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CCDA Resolution No. 05-01 CITY CENTER DEVELOPMENT AGENCY CITY OF TIGARD, OREGON RESOLUTION NO. 05- 01 A RESOLUTION PROPOSING AN URBAN RENEWAL PLAN AND REFERRING THE PROPOSED URBAN RENEWAL PLAN AND REPORT TO THE PLANNING COMMISSION, DIRECTING DISTRIBUTION OF THE URBAN RENEWAL PLAN AND REPORT TO TAXING DISTRICTS, AND DELEGATING AUTHORITY TO THE AGENCY MANAGER WHEREAS, the City Center Development Agency acts as the City's urban renewal agency; and WHEREAS, the City Center Advisory Commission was appointed to provide citizen involvement in preparation of an urban renewal plan for Tigard's Downtown area; WHEREAS,the City Center Advisory Commission, after public hearings and considerable public input has, with the assistance of the City's consultants,prepared and approved a proposed Urban Renewal Plan and Report, which is attached hereto as Exhibits A and B respectively; and WHEREAS,the City Center Development Agency has reviewed and considered the proposed Urban Renewal Plan and Report approved by the City Center Advisory Coimnission; and WHEREAS, state statutes require that, after an urban renewal agency prepares an urban renewal plan, that it be reviewed by the Planning Commission, which will make a recommendation to City Council; and WHEREAS, state statutes also require that taxing districts which may be affected by urban renewal plans may review such plans and meet with the urban renewal agency that proposes the plan, NOW, THEREFORE,BE IT RESOLVED by the City Center Development Agency, that: SECTION 1: The City Center Development Agency proposes adoption of the Urban Renewal Plan, based on the Report(Exhibits A and B). The proposed Urban Renewal Plan and Report are referred to the Planning Commission so that it may make its recommendation to the City Council SECTION 2: Copies of the proposed Urban Renewal Plan and Report shall be provided to each taxing district that imposes a property tax on properties withii the urban renewal area in the proposed urban renewal plan. SECTION 3: •The City Center Development Agency delegates authority to the Agency Manager to act for the City Center Development Agency in fulfilling the meeting requirements of ORS 457.437. The Agency Manager may fi -ther delegate this authority. CODA Resolution No. 05- ®I Page I I SEcnON 4: This resolution is effective iimnediately upon passage. PASSED: Thus lg day of Ctf LQI-� 2005. Chair- Ci of Tigard City Center Development Agency ATTEST: Recorder-City of Tigard City C&&r Development Agency lAadmlpacket'005101 e11 o-11-o5 urban renewal plan and report attachment Uoc CCDA Resolution No.05- Ot Page 2 EXHIBIT A DRAFT CITY CENTER URBAN RENEWAL PLAN October 10, 2005 Tashman Johnson LLC Cascade Economic Planning SERA Architects Urban Land Economics Jeannette Launer, Attorney LIST OF PARTICIPANTS City Center Advisory Committee Members Jim Andrews Carolyn Barkley Gretchen Buehner Alexander Craghead Suzanne Gallagher Alice Ellis Gaut Marland Henderson Ralph Hughes Lily Lilly Mike Marr Judy Munro Roger Potthoff Mike Stevenson Carl Switzer City of Tigard Staff James Hendryx,Community Development Director Tom Coffee, Interim Community Development Director Barbara Shields,Long Range Planning Manager Duane Roberts,Associate Planner Consultants Jeffrey Tashman,Tashman Johnson LLC Tina Mosca,Cascade Economic Planning Matt Arnold, SERA Architects Nancy Guitteau,Urban Land Economics Jeannette Launer,Attorney 4 TABLE OF CONTENTS LIntroduction....................................................................................................................................1 II. Goals and Objectives......................................................................................................................1 III. Map and Legal Description of Urban Renewal Area..................................................................4 N. Urban Renewal Projects. .................................................................................................. ...5 A. Street Improvements..................................................................................................................5 B. Streetscaa Improvements.................. p p .................................................................:.....................6 C. Bike/Pedestrian Facilities................................................................................................... ...9 D. Parks................................................................................ ...................................................11. E. Public Spaces........................................................................................ ..................................11 F. Public Facilities.......................................................................................................................13 G. Planning and Development Assistance...................................................................................15 V. Relationship to Local Objectives.................................................................................................16 A. City of Tigard Community Development Code......................................................................17 B. Tigard Comprehensive Plan Goals and Policies.....................................................................17 C. Transportation System Plan Goals and Policies......................................................................23 D. City of Tigard Park System Master PIan.................................................................................25 E. Tigard Downtown Improvement PIan.....................................................................................26 VI. Proposed Land Uses.....................................................................................................................26 A. Central Business District.........................................................................................................26 B. General Commercial...............................................................................................................27 C. Professional Commercial........................................................................................................27 D. Mixed Use Employment..........................................................................................................27 E. R-4.5 Low-Density Residential District..................................................................................28 F. R-12 Medium-Density Residential District...............................................................:.:...........28 G. R-24 Medium High-Density Residential District....................................................................28 VILProperty Acquisition and Disposition.........................................................................................29 A. Property Acquisition—From Willing Sellers..........................................................................29 B. Land Disposition.....................................................................................................................29 I VIII. Relocation Methods......................................................................................................................30 DLTax Increment Financing of Plan................................................................................................30 A. General Description of the Proposed Financing Methods........................................................30 B. Tax Increment Financing and Maximum Indebtedness..........................................................30 C. Prior Indebtedness........ ............................................ . ....................................................31 D. Impact of Tax Increment Financing on Public Schools..........................................................31 X. Duration of Plan....:......................................................................................................................31 XI. Future Amendments to Plan........................................................................................................31 A. Substantial Amendments.........................................................................................................31 B. Council Approved Amendments.............................................................................................32 C. Minor Amendments.................................................................................................................32 D. Amendments to the City of Tigard Comprehensive Plan and/or Development Code.............32 6 DRAFT CITY CENTER URBAN RENEWAL PLAN I. INTRODUCTION The City Center Urban Renewal Plan(the"Plan")contains goals,objectives and projects for the revitalization of the City Center Urban Renewal Area(the"Area"). The Area, shown in Figure 1, is predominantly zoned for commercial use,encompassing lands in Tigard's Central Business District, General Commercial District,Professional Commercial District and Mixed Use - Employment District. In addition to commercial lands,residential property on the east side of Hall Boulevard and adjacent to Fanno Creek is located within the R-4.5 Low-Density Residential District, R-12 Medium-Density Residential District and R-25 Medium High-Density Residential District. Under existing conditions,the Area is underdeveloped and lacks the mix of high quality commercial,office,residential and public uses suitable for the City's Central Business District. Information regarding conditions in the Area is-provided in the Report accompanying the Plan (the"Report'). The purpose of the Plan is to use the tools provided by urban renewal to attract private investment and facilitate the Area's redevelopment. These tools include tax increment financing (see Section IX);which generally means that the property taxes resulting from growth in property value within the Area can be used to finance improvement projects and programs. Urban renewal also allows for the purchase and sale of land from willing sellers for redevelopment as part of a public/private development partnership. The Plan is administered by the City Center Development Agency("Agency")which was established by the City Council of the City of Tigard as the City's Urban Renewal Agency. The Plan may be changed in the future, under the provisions of Chapter XI. The Plan has a duration of 20 years(see Chapter X), meaning that no new debt will be incurred after Fiscal Year 202512026. The maximumamount of indebtedness(amount of tax increment financing for projects and programs)that may be issued for the Plan is Twenty-Two Million Dollars and No Cents($22,000,000). H. GOALS AND OBJECTIVES The goals of the Plan represent its basic purposes. The objectives for each goal generally illustrate how the goals are to be achieved. The urban renewal projects called for in Chapter IV of the Plan are the specific means of meeting the objectives. Goal 1: Revitalization of the Downtown should recognize the value of natural resources as amenities and as contributing to the special sense of place. Obiectives: IA: Integrate open space and landscaping elements into the design and development of public improvement projects identified in the Plan to create a livable environment and provide opportunities for multimodal recreational use. City of Tigard 1 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN 1B: Minimize the impact of public improvements and facilities projects on the natural environment through the integration of appropriate protective measures and mitigation strategies. Goal 2: Capitalize on Commuter Rail and Fanno Creep as catalysts for future investment and development. Objectives: 2A: Support the development of transit-oriented residential,commercial, employment and recreational uses in the Central Business District that will benefit from and support commuter rail. 213: Implement pedestrian and bicycle system improvements that will enhance connectivity between downtown and surrounding residential and commercial areas. Goal 3: Downtown's transportation system should be multi-modal, connecting people,places and activities safely and conveniently. Obiectives: 3A: Design and construct street improvements as consistent with the Tigard Downtown Improvement Plan and the Tigard Transportation System Plan. 313: Concurrent with proposed street improvements,and in conformance with the Tigard Transportation System Plan (TSP),provide bike lanes, sidewalks,pedestrian crossings and other pedestrian and bicycle facilities that promote multimodal usage,access and safety. Goal 4: Downtown's streetscape and public spaces should be pedestrian-friendly and not visually dominated by the automobile. Ob'e_l motives: 4A: Promote pedestrian oriented, human-scaled development in the Central Business District. 4B: Develop urban spaces that will provide active and passive recreational opportunities 0 for pedestrians and attract residents and visitors to downtown. 4C: Provide pedestrian-oriented streetscape improvements,including street trees, street furniture,planters and other landscape enhancements,that will create a safe and visually Appealing destination for pedestrians. City of Tigard 2 October 10,2005 DRAFT CITY CENTER URBAN.RENEWAL PLAN '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. 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 and the Tigard Comprehensive Plan. 5B: Support the transition of existing nonconforming businesses from downtown to more suitable locations within the City of Tigard. City of Tigard 3 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN III. MAP AND LEGAL DESCRIPTION OF URBAN RENEWAL AREA Figure 1. shows the urban renewal area boundaries. Exhibit A is a legal description of the Area. .. ... . Fv` {.. q. 17 a 77 t, -{- ✓X, x,1 ,4 ,•4 � Y �� . TiiSSS5 7 � a1 • � ,�„yam -''��:9K+t•-_ IF� ��Y� :��ej �: 7�0 rg Km rC r a Urbon Renewal Area Total Area:193.71 acres Taurl*1 Area:144.14 acres 4 A: ROW Area:49.57 acres Aggregate Total RMV: $It)9.365 720 9 121 lip Ciq Center"an Renewal Plan OP"°P^•�°o" ` "° „° K._. rJ.�� 75u.slo.�a Tigard.OR *[brw' ®.r000,.avao p :lYalo,ry+E Crrcnr+ Proposed Urban Renewd Ara* Figure 1:Tigard City Center Urban Renewal Area City of Tigard 4 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN IV. URBAN RENEWAL PROJECTS Urban renewal projects authorized by the Plan are described below and shown in Figures 2 to 7. 