C R-24 5 edium High-Density Desidentin Dietrint
a
single family and multi family heusing units at a minimi-im 'At Size ef 1,480 squarea feet. A. limited
A Manamurn let size ef 3,050 square feet peF unit feF detaehed single family dwelling units
and 6,100 sq----;;rp- feet A--r-3,050 square feet peF unit feF duplexes as FequiFed MR the R 25
zene. Multiple family dwelling units aFe subjeet te Fninifflu.m. fre.pt and rear yard Setb�aek-,; of
;!A fppt ;;iqpl inimum side yard setbacck Of IN flPePet. SiRgle family dwelhng units aFe subjeEt
feet. PA-.r heth multiple famdy and single famdy dwelling units, a 3Q- fA-A-t iS FeqUiFed
of 45 0 and mum andseape Fefflent Of 0
feet,
aFe
aIsm, eified
General/Commercial CG -The C-G zone is designed to accommodate a full range of retail,
office, and civic uses with a citywide and even regional trade area. Except where
nonconforming, residential uses are limited to mixed-use developments.A wide range of
uses, including but not limited to adult entertainment, automotive equipment repair and
storage, mini-warehouses, utilities, heliports, medical centers, major event entertainment
and gasoline stations, are allowed conditionally
Mixed Use Central Business District U-CBD-The MU-CBD zone is designed to provide a
pedestrian-friendly urban village in downtown Tigard.A wide variety of commercial, civic,
employment, mixed-use, apartments, and rowhouses are allowed.
Parks and Recreation Zone PR -The Parks and Recreation (PR) zone is applicable to all
city-owned lands intended as parks, open space, and recreational facilities and may be
applied within all comprehensive plan designations. City-owned parks, open space, and
recreational facilities located in a plan district may retain or receive other than a PR zone
designation if it better furthers the goals of the plan district. In addition, other public
agencies may request a PR zone designation for areas that meet the purpose of the zone.
Industrial Park I-P - The I-P zone provides appropriate locations for combining light
manufacturing, office, and small-scale commercial uses, such as restaurants, personal
12
DRAFT
services, and fitness centers, in a campus-like setting with no nuisance characteristics such as
noise, glare, odor, or vibration.
VIII. Property Acquisition and Disposition
TO Met property- tax lot numbers 2S102AA04800 and 2S102AA04801
IX. Relocation Methods
No changes to this section
X. Tax Increment Financing of Plan
The maximum amount of indebtedness that may be issued or incurred under the Plan,
based upon good faith estimates of the scope and costs of projects in the Plan and the
schedule for their completion is Twenty Twe "";'lien ^^"ars and- Ne Guents ($22 nnn nnn4
Forty-Two Million Eight Hundred Thousand dollars and No Cents ($42,800,000).This amount
is the principal of such indebtedness and does not include interest or indebtedness incurred
to refund or refinance existing indebtedness.
XI. Duration of Plan
No new indebtedness to be repaid with tax increment revenues may be incurred after the
twentieth -,.,.,*YeFsaF;,,twenty-ninth anniversary of the effective date of the Plan. As is
common practice in urban renewal plans in Oregon,tax increment revenues may continue
to be collected beyond this date. Collection may continue until it is found that deposits in
the Commission's debt service fund are sufficient to fully pay principal and interest on
indebtedness issued during the twenty years following the effective date of the Plan, either
through direct payment of the indebtedness or by payment of principal and interest on
bonds or notes issued to finance the indebtedness.Tax increment revenues collected after
the twentieth twenty-ninth anniversary of the Plan (FY 2034/20351may only be used to
retire outstanding debt.The Plan will be effective on the date that the County certifies the
results of the election at which the Tigard voters approve the measure that referred an
ordinance approving an urban renewal plan to the Tigard voters.
XII. Future Amendments to Plan
No changes to this section
13
DRAFT
Report Accompanying the Tigard City
Center Urban Renewal Plan
Substantial Amendment
Reviewed by the City of Tigard
February 9, 2021
Ordinance No.
To be sent to vote
May 17, 2021
Consultant Team
Elaine Howard Consulting, LLC
Elaine Howard
Scott Vanden Bos
Tiberius Solutions LLC
Nick Popenuk
Ali Danko
Rob Wyman
fl
TABLE OF CONTENTS
I. INTRODUCTION ...............................................................................................................4
II. EXISTING PHYSICAL, SOCIAL, AND ECONOMIC CONDITIONS AND IMPACTS ON
MUNICIPAL SERVICES............................................................................................................6
III. REASONS FOR SELECTION OF EACH URBAN RENEWAL AREA IN THE PLAN ...................16
IV. THE RELATIONSHIP BETWEEN URBAN RENEWAL PROJECTS AND THE EXISTING
CONDITIONS IN THE URBAN RENEWAL AREA......................................................................16
V. THE ESTIMATED TOTAL COST OF EACH PROJECT AND THE SOURCES OF MONEYS TO PAY
SUCHCOSTS........................................................................................................................19
VI. THE ANTICIPATED COMPLETION DATE FOR EACH PROJECT .........................................20
VII. THE ESTIMATED AMOUNT OF TAX INCREMENT REVENUES REQUIRED AND THE
ANTICIPATED YEAR IN WHICH INDEBTEDNESS WILL BE RETIRED .........................................24
VIII. FINANCIAL ANALYSIS OF THE PLAN............................................................................29
IX. IMPACT OF THE TAX INCREMENT FINANCING..............................................................33
X. COMPLIANCE WITH STATUTORY LIMITS ON ASSESSED VALUE AND SIZE OF URBAN
RENEWALAREA...................................................................................................................41
XI. RELOCATION REPORT ..................................................................................................41
Report on Tigard City Center Urban Renewal Plan Amendment
I. INTRODUCTION
The Report on the Tigard City Center Urban Renewal Plan Amendment (Report) contains
background information and project details that pertain to the Tigard City Center Urban
Renewal Plan (Plan) Amendment (Amendment). The Report is not a legal part of the Plan,
but is intended to provide public information and support the findings made by the City
Council as part of the approval of the Plan.
The Report provides the analysis required to meet the standards of ORS 457.087, including
financial feasibility. The format of the Report is based on this statute. The Report
documents not only the proposed projects in the Plan, but also documents the existing
conditions in the Tigard City Center Urban Renewal Area (Area).
The Report provides only guidance on how the Plan might be implemented. As the Tigard
City Center Development TCDA (TCDA) conducts its annual budget process each year, it has
the authority to make adjustments to the assumptions in this Report, particularly in regard
to forecast revenues and planned expenditures. The TCDA may allocate budgets differently,
adjust the timing of the projects, decide to incur debt at different timeframes than
projected in this Report, and make other changes, as allowed in the amendments section of
the Plan.
Report on Tigard City Center Urban Renewal Plan Amendment 4
Figure 1—Tigard City Center Urban Renewal Plan Area
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Source:2016 Amendment to the Tigard City Center Plan
Report on Tigard City Center Urban Renewal Plan Amendment 5
II. EXISTING PHYSICAL, SOCIAL, AND ECONOMIC CONDITIONS AND
IMPACTS ON MUNICIPAL SERVICES
This section of the Report describes existing conditions within the Tigard City Center Urban
Renewal Area and the Amendment Area and documents the occurrence of"blighted areas,"
as defined by ORS 457.010(1).
A. Physical Conditions
The analysis in this section uses data from Washington County Assessor's office from 2016,
when the amendment to increase acreage within the City Center Urban Renewal Area
boundary was completed. There are not significant changes between 2016 and 2020.
1. Land Use
The Tigard City Center Area is 228.96 acres, including 198 tax lots consisting of 185.60 acres
and 43.36 acres of right of way.
An analysis of property classification data for FYE 2016, from the Washington County
Department of Assessment and Taxation was used to determine the land use designation of
tax lots in the Area as amended. By acreage, commercial use accounts for the largest land
use within the area (51.51%). This is followed by exempt (28.11%) and multifamily
residential (11.73%). The total land uses of the Area, by acreage and parcel, are shown in
Table 1.
Table 1— Existing Land Use of Area
Land Use Total Total Percent
Tax lots Acres of Acres
Commercial 125 95.61 51.51%
Exempt 30 52.18 28.11%
Industrial 1 6.41 3.45%
Multi-family Residential 11 21.78 11.73%
Single Family Residential 18 5.45 2.94%
Vacant 13 4.17 2.25%
Total 198 185.60 100.00%
Source:Compiled by Tiberius Solutions LLC with data from the Washington County Department of Assessment and Taxation(FYE 2016)
Report on Tigard City Center Urban Renewal Plan Amendment 6
2. Zoning and Comprehensive Plan Designations
As illustrated in Table 2 and Figure 2—Area Zoning Designations Figure 2, the majority
(67.56%) of the Area by acreage is zoned as Mixed Use Central Business District.
Table 2— Existing Zoning Designations of Area
Total Total Percent
Zoning Tax lots Acres of Acres
Mixed Use Central Business District(MU CBD) 187 125.40 67.56%
MU CBD-Planned Development Overlay 1 15.1 8.14%
General Commercial 5 21.61 11.64%
Parks and Recreation 4 22.50 12.12%
Industrial Park 1 0.99 0.53%
Tota 1 198 185.60 100.00%
Source:Compiled by Tiberius Solutions LLC with data from the Washington County Department of Assessment and Taxation(FYE 2016)
and Metro RLIS 2016 Q1.
As illustrated in Table 3 and Figure 3, 67.47% of the acreage is designated as Mixed Use
Central Business District in the City of Tigard Comprehensive Plan.
Table 3— Existing Comprehensive Plan Designations of Area
Comprehensive Plan Designation Total Total Percent
Tax lots Acres of Acres
Mixed Use Central Business District 180 125.22 67.47%
General Commercial 5 21.61 11.64%
Open Space 12 37.78 20.36%
Light Industrial 1 0.99 0.53%
Tota 1 198 185.60 100.00%
Source:Compiled by Tiberius Solutions LLC with data from the Washington County Department of Assessment and Taxation(FYE 2016)
and Metro RLIS 2016 Q1.
