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02/11/2015 - Packet Completeness Review for Boards, Commissions ' and Committee Records CITY OF TIGARD CCAC - City Center Advisory Commission Name of Board,Commission or Committee February 11, 2015 Date of Meeting I have verified these documents are a complete copy of the official record. Joe Patton,Meeting Secretary Print Name ignaturc March 12, 2015 Date City of Tigard City Center Advisory Commission Agenda MEETING DATE/TIME: February 11, 2015 — 6:30 to 8:30 p.m. MEETING LOCATION: Red Rock Conference Room, 13125 SW Hall Blvd., Tigard, OR 97223 1. CALL TO ORDER Carine 6:30 Welcome and Introductions 2. CONSIDER MINUTES Carine 6:35 3. NON-AGENDA ITEMS/PUBLIC COMMENT Carine 6:40 4. ENTERPRISE ZONE Lloyd Purdy 6:45 Information on new Enterprise Zone (jiartially in UR District 5. URBAN RENEWAL FINANCIAL FORECAST Sean 7:00 6. FY 2015-16 CCDA BUDGET PROPOSAL Sean 7:20 7. DEBRIEF CCDA/CCAC JOINT MEETING Carine, Linli, Sean 7:30 8. ADOPT DRAFT CCAC 2015 GOALS Carine 7:50 9. DISCUSS KIOSKS IN DOWNTOWN Ravi, Sean 8:00 10. EXECUTIVE SESSION* Sean 8:10 11. LIAISON REPORTS All 8:20 12. ADJOURNMENT Carine 8:30 *EXECUTIVE SESSION:The Tigard City Center Advisory Commission may go into Executive Session to discuss real property transaction negotiations under ORS 192.660(2) (e).All discussions are confidential and those present may disclose nothing from the Session.Representatives of the news media are allowed to attend Executive Sessions,as provided by ORS 192.660(4),but must not disclose any information discussed.No Executive Session may be held for the purpose of taking any final action or making any final decision.Executive Sessions are closed to the public. Upcoming meetings of note: Tuesday,March 3,6:30 p.m. CCDA Board Meeting,City Hall Wednesday,March 11,6:30 p.m.,Regular CCAC Meeting,Red Rock Creek Community Room CITY CENTER ADVISORY COMMISSION AGENDA— February 11, 2015 City of Tigard 1 13125 SW Hall Blvd.,Tigard,OR 97223 1 503-639-4171 1 www.tigard-or.gov I Page 1 of 1 CITY OF TIGARD CITY CENTER ADVISORY COMMISSION Meeting Minutes February 11, 2015 Members Present: Carine Arendes (Chair),Deanie Bush,Joyce Casey,Laura Fisher, Richard Shavey, Sherrie Devaney, and Ravi Nagaraj (alternate) Members Absent: Linli Pao (Vice Chair), Lynn Scroggin, and Paul Miller Staff Present: Downtown Redevelopment Project Manager Sean Farrelly, Economic Development Manager Lloyd Purdy, and Senior Administrative Specialist Joe Patton Others Present: Councilor Marland Henderson, Council Liaison to the CCAC,Local Realtor Neal Brown, and TTAC Liaison Elise Shearer 1. CALL TO ORDER Chair Arendes called the meeting to order at 6:30 pm. The meeting was held in the Tigard Red Rock Conference Room, at 13125 SW Hall Blvd.Joe recorded the roll call. 2. CONSIDER MINUTES The January 14, 2015 CCAC Minutes were approved. Laura abstained. The December 10,2014 CCAC Minutes were approved. 3. NON-AGENDA ITEMS/PUBLIC COMMENT A. A presentation by Suenn Ho will occur on February 23 at 3:30 p.m. at the Public Works auditorium. Chair Arendes called for public comment. There was none. 4. ENTERPRISE ZONE Lloyd announced that Tigard had authorized Rogers Machinery as its first Enterprise Zone company. He discussed a brief background of the Enterprise Zone including what types of businesses qualify, requirements to qualify for the three-year tax abatement,and the areas in Tigard covered by the zone. A section of the Downtown URD is included in the zone. Each Enterprise Zone lasts for 10 years, then it must be renewed. 