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. A. Street Improvements Street Improvements projects are designed to improve multimodal circulation and connectivity within downtown Tigard. The projects will also facilitate access between downtown and adjacent residential, commercial and employment areas. To create a pedestrian environment that encourages active uses such as shopping, entertainment and commercial business activity,utilities may be under-grounded concurrent with street improvements. 1. Ash Avenue Extension Scoffins to Bumham including RR Crossing This project will extend Ash Avenue,a minor collector, from Burnham Street to Commercial Street. A new railroad crossing will be developed as part of the project. 2. Scoffins Street/Ha11 Boulevard/Hunziker Re-Alignment This project will improve multimodal circulation and safety. Currently, Scoffins Street and Hunziker are poorly aligned, which increases congestion and slows traffic at this three-way intersection. 3. Hall B1vdIHi hway 99W Intersection Improvements Key components of this project may include the widening of the Hall BoulevardiHighway 99W intersection and the acquisition of additional public right-of-way. The project is intended to improve multimodal circulation and safety and reduce congestion at this major intersection, which serves as an important gateway to downtown. 4. Greenburg Road/Highway 99W Intersection Improvements. The City has recently commissioned a study that will determine what improvements will be needed to reduce congestion and increase multimodal circulation at the intersection of Greenburg Road and Highway 99W. Tax increment revenues may be used to finance recommended intersection improvements. 5. Burnham Street Improvements This project provides for the reconstruction and widening of Burnham Street. 6. Center Street Improvements This project provided for upgrades and improvements to Center Street. City of Tigard 5 October 10, 2005 DRAFT CITY CENTER URBAN RENEWAL PLAN ..... _ � , L � q,� `"v'�.•tiQ..ter ''� .1�r'�y � },r# 4 ': ifs �iv � o N r - ♦�� { A f� ��-'1 J T'A`I' ��Y � _ ., J 5 � � S �� 1 ��1 � Y 4$y �.�M��•Y".•�111N1��^V�CtS 5- � � v'4{� ,f�y4'� ^�, -�l F h �� V Ash Avenue Edern3onM-i y� ScoBlra/Hdl I HurLZ%er Rearignrnens Ho11/4M inTemedlon tnprareMSMs -� F_ J *i a O GreerkxrQ/99W ktersection Impro"rnerds i 5 8umham 51r9e1 171povemeMs - - ��'��1�r45�°,;y,� Centerstreef improvements �'°" u" City Center Urban RenewalPlon Proposed Udxm Renewd Areo SIE Cdy Hall ` WIRA lsnns— Trgar4 4R Trmstl Carder h,.Val Oip Wa T jGuirtranSheetlmprovemetd Projects :part Figure 2: Urban Renewal Street Improvement Projects City of Tigard 6 October 10, 2005 DRAFT CITY CENTER URBAN RENEWAL PLAN B. Streetscape Improvements The Tigard Downtown Improvement Plan identifies landscaping features,street trees and street furniture as improvements that will enhance the physical appearance of downtown and attract a broader range of users, including shoppers,tourists and commercial employers. The Urban Renewal Plan provides for streetscape improvements on the following streets in the downtown area: 1. Main Street 2. -Burnham Street •3. Commercial Street 4. Ash Avenue 5. Scoff ns Road 6. Center Street City of Tigard 7 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN 21 0. 3".'' �^��, i ,\'r'r�, � � ♦ Syn .� �. 7`` r f#3�` _ 'f �f f : 1$ ! r N �.$ifet�f.OPf YSrplwMnfnl TMj�Ch r 1 f q S � i . E 15 C 14 f W j . BurMorn SkaeT Commerciai SrreeT Ash Avenue ScdBrnRoat! OMAIIA Center Shee! a r2 ma. 7m OMPAA. # .d- .mak . �:.-�...•.._. �.�..- City Center Urban Renewal Plan 10 froaosed urban Renewal Area Ciir htdf S-RA T-M-- rtg-d,OR G Trcrwi Carder �,,TraR 9y'ar�ry� tm>, SheelscapelmpovemeMProjechg@ rbtOfv —Park Figure 3: Urban Renewal Streetscape Improvement Projects City of Tigard 8 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN C. Bike/Pedestrian Facilities Bike/Pedestrian Facilities are designed to facilitate safe and convenient multimodal access throughout the Urban Renewal Area. L Commuter Rail Access This project will provide pedestrian access to the proposed downtown Tigard commuter rail station from Burnham Street. 2. Hall Blvd. This project will increase pedestrian access and safety by eliminating gaps in the sidewalk on the east side of Hall Boulevard and repairing sidewalks and curbs on both sides of Hall as needed. 3. Scoffins Street This project calls for the installation of bike lanes and sidewalks on Scoffins Street,which currently lacks pedestrian and bicycle facilities. 4. Tigard Street This project will provide a new bike lane on the south side of Tigard Street and upgrade the existing bike lane on the north side to standard. 5. Highway 99W Currently,gaps in the sidewalks along Highway 99W threaten pedestrian safety. This project provides for the installation contiguous sidewalks on both sides of Highway 99W and a grade-separated bicycle/pedestrian crossing at Greenburg Road. 6. Center Street This project will provide sidewalks and bike lanes on Center Street. 7. Enhanced Pedestrian Bridge over Fanno Creek Connecting to Ash Avenue This project will facilitate access between residential neighborhoods west of Fanno Creek and downtown. The project will be designed to minimize impacts to sensitive areas and preserve wetlands buffers. 8. Conversion of Existing North Rail Corridor into a Multi-use Pedestrian Trail This project will convert the existing north rail corridor into a multi-use_ pedestrian trail that will increase pedestrian access and provide new recreational opportunities for residents,workers and visitors to downtown. Key components ofthe.project may include bio-swales,native vegetation, pervious pavement and low impact stormwater conveyance/treatment features that will distinguish downtown Tigard from other communities by promoting sustainable development. City of Tigard 9 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN 9. Tigard Street/Grant Bicycle/Pedestrian Crossing The Plan will support the design and construction of a new at-grade bicycle/pedestrian crossing that will extend from the intersection of Tigard Street and Grant Street(south of the railroad)to the north side of the railroad tracks. The crossing will facilitate circulation and access to downtown by non-motorized vehicles.Automobiles and other motorized vehicles will be prohibited. Z4 Y 14 1 S- �szr �r✓h l - N '� ° 4S c((a.7�n�.axe►.ala.. atre��.. T- VI twt/W Petllnara+evweh 3 seo!lnt se.M614..d„+v—+n I:k - � Patl lrbpe Over�annv f eat � ��. - - Ndeeo2Caf10M retl]mi •. � '! va `�y+':.':. '� eno s1 r.b ■'�^�• ^= CilyCenter Urban Renewal Plan QA:oaesaaunea,eenarwwrea *C tH.A W,-RA 12-CLOR �� rh'seryN fJ�itrrau "d.and r�d.M.ft4&dl -s.vat Figure 4: Urban Renewal Bicycle/Pedestrian Projects City of Tigard 10 October 10,2005 DRAFT CI'T'Y CENTER URBAN RENEWAL PLAN D. Parks 1. Fanno Creek Park Improvements The Plan will facilitate upgrades and improvements to Fanno Creek Park as well as the preservation and restoration of environmentally sensitive areas. 2. Skateboard Park This project will support the construction of anew skateboard park. The proposed location of the skateboard park is the City Hall parking lot. L M. ' ° u ' _1714 Of �IK71 eL U. yr 4 h 0.►QYiwy.iswnMl�il ia. f��7a ® ramPCieet va.r t„pio.e.rie�ri i dWw `x`N'7 "" - - T � P ice•^ � .'Al Ip AP1(bPPrE YOl1 .. 11 ' ••..•^. City CenW Urtron Renewof Poen QPlopd Ux pene...ni Ai cayNm Lb.." 'Xd+ryE y'■�uptrau ruklrr�prov+m�� y"vat Figure 5:Urban Renewal Parks Projects City of Tigard 11 October 10,,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN E. Public Spaces I. Green Corridor/Urban Creels This Plan will support the development a green corridor/urban creek that will extend from the intersection of Highway 99W and Hall Boulevard through downtown and to Fanno Creek. Key components of the project may include bio-swales, native vegetation, pervious pavement and other low impact stormwater conveyance/treatment.features. 2. Plazas Tax increment revenues may be used to facilitate the design and construction of public plazas that will serve as public gathering spaces, encouraging a broader range of active and passive recreational uses in downtown and attracting more residents and visitors to the area. 3. Urban Green Spaces Similar to the plazas projects,this project will increase the overall livability and attraction of the downtown area by providing high quality, urban green spaces suitable for a range of recreational uses. Urban green spaces will be designed to promote the preservation and restoration of environmentally sensitive areas. 4. Public Market This project will facilitate the design and development a public market in the proposed public use area near Fanno Creek. City of Tigard 12 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN sr Ir r T I 1 . { � r, d QA- 541 y i t z W✓ � 4 � r � r ! � t - q I 1W t E Mbit Speae YnpnremeWr Green Corridor 1 Urban Creek mcm pad Loca4ons TBD) ibr {' Urban Green Spaces{E cc1 Wcaiions TBD) s i Tom' � Public headcef)Tasact Locairon TBD] Center Urban Renewal Plan 10 Proposed Urt om Renews Area *CVV HW W-MA T-1— r'22rd'OR V Tranll Center Trail erwav aruy rGrrran public Space Improvamasds ® ory Park Figure 6: Urban Renewal Public Spaces Projects City of Tigard 13 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN F. Public Facilities The Plan includes the following public facilities. Prior to the expenditure of tax increment revenues for any of these projects,the Agency will be required to adopt a Minor Amendment to the Plan(as provided in Section XJ)stating the proportion of the benefits of these facilities that will accrue to the Area and finding that the amount of the expenditure is proportional to the amount of benefit to the Area. Design and development will be a part of all proposed public facilities projects identified in the Plan. 1. Performing Arts Center This project consists of the design and construction of a performing arts center in downtown Tigard. The project,which is recommended in the Tigard Downtown Improvement Plan,will provide new entertainment and recreation opportunities that will attract residents and out-of-town visitors to downtown. 2. Public Parking Facilities 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. 3. Public Market Area This project includes the development of a public market area in the proposed public use area near Fanno Creek. 4. Post Office Relocation This project will facilitate the possible relocation of the existing downtown post office. 5. Public Restrooms ` This project will provide public restrooms in public gathering spaces. City of Tigard 14 October 10, 2005 DRAFT CITY CENTER URBAN RENEWAL PLAN 41.1 11 SIL T . iT y ti, 3 4� F 4 � y ,� ti 31tie. WTI W. y� f i3 Pertdmrirtq Ads Center n PubNtppk'r>af-acAliM . Pa W.M,,fkel Arca IErMact LOCarl0.1 Tlit)l tr _ Poss Orfica RelocaYbn � f�'`�'i n ri1 yr r pLbo.ReflrMn5 iExacl lacclkn T9D1 a 126 0 770 fly C Center Urban Renewal PlarT d Pmpmed Urt o Rerwwci Areo 1JE CMV tkO �,_._-..._.,...�.. r� LQard,OR ®TrrnsN Cerner +�ira9 S� rid atm - ®linrary •�"-Waterw4y +J/.NCJ 1;!gvinedm ftbft FOC W'++rFw�n Figure 7:Urban Renewal Public Facilities Projects City of Tigard 15 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN G. Planning and Development Assistance Detailed rules and regulations for the administration of financial and technical assistance programs will be established by the Agency after adoption of the Plan in order to ensure that urban renewal funds are used properly and for the agreed upon purposes. The adoption and amendment of such programs,rules and regulations would not be considered changes to the Plan. 1. Rehabilitation/Redevelopment Grant/Loan Program The Urban Renewal Plan authorizes loans and/or grants for property rehabilitation and redevelopment. Property to be improved may be residential or commercial. Loans may be at or below market rates, and assistance can include direct loans or guarantees of loans made by third parties. 2. New Development Grant/Loan Program In addition to providing rehabilitation and redevelopment assistance,the Urban Renewal PIan authorizes loans and/or grants for new development. Property to be improved may be residential or commercial. Loans may be at or below market rates,and assistance can include direct loans or guarantees of loans made by third parties. 3. Technical Assistance Pro am The Urban Renewal Plan provides for technical assistance in the form of site studies,market studies, feasibility analyses,engineering and design and other activities directly related to development of property in the urban renewal area. Examples of such technical assistance may include structural analysis of downtown building to promote rehabilitation of underutilized buildings and relocation strategies for existing downtown businesses seeking to move to an alternative site within the urban renewal area. 4. Commercial Fagade Improvement Loans To create a distinct identity for downtown Tigard that is visually appealing and unified,the Urban Renewal Plan authorizes fagade improvement loans for commercial development. Improvements will be used to enhance the architectural integrity and character of historic commercial buildings and storefronts in need of a"face lift." V. RELATIONSHIP TO LOCAL OBJECTIVES The Plan addresses local planning and development objectives contained in the City's Comprehensive Plan,Development Code,Transportation System Plan,Park System Master Plan and the Tigard Downtown Improvement Plan. Adopted in 1982 and last revised in January 2005,the Comprehensive Plan identifies goals and policy objectives that will promote growth that is both sustainable and supportive of the community's desire to maintain high livability City of Tigard 16 October 10, 2005 DRAFT CITY CENTER URBAN RENEWAL PLAN standards. The City's Development Code is updated on an ongoing basis and the TSP was adopted in January 2002. The Park System Master Plan was adopted in July 1999. Under the guidance of local residents,business owners and other community stakeholders,the City has undertaken the development of a long range development plan for downtown Tigard. The Tigard Downtown Improvement Plan will provide along range planning strategy for development in downtown Tigard. 