Report on Tigard City Center Urban Renewal Plan Amendment 7
Figure 2—Area Zoning Designations
Tigard City Center Urban Renewal Area
Zoning Designations
■
Zoning #to
+++■ *o
.'♦+R�.+ +
I I I I Mixed Use CBD- ■
Planned Development ■■
M
Mixed Use CBD
General Commercial
Industrial Park
Parks and Recreation
■■■+
■ ■ City Center URA 7 ^
0 500 1,000 1,500 feet
Source:2016 Amendment to the Tigard City Center Plan
Report on Tigard City Center Urban Renewal Plan Amendment 8
Figure 3—Area Comprehensive Plan Designations
Tigard City Center Urban Renewal Area
Comprehensive Plan Designations
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Open Space
■ ■ City Center URA
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0 500 1,000 1,500 feet
Source:2016 Amendment to the Tigard City Center Plan
Report on Tigard City Center Urban Renewal Plan Amendment 9
B. Infrastructure
This section identifies the existing conditions in the Area to assist in establishing blight.
There are projects listed in City of Tigard Capital Improvement Plan (CIP) and Tigard
Transportation Systems Plan that identify these existing conditions. This does not mean all
of these projects are included in the urban renewal plan. The specific projects to be
included in the urban renewal plan are not changed by this Amendment. They are listed in
Table 11.
1. Transportation
The CIP identifies transportation needs within the Area.
Streets and Intersections
There are significant transportation needs within the Area:
Table 4—Transportation Needs in the Area
Name Description Time Frame Cost Estimate
Ash Ave railroad Extend Ash Avenue across the railroad
crossing (Burnham tracks from Burnham to Commercial Near-term $3,000,000
to Commercial Street
Hall Boulevard
widening, Pacific Widen to up to 4/5 lanes, depending on 1
Highway to Fanno corridor plan Near-term $2,500,000
Creek
New sidewalks, new asphaltic concrete
Main Street Green and the collection and treatment of
Street(Phase II) stormwater runoff using low impact Near-term $4,060,500
development approaches.
Source:City of Tigard Transportation Systems Plan
i As noted in Tigard staff review of this document,the TSP update will change the project description and
likely increase the cost.
Report on Tigard City Center Urban Renewal Plan Amendment 10
2. Water
The CIP identifies no water needs in the Area.
3. Stormwater
The CIP identifies one storm water project in the Area:
94045—Commercial Street Stormwater Facility
Project Need: Stormwater treatment for a large existing untreated area to meet regional
stormwater regulatory permit requirements, Healthy Streams Plan goals and provide
mitigation for Main Street and other future projects.
Project Description: Construct a stormwater facility, or facilities, to treat stormwater runoff
from up to 47 acres that discharge into Fanno Creek meeting outfall-retrofitting goals
identified in the regional Healthy Streams Plan. This will be coordinated with the Main
Street Green Street Phase 2 Project.
Total Project Cost: $376,000
4. Sewer
The CIP identifies one sanitary sewer project in the Area:
93059— Downtown Sanitary Sewer Line
Project Need: TV inspection shows rehabilitation is needed to protect sanitary sewer lines in
sections of Downtown Tigard. The sanitary sewer in this Area was constructed in the 1960s
and after years of monthly and quarterly cleaning, the pipe walls have become thin.
Project Description: The full project is both inside and outside the Area. It will rehabilitate
approximately 2,360 linear feet of sanitary sewer line in Pacific Highway from Hall
Boulevard to Main Street and in Main Street from Pacific Highway to Commercial Street. A
cured-in-place pipe (CIPP) trenchless method will be used to minimize traffic disruption.
Total Project Cost: $355,000
S. Parks and Open Space
The Parks and Open Space projects are:
Universal Plaza -The project will provide a large public space that can be a venue for
community events and will include a water feature, covered area, connection to Fanno
Creek trail, restrooms, interpretive art, and other amenities.
Total Project Cost: $4,010,000
Fanno Creek Overlook-The project will provide an overlook of Fanno Creek near Main
Street and a new connection to the Fanno Creek Trail.
Total Project Cost: $840,000
Report on Tigard City Center Urban Renewal Plan Amendment 11
C. Social Conditions
Data from the US Census Bureau is used to identify social conditions. The geographies used
by the Census Bureau to summarize data do not strictly conform to the boundary of the
Tigard City Center Urban Renewal Area. As such, the Census Bureau geographies that most
closely align with the Urban Renewal Area boundary are used. The Area is situated at the
intersection of seven different Census block groups, each of which extend a great distance
beyond the boundary of the Area, including significant residential populations that live
adjacent to, but outside of the Area.
Only three of the seven overlapping Census block groups include a significant amount of
residential land uses within the Area. Thus, the demographic analysis is limited to those
three block groups: block groups 1 and 2 in Census Tract 307 and block group 4 in Census
Tract 308.01. These block groups have a total residential population of 2,924 as depicted in
Tables 5 and 6. Again, the majority of this population lives in areas adjacent to but outside
of the Area.
The area has 27% Latinx residents. Eighty three percent of the residents identify as White
alone.
Table 5— Hispanic or Latino Origin by Race in the Area
Race Number Percent
Not Hispanic or Latino 2,147 73%
White alone 1,757 60%
Black or African American alone 29 1%
Asian alone 108 4%
Native Hawaiian and Other Pacific Islander alone 15 1%
Two or more races 238 8%
Hispanic or Latino 777 27%
White alone 668 23%
Asian alone 8 0%
Some other race alone 65 2%
Two or more races 36 1%
Total 2,924 100%
Source:US Census Bureau,Social Explorer,American Community Survey 2014-18 5-Year Estimates
Report on Tigard City Center Urban Renewal Plan Amendment 12
The largest age group in the area is 25 to 34 years, 18%, followed by 18 to 24 years at 15%.
Table 6—Age in the Area
Age Number Percent
Under 5 years 184 6%
5 to 9 years 76 3%
10 to 14 years 173 6%
15 to 17 years 134 5%
18 to 24 years 429 15%
25 to 34 years 515 18%
35 to 44 years 408 14%
45 to 54 years 323 11%
55 to 64 years 369 13%
65 to 74 years 143 5%
75 to 84 years 144 5%
85 years and over 26 1%
Total 2,924 100%
Source:US Census Bureau,Social Explorer,American Community Survey 2014-18 5-Year Estimates
Twelve percent of the adult population in the Area has not achieved a high school diploma.
Twenty-six percent of adult residents in the area have earned a bachelor's degree or higher,
another 26% have some college experience without a degree, and an additional 22% have
graduated from high school with no college experience.
Table 7— Educational Attainment in the Area
Education Number Percent
Less than high school 228 12%
High school graduate (includes equivalency) 428 22%
Some college 499 26%
Associate's degree 248 13%
Bachelor's degree 395 20%
Master's degree 125 6%
Professional school degree - 0%
Doctorate degree 5 0%
Total 1,928 100%
Source:US Census Bureau,Social Explorer,American Community Survey 2014-18 5-Year Estimates
Report on Tigard City Center Urban Renewal Plan Amendment 13
The majority of residents, 70%, travel less than 30 minutes to work, including those who
worked at home.
Table 8—Travel Time to Work in the Area
Travel Time Number Percent
Less than 10 minutes 301 21%
10 to 19 minutes 469 33%
20 to 29 minutes 222 16%
30 to 39 minutes 246 17%
40 to 59 minutes 87 6%
60 to 89 minutes 86 6%
90 or more minutes 8 1%
Total 1,419 100
Source:US Census Bureau,Social Explorer,American Community Survey 2014-18 S-Year Estimates
Report on Tigard City Center Urban Renewal Plan Amendment 14
The majority of residents, 66%, drove alone to work.
Table 9— Means of Transportation to Work in the Area
Transportation Number Percent
Drove alone 978 66%
Carpooled 108 7%
Public transportation (includes taxicab) 144 10%
Motorcycle - 0%
Bicycle 82 6%
Walked 107 7%
Other means - 0%
Worked at home 60 4%
Total 1,479 100%
Source:US Census Bureau,Social Explorer,American Community Survey 2014-18 5-Year Estimates
D. Economic Conditions
1. Taxable Value of Property within the Area
The estimated total assessed value of the Area calculated with data from the Washington
County Department of Assessment and Taxation for FYE 2020, including all real, personal,
manufactured, and utility properties, is $168,286,420.
2. Building to Land Value Ratio
An analysis of property values can be used to evaluate the economic condition of real estate
investments in a given area. The relationship of a property's improvement value (the value
of buildings and other improvements to the property) to its land value is generally an
accurate indicator of the condition of real estate investments. This relationship is referred
to as the "Improvement to Land Value Ratio," or "LL." The values used are real market
values. In urban renewal areas, the I:L is often used to measure the intensity of
development or the extent to which an area has achieved its short- and long-term
development objectives.
Table 10 below shows the improvement to land ratios for properties within the Area. The
majority of tax lots in the area that are not exempt (41.66% of the total acreage) have I:L
ratios of less than 1.0. In other words, the improvements on these properties are worth less
than the land they sit on. We identify a target I:L ratio of 2.0 for properties in this Area. Only
31 tax lots in the area, including 16.61% of the acreage have I:L ratios of 2.0 or more in HE
2016. The Area as a whole, is underdeveloped and not contributing its full potential to the
tax base in Tigard.
Report on Tigard City Center Urban Renewal Plan Amendment 15
Table 10— 11 Ratio of Parcels in the Area
Tax lots Acres Percent of Acres
Exempt 30 52.18 28.11%
No Improvement Value 14 8.11 4.37%
.01-.50 43 31.47 16.96%
.51-.1.0 31 37.73 20.33%
1.01-1.5 25 17.77 9.57%
1.51-2.0 22 7.51 4.05%
2.01-2.5 3 2.03 1.09%
2.51-3.0 9 4.32 2.33%
3.01-4.0 13 8.26 4.45%
>4.0 8 16.22 8.74%
Tota 1 198 185.6 100.00%
Calculated by Tiberius Solutions LLC with source data from Washington County Office of Assessment and Taxation(FYE 2016).
E. Impact on Municipal Services
The fiscal impact of tax increment financing on taxing districts that levy taxes within the
Area (affected taxing districts) is described in Section IX Impact of Tax Increment Financing
of this Report. This subsection discusses the fiscal impacts resulting from potential increases
in demand for municipal services. The properties within the Area are all within the city
limits and future development and demand for services is anticipated in the Area.
