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06/08/2022 - Agenda City of Tigard Town Center Advisory Commission Agenda MEETING DATE/TIME: June 8, 2022 - 6:00 to 8:00 p.m. MEETING INFORMATION: MS Teams: https://www.tigard-or.gov/home/showpublisheddocument/1949/637770827974830260 Email comments to Seanktigard-or.gov 1. CALL TO ORDER Tom 6:00 2. CONSIDER MINUTES Tom 6:05 3. CALL FOR NON-AGENDA ITEMS Tom 6:10 4. PUBLIC COMMENT Tom 6:15 5. FOLLOW UP FROM PREVIOUS MEETING Sean 6:20 6. APPLICATION FOR TRIANGLE DEVELOPMENT ASSISTANCE PRESENTATION Sean 6:25 7. EQUITABLE BUSINESS DEVELOPMENT WORK Adrian 6:55 GROUP 8. HOUSELESSNESS WORK GROUP Tom 7:15 9. PROJECT UPDATES Sean 7:25 10. NATIONAL LEAGUE OF CITIES CONFERENCE Councilor Goodhouse 7:35 REPORT 11. TCAC MEETINGS Sean and Tom 7:45 12. LIAISON REPORTS All 7:50 13. NON-AGENDA ITEMS All 7:55 14. ADJOURN BUSINESS MEETING Tom 8:00 *EXECUTIVE SESSION:The Town Center Advisory Commission may go into Executive Session to discuss real property transaction negotiations under ORS 192.660(2) (e).All discussions are confidential and those present may disclose nothing from the Session.Representatives of the news media are allowed to attend Executive Sessions,as provided by ORS 192.660(4),but must not disclose any information discussed.No Executive Session may be held for the purpose of taking any final action or making any final decision.Executive Sessions are closed to the public. Upcoming meetings of note: Related websites and information: Tues.,June 7,6:30 p.m.TCDA Meeting(Budget adoption) Tigard TIF Districts Wed.,July,13,6:00 p.m.,Regular TCAC Meeting Tigard Construction Updates The City of Tigard tries to make all reasonable modifications to ensure that people with disabilities have an equal opportunity to participate equally in all city meetings. City of Tigard 1 13125 SW Hall Blvd.,Tigard,OR 97223 1 503-639-4171 1 www.tigard-or.gov I Page 1 of2 Upon request,the city will do its best to arrange for the following services/equipment: • Assistive listening devices. • Qualified sign language interpreters. • Qualified bilingual interpreters. Because the city may need to hire outside service providers or arrange for specialized equipment,those requesting services/equipment should do so as far in advance as possible,but no later than 3 city work days prior to the meeting.To make a request,call 503-718-2481 (voice) or 503-684-2772 (TDD-Telecommunications Devices for the Deaf). TOWN CENTER ADVISORY COMMISSION AGENDA City of Tigard 1 13125 SW Hall Blvd.,Tigard,OR 97223 1 503-639-4171 1 www.tigard-or.gov I Page 2 of2 CITY OF TIGARD TOWN CENTER ADVISORY COMMISSION Meeting Minutes May 11,2022 Members Present: Travis Diskin,Lindsay Greg, Renette Hier,Adrian Hinckley, Carolyn Hyink (Alternate),Tom Murphy (Chair), Kate Rogers, Chris Sjolin,Justin Watson (Ex Officio), and Derrick Wright. Members Absent: Scott Hancock (Vice Chair), and Elise Shearer. Staff Present: Redevelopment Project Manager Sean Farrelly, and Sr. Administrative Specialist Joe Patton. Others Present:Just Compassion Executive Director Dr. Vernon Baker,DIG Real Estate: Development Manager John MacKinnon, Principal Brenner Daniels, and Principal Josh Daniels. 1. CALL TO ORDER Chair Murphy called the meeting to order at 6:30 pm.The meeting was held remotely using MS Teams. 2. CONSIDER MINUTES The April 13, 2022,TCAC Minutes were unanimously approved. 3. CALL FOR NON-AGENDA ITEMS—N/A 4. PUBLIC COMMENT—N/A 5. FOLLOW UP FROM PREVIOUS MEETINGS—N/A 6. JUST COMPASSION PRESENTATION Dr. Baker gave a brief presentation.Just Compassion formed in 2009 and offers a variety of services including a resource center, severe weather shelter, showers and laundry, and safe parking. There are an estimated 630 unhoused adults in Washington County. A new building is planned to host more services, but additional funding is needed. 