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 and industrial zoning districts. According to the City's Development Code,the purpose of commercial zoning districts is to provide a comprehensive range of commercial services---including retail and office uses—that are conveniently accessible to motorists,bicyclists and pedestrians and designed to minimize potential adverse impacts on surrounding residential neighborhoods. Further,in compliance with the City of Tigard Comprehensive Plan,the commercial zoning districts are intended to provide a wide range of employment opportunities and economic benefits for local residents. The purpose of Tigard's industrial zoning districts is to provide a broad range of industrial services and jobs within the City of Tigard that are conveniently accessible to local residents. A detailed description of commercial 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 Central Business District, General Commercial,Professional Commercial and Mixed Use Employment Districts as well as the R4.5 Low-Density Residential District,R-12 Medium-Density Residential District and R-25 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 The Tigard Comprehensive Plan identifies goals and policies that address the City of Tigard's long range planning and development objectives. Of particular relevance to the Plan are goals and policy directives contained in the Natural Features and Open Space, Economy,Housing,Transportation and Special Areas of Concern sections. Natural Features and Open Space The Comprehensive Plan identifies policies intended to preserve and enhance the City's natural areas, including wildlife habitat areas,wetlands sites and other environmentally sensitive areas. Further,natural features and open space policies call for the development of an adequate system of open space,recreation lands and facilities to maintain and City of Tigard 17 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN improve community livability and the preservation and enhancement of historically and culturally significant resources. Natural Areas policies supported by the Plan include: Policy 3.4.2 The City Shall: a. Protect fish and wildlife habitat along stream corridors by managing the riparian habitat and controlling erosion, and by requiring that areas of standing trees and natural vegetation along natural drainage courses and waterways be maintained to the maximum extent possible. Policy 3.5.1 The City shall encourage private enterprise and intergovernmental agreements which will provide for open space,recreation lands,facilities, and preserve natural, scenic and historic areas in a manner consistent with the availability of resources. Polices 3.5.3 The City has designated the 100-Year Floodplain of Fanno Creek, its tributaries, and the Tualatin River as Greenway,which will be the backbone of the open space system. Where Landfill and/or development are allowed within or adjacent to the 100-Year Floodplain,the City shall require the consideration of dedication of sufficient open land area for greenway adjoining and within the floodplain. Policy 3.5.4 The City,shall provide an interconnected pedestrian/bike path throughout the City. Policy 3.7.1 The City shall identify and promote the preservation and protection of historically and culturally significant structure, site, objects and districts within Tigard. The Plan identifies Parks,Public Spaces and Bicycle/Pedestrian Facilities projects, including but not limited to the Fanno Park Improvements,Urban Creek/Green Corridor and Urban Green Spaces projects,which will further the Comprehensive Plan's Natural Areas policy objectives. In addition to preserving and upgrading existing parks and natural areas such as Fanno Creek Park,the Plan will facilitate the creation of"green" amenities and pedestrian/bicycle facilities that will provide new active and passive City of Tigard 18 October 10,2005 DRAFT CITYCENTER URBANRENEWAL PLAN recreational opportunities for residents, downtown workers and visitors and improve connectivity between downtown and adjacent neighborhoods. Economy The Comprehensive Plan identifies policies intended to diversify and improve Tigard's economic and employment base, including specific policies that address economic needs in the Central Business District. Economic policies supported by the Plan include: Polic 5.1 The City shall promote activities aimed at the diversification of the economic opportunities available to Tigard residents with particular emphasis placed on the growth of the local job market. Policy 5.3 The City shall improve and enhance the portions of the central business district as the focal point for commercial,high density residential,business, civic and professional activity creating a diversified and economically viable core area. One of the Plan's stated goals is to"Promote high quality development of retail,office and residential uses that support and are supported by public streetscape,transportation, recreation and open space investments."The Plan identifies intersection improvements, such as the Hall Blvd/99 W Intersection Improvements project,road widening and realignment projects and other street projects that will improve circulation and access in and around downtown. In addition,the Plan authorizes streetscape projects and pedestrian/bicycle improvements that will make downtown safer and more accessible to pedestrians and bicyclists by filling in gaps in the existing sidewalk system,providing new or upgraded bike lanes,and establishing new multiuse trails and pedestrian crossings. Finally,the Plan includes parks,public spaces and public facilities projects that will make downtown a more appealing place to do business and facilitate the transition of existing industrial and auto-oriented uses to locations outside of the Central Business District. Housing The Comprehensive Plan identifies the provision of high quality housing of varying densities,types and affordability levels as a critical long range planning goal. Tax increment revenues generated under the Plan may be used to fund development and technical assistance programs that will facilitate residential development that meets the diverse housing needs of Tigard's citizens,as prescribed below: City of Tigard 19 October 10,2005 DRAFT=CENTER URBAN RENEWAL PLAN Policy 6.1.1 The City shall provide an opportunity for a diversity of housing densities and residential types at various prices and rent levels. In addition to financing the programs described in Section IV,the Plan includes public improvements projects that will make the Area a more attractive and viable location for new, high quality medium- and high-density residential development in downtown Tigard. Transportation The Comprehensive Plan identifies policies that are designed to provide safe and efficient multimodal circulation and access within downtown Tigard and between downtown and adjacent neighborhoods. Transportation policies supported by the Plan inolude: Policy 8.1.1 Plan,design and construct transportation facilities in a manner which enhances the livability of Tigard by: a. Proper location and design of transportation facilities; and b. Encouraging pedestrian accessibility by providing safe, secure and desirable pedestrian routes. Policy 8.1.2 Provide a balanced transportation system, incorporating all modes of transportation(including motor vehicle,bicycle,pedestrian,transit and other modes)by: a. The development of and implementation of public street standards that recognize the multi-purpose nature of the street right-of-way for utility, pedestrian,bicycle,transit,truck and auto use; b. Coordination with Tri-met,and/or any other transit providers serving Tigard, to improve transit service to Tigard. Fixed route transit will primarily use arterial and collector streets in Tigard.Development adjacent to transit routes will provide direct pedestrian accessibility; c. Construction of bicycle lanes on all arterials and collectors within Tigard consistent with the Bicycle Master Plan.All schools,parks,public facilities and retail areas shall strive to have direct access to a bikeway; d. Construction of sidewalks on all streets within Tigard.All schools,parks, public facilities and retail areas shall strive to have direct access to a sidewalk. e. Development of bicycle an pedestrian plans which link to recreational trails; City of Tigard 20 October 10, 2005 DRAFT=CENTER URBAN RENEWAL PLAN f. Design local streets to encourage a reduction in trip length by providing connectivity and limiting out-of-direction travel and provide connectivity to activity centers and destinations with a priority for bicycle and pedestrian connections;and h. Tigard will support the development of a commuter rail system as part of the regional transit network. Policy 8.1.3 Strive to achieve a safe transportation system by the development of street standards,access management policies and speed•controls when constructing streets,and by making street maintenance a priority and through a comprehensive- program of engineering, education and enforcement. b. Design safe and secure pedestrian and bikeways between parks and other activity centers in Tigard. Policy 8.1.5 Develop transportation facilities which are accessible to all members of the community and minimize out of direction travel by: a. The design and construction of transportation facilities to meet the requirements of the Americans with Disabilities Act;and b. The development of neighborhood and local connections to provide adequate circulation in and out of the neighborhoods. Policy 8.2.1 The City shall plan for a safe and efficient street and roadway system that meets current needs and anticipated future growth and development. Policy 813.1 The City shall coordinate with Tri-met to provide for a public transit system within the planning area which: a. Meets the needs of both the current and projected, for the Tigard community; b. Addresses the special needs of a transit dependent population; c. Reduces pollution and traffic; and d. Reduces energy.consumption. Policy 8.3.2 The city shall encourage the expansion and use of public transit by: City of Tigard 21 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN a. Locating land intensive uses in close proximity to transitways;and c. Supporting efforts by Tri-met and other groups to provide for the needs of the transportation disadvantaged. Policy 8.5.1 The City shall locate bicycle/pedestrian corridors in a manner which provides for pedestrian and bicycle users, safe and convenient movement in all parts of the City,by developing the pathway system shown on the adopted Pedestrian/Bikeway Plan. i In conjunction with proposed street improvements,the Plan provides for new bike lanes and sidewalks as well as upgrades to inadequate bicycle and pedestrian facilities. These projects will increase multimodal access and circulation throughout the Area. Further,to improve neighborhood livability and create a visually appealing streetscape environment that draws residents and visitors to downtown and promotes more active commercial, recreation and entertainment uses, landscape improvements, street trees, street furniture and other streetscape improvements are identified as key components of the Plan. Special Areas of Concern The Comprehensive Plan identifies downtown Tigard and the Central Business District as a Special.Area of Concern. Existing uses include a mix of older, substandard commercial and residential development,and industrial buildings that do not conform to the Comprehensive Plan's long term vision for downtown Tigard. To make downtown a more attractive destination for shopping, dining and a variety of entertainment and recreational activities,the Plan includes transportation, streetscape,public facilities and public spaces projects designed to create a visually distinct, unified character. The Plan also supports development and technical assistance programs designed to help local business and property owners rehabilitate and upgrade substandard buildings and create new quality development in downtown. The Plan supports the following Special Area of Concern policies: Policy 11.1.1 The redevelopment of downtown Tigard shall be accomplished in order to make it complementary to newer shopping areas. Convenience,appearance and the needs of the shopping public should be primary considerations. Policy 11.6.3 Require that all development permitted in Action Areas be designed to facilitate pedestrian movement within the center and to transit. City of Tigard 22 October 10,2005 DRAFT CI iTY CENTER URBAN RENEWAL PLAN Proposed pedestrian and bicycle improvements, such as the Commuter Rail Access and Tigard Street/Grant Pedestrian/Bicycle Crossing projects,will provide safe and convenient pedestrian access to local shops and transit. In addition, streetscape improvements along Main Street, Burnham Street, Commercial Street and other Area roadways will make downtown a more accommodating,pedestrian-oriented commercial district than it is today. Lastly,public facilities projects such as the Performing Arts Center and Public Market will generate support for new and existing businesses that provide entertainment and recreational options for downtown visitors. C. Transportation System Plan Goals and Policies Adopted in 2002,the TSP identifies goals and policy objectives intended to create a transportation system that enhances community livability and facilitates safe and convenient multimodal access to Tigard residents and visitors. The Plan's goals, objectives and transportation infrastructure projects directly address or correlate to planning needs identified in the TSP's goals and policies. Of particular relevance to the Plan are the following transportation system goals and policies, identified in Chapter 2 of the TSP: Goal l: Livability Plan, design and construct transportation facilities in a manner which enhances the livability of Tigard. Policy 2-Encourage pedestrian accessibility by providing safe, secure and desirable pedestrian routes. Goal 2: Balanced Transportation System Provide a balanced transportation system, incorporation all modes of transportation (including motor vehicle,bicycle,pedestrian,transit and other modes) Policy 1 -Develop and implement public street standards that recognize the multi-purpose nature of the street right-of-way for utility,pedestrian, bicycle, transit, truck and auto use. Policy 3-Bicycle lanes must be constructed on all arterials and collectors within Tigard consistent with the Bicycle Master Plan(with construction or reconstruction projects). All schools,parks,public facilities and retail areas shall have direct access to a bikeway. Policy 4 Sidewalks must be constructed on all streets within Tigard(with construction or reconstruction projects).All schools,parks,public facilities and retail areas shall have direct access to a sidewalk City of Tigard 23 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN Policy 6-Local streets shall he designed to encourage a reduction in trip length by providing connectivity and limiting out-of-direction travel. Provide connectivity to activity centers and destinations with a priority for bicycle and pedestrian connections. Policy 8- Tigard will support the development of a commuter rail system as part of the regional transit network. Goal 3: Safety Strive to achieve a safe transportation system by developing street standards, access management policies and speed controls when constructing streets,by making street maintenance a priority and through a comprehensive program of engineering,education and enforcement. Policy 3-Safe and secure pedestrian and bikeways shall be designed between parks and other activity centers in Tigard. Goal 5: Accessibility. Develop transportation facilities which are accessible to all members of the community and minimize out of direction travel. Policy I -Design and construct transportation facilities to meet the requirements of the Americans with Disabilities Act. Policy 2-Develop neighborhood and local connections to provide adequate circulation in and out of the neighborhoods. Goal 5: Goods Movement Provide for efficient movement of goods and services. Policy I -Design arterial routes, highway access and adjacent land uses in ways that facilitate the efficient movement of goods and services. 