III. REASONS FOR SELECTION OF EACH URBAN RENEWAL AREA IN THE
PLAN
The reason for selecting the Area has not changed from prior Reports; it is to enhance the
ability to fund improvements necessary to cure blight within the Area.
IV. THE RELATIONSHIP BETWEEN URBAN RENEWAL PROJECTS AND THE
EXISTING CONDITIONS IN THE URBAN RENEWAL AREA
The projects identified for additional funding are largely already identified in the verbiage of
the Plan, but additional funding has been allocated. Following the categories in the Plan,
they are shown below.
1. Construction of New Streets
Construction of new streets to provide connectivity within the Area as identified by dashed
lines on Figure4.
Report on Tigard City Center Urban Renewal Plan Amendment 16
Existing Conditions: The streets shown with dotted lines do not currently exist. Most block
sizes in the Area are very large, which limits the amount of street frontage and limits
connectivity for all modes of transportation particularly for pedestrians.
Figure 4— Potential Future Streets in Area
W
Downtown Connectivity Plant2
Potential Future Streets Map c
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Downtown Street Character Types"
Upper Hall Boulevard"
Main Street Green Street
Downtown Mixed Use 1 (Collector)
Downtown Mixed Use 2(Neighborhood)
Downtown Mixed Use 3(Upper Burnham)
Downtown Mixed Use 4(Lower Burnham)
Urban Residential
Alley:Business 0 250 500 1,000 Feet
f f f l f f f l
❑ashedlines indicate proposed streets
Other Streets Hall eaulevard s currently an OOOT facility. OOOT's
design standards may supers�e these standards as long
« Railroads as it is an OOOT facility. N
Source:City of Tigard
Report on Tigard City Center Urban Renewal Plan Amendment 17
2. Tigard Heritage Trail (Main Street to Hall Boulevard)
This project will increase pedestrian access and provide new recreational opportunities for
residents, workers, and visitors to downtown. The project will build a new path connecting
Main Street to the existing multi-use trail that connects the Commuter Rail parking lot to
Hall Boulevard, and include, historical/educational installations and other amenities.
Existing Conditions: The Main Street to Tiedeman Avenue section of the Tigard Heritage
Trail has been completed. Currently pedestrians who wish to continue on from Main Street
to the multi-use path that connects to Hall Boulevard must walk through the Commuter Rail
parking lot, most of which has no pedestrian path.
3. Fanno Creek Trail Improvements
Improvements to the Fanno Creek Trail within the Area will include new trail connections,
lighting, accessibility improvements, boardwalks, and wayfinding.
Existing Conditions: The segment through the district is substandard. A new connection to
the Universal plaza will be constructed. The deficiencies are:
• Not designed or built to current local, regional, or state trail standard and generally
too narrow to support the usage it sees today
• Degraded asphalt surface (potential accessibility issues), with tree root heaving in
some locations
• Seasonal flooding
• Lack of any lighting
4. Plazas: Universal Plaza
The Universal Plaza project will provide a large public space that includes a water feature,
covered area, connection to Fanno Creek trail, restrooms, and other amenities.
Existing Conditions: This mostly vacant property owned by the TCDA is being used as a
temporary public space. Conceptual plans for the new plaza have been completed.
5. Public Facilities: Parking Facility
This project includes structured parking that would jointly serve employment uses as well as
visitors and customers to the downtown.
Existing Conditions: There is no structured parking in the Area. As uses intensify and as
Universal Plaza is developed, additional traffic is anticipated in the Area. This structured
parking would address that need.
6. Planning and Development Assistance: Affordable Housing Development Assistance
Grants and technical assistance to encourage new regulated affordable housing and
preservation of existing market affordable housing.
Report on Tigard City Center Urban Renewal Plan Amendment 18
Existing Conditions: The existing Plan allows for development assistance but does not
specifically call out affordable housing. The need for the creation of affordable housing has
been more widely recognized as an important component of the health of the city. The City
of Tigard Affordable Housing Plan identified needs and strategies to address those needs.
One of the tools to address the shortage of affordable housing is tax increment funds
provided through urban renewal areas.
V. THE ESTIMATED TOTAL COST OF EACH PROJECT AND THE SOURCES OF
MONEYS TO PAY SUCH COSTS
The estimated allocation of funds to specific projects shown in this Report are the best
estimates of future expenditures at the time of preparation of the Amendment. The TCDA
will be able to review and update the allocations on an annual basis when they prepare the
annual budget. Nominal dollars are year of expenditure dollars inclusive of inflation, which
is assumed to be 3.0% per year.
Table 11— Projects to be Completed Using Urban Renewal Area Funds
Projects (nominal $) (constant 2020 $)
Public Spaces $ (7,461,020) $ (6,570,000)
Street Improvements $ (3,883,900) $ (3,100,000)
Streetscape $ (1,087,820) $ (725,000)
Ped/Bike Facilities $ (1,999,605) $ (1,350,000)
Public Facilities $ (6,556,200) $ (6,000,000)
Parks $ (1,739,490) $ (1,150,000)
Affordable Housing Dev Assistance $ (2,880,720) $ (1,950,000)
Planning and Dev. Assistance $ (1,852,693) $ (1,480,000)
Property Acquisition $ (5,649,780) $ (3,900,000)
Administration $ (3,018,666) $ (2,120,642)
Financing Fees $ (500,000) $ (380,103)
Total Expenditures $ (36,629,894) $ (28,725,745)
Source:Compiled by Tiberius Solutions LLC with input from City of Tigard.
Report on Tigard City Center Urban Renewal Plan Amendment 19
VI. THE ANTICIPATED COMPLETION DATE FOR EACH PROJECT
The projects will be ongoing and will be completed as directed by the TCDA.
The Area is anticipated to complete all projects on or before FYE 2039 and have sufficient
tax increment finance revenue to terminate the district in FYE 2049. Changes in market
conditions could affect the assumed development schedule. However, the last day to incur
debt, June 30, 2035, is to be set in the Plan and is part of the voter approval.
Anticipated project completion dates are shown in Table 12. The TCDA may change the
completion dates in their annual budgeting process or as project decisions are made in
administering the urban renewal plan.
Report on Tigard City Center Urban Renewal Plan Amendment 20
Table 12- Projects and Costs in Year of Expenditure Dollars
Resources Total HE 2021 HE 2022 HE 2023 HE 2024 HE 2025 HE 2026 HE 2027 HE 2028 HE 2029
Beginning Balance 4,132,306 2,264,962 805,820 927,127 97,374 209,608 410,469 158,157 128,336
Interest Earnings 77,827 20,662 11,325 4,029 4,636 487 1,048 2,052 791 642
Transfer from Debt Service Fund 7,419,761 1,339,894 319,197 393,334 132,781 211,523 304,642 157,941 269,580 388,720
Bond/Loan Proceeds 25,000,000 - - - 5,800,000 - - 4,200,000 - -
Total Resources 32,497,588 5,492,862 2,595,484 1,203,183 6,864,544 309,385 515,298 4,770,462 428,527 517,699
Expenditures(YOE$)
Public Spaces (7,461,020) (1,591,000) (1,111,370) - - - (4,418,170) - -
Street Improvements (3,883,900) (1,100,000) (515,000)
Streetscape (1,087,820) (125,000)
Ped/Bike Facilities (1,999,605) (184,485)
Public Facilities (6,556,200) (6,556,200)
Parks (1,739,490)
Affordable Housing Dev Assistance (2,880,720)
Planning and Dev.Assistance (1,852,693) (330,000) (77,250) (185,658) (95,010)
Property Acquisition (5,649,780)
Administration (3,018,666) (81,900) (86,044) (90,398) (94,970) (99,777) (104,829) (110,135) (115,706) (121,561)
Financing Fees (500,000) (116,000) - (84,000)
Total Expenditures (36,629,894) (3,227,900) (1,789,664) (276,056) (6,767,170) (99,777) (104,829) (4,612,305) (300,191) (216,571)
Ending Balance 2,264,962 805,820 927,127 97,374 209,608 410,469 158,157 128,336 301,128
Ending Balance/Inflation Index 2,264,962 782,350 873,906 89,114 186,235 354,066 132,448 104,347 237,707
Source:Tiberius Solutions LLC with input from City of Tigard.
Report on Tigard City Center Urban Renewal Plan Amendment 21
Table 12- Projects and Costs in Year of Expenditure Dollars, page 2
Resources HE 2030 HE 2031 HE 2032 HE 2033 HE 2034 HE 2035 HE 2036 HE 2037 HE 2038 HE 2039
Beginning Balance 301,128 205,019 520,471 382,117 235,942 397,155 589,986 872,134 225,222 159,402
Interest Earnings 1,506 1,025 2,602 1,911 1,180 1,986 2,950 4,361 1,126 797
Transfer from Debt Service Fund 320,176 448,596 - - 315,615 469,810 450,932 491,965 535,797 581,601
Bond/Loan Proceeds 2,500,000 - - - - 12,500,000 - - - -
Total Resources 3,122,810 654,640 523,073 384,028 552,737 13,368,951 1,043,867 1,368,460 762,145 741,800
Expenditures(YOE$)
Public Spaces - - - - - - - - - (340,480)
Street Improvements (2,268,900)
Streetscape (962,820)
Ped/Bike Facilities (1,815,120)
Public Facilities
Parks (1,739,490)
Affordable Housing Dev Assistance (652,400) (1,815,120) (413,200)
Planning and Dev.Assistance (521,920) (642,855)
Property Acquisition (1,565,760) (4,084,020)
Administration (127,711) (134,169) (140,956) (148,086) (155,582) (163,460) (171,733) (180,418) (189,543) (199,135)
Financing Fees (50,000) (250,000)
Total Expenditures (2,917,791) (134,169) (140,956) (148,086) (155,582) (12,778,965) (171,733) (1,143,238) (602,743) (539,615)
Ending Balance 205,019 520,471 382,117 235,942 397,155 589,986 872,134 225,222 159,402 202,185
Ending Balance/Inflation Index 157,126 387,284 276,056 165,492 270,449 390,048 559,778 140,352 96,444 118,765
Source:Tiberius Solutions LLC with input from City of Tigard
Report on Tigard City Center Urban Renewal Plan Amendment 22
Table 12- Projects and Costs in Year of Expenditure Dollars, page 3
HE HE HE HE HE HE HE HE HE HE
Resources 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049
Beginning Balance 202,185 447,015 404,097 359,609 313,504 265,732 216,241 164,977 111,887 56,913
Interest Earnings 1,011 2,235 2,020 1,798 1,568 1,329 1,081 825 559 285
Transfer from Debt Service Fund 287,657 - - - - - - - - -
Bond/Loan Proceeds - - - - - - - - - -
Total Resources 490,853 449,250 406,117 361,407 315,072 267,061 217,322 165,802 112,446 57,198
Expenditures(YOE$)
Public Spaces - - - - - - - - - -
Street Improvements
Streetscape
Ped/Bike Facilities
Public Facilities
Parks
Affordable Housing Dev Assistance
Planning and Dev.Assistance
Property Acquisition
Administration (43,838) (45,153) (46,508) (47,903) (49,340) (50,820) (52,345) (53,915) (55,533) (57,198)
Financing Fees -
Total Expenditures (43,838) (45,153) (46,508) (47,903) (49,340) (50,820) (52,345) (53,915) (55,533) (57,198)
Ending Balance 447,015 404,097 359,609 313,504 265,732 216,241 164,977 111,887 56,913
Ending Balance/Inflation Index 254,927 223,740 193,307 163,616 134,643 106,376 78,793 51,881 25,621
Source:Tiberius Solutions LLC with input from City of Tigard
Report on Tigard City Center Urban Renewal Plan Amendment 23
VII. THE ESTIMATED AMOUNT OF TAX INCREMENT REVENUES REQUIRED AND
THE ANTICIPATED YEAR IN WHICH INDEBTEDNESS WILL BE RETIRED
Table 13 shows the allocation of tax increment revenues to debt service. Table 13 shows no
new debt being incurred after FYE 2035, as required by the Plan. It is anticipated that the TCDA
will have sufficient resources to retire all debt by FYE 2049, which would then allow the TCDA
to cease collecting tax increment revenues and close down the Area.