7. APPLICATION FOR TRIANGLE DEVELOPMENT ASSISTANCE PRESENTATION Sean will score the application using the established criteria and the City's real estate advisor will evaluate the pro forma to provide a recommendation to Commissioners at the next meeting for their deliberation. DIG Real Estate gave a presentation on the project overview,property location (SW 70 and SW Hamilton), other DIG buildings, mass transit proximity,program criteria, and project summary. They are proposing a net zero/carbon-free building with 55 apartments and commercial on the ground floor. The target is two affordable housing units for ten years, one 1-bedroom and one 2-bedroom, 2-bathroom apartment. Page 1 of 2 TOWN CENTER ADVISORY COMMISSION May 11, 2022 8. EQUITABLE BUSINESS DEVELOPMENT WORK GROUP The workgroup plans workshops for businesses and residents on what kind of new businesses to attract to downtown. Potential meeting venues include the Shawn Gardner Dance Studio and the Library Burgess Community Room. Meetings will be in August. Council will receive a preview presentation on May 17. 9. HOUSELESSNESS IN TIGARD ISSUE Tom noted that the City is advertising for a Houselessness Program Manager. That will allow a full time focus on the issue as currently it is an additional duty for the Police Chief and Library Director. Sean will find out how many applicants there were once the application deadline passes. They can provide updates to TCAC. 10. PROJECT UPDATES Sean briefly reviewed the updates included with the Agenda. 11. DOWNTOWN PARKING UPDATE Sean noted a steering committee, comprised of different city departments and three downtown business owners,had discussed options such as new time limits and establishment of a new downtown parking permit program. Council will be given a briefing in May. At the end of the year Council will be asked to approve recommendations made by the steering committee. 12. TCAC MEETINGS A survey was circulated to Commissioners regarding meeting start time. The consensus was that a 6:00 pm start time would work. It will be implemented for the summer and reevaluated if necessary. 13. LIAISON REPORTS —N/A. 14. NON-AGENDA ITEMS A. Derrick suggested the need to form an organization in the Triangle similar to the TDA. He would also like to see public restrooms built in the Triangle in public areas. A future meeting will include a public space discussion. B. The Universal Plaza groundbreaking is on May 26 from 5:30 to 6:30 pm. 15. ADJOURN BUSINESS MEETING The meeting adjourned at 8:30 pm. Joe Patton,TCAC Meeting Secretary Tom Murphy, Chair Page 2of2 � � r �e E ■ �- Irit'i� } 'WN O Q; DIG Real Estate 7035 SW Hampton St., Tigard, OR DEVELOPMENT ASSISTANCE GRANT PRESENTATION May 11, 2022 LLLLJ BRENNER DANIELS JOSH DANIELS q! Principal Principal ` o . Prior experience: • Site acquisition, entitlements, design, finance, marketing and working with the team in all Prior experience: facets to plan, design and execute acquisition, development,and redevelopment projects. • Real estate acquisition, development and leasing across multiple asset classes, as well as capital markets experience with equity and debt sources • Experienced real estate developer, investor and financier with well in excess of $2 billion in total transaction volume with institutional and private equity investors across most property CEO of multiple private operating businesses valued over$10 million types. • Experienced principal investor and entrepreneur with a demonstrated history of excess • Capital markets, mortgage banking,and real estate operational experience returns while managing investor capital and relationships over 20+years • Set multiple records for sales price per unit on disposition of garden apartments in Oregon Structuring, administering,and exiting partnerships and investment entities • Diverse governance experience with over 15 board roles with for-profit and non-profit • Licensed Real Estate Broker in the State of Oregon organizations. • ULI and NAIOP member • YPO Oregon and Gold