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 City of Tigard 24 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN Realignment and Highway 99W intersection improvements will reduce congestion and improve circulation while creating a safer environment for drivers,pedestrians and bicyclists. D. City of Tigard Park System Master Plan The City of Tigard Park System Master Plan is guided by the following vision: "Through building connections,the City of Tigard will provide a park system that: • Contributes to overall community livability and pride; • Balances the impacts of growth and increasing density with parks and greenspaces; • Reduces auto-dependency and enhances recreation opportunities by connecting recreation resources, community destinations, and neighborhoods with trails and greenways; • Fosters stewardship of natural resources such as floodplains and waterways; • Provides equitable distribution of parks and recreation opportunities throughout the City; • Provides safe and well-maintained parks and recreation facilities; and Provides for effective and economically sound management of public resources." Chapter Six Recommendations provides detailed recommendations for park facilities, maintenance,management, and recreation programs. Ofparticularrelevance to the Plan are the following Parks recommendations: "Renovate and expand existing parks to improve park condition, increase recreational opportunities,meet current safety requirements, and provide access for people with disabilities;" • "Provide an interconnected pedestrian and bicycle system that links Tigard's parks, greenspaces,neighborhoods,work places, schools, and commercial centers;" and • "Mitigate the effects of development by providing pocket parks/urban plazas in commercial areas." 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. City of Tigard 25 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN E. Tigard Downtown Improvement Plan The Tigard Downtown Improvement plan is guided by four primary objectives: "First and foremost,the TDIP seeks to carry out the City Council's goal to revitalize Downtown Tigard. Second,the TDIP is a downtown"improvement" plan,one that builds upon the good "bones"of the current Downtown area,and that builds upon the sound foundation of community-based planning to serve as the"master conceptual plan" for the area. Third,an overarching objective of the Plan is to ensure that Downtown Tigard will serve the community's stated future needs for an active,mixed use"urban village". Finally,the TDIP must meet the objectives of the Metro Functional Plan for a Town Center,as that plan designates Tigard's downtown area as a Town Center." The Tigard Downtown Improvement Plan provides a vision,design guidelines and a series of catalyst projects that will foster development that is compatible with the"urban village" concept. The Plan supports projects and programs that will facilitate the implementation of the prescribed catalyst projects,many of which are included in the Urban Renewal Projects and Programs section. VI. PROPOSED LAND USES 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. Currently, land in the Area is within the Central Business District(CBD), General Commercial (C-G), Professional Commercial (C-P),Mixed Use Employment(MUE), R-4.5 Low-Density Residential (R-4.5),R-12 Medium-Density Residential (R 12)and R-25 Medium High-Density Residential (R-25)zoning districts. The purpose of the districts is described in the Development Code as follows: A. Central Business District "The CBD zoning district is designed to provide a concentrated central business district; centered on the City's historic downtown, including a mix of civic,retail and office uses. Single-family attached housing,at a maximum density of 12 units/net acre, equivalent of the R-12 zoning district,and multi-family housing at a minimum density of 32 units/acre, equivalent to the R-40 zoning district, are permitted outright.A wide range of uses, including but not limited to adult entertainment,utilities, facilities with drive-up windows,medical centers, major event entertainment and gasoline stations, are permitted conditionally." Most development in the CBD is not subject to minimum setbacks.However,20 foot front,side and rear yard setbacks are required where a commercial use abuts a residential zoning district. A maximum site coverage of 85%and a minimum landscape requirement of 15%are required. With exception of buildings within 100 feet of any residential City of Tigard 26 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN zoning districts,where a 40 foot height restriction applies,a maximum height of 80 feet is prescribed for development in the CBD zone. B. General Commercial "The C-G zoning district is designed to accommodate a full range of retail, office and civic uses with a City-wide and even regional trade area. Except where non-conforming, residential uses are limited to single-family residences which are located on the same site as a permitted use. 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 permitted conditionally." Generally, development in the C-G zone is not subject to minimum setbacks. However, 20 foot side and rear yard setbacks are required where the zone abuts a residential zoning district. A maximum site coverage of 85%,minimum landscape requirement of 15%and maximum height limit of 45 feet are also prescribed. C. Professional Commercial "The C-P zoning district is designed to accommodate civic and business/professional services and compatible support services,e.g.,convenience retail and personal services, restaurants, in close proximity to residential areas and major transportation facilities. Within the Tigard Triangle and Bull Mountain Road District,residential uses at a minimum density of 32 units/net acre, i.e., equivalent to the R-40 zoning district, arc permitted in conjunction with a commercial development, Heliports,medical centers, religious institutions and utilities are permitted conditionally. Developments in the C-P zoning district are intended to serve as a buffer be0veen residential areas and more- intensive commercial and industrial areas." With the exception of property abutting a residential zoning district,where 20 foot side and rear yard setbacks are required,minimum setbacks are not required in the C-P Zone. A maximum site coverage of 85%, minimum landscape requirement of 15%and maximum height limit.of 45 feet are required of all development in the C-P zone. D. Mixed Use Employment "The MUE zoning district is designed to apply to a majority of the land within the Tigard Triangle,a regional mixed-use employment district bounded by Pacific Highway(Hwy. 99), Highway 217 and 1-5.This zoning district permits a wide range of uses including major retail goods and services,business/professional offices,civic-uses and housing;the latter includes multi-family housing at a maximum density of 25 units/acre, equivalent to the R-25 zoning district.A wide range of uses, including but not limited to community recreation facilities, religious institutions,medical centers, schools,utilities and transit- related park-and-ride lots,are permitted conditionally. Although it is recognized that the automobile will accommodate the vast majority of trips to and within the Triangle, it is City of Tigard 27 October 10, 2005 DRAFT CITY CENTER URBAN RENEWAL PLAN still important to l)support alternative modes of transportation to the greatest extent possible; and 2) encourage a mix of uses to facilitate intra-district pedestrian and transit trips even for those who drive.The zone may be applied elsewhere in the City through the legislative process While development in the MUE zone is generally not subject to minimum setbacks, 20 feet side and rear yard setbacks may be required where the zone abuts residential districts and a maximum front yard setback of 20 feet is required for all development.A minimum building height of 2 stories, maximum building height of 200 feet and maximum site coverage of 85%are also prescribed. E. R-4.5 Low-Density Residential District "The R-4.5 zoning district is designed to accommodate detached single-family homes with or without accessory residential units at a minimum lot size of 7,500 square feet. Duplexes and attached single-family units are permitted conditionally. Some civic and institutional uses are also permitted conditionally." The minimum lot size in the R-4.5 zone ranges from 7,500 square feet for detached housing units to 10,000 for duplexes. The average minimum lot width is 50 feet for detached unit lots and 90 feet for duplex lots. All residential development is subject to a maximum height of 30 feet and minimum setbacks of 20 feet(front yard), 5 feet(side yard)and 15 feet(rear yard). A minimum distance of 20 feet between a property line and the front of a garage is also required. The R-4.5 zone does not impose a minimum landscape requirement or lot coverage standard. F. R-12 Medium-Density Residential District "The R-12 zoning district is designed to accommodate a full range of housing types at a minimum lot size of 3,050 square feet.A wide range of civic and-institutional uses are also permitted conditionally." Multiple-family dwelling units in the R-12 zone are subject to minimum front and rear yard setbacks of 20 feet and a minimum side yard setback of 10 feet. Single-family dwelling units are subject to minimum front and rear yard setbacks of 14 feet and a minimum side yard setback of 5 feet. For both multiple-family and single-family dwelling units,a 30 foot setback is required for a side or rear yard abutting a more restrictive zoning district. A maximum building height of 35 feet, maximum lot coverage of 80%and minimum landscape requirement of 20%are also specified. G. R-24 Medium High-Density Residential District "The R-25 zoning district is designed to accommodate existing housing of all types and new attached single-family and multi-family housing units at a minimum lot size of 1,480 square feet. A Iimited amount of neighborhood commercial uses is permitted outright and a wide range of civic and institutional uses are permitted conditionally." City of Tigard 28 October 10, 2005 DRAFT CITY CENTER URBAN RENEWAL PLAN A minimum lot size of 3,050 square feet per unit for detached single-family dwelling units and 6,100 square feet or 3,050 square feet per unit for duplexes is required in the R- 25 zone. Multiple-family dwelling units are subject to minimum front and rear yard setbacks of 20 feet and a minimum side yard setback of 10 feet. Single-family dwelling units are subject to minimum front and rear yard setbacks of 14 feet and a minimum side yard setback of 5 feet. For both multiple-family and single-family dwelling units, a 30 foot setback is required for a side or rear-yard abutting a more restrictive zoning district. A maximum building height of 45 feet,maximum lot coverage of 80%and minimum landscape requirement of 20%are also specified. VII. PROPERTY ACQUISITION AND DISPOSITION. The Plan authorizes the acquisition and disposition of property as described in this section. Property includes any and all interests in property, including fee simple ownership, lease, easements, licenses or other rights to use. A. Property Acquisition—From Willing Sellers The Plan authorizes the acquisition of any interest in property within the Area, including fee simple interest,to support private redevelopment, only in those cases where the property owner wishes to convey such interests to the Agency. The Plan does not authorize use of the power of eminent domain to acquire property for private redevelopment. Property acquisition for those public improvements projects authorized in Section IV will be required. The Agency is not granted eminent domain authority under the Plan. Therefore, it is anticipated that if eminent domain authority is required,the acquisition will be undertaken by the City of Tigard or other public entity with existing authority for eminent domain. Property acquisition from willing sellers may be required to support development of retail,office,housing and mixed use projects within the Area. B. Land Dispositign The Agency may dispose of property acquired under the Plan by conveying any interest in property acquired pursuant to Subsection VII A. Property shall be conveyed at its fair reuse value,which a value determined by the urban renewal agency to be its fair reuse value,which represents the value,whether expressed in terms of rental or capital price,at which the urban renewal agency in its discretion determines such land should be made available in order that it maybe developed,redeveloped,cleared, conserved or rehabilitated