The time frame for retiring all debt for the Area is not absolute; it may vary depending on the
actual terms of the indebtedness incurred and the actual tax increment revenues received. If
the economy is slower, it may take longer to repay all debt; if the economy is more robust
than the projections, it may take a shorter time period. The TCDA may decide to issue bonds or
take on loans on a different schedule, and that will alter the financing assumptions, however
the proposed Plan Amendment prohibits any new debt after FYE 2035.
The maximum indebtedness of the Plan is $42,800,000 (Forty Two Million Eight Hundred
Thousand dollars and no cents). The City of Tigard estimates that $10,375,574 of indebtedness
has been incurred by the TCDA for the Area through the end of FYE 2020, resulting in
$11,624,426 in remaining capacity from the original indebtedness for the Area. The capacity
for projects, programs and administration starting in FYE 2021 is $36,629,894. The estimated
amount of tax increment revenues necessary to service all debt is $52,469,918. This number is
higher than the amount allocated to projects as it includes debt service payments (principal
and interest) to pay for new debt and debt that was already incurred in the past, including
projects that were already funded in prior fiscal years.
Information on scheduled debt service payments for all existing debt was provided by the City
of Tigard Finance Department. Additionally, we assume the TCDA will undertake four
additional borrowings in future years to finance the costs of projects identified in the Plan. For
speculative future borrowings, the amounts, timing, and terms of the debt are unknown. The
assumptions used in this Report are for planning purposes only, and subject to change based
on market conditions. These assumptions were developed by Tiberius Solutions LLC and
informed by conversations with staff from the City of Tigard Finance Department and their
financial advisor. Borrowing assumptions in later years (FYE 2030 and beyond) are more
conservative than in earlier years (FYE 2021 through FYE 2029), to reflect greater financial
uncertainty in later years. Specific key assumptions for the financial analysis include:
• Debt Service Coverage Ratio: Payments for future indebtedness are structured so that
annual tax increment revenues are projected to equal or exceed 1.1 x total annual debt
service payments through FYE 2029. In FYE 2030 and thereafter, the projected
minimum debt service coverage ratio increases to 1.25.
• New Debt FYE 2024: Assumes principal amount of$5,800,000 with 4.0% interest rate,
30-year amortization period, level annual debt service payments, and no prepayment
penalties.
Report on Tigard City Center Urban Renewal Plan Amendment 24
• New Debt FYE 2027: Assumes principal amount of$4,200,000 with 4.0% interest rate,
30-year amortization period, level annual debt service payments, and no prepayment
penalties.
• New Debt FYE 2030: Assumes principal amount of$2,500,000 with 4.5% interest rate,
20-year amortization period, level annual debt service payments, and no prepayment
penalties.
• New Debt FYE 2035: Assumes principal amount of$12,500,000 with 4.5% interest rate,
20-year amortization period, level annual debt service payments, and no prepayment
penalties.
For all of the assumed future borrowings, it is forecast that excess tax increment revenues in
later years (FYE 2040 and beyond) would allow for additional principal payments, allowing for
the loans to be repaid ahead of schedule. The assumptions used in this analysis present just
one potential scenario for the long-term cash flow of the Area. If actual results differ from
these assumptions, it could affect the ability of the TCDA to achieve these projects at these
dollar amounts on this schedule. Based on these assumptions, we find the Amendment
financially feasible.
There is a positive fund balance shown in FYE 2932 and FYE 2033. In these years the Area's
outstanding debt has a balloon payment scheduled in FYE 2034, so the Debt Service Fund
needs to accumulative sufficient resources to be able to pay that oversized debt payment.
Report on Tigard City Center Urban Renewal Plan Amendment 25
Table 13-Tax Increment Revenues and Allocations to Debt Service Fund
HE
Resources Total 2020 HE 2021 HE 2022 HE 2023 HE 2024 HE 2025 HE 2026 HE 2027 HE 2028
Beginning Balance - 1,085,936 - - - -
Interest Earnings 14,894 - 5,430 - - - - - -
TIF:Current Year 51,685,982 581,197 646,142 716,136 788,323 863,038 940,367 1,031,836 1,126,965 1,238,265
TIF:Prior Years 783,936 9,177 8,718 9,692 10,742 11,825 12,946 14,106 15,478 16,904
Total Resources 52,484,812 590,374 1,746,226 725,828 799,065 874,862 953,312 1,045,942 1,142,442 1,255,169
Expenditures
New Debt HE 2024 (6,764,129) - - - - (335,415) (335,415) (335,415) (335,415) (335,415)
New Debt HE 2027 (4,614,842) (242,886) (242,886)
New Debt HE 2030 (3,267,236)
New Debt HE 2035 (13,527,860)
Series 2019A (2,332,883) (124,746) (124,858) (124,922) (124,940) (124,910) (124,834) (124,710) (125,538)
Series 2019B (5,226,787) (281,587) (281,773) (280,809) (281,726) (281,464) (281,052) (281,491) (281,750)
Early Principal Payment
New Debt HE 2024 (2,539,427)
New Debt HE 2027 (2,082,879)
New Debt FYE 2030 (515,784)
New Debt HE 2035 (4,688,785)
Total Debt Service,Scheduled Only (35,733,738) (406,332) (406,630) (405,732) (742,081) (741,789) (741,300) (984,501) (985,589)
Total Debt Service (45,560,613) (406,332) (406,630) (405,732) (742,081) (741,789) (741,300) (984,501) (985,589)
Debt Service Coverage Ratio 1.59 1.76 1.94 1.16 1.27 1.39 1.14 1.26
Transfer to Capital Improvements
Fund (7,419,761) (1,339,894) (319,197) (393,334) (132,781) (211,523) (304,642) (157,941) (269,580)
Total Expenditures (52,980,374) (1,746,226) (725,828) (799,065) (874,862) (953,312) (1,045,942) (1,142,442) (1,255,169)
Ending Balance
Source:Tiberius Solutions LLC
Report on Tigard City Center Urban Renewal Plan Amendment 26
Table 13-Tax Increment Revenues and Allocations to Debt Service Fund, page 2
Resources HE 2029 HE 2030 HE 2031 HE 2032 HE 2033 HE 2034 HE 2035 HE 2036 HE 2037 HE 2038
Beginning Balance 583,071 1,309,840
Interest Earnings 2,915 6,549 - - -
TIF:Current Year 1,354,573 1,476,116 1,603,128 1,735,855 1,874,555 2,019,497 2,170,961 2,149,810 2,191,161 2,234,372
TIF:Prior Years 18,574 20,319 22,142 24,047 26,038 28,118 30,292 32,564 32,247 32,867
Total Resources 1,373,147 1,496,434 1,625,269 1,759,902 2,486,579 3,364,005 2,201,254 2,182,375 2,223,408 2,267,240
Expenditures
New Debt HE 2024 (335,415) (335,415) (335,415) (335,415) (335,415) (335,415) (335,415) (335,415) (335,415) (335,415)
New Debt FYE 2027 (242,886) (242,886) (242,886) (242,886) (242,886) (242,886) (242,886) (242,886) (242,886) (242,886)
New Debt HE 2030 (192,190) (192,190) (192,190) (192,190) (192,190) (192,190) (192,190) (192,190) (192,190)
New Debt HE 2035 (960,952) (960,952) (960,952) (960,952)
Series 2019A (125,296) (125,007) (124,671) (125,287) (124,833) (708,331)
Series 2019B (280,830) (280,760) (281,511) (281,053) (281,415) (1,569,568)
Early Principal Payment
New Debt HE 2024
New Debt HE 2027
New Debt HE 2030
New Debt HE 2035
Total Debt Service,Scheduled Only (984,427) (1,176,259) (1,176,673) (1,176,831) (1,176,739) (3,048,390) (1,731,443) (1,731,443) (1,731,443) (1,731,443)
Total Debt Service (984,427) (1,176,259) (1,176,673) (1,176,831) (1,176,739) (3,048,390) (1,731,443) (1,731,443) (1,731,443) (1,731,443)
Debt Service Coverage Ratio 1.38 1.25 1.36 1.48 1.59 0.66 1.25 1.24 1.27 1.29
Transfer to Capital Improvements
Fund (388,720) (320,176) (448,596) - - (315,615) (469,810) (450,932) (491,965) (535,797)
Total Expenditures (1,373,147) (1,496,434) (1,625,269) (1,176,831) (1,176,739) (3,364,005) (2,201,254) (2,182,375) (2,223,408) (2,267,240)
Ending Balance 583,071 1,309,840
Source:Tiberius Solutions LLC
Report on Tigard City Center Urban Renewal Plan Amendment 27
Table 13-Tax Increment Revenues and Allocations to Debt Service Fund, page 3
FYE
Resources HE 2039 HE 2040 HE 2041 HE 2042 HE 2043 HE 2044 HE 2045 HE 2046 HE 2047 HE 2048 2049
Beginning Balance
Interest Earnings - - - - - - - - - -
TIF:Current Year 2,279,528 2,326,716 2,376,028 2,427,558 2,481,407 2,537,680 2,596,484 2,657,935 2,612,500 2,612,500 35,347
TIF:Prior Years 33,516 34,193 34,901 35,640 36,413 37,221 38,065 38,947 39,869 39,188 39,188
Total Resources 2,313,044 1 2,360,909 2,410,928 2,463,198 2,517,821 2,574,901 1 2,634,550 2,696,883 2,652,369 2,651,688 1 74,535
Expenditures