5. URBAN RENEWAL FINANCIAL FORECAST Sean gave an overview prepared by ECONorthwest including analysis of property type in the district,land use type,improvement to land value ratio, historical growth, assessed value forecast, comparison to previous forecasts, and borrowing assumptions. 6. FY 2015-16 CCDA BUDGET PROPOSAL Sean discussed the proposed CCDA budget for FY 2015-2016. There are still some unknown budget items such as the installation of the gateway artwork. Elise noted that Wells Fargo is one of the top donors for art projects in the metro area. She suggested approaching them about a partnership to cover the installation costs so the project can be completed this fiscal year. The importance of showing visual progression through installation of the artwork was noted. A letter Page 1 of 2 CITY CENTER ADVISORY COMMISSION February 11,2015 supporting the completion of the art project installation, at both gateways,by the end of the 2015 calendar year will be submitted to Council/Board of the CCDM. 7. DEBRIEF CCDA/CCAC JOINT MEETING Linh previously provided notes on the meeting. There were no additions. 8. ADAPT DRAFT CCAC 2015 GOALS Carine will work more on the development incentives. Ravi will work on goal 3. For Goal 4 the liaisons will be Ravi for the TTAC, Paul for PRAB, Carine for the CODA axed Joyce offered to be a backup as needed.Joyce offered to help develop the communications plan. Goal 2 was modified to include the view of downtown from Hwy 99\X'and the.Goals for 2015 were adopted. 9. DISCUSS KIOSK IN DOWNTOWN This topic was postponed until a future meeting in the interest of time, 10. EXECUTIVE SESSION The regular meeting was recessed at 8:29 pm for an Executive Session to discuss real property transactions in accordance with ORS 192.660(2)(c). The Executive Session was closed and the regular meeting reconvened at S:44 pin. 11. LIAISON REPORTS A. Carine gave a CCDA update including the property transfer, focus at )anuary meeting on Hwy 99W congestion,approval of the Brownfield inventory consulting contract, on track for the intergovertamental agreement (I GA) with other jurisdictions, and the TDA is looking at the Urban Renewal Plan. She noted that the TDA is still working on its nonprofit status. B. Scan informed PRAB about the property=purchase. C. A presentation on highway, local roads and street safety for non-engineers took place at the Februaq 4 TIAC ineeting. 12. ADJOURNMENT The meeting was adjourned at 9:52 pm. Joe f4tton, CCAC keeting Secretary 1 AIV,ST: i e Arendes, Chair Page 2 of 2 T1' ardls�4*�T s � r -(Supporting business growth andjob.creation in ENTERPRISE ZONE OVERVIEW Tigard's Enterprise Zone supports local business growth and job creation within the city. - = Businesses located in Tigard's Enterprise Zone may be eligible for a three to five B U I L D I N G S year tax exemption on new equipment,facilities and buildings. Tigard's Enterprise Zone Program offers a 100 percent waiver of real property tax on eligible investments for up to five years.These investments must meet state and local requirements, including a 10 percent increase in employment. Land and existing equipment are not eligible for the Tigard Enterprise Zone E M P L 0 E E S exemption. Once the abatement period of three to five years is over the entire asset enters the tax role. Efl- ENTERPRISE ZONE ELIGIBILITY The property and investment for industrial, manufacturing and commercial firms must be located within the Tigard Enterprise Zone boundaries, and meet the state EQUIPMENT and local requirements found on the next page. BROCKMAN ST Portland Washington ti B e a v e Square ' D Shopping 2 WEIR fir' RD Center A FACILITIES r Tigar i Triangle pr MOOTH 6T �y N WALNUT ST �p � 61 Tigard Tigard �i GAARDE 6T MCDONALD 6T BULL M ouNT I 0 BONITA RD I S Lloyd Purdy „ Economic Development Manager 1-+ % a Pac Trust/ 503.718.2442 DURHAM RD Or Bu in La Os w eo Pak s City .f Tigard oi �IUi..a Tli�m••i 1 Community Development Department 250 b a a,ild t in Durham.. 