for the purposes specified in'such plan. Property disposition may be required to support development of retail,office,housing and mixed use projects within the Area. City of Tigard 29 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL PLAN VIII. RELOCATION METHODS As described in Section VTI,the Plan authorizes the acquisition of property by willing sellers only. For this reason,the Plan does not require provisions for relocation assistance. However,the Plan does not preclude the Agency from offering relocation assistance to willing sellers when appropriate. IX. TAX INCREMENT FINANCING OF PLAN Tax increment financing consists of using annual tax increment revenues to make payments on loans,usually in the form of tax increment bonds. The proceeds of the bonds are used to finance the urban renewal projects authorized in the Plan. Bonds may be both long-term and short-ten-n. Tax increment revenues equal most of the annual property taxes imposed.on the cumulative increase in assessed value within an urban renewal area over the total assessed value at the time an urban renewal plan is adopted {Under current law,the property taxes for general obligation ("GO")bonds and local option levies approved after October d,2001 are not part of the tax increment revenues.) A. General Description of the Proposed Financing Methods The Plan will be financed using a combination of revenue sources. These include: • Tax increment revenues; • Advances, loans, grants and any other form of financial assistance from the Federal, State or local governments or other public body; • Loans,grants, dedications or other contributions from private developers and property owners;and • Any other source,public or private. Revenues obtained by the Agency will be used to pay or repay costs, expenses, advancements and indebtedness incurred in planning or undertaking project activities or otherwise exercising any of the powers granted by ORS Chapter 457 in connection with the implementation of this Plan. B. Tax Increment Financing and Maximum Indebtedness The Plan may be financed, in whole or in part,by tax increment revenues allocated to the Agency as provided in ORS Chapter 457. The ad valorem taxes; if any, levied by a taxing district in which all or a portion of the Area is located, shall be divided as provided in section le,Article 1X of the Oregon.Constitution,and ORS 457.440. Amounts collected pursuant to ORS 457.440 shall be deposited into the unsegregated tax collections account and distributed to the Commission based upon the distribution schedule established under ORS 311.390. City of Tigard 30 October 10,2005 DRAFT CITY CENTER URBAN RENEWAL 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 Two Million Dollars and No Cents ($22,000,000). This amount is the principal of such indebtedness and does not include interest or indebtedness incurred to refund or refinance existing indebtedness. C. Prion Indebtedness Any indebtedness permitted by law and incurred by the Agency or the City of Tigard in connection with the preparation of this Plan or prior planning efforts related to this Plan may be repaid from tax increment revenues from the Area when and if such funds are available. D. Impact of Tax Increment Financing on Public Schools This Plan has been adopted with consideration of information in the Report accompanying the Plan regarding the impact of tax increment financing on the K-12 Public School system. Under current law providing for substantial state funding of K-12 schools,the tax increment financing of this Plan has minimal impacts on the revenues received by the Tigard Tualatin School District. X. DURATION OF PLAN No new indebtedness may be incurred after twenty years from 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,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. XI. FUTURE AMENDMENTS TO PLAN The Charter of the City of Tigard(Section 47)requires that the City Council refer to Tigard voters the ordinance approving an urban renewal plan at a regular or special City election held in May or November. It further requires that amendments to an urban renewal plan that"would or could involve the levying of a tax on properties outside the urban renewal area to pay the debts or obligations to be incurred in carrying out the plan"must be similarly approved by Tigard voters(Section 48). Though the tax increment financing of the Plan does not involve levying of a tax,amendments that increase the maximum amount of indebtedness may increase the amount of tax increment revenues. For this reason, such amendment is classified as a Substantial Amendment Requiring Voter Approval,as discussed in this section. A. Substantial Amendments Requiring Voter Approval Substantial amendments requiring voter approval consist of increasing the maximum amount of indebtedness. Such amendment shall require approval by non-emergency ordinance and then referred to Tigard voters for approval. City of Tigard 31 October 10, 2005 DRAFT CITY CENTER URBAN RENEWAL PLAN B. Substantial Amendments Not Requiring Voter Approval Substantial Amendments Not Requiring Voter Approval consist of adding land to the urban renewal area that totals more than 1%of the original plan area. Substantial Amendments as described under Subsections XI A and B require the same notice,hearing and approval procedure required of the original urban renewal plan, including public involvement, consultation with taxing districts,presentation to the Planning Commission, special notice to Tigard households of a hearing by the City Council on the ordinance adopting the Substantial Amendment and.adoption of the Amendment by non emergency ordinance. C. Council Approved Amendments Council-Approved Amendments consist solely of the following amendments: • Material changes to the goals an&objectives of the Plan. • Addition or expansion of a project that adds a cost in 2005 dollars of more than $500,000 and is materially different from projects previously authorize_ d in the Plan. • Extending the duration of the Plan. Council-Approved amendments require approval by the Agency by resolution and by City Council,which may approve the amendment by resolution. D. Minor Amendments Minor Amendments are amendments that are neither Substantial Amendments nor Council-Approved amendments. They require approval by the Agency by resolution. E. Amendments to the City of Tigard Comprehensive Plan and/or Development Code Amendments to the City of Tigard Comprehensive Plan and/or Development Code that affect the Urban Renewal Plan and/or the Urban Renewal Area do not require:approval by the Agency or City Council. City of Tigard 32 October 10,2005 EXHIBIT B DRAFT REPORT ACCOMPANYING THE DRAFT CITY CENTER URBAN RENEWAL PLAN f October 15, 2005 Tashman Johnson LLC Cascade Economic Planning SERA Architects Urban Land Economics Jeannette Launer,Attorney LIST OF PARTICIPANTS City Center Advisory Committee Members Jun Andrews Carolyn Barkley Gretchen Buehner Alexander Craghead Suzanne Gallagher Alice Ellis Gaut Marland Henderson Ralph Hughes Lily Lilly Mike Marr Judy Munro Roger Potthoff Mike Stevenson Carl Switzer City of Tigard Staff James Hendryx, Community Development Director Tom Coffee,Interim Community Development Director Barbara Shields, Long Range Planning Manager Duane Roberts,Associate Planner Consultants Jeffrey Tashman,Tashman Johnson LLc Tina Mosca, Cascade Economic Planning Matt Arnold, SERA Architects Nancy Guitteau, Urban Land Economics Jeannette Laurer,Attorney TABLE OF CONTENTS INTRODUCTION.......................... . L C CONDITIONS AND DIPACT ON EXISTING PHYSICAL AND ECONOMI ..,,,,,,,5 ¢ MUNICIPAL SERVICES..................................... ...........................................................5 CONDITIONS........................................ PHYSICAL A. ..................................................9 B. INFRA IONS CONDI ONS...... ............................................................................ 11 SOCI C. ECONOMIC CONDITIONS ........................................................ ...............................................14 D. SERVICES ................................... E. IMPACT ON MUNICIPAL ............................. FLAN III. REASONS FOR SELECTION OF EACH URBAN RENEWAL AREA ANDSIZE OF IV, I,IANCE WrM STATUTORY I,IlVI SON ASSESSED VALUE .......15 IV. COMP ....................................... ................................ URBAN RENEWAL AREA.......................... BETWEEN URBAN RENEWAL PROJECTS AND THE .......16 V. THE RELAl'IONSE" URBAN RENEWAL AREA................................... EXISTING CONDITIONS IN THE . .... ..........16 A. TREET TS SCAN ..................... B TREETSPEIMPRDVE ..... . .................................................................................18 C. BIIWPEDESTRIAN FACILTTIES.... ........................................ ......20 . PARKS 20 E. PUBLIC SPACES..................... ............................................................................22 F. PUBLIC FACILITIES.................: VL THE ESTIMATED TOTAL COST OF EACH PROJECT AND THE SOURCES OF CH COSTS.................6...........4............. .................................................2 4 MONEYS TO PAY SU ,.30 D COMPLETION DATE FOR EACH PROJECT............................... VII, THE ANTICIPATE REVENUES REQUIRED AND F TAX ANTIC yam, IgE ESTIMATED YEAR INWHICH INCREMENT CH INDEBTEDNESS WILL BE RETIRED••••.•••••••3© THE .................ArTD AFTER THE 30 FINANCIAL ANALYSIS OF THE PLAN............................... FINANCING,BOTH UNTIL 1X, X. IMPACT OF THE TAX INCUPON �ENTITIES LEVYING TAXES UPON INDEBTEDNESS IS REPAIDRENEWAL AREA..................................................... ...................... ......................................31 PROPERTY IN THE URBAN DRAFT REPORT ON CITY CENTER URBAN RENEWAL,pLAN I. INTRODUCTION The City Center Urban Renewal Report(the"Report") contains background information and project details for the City Center Urban Renewal Pian(the"Plan'°). The Report isnot a legal part of the Plan but is intended to provide public information that will guide the City Council and Tigard voters as part of their approval of the Plan. The Report provides the information required in ORS 457.085(3). The format of the Report is based on this statute. City of Tigard 4 October 15, 2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN g, EXISTING PHYSICAL AND ECONOMIC CONDITIONS AND IMPACT ON MUNICIPAL SERVICES This section of the Report describes existing conditions wit a Cityd fined yrbaRenewal Area(the"Area"), documenting the occurrence of"blighted ORS 457.010(1). A. Physical Conditions Land Use and Zoning The Area contains approximately 193.71 acres and comprises 2.b% of the City's 7439.1 acres of total land area. It contains 193 individual properties,most of which are in the City's Central Business District (CBD) zoning district.. The Area is served by two major transportation corridors,Highway 99W and Hall Boulevard,which provide access to downtown Tigard from surrounding commercial,industrial and residential neighborhoods. Two sets of railroad tracks,owned by Burlington Northern Sante Fe Railroad and operated by Portland a and restrict Railroad,s between the northern and e . heart of downtown Tigan industrial southern portions of the,CBD. Freight trains transporting Go such as forest products,manufactured industrial products,. bulk feed and paper pass through the Area approximately eight times a day and create traffic congestion at rail crossings when switching occurs. Fanno Creek Park,which demarcates the southern edge of the Area's boundaries,is downtown's most significant natural resource and recreational amenity. The Plan includes projects that will strengthen linkages between downtown and Fanno Creek Park and expand the Park's role as a community gathering space and recreational destination. As described in further detail below,the age and physical condition of existing commercial development is mixed. Examples of newer or recently rehabilitated commercial development include the Crown Carpets building on the comer of Commercial Street and Main Street,the A-Boy plumbing and Electric store on Main Street and the BMDA building, whose ground floor tenants include a Thai restaurant and a naturopathic pet clinic.However,the Area also features substandard development and underutilized commercial buildings. On Main Street, for example, a boarded up building adjacent to the bridge overlooking Fanno Creek lies vacant. Further,some of Main Street's historic buildings have been evidenced by poorly maintained storefronts and facades. neglected, as An analysis of property classification data ewas useoin d Washington determine the 2004-05 Assessment and 5 axatron d October 15,20Q5 City of Tigard , DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN land use designation of parcels in the Area. While the Area is predominantly commercial, as illustrated in Table 1,"Land Use (2004- 05),"it features a mix of uses,including residential,multifamily, and exempt or partially exempt public uses. Table 1:Land Use 20044 Property Class Number of Acres* %of Total Parcels Improved Residential 23 5.52 3,8% ` Vacant Commercial 10 1.30 0.9% Improved Commercial 122 73.55 51.0% Improved State-Assessed Industrial 1 6.25 4.3% Vacant Multifamily 1 0.07 0.0% Improved Multifamily 10 8.64 6.o% Exempt Federal 2 2.32 1.6% Exempt State 1 3.29 2.3% Exempt City 14 33,68 23.4% Exempt Municipal Water District 2 4.17 2.90/a Exempt Other Municipal Corporation 2 0.98 0.7% Exampt Fire District 1 1.48 1.0% Exempt Benevolent 2 1.31 0.9% Exempt Fraternal 2 1.58 1.1% TOTAL 193 144.14 100.0% TOTAL VACANT 18 12.46 8.60, TOTALIWROVED 175 131.68 91.4% Source:Washington County,OR 2004-05 Assessment and Taxation Database Note:Total acreage does not include an estimated 49.57 acres of ROW. Only 9%of the Area is vacant. Most of the undeveloped lands, including 4.17 acres of Water District property and 3.29 acres of Oregon Department of Transportation right-of-way, are under public ownership. Improved commercial uses constitute 51% (73.55 acres) of the Area's total acreage. Existing commercial development is concentrated on Main Street,Highway 99W and property abutting the intersection of Hall Boulevard/Highway 99W. A broad range of retail and commercial uses are represented. These include but are not limited to:restaurants, antique stores,finmiture stores,paint supply stores and frame shops as well