New Debt FYE 2024 (335,415) (335,415) (335,415) (335,415) (335,415) (55,838) - - - - -
New Debt FYE 2027 (242,886) (242,886) (242,886) (242,886) (242,886) (242,886) (242,886)
New Debt FYE 2030 (192,190) (192,190) (192,190) (192,190) (192,190) (192,190) (192,190) (192,190)
New Debt FYE 2035 (960,952) (960,952) (960,952) (960,952) (960,952) (960,952) (960,952) (960,952) (960,952) (960,952) (74,535)
Series 2019A
Series 20196
Early Principal Payment
New Debt FYE 2024 (341,809) (679,485) (731,755) (786,377)
New Debt FYE 2027 (1,123,034) (959,845)
New Debt FYE 2030 (278,676) (237,108)
New Debt FYE 2035 (1,306,632) (1,691,417) (1,690,736)
Total Debt Service,Scheduled Only (1,731,443) (1,731,443) (1,731,443) (1,731,443) (1,731,443) (1,451,867) (1,396,029) (1,153,142) (960,952) (960,952) (74,535)
Total Debt Service (1,731,443) (2,073,252) (2,410,928) (2,463,198) (2,517,821) (2,574,901) (2,634,550) (2,696,883) (2,652,369) (2,651,688) (74,535)
Debt Service Coverage Ratio 1.32 1.34 1.37 1.40 1.43 1.75 1.86 2.30 2.72 2.72 0.47
Transfer to URA Projects Fund (581,601) (287,657) - - - - - - - - -
Total Expenditures (2,313,044) (2,360,909) (2,410,928) (2,463,198) (2,517,821) (2,574,901) (2,634,550) (2,696,883) (2,652,369) (2,651,688) (74,535)
Ending Balance
Source:Tiberius Solutions LLC
Report on Tigard City Center Urban Renewal Plan Amendment 28
VIII. FINANCIAL ANALYSIS OF THE PLAN
The estimated tax increment revenues through FYE 2049 as shown above, are based on
projections of the assessed value of development within the Area and the consolidated tax
rate that will apply in the Area. The analysis assumes average annual growth in assessed
value starting at 3.5% and increasing to 4.0% in FYE 2026 and 4.5% in FYE 2028. These
growth rates assume both the appreciation of existing property values and new
construction activity in the Area.
Table 15 shows the projected incremental assessed value, tax rates, and tax increment
revenues each year, adjusted for discounts, delinquencies, and compression losses. These
projections of increment are the basis for the projections in Tables 12 and 13. Gross TIF is
calculated by multiplying the tax rate times the excess value. The tax rate is stated per
thousand dollars of assessed value, so the calculation is "tax rate times excess value divided
by one thousand". The consolidated tax rate includes only permanent rate levies.
Revenue sharing is part of the 2009 legislative changes to urban renewal and comes into
effect when a substantial amendment to increase maximum indebtedness is approved.
Revenue sharing means that, at thresholds defined in ORS 457.470, the impacted taxing
jurisdictions will receive a share of the incremental growth in the District. The first threshold
is 10% of the original maximum indebtedness ($2,200,000). At the 10%threshold, the
Agency will receive the full 10% of the initial maximum indebtedness plus 25% of the
increment above the 10% threshold and the taxing jurisdictions will receive 75% of the
increment above the 10% threshold. Revenue sharing targets are projected to be reached in
FYE 2036. If assessed value in the Area grows more quickly than projected, the revenue
sharing triggers could be reached earlier.
The second threshold is set at 12.5% of the maximum indebtedness ($2,750,000). If this
threshold is met, revenue for the district would be capped at 12.5% of the maximum
indebtedness, with all additional tax revenue being shared with affected taxing districts.
This revenue sharing target is projected to be reached in FYE 2047.
Projected Revenue Sharing is shown in Table 14. The revenue sharing shown under the
"shared-voluntary" column in FYE 2049 is not a result of meeting the revenue sharing
triggers, but a result of reaching the maximum indebtedness the final year of the District,
estimated in FYE 2049.
Report on Tigard City Center Urban Renewal Plan Amendment 29
Table 14 - Projected Revenue Sharing
Gross TIF
Shared - Shared - Final Gross
FYE Mandatory Voluntary TIF for URA
2036 $188,874 $2,262,958
2037 $319,455 $2,306,485
2038 $455,912 $2,351,971
2039 $598,510 $2,399,503
2040 $7471525 $2,449,175
2041 $903,245 $2,501,082
2042 $1,065,972 $2,555,324
2043 $1,236,023 $2,612,008
2044 $1,413,725 $2,671,242
2045 $1,599,425 $2,733,142
2046 $1,793,480 $2,797,827
2047 $2,111,691 $2,750,000
2048 $2,394,243 $2,750,000
2049 $2,689,509 $2,712,792 $37,208
Total $17,5171592 $2,712,792 $33,177,924
Source:Tiberius Solutions LLC
Report on Tigard City Center Urban Renewal Plan Amendment 30
Table 15- Projected Incremental Assessed Value, Tax Rates, and Tax Increment Revenues, page 1
Assessed Value Increment Tax Increment Finance Dollars
Net Net Net
FYE Total Frozen Base Used Unused Tax Rate Gross Adjustments (Current Year) (Prior Year) (Total)
2020 168,286,420 117,522,911 50,763,509 - 12.0517 611,787 (30,589) 581,197 9,177 590,374
2021 173,945,351 117,522,911 56,422,440 - 12.0546 680,150 (34,008) 646,142 8,718 654,860
2022 180,033,439 117,522,911 62,510,528 - 12.0592 753,827 (37,691) 716,136 9,692 725,828
2023 186,334,608 117,522,911 68,811,697 - 12.0592 829,814 (41,491) 788,323 10,742 799,065
2024 192,856,319 117,522,911 75,333,408 - 12.0592 908,461 (45,423) 863,038 11,825 874,862
2025 199,606,290 117,522,911 82,083,379 - 12.0592 989,860 (49,493) 940,367 12,946 953,312
2026 207,590,542 117,522,911 90,067,631 - 12.0592 1,086,144 (54,307) 1,031,836 14,106 1,045,942
2027 215,894,164 117,522,911 98,371,253 - 12.0592 1,186,279 (59,314) 1,126,965 15,478 1,142,442
2028 225,609,401 117,522,911 108,086,490 - 12.0592 1,303,437 (65,172) 1,238,265 16,904 1,255,169
2029 235,761,823 117,522,911 118,238,912 - 12.0592 1,425,867 (71,293) 1,354,573 18,574 1,373,147
2030 246,371,105 117,522,911 128,848,194 - 12.0592 1,553,806 (77,690) 1,476,116 20,319 1,496,434
2031 257,457,806 117,522,911 139,934,895 - 12.0592 1,687,503 (84,375) 1,603,128 22,142 1,625,269
2032 269,043,408 117,522,911 151,520,497 - 12.0592 1,827,216 (91,361) 1,735,855 24,047 1,759,902
2033 281,150,361 117,522,911 163,627,450 - 12.0592 1,973,216 (98,661) 1,874,555 26,038 1,900,593
2034 1 293,802,127 117,522,911 176,279,216 - 12.0592 2,125,786 (106,289) 2,019,497 28,118 2,047,615
Source:Tiberius Solutions LLC
Notes:TIF is tax increment revenues
Tax rates are expressed in terms of dollars per$1,000 of assessed value.
Changes in total tax rates are due to increasing the Tualatin SWC rate to.0900 in FYE 2022
Report on Tigard City Center Urban Renewal Plan Amendment 31
Table 16— Projected Incremental Assessed Value, Tax Rates, and Tax Increment Revenues, page 2
Assessed Value Increment Tax Increment Finance Dollars
Net Net Net
FYE Total Frozen Base Used Unused Tax Rate Gross Adjustments (Current Year) (Prior Year) (Total)
2035 307,023,223 117,522,911 189,500,312 - 12.0592 2,285,222 (114,261) 2,170,961 30,292 2,201,254
2036 320,839,268 117,522,911 187,654,086 15,662,271 12.0592 2,262,958 (113,148) 2,149,810 32,564 2,182,375
2037 335,277,036 117,522,911 191,263,528 26,490,597 12.0592 2,306,485 (115,324) 2,191,161 32,247 2,223,408
2038 350,364,503 117,522,911 195,035,395 37,806,197 12.0592 2,351,971 (117,599) 2,234,372 32,867 2,267,240
2039 366,130,904 117,522,911 198,976,995 49,630,998 12.0592 2,399,503 (119,975) 2,279,528 33,516 2,313,044
2040 382,606,796 117,522,911 203,095,968 61,987,917 12.0592 2,449,175 (122,459) 2,326,716 34,193 2,360,909
2041 399,824,100 117,522,911 207,400,294 74,900,895 12.0592 2,501,082 (125,054) 2,376,028 34,901 2,410,928
2042 417,816,183 117,522,911 211,898,315 88,394,957 12.0592 2,555,324 (127,766) 2,427,558 35,640 2,463,198
2043 436,617,910 117,522,911 216,598,746 102,496,253 12.0592 2,612,008 (130,600) 2,481,407 36,413 2,517,821
2044 456,265,717 117,522,911 221,510,698 117,232,108 12.0592 2,671,242 (133,562) 2,537,680 37,221 2,574,901
2045 476,797,674 117,522,911 226,643,687 132,631,076 12.0592 2,733,142 (136,657) 2,596,484 38,065 2,634,550
2046 498,253,569 117,522,911 232,007,661 148,722,997 12.0592 2,797,827 (139,891) 2,657,935 38,947 2,696,883
2047 520,674,979 117,522,911 228,041,661 175,110,407 12.0592 2,750,000 (137,500) 2,612,500 39,869 2,652,369
2048 544,105,353 117,522,911 228,041,661 198,540,781 12.0592 2,750,000 (137,500) 2,612,500 39,188 2,651,688
2049 568,590,094 117,522,911 3,085,422 447,981,761 12.0592 37,208 (1,860) 35,347 39,188 74,535
Total I 54,406,297 (2,720,315) 51,685,982 783,936 52,469,918
Source:Tiberius Solutions LLC
Notes:TIF is tax increment revenues
Tax rates are expressed in terms of dollars per$1,000 of assessed value.