13125 SW Hall Blvd.,Tigard,OR 97223 www.tigard-or.gov Tigard's Enterprise Zone,shown above shaded in green,is as inclusive as possible given state requirements. This was done to allow as many businesses as possible an opportunity to participate. STATE REQUIREMENTS Written Agreement: Participating business is required to enter into a written - agreement with the municipality that will be based on the terms of the company's Authorization Application and Oregon Statute and Administrative Rules. First Source Hiring Agreement(FSA): Prior to or concurrently with the execution of the written agreement,firm shall enter into an FSA with WorkSource Oregon Employment Department for employees hired at the qualified facility throughout the project's construction and tax exemption period. Supporting business growth Employment Qualifications: By the first exemption filing,firm must increase and job creation in Tigard employment(and maintain that throughout the exemption period) by 10 percent in the zone. LOCAL INCENTIVES Expedited Land Use Review. Fast tracking of the land use review process. Tigard's Enterprise Zone was created Fee Waivers: The following fees are also waived by 50 percent: in 2014 to induce additional private- A. Pre-application conference fees sector investment and jobs as well B. Business registration fees as a short-term benefit to a project's C. Sign permit cash flow. D. Development Code provision review ■ Encourage Tigard-based entre- Extended Abatement: The City Council may extend the standard exemption by up to preneurs and firms to start up two more years if the qualifying company increases employment by 10 percent and grow. each year and new jobs are compensated (wages plus benefits)at 200 percent of • Prompt bigger re/investments Oregon minimum wage(Oregon minimum wage is$9.10 per hour as of 2/2014). than might otherwise occur. LOCAL REQUIREMENTS ■ Accelerate investment,expan- In addition to state requirements,the City of Tigard has elected to add the following sion and hiring. requirements to its Enterprise Zone program: • Expand employment. Minimum Investment: A minimum investment of$500,000 is required. ■ Bolster early success of business procurement Plan: A procurement plan to increase purchasing with Tigard-based projects. companies is required. ■ Attract investment and facilities Job Quality. that would move or locate A. Total compensation for 75 percent of company's zone facility jobs(wages plus outside of the City of Tigard. benefits)must exceed 200 percent of Oregon minimum wage after one year of employment(Oregon minimum wage is$9.10 per hour as of 2/2014); B. Must provide benefits to employees that meet or exceed the national average of non-mandated benefits for the size of the company,and C. Must offer sufficient training and advancement opportunities for all employees. Application Fee: There is an application fee of one tenth of one percent(.001)of the value of the investment for qualified property that is proposed in the application,capped at$50,000. Community Service Fee: Companies applying for the extended abatement of up to two additional years must pay a community service fee.This fee is calculated at a rate of 25 percent of the abated taxes for years four and five,and is paid by the eligible Lloyd Purdy business to the City of Tigard. Economic Development Manager 503.718.2442 EXPRESSION OF INTEREST If you are interested in participating in Tigard's Enterprise Zone, please contact the City of Tigard Community Development Department City of Tigard's Economic Development Manager Lloyd Purdy at 503.718.2442. 