as a liquor store, athletic club,bike shop,carpet store and shoe repair shop. Professional and medical_ service_ providers, including dentists,realtors, attorneys and the Tigard Chamber of Commerce,are also active in the Area. While most downtown businesses are small and locally owned, national retailers and franchises such as Rite-Aid,Jo-Ann Fabrics,Napa Auto Parts and A-Boy Plumbing and Electric are also represented. City of Tigard 6 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN Some existing uses in the downtown area do not colnform to the goals and objectives of the City's Comprehensive Plan and Development Code. In particular, automobile-oriented uses and manufacturing and industrial facilities do not support the City's goal to create a vibrant, pedestrian friendly atmosphere downtown. These are examples of area businesses that play a valuable role in the local economy but are not appropriate uses. of the CBD. The presence of industrial and automobile-oriented uses in the heart of downtown underscores the current underutilization of the area and magnifies the need for public investments that will attract more suitable retail, residential and employment uses in the CBD. The presence of industrial and automobile-oriented uses in the heart of downtown underscores the current underutilization of the area and magnifies the need for public investments that will attract more suitable retail, residential and employment uses in the CBD. In addition to commercial uses,tax exempt uses or partially exempt uses totaling 48.81 acres or 33.9 % of the Area's total laud area are also well represented. Most notably,the Area includes 33.68 acres of property under City ownerslup. While residential uses are present,they account for less than 10% of the Area's total acreage. Multifamily development and single family Homes, predominantly from the 1940s and 1950s, constitute 6% and 3.8% of the Area's acreage respectively. Table 2, "Zoning Districts (2004-05)," shows the distribution of the Area's lands by zoning district. Table 2: Zoning Districts(2004-05) I Zoning District % of Total 1 Commercial Zoning Districts Central Business District 80.9% General Connlnercial 12.3% Professional Commercial 3.3% SUBTOTAL 964% Residential Zoning Districts R-4.5 Low-Density Residential District 1.0% R-12 Mediun-Density Residential District 1.3% R-25 Medium High-Density Residential District 1.3% SUBTOTAL 3.6% TOTAL 100.0% Source: Washington County,OR 2004-05 Assessment and Taxation database City of Tigard 7 October 15, 2005 This page amended by CCDA on 10/18/05 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN Approximately 46% of the Area with is zoned commercial,with 80.4% of the Area's total acreage in the CBD zone, 12.3%in the General Commercial zone and 3.3%in the Professional Commercial zone. Less than 4% of the Area's acreage is within residential zoning districts that permit abroad range of housing types at varying densities. The residential lands are concentrated in the southern and western portions of the Area, adjacent to Fanno Creek. B. Infrastructure I. Transportation and Streetscape As detailed in the Tigard Downtown Improvement Plan,poor linkages exist between downtown Tigard and surrounding commercial,residential and employment Areas. Weak connections, in particular a lack of pedestrian friendly streetscape amenities,make it difficult to attract and sustain high quality retail,office and residential development,as specified in the Development Code. Long term needs for the Area include transportation improvements that will reduce traffic congestion, improve access to downtown,and create a safer and more welcoming environment for pedestrians, bicyclists and motorists. The City has established a preliminary list of priority transportation needs, which include: 1. Implement street improvements that will increase multimodal access and connectivity, reduce congestion at major intersections and increase safety for pedestrians,bicyclists and motor vehicles. 2. Provide bike lanes, sidewalks, and pedestrian-oriented streetscape improvements to increase multimodal circulation, safety, and connectivity and enhance the visual identity of downtown Tigard. 3. Develop pedestrian facilities that will improve pedestrian access to downtown from surrounding neighborhoods. . 2. Parks The Plan identifies improvements to Fanno Creek Park,the Area's most significant natural resource, as a priority project. As the Area redevelops, the Park's role as a community gathering space and recreational activity center will expand. For this reason,maintaining and upgrading park facilities and protecting sensitive areas from the impacts of development and increased usage patterns will be critical. City of Tigard 8 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN In addition to Fanno Creek Park improvements,the Plan recommends the development of a new skateboard park. 3, Public S aces As detailed in the Tigard Downtown hnprovem ubtlPlan, ces at key Area"s public space environment is inadequate. Developing public p y locations throughout the Area will strengthen linkages between downtown and Fanno Creek Park,the Area's existing"green"amenity, and reinforce downtown's identity as a unique shopping, entertainment, civic and recreational destination. The Plan has identified public spaces needs for the Area,which include: a green corridor/urban creek that connects to other Public spaces in the area and serves.as an anchor for new development; public plazas that serve as community gathering spaces; urban green spaces that beautify the Area and provide Opportunities for active and passive recreational activities; and a public market near Fanno Creek. C. Social Conditions social conditions within the Area,a summary of demographic data and trends To analyze from the 1990 and 2000 U.S Census is included in this section. Census block group data was used to examine the Area's population and housing characteristics. The selected correspond directly with the Area and the analysis is block groups encompass but do not intended to provide a general description of the Area. Analysis of the Area in 1990 and 2000 is based on the following Census Tracts and Block Groups in Washington County, Oregon: Census Tract 307—BG 1,2 Census Tract 308.01 —BG 1 Census Tract 3.09—BG 1 1, Population and Housing According to the Bureau of Census,in 2000 the total population of the Area was reported at 3,311 persons,up 8.3%from 3,056 persons in 1990. In 2000, 1,413 households with an average household size of 2.34 were reported for the Area. As presented in Table 3,"Change in Occupancy Status (1990 to 2000)," the Area experienced a net increase of 239 housing units (19.1%)between 1990 and 2000. Corresponding with the increase in total housing units, City of Tigard 9 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN occupied housing units in the Area increased by 17%between 1990 and 2000. While growth in owner-occupied units was modest at 6.7%(43 units),renter-occupied households increased by 28.4% (162 units). The overall share of owner-occupied units in the Area decreased slightly from 52.8%in 1990 to 48.2%in 2000, a net loss of 4.6%. The decline in owner households may be attributed to the limited availability of ownership housing that is both affordable and attractive to buyers. It also suggests that prospective homebuyers do not view downtown Tigardmla desirable place to live. Table 3:Chan a in Hpano Status 1990 to 2000 1990 2000 Change %Change Total bousing units 1,252 1,491 239 19.1% occupied units 1,208 1,413 205 17.0% owners 638 681 43 6.7% renters 570 732 162 28,4% Vacant units 44 78 34 77.3% %Owner occupied 52.8 48.2 -4.6 NIA Renter occu ied 47.2 1 51.8 4.6 N/A Source: 1990 and 2000 Census,SF I-100 Percent Data As illustrated in Table 4,"Race Characteristics (2000),"while the Area's population is largely white,non-white residents represent a significant share of the populration at 14.5%. Among non-whites who affiliated themselves with a single race,Asians showed the highest representation at 4.4%. In-2000, 3.5%of the Area's total population(487 persons) claimed two or more races. Table 4:Race Characteristics 2000 Race Area Total %of Area Total Total: 3,111 100.0% Population of one race: 3,196 96.5% White alone 2,830 85.5% Black or African American alone 22 0.70/0 American Indian and Alaska Native alone 26 0.8% Asian alone 147 4.4% Native Hawaiian and Other Pacific Islander alone 34 1.0% Some other race alone 137 4.1% Two or more races: 115 3.5% Total non-white: 481 1.4.5% Source: 2000 Census,SF 1 -100 Percent Data City of Tigard 10 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN ' in 1990, an estimated 93 persons or 3.0% of the Area's total population reported Hispanic or Latino origin. By 2000, as shown in Table 5 ,Hispanic or Latino Population(2000),"the Hispanic or atino population had risen to 403 persons or 12.2% of the Areas total population. Between 1990 and 2000,with the addition of 310 persons of Hispanic or Latino c or Latino population more than tripled. origin,the Area's Hispani Table 5:Hispanic or Latino Population(2000) of Area Hispanic or Latino Area Total Total 3,311 100.0% Total Population: 21908 87.8% Not His anic or Latino 403 Hispanic or Latino Source:2000 Census,SF 1- 100 Percent Data D. Economic Conditions 1, Taxable Value of Pro e Within the Area State law limits the percentage of a municipality's total assessed value and area that can be contained in an urban renewal area at the time of its establishment to 25%for municipalities under 50,000 in population. The estimated total assessed value of the Area,including all real,personal, personal manufactured and utility properties,is$59,854,340 or 1.47%of the City of Tigard's total assessed value. The estimated total acreage of the Area,including 49.57 acres of ROW,is 193.71 acres or 2.6%of the City's total land area.Accordingly,the Area is well within the 25% assessed value and area limits. 2. Buildin to Land Value Ratio An analysis of property values can be used to assess the economic condition of real estate investments in a designated buildings and relationship latotheonship of a property's improvement value(the 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 Ratio" or"I:L".The values used are real market values.f development in-urban reareas,the I:L may newal extent t which an area has to measure the intensity P achieved its development priorities. LL ratios for healthy properties in downtown Tigard could range between 7.0 -10.0 or more. For instance,a property on a 15,000 square foot lot would have a land value of$150,000, at$10.00 per square foot. A two- story commercial property containing 20,000 square feet valued at$60-00 City of Tigard 11 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN per square foot would have an improvement value of$1,200,000. The I:L ratio for this property would'be 8.0. Table 6, "Improvement to Land Ratios (2004-05),"shows the average improvement to land ratios for properties within the study area, sorted by property class. As highlighted in the Physical Conditions section,the Area consists primarily of commercial lands within Tigard's Central Business District (CBD) and General Commercial (CG)zone. At 1.34,the average I:L for commercial uses within the Area is very low, an indication that commercial properties are significantly underdeveloped. One of the stated economic policies of the Tigard Comprehensive Plan is,"to improve and enhance portions of the central business district as the focal point for commercial,high density residential, business, civic and professional activity creating a diversified and economically viable core area." The Plan supports projects that will enhance the Area's capacity to retain existing businesses and attract new employers,residents and visitors to the Area,thereby improving economic stability and job growth within the CBD. Table 6: Improvement to Land Ratios{2404-05) use Average I:L Average U All Parcels Improved Parcels Only Residential 0.67 0.86 Commercial ' 1.34 1.43 State-Assessed Industrial 0.00 0.00 Multifamily Residential 2.53 2.79 Exempt or Partially.Exempt 0.20 0.73 Source:Washington County,OR 2004-05 Assessment and Taxation database The average I:L of each of uses represented in the Area is low, falling at or below 2.79. This is clearly evidenced by the Area's inadequate streetscape, substandard housing development,underutilized commercial lands, and the lack of public spaces and public facilities. 