Changes in total tax rates are due to increasing the Tualatin SWC rate to.0900 in HE 2022
Report on Tigard City Center Urban Renewal Plan Amendment 32
IX. IMPACT OF THE TAX INCREMENT FINANCING
This section describes the impact of tax increment financing of the Amendment (increased
maximum indebtedness), both until and after the indebtedness is repaid, upon all entities
levying taxes upon property in the urban renewal area. The impact of tax increment
financing on overlapping taxing districts consists of the property tax revenues foregone on
permanent rate levies as applied to the growth in assessed value in the Area.
The projections for impacts on due to the increase in maximum indebtedness in this
Amendment and are shown in Tables 16a and 16b. The impact of the Amendment on
overlapping taxing districts is measured by the increase in annual tax increment revenues
that would be foregone by those districts until all debt is repaid on the increased maximum
indebtedness of$20,800,000.
The estimated impacts of the original maximum indebtedness prior to this Amendment are
shown in Tables 16c and 16d. These show incurring the full amount of original maximum
indebtedness of$22 million in the original time frame of FYE 2026 and paying off all debt by
FYE 2036.
The estimated impacts for the full (original plus the increased) maximum indebtedness from
this Amendment are shown in Tables 16e and 16f. All debt is incurred by FYE 2035 and paid
off by FYE 2049.
The Tigard Tualatin School District and the Northwest Regional Education Service District
are not directly affected by the tax increment financing, but the amounts of their taxes
divided for the urban renewal plan are shown in the following tables. Under current school
funding law, property tax revenues are combined with State School Fund revenues to
achieve per-student funding targets. Under this system, property taxes foregone, due to the
use of tax increment financing, are substantially replaced with State School Fund revenues,
as determined by a funding formula at the State level.
General obligation bonds will not be impacted by this Amendment, because only bonds
approved by voters prior to October 6, 2001 are affected by this Plan, and there are none
remaining. Local option levies are not impacted by this Amendment.
Report on Tigard City Center Urban Renewal Plan Amendment 33
Table 17a - Projected Impact on Taxing District Permanent Rate Levies of Increased MI -
General Government
Soil/Water Tualatin Tigard
Washington Conservation Port of Valley Fire City of Tualatin
County Tualatin Metro Portland &Rescue Tigard Aquatic Subtotal
FYE Permanent Permanent Permanent Permanent Permanent Permanent Permanent Gen.Govt.
2036 ($58,613) ($2,346) ($2,518) ($1,827) ($39,760) ($65,514) ($2,346) ($172,925)
2037 ($414,547) ($16,594) ($17,811) ($12,925) ($281,208) ($463,351) ($16,594) ($1,223,029)
2038 ($422,720) ($16,921) ($18,162) ($13,179) ($286,752) ($472,486) ($16,921) ($1,247,140)
2039 ($431,260) ($17,263) ($18,529) ($13,446) ($292,545) ($482,031) ($17,263) ($1,272,335)
2040 ($440,184) ($17,620) ($18,912) ($13,724) ($298,598) ($492,006) ($17,620) ($1,298,664)
2041 ($449,510) ($17,993) ($19,313) ($14,015) ($304,925) ($502,430) ($17,993) ($1,326,178)
2042 ($459,256) ($18,383) ($19,731) ($14,319) ($311,536) ($513,323) ($18,383) ($1,354,931)
2043 ($469,440) ($18,791) ($20,169) ($14,636) ($318,444) ($524,706) ($18,791) ($1,384,977)
2044 ($480,082) ($19,217) ($20,626) ($14,968) ($325,663) ($536,601) ($19,217) ($1,416,375)
2045 ($491,204) ($19,662) ($21,104) ($15,315) ($333,207) ($549,032) ($19,662) ($1,449,186)
2046 ($502,825) ($20,127) ($21,603) ($15,677) ($341,091) ($562,022) ($20,127) ($1,483,473)
2047 ($494,526) ($19,795) ($21,247) ($15,418) ($335,461) ($552,746) ($19,795) ($1,458,988)
2048 ($494,399) ($19,790) ($21,241) ($15,414) ($335,375) ($552,603) ($19,790) ($1,458,613)
2049 ($13,897) ($556) ($597) ($433) ($9,427) ($15,533) ($556) ($40,999)
Total ($5,622,462) ($225,059) ($241,563) ($175,296) ($3,813,992) ($6,284,384) ($225,059) ($16,587,814)
Source:Tiberius Solutions LLC
Report on Tigard City Center Urban Renewal Plan Amendment 34
Table 16b- Projected Impact on Taxing District Permanent Rate Levies of Increased MI -
Education
NW
Regional
Portland Education
Tigard/Tualatin Community Service
School District College District Subtotal Total
FYE Permanent Permanent Permanent Education All
2036 ($130,063) ($7,372) ($4,009) ($141,444) ($314,369)
2037 ($919,881) ($52,141) ($28,357) ($1,000,379) ($2,223,408)
2038 ($938,015) ($53,169) ($28,916) ($1,020,100) ($2,267,240)
2039 ($956,965) ($54,243) ($29,500) ($1,040,709) ($2,313,044)
2040 ($976,769) ($55,366) ($30,110) ($1,062,245) ($2,360,909)
2041 ($997,463) ($56,539) ($30,748) ($1,084,750) ($2,410,928)
2042 ($1,019,088) ($57,764) ($31,415) ($1,108,268) ($2,463,198)
2043 ($1,041,687) ($59,045) ($32,112) ($1,132,844) ($2,517,821)
2044 ($1,065,302) ($60,384) ($32,840) ($1,158,526) ($2,574,901)
2045 ($1,089,981) ($61,783) ($33,600) ($1,185,364) ($2,634,550)
2046 ($1,115,769) ($63,245) ($34,395) ($1,213,409) ($2,696,883)
2047 ($1,097,353) ($62,201) ($33,828) ($1,193,381) ($2,652,369)
2048 ($1,097,071) ($62,185) ($33,819) ($1,193,075) ($2,651,688)
2049 ($30,837) ($1,748) ($951) ($33,535) ($74,535)
Total ($12,476,244) ($707,184) ($384,600) ($13,568,028) ($30,155,842)
Source:Tiberius Solutions LLC.Please refer to the explanation of the schools funding in the preceding section
Report on Tigard City Center Urban Renewal Plan Amendment 35
Table 16c- Projected Impact on Taxing District Permanent Rate Levies of Original MI -
General Government
Soil/Water Tualatin Tigard
Washington Conservation Port of Valley Fire City of Tualatin
County Tualatin Metro Portland &Rescue Tigard Aquatic Subtotal
FYE Permanent Permanent Permanent Permanent Permanent Permanent Permanent Gen.Govt.
2020 ($110,142) ($4,041) ($4,732) ($3,434) ($74,715) ($123,109) ($4,409) ($324,582)
2021 ($122,143) ($4,639) ($5,248) ($3,808) ($82,856) ($136,523) ($4,889) ($360,106)
2022 ($135,328) ($5,417) ($5,814) ($4,219) ($91,800) ($151,260) ($5,417) ($399,256)
2023 ($148,983) ($5,964) ($6,401) ($4,645) ($101,063) ($166,523) ($5,964) ($439,542)
2024 ($163,115) ($6,529) ($7,008) ($5,086) ($110,649) ($182,319) ($6,529) ($481,235)
2025 ($177,742) ($7,115) ($7,636) ($5,542) ($120,571) ($198,667) ($7,115) ($524,388)
2026 ($195,013) ($7,806) ($8,379) ($6,080) ($132,287) ($217,971) ($7,806) ($575,341)
2027 ($213,005) ($8,526) ($9,152) ($6,641) ($144,492) ($238,081) ($8,526) ($628,423)
2028 ($234,022) ($9,368) ($10,055) ($7,296) ($158,749) ($261,573) ($9,368) ($690,430)
2029 ($256,019) ($10,248) ($11,000) ($7,982) ($173,670) ($286,160) ($10,248) ($755,327)
2030 ($279,006) ($11,168) ($11,987) ($8,699) ($189,263) ($311,852) ($11,168) ($823,143)
2031 ($303,026) ($12,130) ($13,019) ($9,448) ($205,558) ($338,701) ($12,130) ($894,011)
2032 ($328,128) ($13,134) ($14,098) ($10,230) ($222,585) ($366,758) ($13,134) ($968,069)
2033 ($354,360) ($14,184) ($15,225) ($11,048) ($240,380) ($396,078) ($14,184) ($1,045,459)
2034 ($381,771) ($15,282) ($16,402) ($11,903) ($258,974) ($426,717) ($15,282) ($1,126,331)
2035 ($410,417) ($16,428) ($17,633) ($12,796) ($278,406) ($458,734) ($16,428) ($1,210,843)
2036 ($348,284) ($13,941) ($14,964) ($10,859) ($236,258) ($389,287) ($13,941) ($1,027,533)
Total ($4,160,505) ($165,921) ($178,751) ($129,715) ($2,822,274) ($4,650,313) ($166,539) ($12,274,019)
Source:Tiberius Solutions LLC.