Chapter, Member and Officer • B.A., Economics, University of Arizona • B.S., Economics,The Wharton School, University of Pennsylvania • Graduate Certificate- Real Estate Development, Portland State University MBA, Stanford Graduate School of Business PROJECT O Tigard, OR Mixed-Use Development with 55-apartments and ground floor commercial DEVELOPER ASSISTANCE NEEDED TO MAKE PROJECT A REALITY • Pursuing Energy Trust of Oregon's "Path to Net Zero" program: 0 Targeting Energy Use Intensity(EUI) rating of 8 with solar; typical Multi- Family EUI is 50+ ■ ► DE-CARBONIZED FOSSIL FUEL FREE BUILDING - fully electrified building • AFFORDABLE: Targeting - 4% of apartments (2) as affordable for 10-years MARKET REALITIES ARE WORKING AGAINST PROJECT ' Interest rate surge means project cost has increased dramatically (10-year treasuries '1 s up 150 bps since January 1, 2022); construction rates up from 4+% to 7+% "ffInflation is increasing prices by 2 - 2.5% PER MONTH. • Supply chain and labor challenges have added additional complexity to the project. Q EXCELLENT TIGARD TRIANGLE LOCATION; CLOSE TO PORTLAND • The Tigard Triangle is undergoing dramatic pedestrian-forward, dense redevelopment. . Tigard Triangle has 5X more jobs than residents; development will reduce congestion and commutes. Tigard market's desirability and lack of supply and new construction means rents are surging. PROPERTY LOCATION TIGARD TRIANGLE IS THE EPICENTEK OF THE PORTLAND METRO The Tigard Triangle is centrally located at the i junctions of three major transportation corridors ti� $ that define the Triangle: Interstate 5, state yes — Poartid highway 217, and state highway 99W. These rtl highways provide excellent regional connectivity with Portland and Vancouver to the north, Wilsonville and Salem to the south, Beaverton and Beaverton Hillsboro to the west, and Lake Oswego to the east. WASHINGTON SQUARE M It shares a border with the City of Portland and `y some tenants in the Triangle are able to claim a Portland address without having to pay Portland -- Tigard rents. The Lake Oswego city limit is directly east of ` 1�1 Lake 1-5, including Kruse Way, which is home to some of BRIDGEPQRT Oswego. the most desired class A office space in the state " ' ` L " ° EA R of Oregon. Costco Walmart Lowe's Regal Tualatin Cinemas and George Fox College are all located in 1-205 Nthe Tigard Triangle, as well as over 250 other SGLE=QS'= v businesses and 7,600 jobs. Figure 1.2 City of Tigard regional map Tigard Trla Wa� ` Property Location Sw�He�rrio's Way_'--- d .. _ .' � •�' .,i � * � •Ha p[o�Rark Aparlme�l[5'. - . •�,•, _- a•�rifipus Dien � _ - �y :_��i �•~ � � �' � ���assay Family Medicine • �L n •Improve ride' � .,tir:T .•Hayden neri[al dare . V7 .. H�, F�_-' _ l_ liui� Rental• tan•Cen[er a, - � ; tp IIPaec-i�fle• arkway Cen[ I aoe Landsat% t s .ve - DIG TRACK RECORD *The following are a small sample of qround up developments Brenner was responsible for durinq his tenure at Holland Partner Group - G 1� , m II �Q r I - ff7 err t • KADO 230 apartments, including 14 penthouses on the top two floors and an 196 apartments,including 3 live/work apartments on the ground floor. 240 garden style apartments located in Tigard, Oregon. Sygnii amazing rooftop deck in a Type I high-rise. There is also-6,000 feet Kado also includes-8,000 square feet of ground floor retail. Kado is apartments range from 1-3 bedrooms giving residents good variety and of ground floor retail leased to Go Poke and Roste Chocolate House. well located in Portland's Alphabet District, known for its shopping, a well-amenitized development to call home in this incredible area.This Incredible location in the Pearl District near amenities such at 1OBarrel. restaurants and tree-lined streets. development is well located on an infill site mid-way between Murray Hill 6 and Washington Square Mall,one of the largest regional retail centers in the state of Oregon. EXCELLENT LOCATION IN TIGARD TRIANGLE /U35 SW HAMPTON STREET HAS GREAT PLACE SCURE, VALUE/AUHL, WALKABILITY AND TRAFFIU SAFETY _ € f Tigard Trianglewallm6le Small Business f —� alking In the Tigard Irianglej TigardTriangleTraffic5aFetyi y Short-term mixed-use tleimI�� Omp- m, s t t € f DEVELOPMENT SITE RANKS AMONG THE HIGHEST AND MOST DESIRABLE IN AREA s In a 2016 study performed by Portland State University for 7 ��� City of Tigard, 7035 SW Hampton St. ranks in the top 20- ii=fir_-� a 40% within the Tigard Triangle for Place Score, rkdstree[ tong"[en„mi derelopmem aM t value/acre, walkability, and traffic safety. Traffic rmpnrvemeres. Md' F E volumes are also low on Hampton Street, supporting State of Place Raw Score 1 ...m...s a �Tep 20% x i ......n L)Mr 70% �. ,, pedestrian-friendly suburban living. MNdM 10% tower'40% 90 m 20% Value per Acre rt r Over H mll. ..+..n State of Plan Scars i ••�° Legend t[Y-50% `Od 57 mil..$ 3 mi. %% -Sidewalk {" S[.".-f2 mY. +][%-30% ""^""' �Reg:ona[Trrl I�� T. SII%-30% "' -Nelglbprhppdi I• Vnderfl nil. sn.•ee of s•t..e '' mwowren ,� ^ �Q%•IO% sw«via nw�. C��1.,�„ ua.F i imo 7 Property Location MASS TRANSIT TODAY AND TOMORROW BUS, PARK & RIDE TODAY COULD LEAD TO MAX LIGHT RAIL IN THE FUTURt Expo Center Airport Transit in the TigardTeiangie' s TODAY'S TIGARD TRIANGLE ease Quarter Go[ewa � r. IS AUTO—CENTRIC, BUT THE 5==on- iPioneer Squarey g 3 r FUTURE COULD INCLUDE Hillsboro j _� � � Beaverton DSII aY Gresham ' min a ea 1. p }© V MAX LIGHT RAIL IT . el The Southwest Corridor Light Rail Project is a T Tigard ^ Milwaukie 7 Clackamas wckamasr SOUTHWEST CORRIDOR proposed MAX light rail line that would provide a 20- _ , rualatin V la ort minute trip between Downtown Portland and Tigard. —� ^' ai � Sihha ry The high-capacity transit project was planned for prk&Rid, Hamilton 5 Wilsonville ��n■�Southwest Ca r ridor I F one of the most congested travel corridors in the 17 region, and to support the estimated 400,000 new 13th 3otn residents expected by 2040. It would include P 14111 a� I d�h53rd r iranstCeMer rn 'r bir coordinated investments to foster connected, `�� Property affordable communities where all people can live, Hall e El r51 Location Legend ® Bus Stop �� work and thrive. „ R„ Park"Ride Bonita Frequent Bus Service miles ro m Although the project is currently on hold, there ispperBoonesFerry Proposed MAX Standard Bus Service £ '"'"'°� -64 ~..n * Ile '_N optimism that it will qualify for federal funding and " p wY,a..ca sca Axa Bridgeport P ALE„_=, = e under construction in the medium-term future. Light Rail Station CURRENT BUS SERVICE AND FUTURE PORTLAND METRO LIGHT RAIL PARK & RIDE LOCATION PLAN TO SOUTHWEST CORRIDOR Property Location 8 i PROGRAM CRITERIA ff PROVIDES PUBLIC AMENITIES • Improved sidewalk, new street frontage landscaping for SW Hampton, SW 70th. • Public bicycle parking. - • Possible public seating & tables • Pocket park on east side of development (exceeding 2000 sq ft). - • Commercial ground floor and public outdoor space exceeding 2,000 sq ft. Iilia : PROVIDES EQUITABLE ECONOMIC OPPORTUNITIES x=- • Two affordable apartments to be provided at 80% median family income. -- • One 1-bedroom apartment and one 2-bedroom, 2-bathroom apartment to be provided for affordable. .4 PROGRAM CRITERIA - CONTRIBUTES TO PLACEMAKING AND LOCAL I IDENITY • Timeless, aesthetic building • Over 50% of building frontage allocated for commercial use • Architectural features serve as placemaking landmarks • Custom metal screening included as functional art installation IMPROVES MULTIMODAL CONDITIONS • Walking distance from five TRIMET bus stops (0.05 miles to 0.21 miles) • Approximately 0.4 miles from future Max Light Rail stop • Electric vehicle (EV) charging stations. Possible EVs for residents • Bicycle proximity to PCC Sylvania (1.9 miles), nearby offices, and commercial locations. • Public bicycle parking • In-building parking to limit on-street parking and congestion. i PROGRAM CRITERIA ff