3. Income and Poverty As a group,Area residents are less well off than the citywide population. The Area's median household income was estimated at$38,100 in 2000, 26% lower than the City's median household income of$51,581. Table 7, "Poverty Status in 1999 by Age,"shows the population breakdown by persons living below and at or above the federal poverty level. City of Tigard 12 October 15, 2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN Table 7:Pove Status in 1999.b A e %of Area Poverty Data Area Total Total 3 705 I00.0°/a Total Parsons 314 8.5% Income in 1999 Below Pove Level: 95 2.6% Under 18 years 219 5.9% 18 ears and aver 3,391 91.5% Income in 1999 at or Above Pove Level: 446 12.D% Under 18 years 2,945 79.5% 18 years and over Source:2000 Census,SF 3-Sample Data upopulation for whom Poverty Status is Determined An estimated 8.5%of the Area,s population was living below the poverty level in 1999. The Plan supports transportation and streetscape projects and programs that will improve the physical appearance of downtown Tigard and increase access and connectivity throughout the Area These improvements will make downtown an attractive location for high quality retail., commercial and office development,which will create new ortunities for local residents. employment and economic opp 4. EMRImentt Employment data from the 2000 Census is used to analyze te and national ffie employment status of residents in de Area. Given that unemployment rates increased during the economic downtown and the Portland regional economy has not yet fully recovered,it is likely that floe Area is higher and the labor force current unemployment within participation rate is lower than in 2D00. As shown in Table S,"Employment Status,Persons 16 years and over, City Center URA(2000),"the percentage of Area residents 16 and over in the labor force was 65.5%in 2000. While only 2.6% of the labor force was unemployed,the Area's labor force participation rate was 6%lower than the citywide rate,reported at 72.2%in 2000. This suggests that downtown Tigard may have a significant population of persons who, due to age or disability, are unable to work. City of Tigard 13 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN Table$: Employment Status,Persons 16 years and over jq!ty Center URA 2000 Employment Status Area Total %of Area Total Persons, 16 years and over 3,224 100.0% In labor force: 2,112 65.5% Armed forces 0 0.0% Civilian Iabor force 2,112 65.5% Employed 2,029 62.9% Unemployed S3 2.6% Not in labor force: 1,112 34.5% Source:2000 Census, Sl~3-Sample Data E. Impact on Municipal Services The fiscal impact of tax increment financing on taxing districts drat levy taxes within the Area("affected taxing districts") is described in section X of this Report. This subsection discusses the fiscal impacts resulting from potential increases in demand for municipal services. Increases in commercial and residential occupancies within the Area will generally result in higher demand for fire,life safety and public safety services. However,older buildings not currently meeting building and fire codes will be brought into code compliance,reducing the demand from those buildings. Similarly, street improvements identified in the Plan will make downtown safer and more accessible to fire and emergency services vehicles. New landscaping features and public spaces improvements within the Area will increase the need for maintenance. However, sidewalk improvements will reduce the need for repairs of existing sidewalks. Population growth resulting from new residential development within the Area will increase the demand for municipal and social services. However, the cost of providing these services will be off set, in part, by property tax revenues. City of Tigard 14 October 15,2005 This page amended by CODA on 10/18/05 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN In, REASONS FOR SELECTION OF EACH URBAN RENEWAL AREA IN THE PLAN_ There is one urban renewal area in he Plan l in ORS 45 Qlp�land it was selected to �rove and prevent the future occurrence of blighted areasdefined IV. COMPLLANCE WITH STATUTORY LIMITS ON ASSESSED VALUE AND SIZE OF URBAN KUNVWAL AREA As noted above,the estimated total assessed value of the Area,including all real,personal, personal manufactured and utility properties,is$59,854,340 or 1.47%of the City of Tigard's total assessed value. The estimated total acreage of the Area,ine City,s total land area.Accordingly,k ing Area 57 acres of ROW,well within the 2S s assess acres a and a oaf limit contained Chapter 457 of rregon Revised Statutes. assessed value and ar 3 n City of Tigard 15 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN V. THE RELATIONSHIP BETWEEN URBAN RENEWAL PROJECTS AND THE EXISTING CONDITIONS TN THE URBAN RENEWAL-AREA This section describes the relationship between the urban renewal projects called for in the Plan and conditions generally described in Section II of this Report and more particularly described below. A. Street Improvements 1. Ash Avenue Extension Scoffins to Burnham Including Railroad Crossing The extension of Ash Avenue from Burnham Street to Commercial Street is a project under the Plan. Relationship to Existing_Conditions Under existing conditions,Ash Avenue is an incomplete roadway that extends from Scoffins Road to Commercial Street and picks back up at Burnham Street,on the south side of the rail corridor. Filling in the"gap" in the roadway will increase access and connectivity within the CBD. The provision of a new railroad crossing is necessary to ensure pedestrian, bicycle and motor vehicle safety. 2. Scoffins Street/Hall Boulevard/Hunziker Road Re-Alienment This proj mt will realign the.Scoffms Street/Hall Boulevard/Hunziker Road intersection. Relationship to Existing Conditions Located on the eastern edge of the Area,this three-way intersection provides access to downtown from Highway 99W and residential neighborhoods east of Hall Boulevard and south of downtown. Currently, Scoffins Street and Hunziker Road are poorly aligned,which increases traffic congestion and compromises the safety of pedestrians,bicyclists and motorists crossing over, or turning on or off,Hall Boulevard. Improving the alignment of the intersection will reduce congestion and increase multimodal safety. 3. Hall Bivd/High3yay99W Intersection Improvements Improvements to the intersection of Hall Boulevard and Highway 99W are a project under the Plan. The acquisition of additional public right-Df-way may be undertaken as part of the project. Relationship to Existing Conditions City of Tigard 16 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN This project will improve multimodal circulation and safety and reduce congestion at the,intersection of Hall Boulevard and Highway 99W, a major intersection that serves as the primary entryway to downtown. 4 Gregnbur Road/Hl hwa 99W Intersection Tm rovements Improvements to the intersection of Greenburg Road and Highway 99W are a project under the Plan. Relafionshi to Existin Conditions Under current conditions,traffic congestion at the intersection of CGreenburg Road and Highway 99W hampers multimodal circulation and safety in Downtown Tigard and impedes access to the Area. This project will promote safe and convenient access to downtown Tigard and improve the flow of traffic throughout the Area. 5 ghain Street Improvements The reconstruction and widening of Burnhayn street is a project under the Plan. Relationship to Existing_Conditions constrained by As noted in Section H A, access throughouthe Area i.n the tral weak linkages and the lack of an adequatesystem nstruction and widening of Burnham.Street Business District. The reco ess to underutilized commercial properties in will increase multimodal are the southeast portion of the Area,which are expected to redevelop to more intensive residential, office,civic and commercial uses under the Plan. 6, Center Street Improvements Upgrades and improvements to Center Street are a project under the Plan. Relationshi to Existin Conditions As the Safeway property at the northwest Bch proer of videsall Baccess�o the d and Highway 99W redevelops, property from Greenburg Road,will need to be improved to accommodate the anticipated increase in bicycle,pedestrian and motor vehicle traffic. B. Streetseape Improvements 1, Downtawn Ti and Strestsca a Im rovements City of Tigard 17 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN Streetscape improvements along Main Street,Burnham Street, Commercial Street,Ash Avenue, Scoffins Road and Center Street are a project under the Plan. .Relationship to Existing Conditions The lack of adequate streetscape amenities and human-scale development in downtown Tigard makes it an unsafe and unwelcoming destination for pedestrians. Under current conditions,downtown lacks a distinct visual identity and character,which has made it difficult to attract active retail, civic and employment uses supported in the Comprehensive Plan. Installing streetscape furnishings, street trees and other landscape enhancements will beautify downtown and create a more business- friendly,pedestrian-oriented environment. C. Bike/Pedestrian Facilities 1. Commuter Rail Access The provision of a new pedestrian access way between Burnham Street and the proposed commuter rail station is a project under the Plan. Relationship to Existing Conditions Under cuirent conditions,multimodal access within the Area is constrained by the rail corridor,which bisects the CBD. Pedestrians who want to cross between the north and south sides of the rail corridor currently have one option—Main Street. This project will provide an alternative and more direct access route for pedestrians wishing to access the proposed commuter rail station on Commercial Street. 2. Sidewalks and Bike Lanes The Plan recommends bicycle and pedestrian improvement projects that will provide sidewalks and bike lanes on Hall Boulevard, Scoffins Street, Tigard Street,Highway 99W and Center Street. Relationship to Existing Conditions The incomplete sidewalk system and lack of striped bike lanes in downtown Tigard impedes pedestrian and bicycle access and weakens public perception of downtown as a unified district. In conjunction with urban spaces and streetscape improvements,the proposed sidewalk and bike lane improvements will improve multimodal access to the Area and create an attractive and visually distinct streetscape environment in downtown Tigard. City of Tigard 18 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN 3 Enhanced Pedestrian Brill ge over Fanno Creek Connectin to Ash Avenue The design and construction of an enhanced pedestrian bridge over Fanno Creek is a project under . h the bridge ekl connect to Ash Avenue, which does not currently extend Relationshi to_Existing Conditions One of the stated goals of the Plan is to, "Capitalize on Commuter Rail and Fanno Creek as catalysts for future investment and development." This project will enhance connectivity between westnowntown of Fanno Creek. d and residential neighborhoods t the south a 4. Conversion of Existing North Rail Corridor into a Multi-use Pedestrian Trail The conversion of the existing north railcorridor into amulti-use pedestrian trail is a project under the Plan. Key components of the project may include bio-swales,native vegetation,pervious pavement and low impact stormwater conveyance/treatment features. Relationshi to Existin Conditions This project will increase pedestrian access to downtown Tigard while Providing new active and Passive recreational opportunities for Area residents,workers and visitors. Consistent with goals of the Tigard Downtown Improvement Plan and the Comprehensive Plan,this project will be developed in an environmentally sensitive manner and will incorporate low impact,sustainable development techniques. City of Tigard 19 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN 5. Tigard Street/Grant Bicycle/Pedestrian CrossinJ This project provides for the design and construction of a new at-grade bicycle/pedestrian crossing that will extend from the intersection of Tigard Street and Grant Street(south of the railroad)to the north side of the railroad tracks. Relationship to Existing Conditions Currently, due to an insufficient number of railroad crossings,multimodal access to Downtown from surrounding neighborhoods is constrained. This project will provide safe and convenient access to non-motorized vehicles traveling to and from downtown from residential areas to the north and west. D. Parks I. Fanno Creek Park improvements Improvements to Fanno Creek Park,including the preservation and restoration of environmentally sensitive areas, are a project under the Plan. Relationship to Existing_Conditions As the Area redevelops and new housing,office,retail and commercial development locates downtown,it will be necessary to preserve the environmental integrity of existing parks and open space areas. Currently, Fanno Creek is the Area's most significant natural amenity. This project provides for improvements that will make Fanno Park a safer and more attractive recreational destination while protecting sensitive areas in the Fanno Creek Watershed. 2. Skateboard Park The design and construction of a new skateboard park is a project under the Plan. Relationship to Existing Conditions Similar to the Fanno Creek Park Improvements project and other public spaces proposed in the Pian,this project will expand the range of recreational opportunities in the Area and draw people of varying ages and interests to Downtown Tigard. E. Public Spaces City of Tigard 20 October 1.5, 2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN 1. Green Corridor/Urban Creek The development of a green corridor/urban creek,which will extend from Fanno Creek tope northwest corner of the Central Business District,is a project under the Plan, RclatioasWp to Existin Conditions As described in Section 11 B,downtown Tigard's inadequate streetscape environment limits its capacity to promote active retail, shopping and entertainment uses. The proposed Green Corridor/Urban Street project will serve as a catalyst for development and strengthen linkages between key downtown locations,including Fanno Creek Park,Main Street and the proposed Commuter Rail station. 2. Plazas and Urban Green Spaces The development of public plazas that will serve as public gathering spaces i's a project under the Plan. Relationshi to Existing Conditions Under existing conditions,the lack of public open space areas in downtown Tigard makes it an unattractive and unwelcoming pedestrian environment. Developing public plazas and urban green spaces suitable for a broad range of recreational and civic uses will increase community livability in downtown Tigard and strengthen its identity as a pedestrian- friendly shopping, entertainment and recreational district. 3. Public Market The development of a public market in the proposed public use area near Fanno Creek is a project under the Plan. Relationshi. to Existin Conditions Developing a public market that will serve as a gathering space for community events and recreational activities will draw residents.and out- of-town visitors to downtown Tigard.Area businesses will benefit directly from this project as individuals and families who visit the public market will also patronize restaurants,shops and other downtown venues. City of Tigard 2 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN F. Public Facilities 1. Performiniz Arts Center The development of a performing arts center in downtown Tigard is a project under the Plan. Relationship to Existing Conditions Under existing conditions, artistic and cultural activities in the Area are very limited. The development of a new Performing Arts Center, which will serve as a community gathering place for the arts,will promote downtown Tigard's reputation as a center for entertainment and culture. Performing Arts Center patrons will shop at local businesses, dine at , downtown restaurants and enjoy the various recreational and entertainment activities that the Area has to offer. 