Report on Tigard City Center Urban Renewal Plan Amendment 36
Table 16d - Projected Impact on Taxing District Permanent Rate Levies of Original MI -
Education
NW Regional
Portland Education
Tigard/Tualatin Community Service
School District College District Subtotal Total
FYE Permanent Permanent Permanent Education All
2020 ($244,405) ($13,853) ($7,534) ($265,793) ($590,374)
2021 ($271,036) ($15,363) ($8,355) ($294,754) ($654,860)
2022 ($300,294) ($17,021) ($9,257) ($326,572) ($725,828)
2023 ($330,594) ($18,739) ($10,191) ($359,524) ($799,065)
2024 ($361,953) ($20,516) ($11,158) ($393,627) ($874,862)
2025 ($394,410) ($22,356) ($12,158) ($428,924) ($953,312)
2026 ($432,733) ($24,528) ($13,340) ($470,601) ($1,045,942)
2027 ($472,658) ($26,791) ($14,570) ($514,019) ($1,142,442)
2028 ($519,296) ($29,435) ($16,008) ($564,739) ($1,255,169)
2029 ($568,106) ($32,202) ($17,513) ($617,821) ($1,373,147)
2030 ($619,113) ($35,093) ($19,085) ($673,291) ($1,496,434)
2031 ($672,416) ($38,114) ($20,728) ($731,258) ($1,625,269)
2032 ($728,117) ($41,271) ($22,445) ($791,833) ($1,759,902)
2033 ($786,324) ($44,571) ($24,240) ($855,135) ($1,900,593)
2034 ($847,151) ($48,019) ($26,115) ($921,284) ($2,047,615)
2035 ($910,715) ($51,622) ($28,074) ($990,411) ($2,201,254)
2036 ($772,842) ($43,807) ($23,824) ($840,472) ($1,868,005)
Total ($9,232,161) ($523,301) ($284,596) ($10,040,058) ($22,314,077)
Source:Tiberius Solutions LLC.Please refer to the explanation of the schools funding in the preceding section
Report on Tigard City Center Urban Renewal Plan Amendment 37
Table 16e- Projected Impact on Taxing District Permanent Rate Levies of Full Impact
(Original and Increased) MI -General Government
Soil/Water Tualatin Tigard
Washington Conservation Port of Valley Fire Tualatin
County Tualatin Metro Portland &Rescue City of Tigard Aquatic Subtotal
FYE Permanent Permanent Permanent Permanent Permanent Permanent Permanent Gen.Govt.
2020 ($110,142) ($4,041) ($4,732) ($3,434) ($74,715) ($123,109) ($4,409) ($324,582)
2021 ($122,143) ($4,639) ($5,248) ($3,808) ($82,856) ($136,523) ($4,889) ($360,106)
2022 ($135,328) ($5,417) ($5,814) ($4,219) ($91,800) ($151,260) ($5,417) ($399,256)
2023 ($148,983) ($5,964) ($6,401) ($4,645) ($101,063) ($166,523) ($5,964) ($439,542)
2024 ($163,115) ($6,529) ($7,008) ($5,086) ($110,649) ($182,319) ($6,529) ($481,235)
2025 ($177,742) ($7,115) ($7,636) ($5,542) ($120,571) ($198,667) ($7,115) ($524,388)
2026 ($195,013) ($7,806) ($8,379) ($6,080) ($132,287) ($217,971) ($7,806) ($575,341)
2027 ($213,005) ($8,526) ($9,152) ($6,641) ($144,492) ($238,081) ($8,526) ($628,423)
2028 ($234,022) ($9,368) ($10,055) ($7,296) ($158,749) ($261,573) ($9,368) ($690,430)
2029 ($256,019) ($10,248) ($11,000) ($7,982) ($173,670) ($286,160) ($10,248) ($755,327)
2030 ($279,006) ($11,168) ($11,987) ($8,699) ($189,263) ($311,852) ($11,168) ($823,143)
2031 ($303,026) ($12,130) ($13,019) ($9,448) ($205,558) ($338,701) ($12,130) ($894,011)
2032 ($328,128) ($13,134) ($14,098) ($10,230) ($222,585) ($366,758) ($13,134) ($968,069)
2033 ($354,360) ($14,184) ($15,225) ($11,048) ($240,380) ($396,078) ($14,184) ($1,045,459)
2034 ($381,771) ($15,282) ($16,402) ($11,903) ($258,974) ($426,717) ($15,282) ($1,126,331)
2035 ($410,417) ($16,428) ($17,633) ($12,796) ($278,406) ($458,734) ($16,428) ($1,210,843)
2036 ($406,897) ($16,287) ($17,482) ($12,686) ($276,018) ($454,800) ($16,287) ($1,200,458)
2037 ($414,547) ($16,594) ($17,811) ($12,925) ($281,208) ($463,351) ($16,594) ($1,223,029)
2038 ($422,720) ($16,921) ($18,162) ($13,179) ($286,752) ($472,486) ($16,921) ($1,247,140)
2039 ($431,260) ($17,263) ($18,529) ($13,446) ($292,545) ($482,031) ($17,263) ($1,272,335)
2040 ($440,184) ($17,620) ($18,912) ($13,724) ($298,598) ($492,006) ($17,620) ($1,298,664)
2041 ($449,510) ($17,993) ($19,313) ($14,015) ($304,925) ($502,430) ($17,993) ($1,326,178)
2042 ($459,256) ($18,383) ($19,731) ($14,319) ($311,536) ($513,323) ($18,383) ($1,354,931)
2043 ($469,440) ($18,791) ($20,169) ($14,636) ($318,444) ($524,706) ($18,791) ($1,384,977)
2044 ($480,082) ($19,217) ($20,626) ($14,968) ($325,663) ($536,601) ($19,217) ($1,416,375)
2045 ($491,204) ($19,662) ($21,104) ($15,315) ($333,207) ($549,032) ($19,662) ($1,449,186)
2046 ($502,825) ($20,127) ($21,603) ($15,677) ($341,091) ($562,022) ($20,127) ($1,483,473)
2047 ($494,526) ($19,795) ($21,247) ($15,418) ($335,461) ($552,746) ($19,795) ($1,458,988)
2048 ($494,399) ($19,790) ($21,241) ($15,414) ($335,375) ($552,603) ($19,790) ($1,458,613)
2049 ($13,897) ($556) ($597) ($433) ($9,427) ($15,533) ($556) ($40,999)
Total ($9,782,967) ($390,980) ($420,314) ($305,011) ($6,636,266) ($10,934,697) ($391,597) ($28,861,832)
Source:Tiberius Solutions LLC
Report on Tigard City Center Urban Renewal Plan Amendment 38
Table 16f- Projected Impact on Taxing District Permanent Rate Levies of Full MI (Original
and Increased)- Education
NW Regional
Portland Education
Tigard/Tualatin Community Service
School District College District Subtotal Total
HE Permanent Permanent Permanent Education All
2020 ($244,405) ($13,853) ($7,534) ($265,793) ($590,374)
2021 ($271,036) ($15,363) ($8,355) ($294,754) ($654,860)
2022 ($300,294) ($17,021) ($9,257) ($326,572) ($725,828)
2023 ($330,594) ($18,739) ($10,191) ($359,524) ($799,065)
2024 ($361,953) ($20,516) ($11,158) ($393,627) ($874,862)
2025 ($394,410) ($22,356) ($12,158) ($428,924) ($953,312)
2026 ($432,733) ($24,528) ($13,340) ($470,601) ($1,045,942)
2027 ($472,658) ($26,791) ($14,570) ($514,019) ($1,142,442)
2028 ($519,296) ($29,435) ($16,008) ($564,739) ($1,255,169)
2029 ($568,106) ($32,202) ($17,513) ($617,821) ($1,373,147)
2030 ($619,113) ($35,093) ($19,085) ($673,291) ($1,496,434)
2031 ($672,416) ($38,114) ($20,728) ($731,258) ($1,625,269)
2032 ($728,117) ($41,271) ($22,445) ($791,833) ($1,759,902)
2033 ($786,324) ($44,571) ($24,240) ($855,135) ($1,900,593)
2034 ($847,151) ($48,019) ($26,115) ($921,284) ($2,047,615)
2035 ($910,715) ($51,622) ($28,074) ($990,411) ($2,201,254)
2036 ($902,904) ($51,179) ($27,833) ($981,917) ($2,182,375)
2037 ($919,881) ($52,141) ($28,357) ($1,000,379) ($2,223,408)
2038 ($938,015) ($53,169) ($28,916) ($1,020,100) ($2,267,240)
2039 ($956,965) ($54,243) ($29,500) ($1,040,709) ($2,313,044)
2040 ($976,769) ($55,366) ($30,110) ($1,062,245) ($2,360,909)
2041 ($997,463) ($56,539) ($30,748) ($1,084,750) ($2,410,928)
2042 ($1,019,088) ($57,764) ($31,415) ($1,108,268) ($2,463,198)
2043 ($1,041,687) ($59,045) ($32,112) ($1,132,844) ($2,517,821)
2044 ($1,065,302) ($60,384) ($32,840) ($1,158,526) ($2,574,901)
2045 ($1,089,981) ($61,783) ($33,600) ($1,185,364) ($2,634,550)
2046 ($1,115,769) ($63,245) ($34,395) ($1,213,409) ($2,696,883)
2047 ($1,097,353) ($62,201) ($33,828) ($1,193,381) ($2,652,369)
2048 ($1,097,071) ($62,185) ($33,819) ($1,193,075) ($2,651,688)
2049 ($30,837) ($1,748) ($951) ($33,535) ($74,535)
Total ($21,708,405) ($1,230,485) ($669,196) ($23,608,086) ($52,469,918)
Source:Tiberius Solutions LLC.Please refer to the explanation of the schools funding in the preceding section
Report on Tigard City Center Urban Renewal Plan Amendment 39
Table 18 shows the projected increased revenue to the taxing jurisdictions after tax
increment proceeds are projected to be terminated. These projections are for FYE 2050.