MITIGATES ENVIRONMENTAL OR STORMWATER ISSUES IN TIF DISTRICT • Sustainability advisors engaged for Path to Net Zero Energy, high energy efficiency, and stormwater mitigation. _ • Zero fossil fuel building. • Electric vehicle(EV)charging stations. Possible EVs for residents. t III LOCATED IN A PRIORITY AREA OF THE TRIANGLE • Located 1000 ft south of priority area .17 • Additional apartments in an underserved area. '- • Proximity to Highway 217, Interstate 5, and Highway 99W promotes access to ti - Tigard Triangle as a whole. R ' • Proximity to office spaces allows walk-to-work. t F .4 71- , PROGRAM CRITERIA 1 Q PROMOTES HIGH-QUALITY, PEDESTRIAN- FRIENDLY URBAN DESIGN 1 t Leeb Architects engaged for building design. Portland-based firm 1 with over 40 years, experience. DIG has previously collaborated with 1 Leeb. ,1 • High-quality building materials (board formed concrete, James Hardie siding, Equitone). • Architectural features: Decks, canopy and weather protection. Architectural "notch," including possible architectural lighting. • In-building parking. Hidden from public view. • Improved sidewalk, new street frontage landscaping and public amenity space for SW Hampton, SW 70t" • Public bicycle parking 0 Possible public seating PROJECT SUMMARY REQUESTING DEVELOPER ASSISTANCE GRANT FOK UPTIONAL PROJECT ENHANCEMENTS PATH TO NET ZERO & DE-CARBONIZED ENHANCEMENTS: Triple Paned Windows (incremental): $92,000 Roof Insulation (incremental): $48,000 Wall Insulation (incremental): $145,000 ERV's (Energy Recovery Ventilation) in apartments: $242,000 Heat Pump Water Heaters (incremental): $138,000 Solar Panels & System: $250,000 Consulting: $100,000 10% Contingency: $101,500 Subtotal: $1,116,500 OTHER ENHANCEMENTS: Undergrounding of Lines *: $400,000 Affordable Apartments (2 apts, —4% of total, 10 years): $48,000 Subtotal: $448,000 Total: $1,564,500 * Not required by Code as they are high voltage lines CONTACT US BRENNER DANIELS JOSH DANIELS Principal Principal Mobile(503) 819-2076 Mobile(503)277-8300 www.digrealestate.com ■ Agenda item 9 6/1/22 TIF District Prosect Updates TCDA Budget • Proposed TCDA Budget goes to TCDA Board on June 7 for final approval City Center TIF District 1. Universal Plaza • Groundbreaking ceremony on May 26 • Construction on target for June- December 2022 2. Main Street Green Street Phase 2 • Construction underway 3. Senior Center Affordable Housing • Construction underway(14 months duration expected) 4. Main Street at Fanno project • Permits being reviewed 5. Building Improvement Grants • New application received for 12255-12297 SW Main Street 6. Nick Wilson Fanno Creek Overlook • Design and engineering funding in proposed FY22-23 budget 7. City Facilities Consolidation (only parking structure is TIF funded) • Council decision to come on referring to future ballot 8. Downtown Reimagined • Scheduling summer public outreach • Public Engagement plan will include TCAC presentations/feedback opportunities, Downtown stakeholder focus group, and affordable housing focus group 9. Downtown Parking Strategy • Council was briefed on May 17. • Additional steering committee meetings will be scheduled to work out final recommendations for parking changes Agenda item 9 Tigard Triangle URD 1. Affordable Housing • REACH Dartmouth Crossing North design and engineering underway 2. The Overland (Dartmouth and 72"d Mixed Use) • Project should be completed by September 3. Red Rock Creek Trail Planning • ODOT grant to study trail alignment to start spring 2022 4. Mixed Use Path over Highway 217 • Project on hold pending until clarity on SW Corridor 5. Parks • Agency to investigate additional properties 6. Opportunity Fund • Marketing materials distributed to City's partners(e.g MESO,Adelante Mujeres), property owners,and brokers • A couple of initial inquiries have been made 7. Infrastructure • Staff met with REACH and Public Works on the scope of offsite pedestrian infrastructure in the Triangle