2. Public Parking Facilities The development of new public parking facilities in downtown Tigard is a proj ect under the Plan. Relationship_too Existing Conditions While the Area's supply of parking is adequate for the needs of existing businesses and residents,it is anticipated that the demand for public parking facilities will increase as the Area redevelops. Anticipated growth in housing and employment densities in'downtown Tigard will increase the need for additional off-street parking.Developing public parking facilities at key locations throughout the Area,particularly in the CBD, will make downtown a convenient location for civic,retail and recreational activities. 3. Public Market Area The development of a public market area in the proposed public use area near Fanno Creek is a project under the Plan. Relationship to Existing Conditions The public market area will serve as a community gathering spot and will strengthen linkages between Fanno Creek Park,the CBD and adjacent residential neighborhoods. 4. Post Office Relocation City of Tigard 22 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN The possible relocation of the existing downtown post office is a project under the Plan. Relationshi to Existin Conditions The existing downtown post office may not be the optimal use for valuable.commercial real estate in the heart of downtown Tigard. Although the post office generates a substantial level of traffic, it is not compatible with other desired commercial activities on Main Street. For this reason;the post office may be relocated to an alternative site in the Area. 5. Public Restrooms The provision of public restroom.s in public gathering spaces is a project under the Plan. Relationshi to Existin Conditions Concurrent,with the development of public gathering spaces in the Area, such as the proposed Public Market near Fanno Creek,the provision of public restrooms will help make shopping, dining and usage of the Area's public facilities and recreational amenities a comfortable and convenient experience for the public. City of Tigard 23 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN VI. THE ESTIMATED TOTAL COST OF EACH PROJECT AND THE SOURCES' OF MONEYS TO PAY SUCH COSTS Table 9 below shows the estimated total cost of each project and the estimated sources of funds to address such costs,with all figures in year of expenditure dollars (which take into account inflation). City of Tigard 24 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN Table 9: Revenues, Costs and Schedule Urban Renewal Projects dule for zo13 2014 2415 2416 FY Endin June 30 2007 � 2008 2009 2010 2011 2012 Revenues 0 .488,000 70,960 477,522 34,481 122,120 17 865 620,620 534,754 42b,47S Be 'nnin Balance p 830,136 0 1,028,100 160,173 l 350895 292,173 1,702, Debt Proceeds 900,000 0 19, 90 Initial Fundingfrom Cit ofTi and 0 7,320 13,516 7 !63 15,939 4,234 20,531 13,692 27,558 Interest Earnin s 900,00D 495 320 914,613 484,685 1078521 286,527 1,389,291 926,485 1,864,761 1,332,3 45 Total Revenues 1 Adminstration 7 a 14 2 3 4 5 6 1 0 153,734 158,346 195,716 201,5$7 Ca ital Projects 154,540 159,135 163,909 168 826 !73,891 Street Im rovements 0 153 734 !58 346 195,716 2QS,5870 154 500 159 135 163 909 168,826 173,891 0 0 0 4 Streetsca im rovements 103,000 lob 494 !09,273 !12 551 115,927 Bike/pedestrian Facilities 0 0 0 p 231;855 119405 153 734 158,346 195,716 20!,587 Parks 0 0 0 0 231,855 119,405 153 734 158,346 195,7160 201,58Q Public S aces Q 0 0 0 0 0 0 0 0 Public Facilities 4 0 0 28,982 29 851 153,734 158,346 195,7160 20 > 0 Plan in and Develo ment Assistance 0 0 0 0 4 4 Pro ert A uisition From Willin Sellers 0 0 Total f;x enditures 412000 424,360 437,09! 450,204 956,401 268,662 769,671 79t,731 978,580 1,047,937 CCDA noted pagination corrections are needed for header/footer misplacements. (pp 25-29) Table 9: Revenues, Costs and Schedule for Urban Renewal Projects (Continued) City of Tigard 25 Octobcr 15, 2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN FY P-N hne 30 2017 •2018 2019 2020 2021 2022 2023 2024 2025 2026 Revenues Beginning Balance 324,408 1,099,304 309,297 941,997 266,233 922,616 257,482 1,540,I04 522,161 1,536,132 Debt Proceeds 11951955 434,5271703,901 512,490 1,870,703 595,854 2,725,440 651 615 2 934,810 728,428 Initial Fundingfrom Cit of Tigard Interest Earnin s 34.1451 23,007 30,198 21,817 32,054 22,7771 44,744 32,876 51,855 33,968 Total Revenues 2310508 1556 838 2,043,397 1,476,304 2,168 990 1,541,248 3,027,667 2,224,595 3,508,826 2,298,528 Adminslration Capital Projects 11 12 13 14 15 16 17 18 19 20 Street Improvements 242,241 249,508 220t280 242,014 249,275 256,753 297,513 340,487 394,539 451,528 Streetscape Improvements 242,241 249,508 220,280 242.014, 249,275 256,753 297,513 340,487 394,539 451,528 Bike/Pedestrian Facilities 0 0 0 0 0 0 0 0 0 0 Parks 242,241 249,508 220,280 242,014 249,275 256,753 297,513 340,487 394,539 . 451,528 Public Spaces 242,24I 249,508 220,280 242,014 249,275 256,753 297,513 340,487 394,539 451,528 Public Facilities 0 0 0 0 0 0 U 0 0 0 Planning and Development Assistance 1242-12-41 249,508 220,280 242,014 249,275 256,753 297,513 340,487 394,539 451,528 Property A uisition-From Willing Sellers 0 0 0 0 0 0 0 0 4 0 Total Bx enditures 1,211,2051 1,247,541 1,101,400 1,210,072 1,246,374 1,2$3,765 1,487,563 1,702,433 1,972,694 2,257,634 On 10/18/05 CCDA requested line item for funds to be budgeted for property acquisition from willing sellers. Consultant Tashman also noted that no line item was included for public facilities. Table 10:Tax Increment Revenues,Debt Service and Debt Service Reserves City of Tigard 26 October 15,2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN 2015 2016 2410 2011 2012 2013 2014 2017 FY EndingJune 30 2007 2008 2009 40 827 79 535 196 425 286 223 299,301 453,184 444,l69 679,289 62fi,781 REVENUES 4 647,606 737,494 671,643 1,011,682 Be innin Balance db 223 lZ4 646 200 530 279 022 160,181 481,664 --I-10 24,386 33,453 33,979 Tax Increment Revenues 603 3 695 5 394 10,078 139M 16,207 Interest 40 827 k 68 574 285 459 485 525 660,]93 797,372 1,083,501 1,246,070 1,584 345 1 672,441 Total Revenues ' Avera a Tax Inctement Revenues 1 222 820 I EXPEN131TURES 89,035 84,035 84035 69,035 Debt Service,Lon Term 69 035 89,035 69035 89,435 89,035 110267 114,267 114,267 Bond l 110. 67 k 10,267 110,267 110,267 i 144,887 144,687 144,867 144,867 Band 2 144987 Bond 3 182;593 182,593 182,593 195,849 Band 4 Bond 5 Bond 6 Bond 7 Bond 8 Bond 9 _ 0 89 035 89 035 199 301 199 301 344,189 344,169 526,781 526,781 722, 3 Total Debt service,Lon Term 526,781 722,634 4 89,035 89035 199,301 149,301 344 189 344 189 526,781 Bond Reserve 4347$2 127,{$2 Debt Service Short Term 4 161 791 295 124 0 178069 Total Fac enditures 178,469 396 503 560,393 688,377 983,50! l,OS3,56Z l 484,345 (,572,441 Table 10:Tax Increment Revenues,Debt Service and Debt Service Reserves(Continued) City of Tigard 27 October 15, 2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN FY End in June 30 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 REVENUES Beginning Balance 822,630 822,63 980,138 980,138 1,148,672 1,148,672 1,311,417 1,31 I,417 1,467,162 1,467,I62 Tax Increment Revenues 1,12D 066 1,232,193 f348178 1,468,14 1,592,201 1,695,984 1,803,223 1,91 2,028,505 2,146,77 Interest 41,4805 43,162 49,627 51,426 58,343 59,900 66,391 63,053 74,442 76,216 Total Revenues 1,984 176 2.U97.985 2,377,943 2,499 705 2,799 216 2,904,555 3,181,031 3,293,497 3,570,110 3,690,151 i Average Tax Increment Revenues EXPENDITURES Debt Service Long Term Bond 1 89,035 89,035 89,03589 035 99,035 Bond 2 11 G267 110.267 110,26710,267 110,267 110,267 110,267 Bond 3 144,987 144,887 1441887N144,887 144,887 144,887 144,887 144,987 144,887 Bond 4 182,593 182593, 182,593 82 593 192,593 182,593 192,593 182,593 182,593 162,593 Band 5 195,849 195,849 195,84995 849 195,849 195,849 195,84 195,949 I95,849 195,849 Bond 6 157,508 157,508 57 506 157,508 157,508 157,508 -157,508 157,508 157,508 Bond 7 168,533 168,533 168,533 168,533 168,533 168,533 168,533 Bond 8 251,780 251,780 251,780 251,780 251 780 Bond 9 266,012 266,012 266,012 Total Debt ServiceLong Term 722,630 880,138 880,138 1,048,672 1 048 672 1,211,417 1,211,417 1367162 1367 162 1,222,275 Bond Reserve 722,630 880,138 880,138 1048 672 1,90,67 1211 417 1,211,417 1 367,162 1,367,162 1,222 275 Debt Service Short Term 438,916 237,709 517,667 302,361 601,873 381,721 658,197 459,173 735,786 1,145,601 Total Expenditures 1,884,1761 1,997.9851 2,277,9431 2,399,705 2,699,2161 2,804,9551 3,081,0311 3,193,4971 3,470,110 3,590,151 Table 11: Projected Incremental Assessed Valle and Tax Rates i I i II i City of Tigard 28 October 15, 2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN 2007 2006 2009 2010 2011 2012 2013 2014 2015 2016 2017 FY i ndin lune 3D ' Fronen Base 62,884,466 62884 466 62 884 466 62 864 466 b2 884,466 62 664,465 62,581005 109857879 114 550,020 125 594,334 l36 997765 62,,884,466 66 304,704 73,483 445 74 935 7b6 86,509 983 93, 25°� 2.5% 2.5°/v 2.5% 2.5/° Prior Year Total 2.5% 2.5% 2.5% 2,55 2.5% 3 424,945 A rcciation% 1572 112 1 657 6l a 1837 086 199$394 2 165 250 2 337 775 2 596 447 2 853 75l 3,134,858 A seaiation b 4 181,281 12,677669 6,633,061 8,772,651 B 915,234 15 134,3 0l l5 3616 w IS 593$906 15,$306 w 16,0728 60 OrossNew Real Market Value v 65°/v 81% 82°/6 65/° Net%of Gross 2 7!7 832 8 240,485 6,942 779 7 193 573 7 399 644 12,712,855 13,057 57°1 13 410,1% 13,7726/ 14,l43 p0° Net Real Market Value v 65% 64% 63% 62/° 68% 67% 56/6 263 93 8,486,101 Chan ed Pro a Ratio 1 848,126 5 21,125 4,615 34 4 675 823 4 735,772 8009 098 6,095,694 8,180 563 8, 5 Assessed Value,NewDevelo Ment Total 62,884,4 6 63,320 238 10 498,80 1-1.051-301 23,725,517 30 fi26,0589 140,473,4 i 3 151,565,554 162,709,868 174,193 389 186,0 4,364 Incremental Assesed Value 11.8792 11.8792 11.8792 11.8792 L 1.8792 . 11.8792 11.8792 11.8792 11.87 Consul idated Tax Rate D7 92 11.8792 Tax Increment Revenues 40,41 125 9D7 202 856 28!$40 363,619 486,731 613,745 744,943 880,41,021,901 FY EndingJune 30 2018 2014 2020 2021 2622 2023 2024 2D25 202b 2027 Frozen Base 62 884 466 62 684,466 628$4 466 62 884,466 62 864 4fi6 62 884,466 62 884 466 62 864,466 62,884,466 62,684 466 Prior n Base 148,946,630 158,124,890 167,659 173 177,521 802 167 721 989 198,271 05°1 207,095,782 216 21 2 5% 225 636 509 235,37 2 5% A reciation% 2.S/° A reciatian S 3 722 721 3,953 122 4 19t 479 4 438 038 d 693 050 4 956 776 S,t77 395 5 445 362 5,640 905 5,884 2 1 Gross New Real Market Value I Q 287 15 i iQ 451,613 l0 619,gbw 10 7918904 1 D 966$391°� 7243$ 6 7 3gDB�/° 7 5216/6 766589° 7,8126° Net%oFGross Bg% 89% Net Real Market Value 9 155 565 9 301 936 9 451 415 9,604 062 9-176-G��6 6 A4665 6 868 807 6 693,979 6 622,6 6 953�51°�6 Chan ed Pro Ratio 60% 60% 60% 60°/v 60°� 6D% 01 3,81 Assessed Value,New Develo Ment 158 124890 167,659 173 17752093,312 4,172,109 5,581,161 1.502 i 87 721969 198 27,849 1051 207 095 782 216,214,461 339 229636 2D9 23.954 3941284 387 9 370 425 '245,426,796 Total 95 24D 424 104 774 707 114 637 036 124,837,523 135 365 565 144211 16 153,329,995 162,751,743 172,495960 18 542,330 incremental Assesed Value Consolidated Tax Rate' 11.8792 11,6792 11.8792 11.8792 (1.8792 11.8792 11.8792 11.6792 11.8792 11.6792 Tax i 8218 1933361 Increment Revenues 1,131,38D 1,244,640 1361 796 1482 970 1 608 284 1,713!15 ,43 , 2,446,995 2168,457 I i City of Tigard 29 October 15, 2005 } DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN VII. THE ANTICIPATED COMPLETION DATE FOR EACH PROJECT Table 9 shows the anticipated completion dates of the urban renewal projects. VIII. THE ESTIMATED AMOUNT OF TAX INCREMENT REVENUES REQUIRED AND THE ANTICIPATED YEAR IN WHICH INDEBTEDNESS WILL BE RETIRED Table 10 shows the yearly tax increment revenues and their allocation to debt service and debt service reserve funds. It is anticipated that all debt will be retired by the end of FY 202712028. The estimated amount of tax increment revenues required to service debt is $39,142,083 (total tax increment revenues of$40,025,326 less$884,243 remaining after debt is retired;to be.refunded to taxing districts). IX. FINANCIAL ANALYSIS OF THE PLAN The estimated tax increment revenues of$39,142,083 are based on projections of the assessed value of development within the Area. Table 11 (page 30) shows the projected incremental assessed value,projectedtax rates that would produce tax increment revenues, and the annual tax increment revenues. These in trim provide the basis for the projections in Table 10. . City of Tigard 30 October 15, 2005 DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN X. EYWACT OF THE T�S REPA D i PEON ANLL ENTITIES EV WNCING BOTH UNTIL G AND THE INDEBTEDNESS I UPON PROPERTY IN THE URBAN_NF-W AREA The impact of tax increment fmancing on overlapping taxing districts consists primarily of the property tax revenues foregone on permanent rate levies as applied to the growth in assessed value in the Area without the Plan. Revenues on growth in assessed value that would not actor but for the Plan cannot be consideredlaforegone.d take much longer to project that development within the Area without occur,would be less extensive and would have lower assessed values. Table 9 shows the property tax revenue foregone by overlapping taxing districts during the use of tax increment financing,in terms of average revenues foregone per year through FY 2027/2028 in current dollars. No impacts are shown for the K-12 School District or Educational Service District,because under the current K-12 and ESD king system,property tax revenues foregone by the districts would be offset by additional revenues from the State School Fund. Table 9: Revenues Foregone Present Value of Revenues Fore one Through 2028 Avera e/Year 'Washin on County Permanent 11,660,097 ,6 79,052 97 26,0 53,625 TVF&R 51,758 2,465 Port 3,396 Metro 71,324 1,855,537 88,359 City of Tigard ESD-NW Re ional 113,558 5,408 PCC 208,844 9,943 Table 10 shows the increase in permanent rate levy revenues that would occur in the years after termination of the tax incrementfinancing,from FY 2029 through FY 2037, 1 City of Tigard October 15,2005 A + DRAFT REPORT ON CITY CENTER URBAN RENEWAL PLAN when the projected additional value in the Area would result in a"break even"point, During FY 203612037,the value in current dollars of the revenues foregone would be exceeded by the value in current dollars of the additional revenues gained. Table 10: Revenues Gained After Termination of Tax Increment Financing FY 2029 through FY 2037 Taxing District Through 2037 Washington Cour Permanent 1,677,514 TVF&R 1,137,940 Port 52,301. Metro 72,073 City of Tigard 1,875,004 ESD-NW Regional 114,749 PCC 210,995 City of Tigard 32 October 15,2005