Table 18—Additional Revenues Obtained after Termination of Tax Increment Financing
Tax Revenue in HE 2050(year after termination)
Tax From Frozen From Excess
Taxing District Rate Base Value Total
General Government
Washington County 2.2484 $264,239 $1,071,708 $1,335,947
Soil and Water Conservation
Tualatin 0.0900 $10,577 $42,899 $53,476
Metro 0.0966 $11,353 $46,044 $57,397
Port of Portland 0.0701 $8,239 $33,413 $41,652
Tualatin Valley Fire & Rescue 1.5252 $179,246 $726,993 $906,239
City of Tigard 2.5131 $295,347 $1,197,879 $1,493,226
Tigard Tualatin Aquatic 0.0900 $10,577 $42,899 $53,476
Subtotal 6.6334 $779,578 $3,161,835 $3,941,413
Education
Tigard/Tualatin School District 4.9892 $586,345 $2,378,121 $2,964,466
Portland Community College 0.2828 $33,236 $134,798 $168,034
NW Regional Education Service
District 0.1538 $18,075 $73,309 $91,384
Subtotal 5.4258 $637,656 $2,586,228 $3,223,884
Total 12.0592 $1,417,234 $5,748,063 $7,165,297
Source:Tiberius Solutions LLC
Report on Tigard City Center Urban Renewal Plan Amendment 40
X. COMPLIANCE WITH STATUTORY LIMITS ON ASSESSED VALUE AND SIZE
OF URBAN RENEWAL AREA
State law limits the percentage of both a municipality's total assessed value and the total
land area that can be contained in an urban renewal area at the time of its establishment to
15%for municipalities having a population of more than 50,000 according to the latest state
census. Tigard's population eclipsed the 50,000 mark in 2019 as shown by the Portland
State University Annual Population Report Tables. As noted below, the frozen base,
including all real, personal, personal, manufactured, and utility properties in the Area, is
$117,522,911. The total assessed value of the City of Tigard, minus excess value of the
existing urban renewal areas is $6,954,974,807. Excess value is the assessed value created
above the frozen base in the urban renewal area. The total urban renewal assessed value is
7.8% of the total assessed value of the City, minus excess value. This is below the 15%
statutory limitation.
The Tigard City Center Urban Renewal Area contains 228.96 acres, including right-of-way,
and the City of Tigard contains 8,129 acres. After accounting for the acreage in the potential
Tigard Triangle Urban Renewal Area, 9.56 % of the City's acreage would be in an urban
renewal area. This is below the 15% statutory limitation.
Table 19— Urban Renewal Area Conformance with Assessed Value and Acreage Limits
Assessed Value UR Excess Acreage
City of Tigard $7,046,400,810 8,129
City of Tigard minus UR excess $6,954,974,807
Tigard City Center $117,522,911 $50,763,509 228.96
Tigard Triangle $424,744,405 $40,662,494 547.90
City Center Plus Tigard
Triangle $542,267,316 $91,426,003 776.86
Percentage in Urban Renewal 7.8%
Source:Compiled by Elaine Howard Consulting,LLC with data from City of Tigard and Washington County Department of Assessment and
Taxation(FYE 2020)
XI. RELOCATION REPORT
There is no relocation report required for the Plan. No specific acquisitions that would result
in relocation benefits have been identified, however, there are plans to acquire land for
infrastructure which may trigger relocation benefits in the future in the Area.
Report on Tigard City Center Urban Renewal Plan Amendment 41
2020 Annual Report of the Town Center Advisory Commission to the Board of the
Town Center Development Agency
December 1,2020
The Town Center Advisory Commission (TCAC) adopted annual goals and objectives for
calendar year 2020.The annual agenda for the TCAC was largely devoted to developing and
implementing these goals. Unfortunately, our April and May meetings were cancelled due
to concerns around COVID 19,but we have been able to meet virtually starting in June.
This report is organized around the adopted 2020 TCAC Goals and Objectives.
Aspirational Goal: Facilitate opportunities for development that promotes
walkability, equity, and connectivity across both urban renewal districts.
Outcomes
The completion of the Tigard Street Heritage Trail is a significant addition to Tigard's
walkability and adds to the network of trails and sidewalks that connect people to the
downtown area.
One of the TCAC recommendations last year was to support a multi-modal path across
Highway 217 to connect both urban renewal districts. We are happy to see ongoing
support from Metro and the City of Tigard with the grant application for funding. The
defeat of the ballot measure to fund the SW Corridor project will complicate this project.
Goal 1. Downtown: Identify new revitalization projects &drive existing projects to
completion in the Downtown Urban Renewal District.
Outcomes
Progress has been made on several existing projects:
• The Alongside Senior Center affordable housing project hit a key milestone with
Northwest Housing Alternatives (NHA) receiving approval for funding from
Washington County's share of the Metro housing bond. They will be applying for
other sources of funding. There have been a series of community listening sessions
and based on that feedback the building will be positioned to minimize the impact
on Senior Center parking and as far from current residential housing as possible.A
large courtyard area between the building and the Senior Center will be created
which can be utilized for events.
• Another area of focus for the TCAC this year has been the Universal Plaza. We
participated in selection of the consultant for the activation, design and engineering
of Universal Plaza and receive regular briefings on their progress. We also have
members that have volunteered as Design Advisors, providing direct input into the
design concept. While activation looks a little different due to the need for social
distancing, exciting things are happening in the space.
• The Main Street at Fanno project continues to move forward and we look forward to
breaking ground in 2021.
The TCAC has been working on the City Center Futures project and Substantial Amendment
to the Downtown urban renewal district. In July,the TCAC participated in the Downtown
visioning workshop, to help update the Downtown Vision. We also wrote a letter of
support for the Downtown Reimagined TGM grant and that award was made in September.
The Urban Renewal Improvement Programs Joint Committee made two new matching
grant awards: 1) 12386 SW Main St. (Cafe Allegro Building) and 2) Shawn Gardner Dance
Studio. Unfortunately,the purchase of the Main Street property is will not be moving
forward but work at the dance studio project is underway. These projects continue to
revitalize the Downtown district and draw more people into the city center.
Goal 2. Tigard Triangle: Participate in the development of the Tigard Triangle
Equitable Urban Renewal Implementation Project.
Outcomes
As part of the Tigard Triangle strategy,the TCAC continues to advocate for the acquisition
of land for parks and other infrastructure requirements. In March,we received a briefing
on the Parks Master Plan with an emphasis on requirements for our urban renewal
districts.
In September,we heard from Lori Faha, City Engineer, on the Tigard Triangle Natural
Resources and Hydrology. It is critical that we preserve and improve Red Rock Creek both
from a storm water management perspective and as part of Tigard's network of nature
trails.
We were also briefed on A New Tigard Triangle Phase 2 and SW 72nd Ave plans.
Goal 3. SW Corridor: Consider, investigate and recommend specific planning
components associated with the adopted SW Corridor alignment and station
locations in both downtown and the Triangle.
Outcomes
Throughout the year,the TCAC as received briefings on the SW Corridor project from
TriMet and Metro. Our biggest concern is the design of pedestrian crossings and transit-
oriented design (TOD).
In August,we sent a letter to TriMet outlining our concerns:
• Maximizing TOD opportunities in the Triangle and on Hall Blvd
• Integration of the Hall Blvd. station with downtown Tigard
• Replacement of jobs lost due to the location of the Hall Blvd station and Operations
and Maintenance Facility (OMF)
TriMet responded to our letter and presented at our October meeting. We will continue to
work with them to address ongoing concerns on transit-oriented design of the Tigard
stations ,when design of the project starts up again.
Goal 4.Affordable Housing: Recommend specific programs and policies to City staff
and Council that directly affect, support and encourage the development and
preservation of affordable housing downtown and in the Triangle.
Outcomes
Affordable housing is a key priority for the TCAC and we are excited by the number of
projects currently planned or under construction.
• The Alongside Senior Center affordable senior housing project received Metro
Housing Bond funding in September and groundbreaking is planned for 2023
• CPAH's Red Rock Creek Commons construction is complete and they are in the
process of leasing. TCDA funds will also fund pre-development assistance to CPAH
for potential new affordable project off Hwy99W
• The New Tigard Triangle: Planning for Equitable Development Project ranks
affordable housing as a priority in the near term (next 5 years). The FY 20-21 TCDA
Budget includes $1 million in affordable housing development assistance for the
Triangle
• In the Triangle there is currently one affordable project in lease-up, one under
construction, one in planning review, and one in pre-planning.
Goal 5. Equitable Business Development: Recommend specific programs and
policies to City staff and Council that directly affect, support and encourage equitable
business development downtown and in the Triangle.
Outcomes
Business and development assistance ranked as a near term priority in the New Tigard
Triangle report. Business and development assistance program development with a focus
on equity will be a part of Phase 2 of the project.
The FY 20-21 TCDA Budget includes a $75K Equitable Opportunities Fund allocation in the
City Center TIF District. The New Tigard Triangle project includes a memo on Business
Assistance with a discussion of equitable business development.
Citywide, Economic Development staff has extensively engaged with Microenterprise
Services of Oregon (MESO) and Adelante Mujares on equitable business development.
On behalf of the Town Center Advisory Commission,
YN a3Z-91 fi
.22�� 4i
Kate Rogers Tom Murphy
Chair,TCAC Vice Chair,TCAC
Recom men dat I on s for Town Center Deveiopment Agency Consideradon
Background;
The Town Center Advisory Corr mission (TikAQ is charged with advising the Town Center
Development Agency (TC DA) on policy and projects related to the City renter Urban
Renewal plan and the Tigard Triangle Urban Renewal plan.The commission is charged
with producing an annual report and recommendations for the TCDA`s consideration.
2021 Recommendations
• Mass Transit - the SW Corridor proiect was a focus fDr the TCAC in 2020 and we
were disappointed to see the fund Ing measure defeated, However, we view this
pro)ea as critical to the urban renewals districts and hope to see future progress.
o Encourage Mietro and Triplet to continue to explore ways of funding the SW
Corridor
u Work with Mletro and TdMet to ensure mass transit is available and supports
walkability and connectivity between the Tigard Triangle and Down town
Tigard
• Continue to explore ways to finance a bike and pedestrian crossing over Highway
217 to provide connectivity between the two districts
• Implement A New Tigard Triangle: Equitable Urban Renewal Implementation
Strategy Plan.-
Conti n U e
lan:ContinUe to partner with developers and other agencies to increase Ute
supply of affordable housing units
o Laud in the Tigard Triangle is going to become increasingly expensive and
difficult to acquire, so we would like to see land acquisition prioritized in the
implementation plan especially for parks including pocket parks
o Prioritize the rehabilitation of Red mock Creek for trails and storm water
management
• Develop opportunities For equitable lousiness development in Downtown Tigard and
Triangle through urban renewal funding and other funding sources such as grants.