13125 SW Hall Blvd.,Tigard,0R 97223 Businesses interested in Tigard's Enterprise Zone program can obtain the state www.tigard-or.gov application online at: http://www.oregon.gov/DOR/PTD/docs/303-029.pdf 2/3/2015 ECONorthwest ECONOMICS• FINANCE-PLANNING Tigard City Center URA Forecast of TIF Revenues Nick Popenuk ECONorthwest Feb.3,2015 ECONorthwest AV by Property Type ECONOMICS FINANCE PLANNING 10% 9% ®Real ❑Personal ❑Utility 81% ❑Manufactured 1 2/3/2015 a rLand Use n � i K y AVE - ST -11 RO co,M i sT• 01 S ii FR <tiGTST eN2iFsr 2y9� Land Use(RLIS, Nov 2014) sT LANDUSE Single Family Residential y-� .• Multi-Family Residential I s Commercial Public a P �( �' `� e s •.��Pl Exempt/Utility P�� �� yC� ��� �"�'•' n Tract Land N 5 , -1 Vacant ECUNorthwest Land Use ECONOMICS • FINANCE•PLANNING 1 Acres Parcels Real Property Land Use Number Percent Number Percent Number Percent Condominium 0.0 0.0% 0 0.0% $ - 0.0% Single-family residential 3.1 1.5% 15 7.8% $ 2,037,810 2.6% Multi-family residential 8.6 4.2% 9 4.7% $ 7,217,370 9.1% Manufactured park 2.9 1.4% 3 1.6% $ 1,744,060 2.2% Commercial 74.0 36.3% 121 62.7% $ 68,160,080 85.6% Industrial 0.0 0.0% 0 0.0% $ - 0.0% Rural/Ag/SWO 0.0 0.0% 0 0.0% $ - 0.0% Public/Exempt 114.1 56.0% 35 18.1% $ 159,470 0.2% Vacant 1 0.91 0.5% 101 5.2% $ 329,240 1 0.4% Total 1 203.61 100.0%1 1931 100.0%1 $ 79,648,030 1 100.0% 2 2/3/2015 a AV / RMV Ratio.-- ,AVE atio.SAVE •� -s G � r r�cgRosw CoM ����� � •� aF/, \ C% S • ��y -<_� 41 / Q u ��� �� �•S, .. GPP i� 3�P u3i ip 5 r u � N 9C�'Gr kFN2iF ` i 9�'y AV as Percent of RMV Under 60% z s� !'�� s`y••; j 60-89% F2 Pia S 90%+ PN S� •.a+`� N Exempt a Vacant Land N.. 17 o n 3 A 3' ,\AVE �i Il �dGG" CO, r:N�! � 1yy \ u S� S� ..• � �e, � \ RO `LACMGl C),FM2iF Vacancy Status S spy Not Vacant Vacant Exempt Vacant 3 2/3/2015 Improvement to ,7 Land Value Ratio A - 84/ Gq RCS CO "S x sw s,y� G R Improvement/ Land Value S/ Exempt - No Improvements M .01 -1.00 Ilks P P� ky�<<' 1.01 -2.00 F T2s �Pr Sr 2.01 -4.00 �y N - Greater than 4.00 ECONorthwest Historical AV Growth ECONOMICS • FINANCE•PLANNING City of • • • • • FYETotal Total Total 2008 $ 72,433,669 $ 4,572,357,820 $ 41,696,683,430 2009 $ 7815301005 $ 4,741,943,700 $ 43,863,121,849 2010 $ 89,594,452 $ 4,914,142,310 $ 45,399,482,562 2011 $ 95,604,035 $ 5,028,671,727 $ 46,801,868,237 2012 $ 95,335,863 $ 5,158,911,772 $ 48,236,782,160 2013 $ 92,888,162 $ 5,277,344,468 $ 49,355,659,075 2014 $ 96,205,944 $ 5,444,705,020 $ 51,180,241,430 2015 $ 98,217,709 $ 5,683,006,297 $ 53,515,861,950 AAGR 4.4% 3.2%L 3.6% 4 2/3/2015 ECONorthwest Historical AV Growth ECONOMICS • FINANCE-FLAWNG 16% 14% 12% 10% 8% 6% 4% = _i 2% ;�7 0% 2009 2010 2011 201 201 2015 2% -4% —URA --City County ECONorthwest Historical AV ECONOMICS • FINANCE•PLANNING 120 100 80 H C 60 - 40 20 2007 2008 2009 2010 2011 2012 2013 2014 2015 ❑Frozen Base ❑Excess Value 5 2/3/2015 ECONorthwest Assumptions for TIF Forecast ECONOMICS • FINANCE-PLANNING ■ Growth Rates — Real: 4% — Personal: 1 % — Utility: 1 % ■ Known projects: 166-unit mixed-use bldg ■ Overall growth rate: 4.3% ECONorthwest Assessed Value Forecast ECONOMICS • FINANCE PLANNING 200 180 ..- 160 I `/ 140 ' 120 100 80 60 40 20 L 2007 2012 2017 2022 2027 ❑Frozen Base ❑Excess Value 6 2/3/2015 ECONorthwest Impact of Mixed-Use Project ECONOMICS FINANCE-FLAWNG 200 180 I 160 140 - 120 - I 100 - 80 60 40 20 2007 2012 2017 2022 2027 ®Frozen Base ®Excess Value ❑Excess from Mixed-Use Project ECONorthwest TIF Forecast ECONOMICS • FINANCE•PLANNING Percent FYE Frozen Base Excess Value Total Value Growth — — — 2015 69,207,378 29,010,331 98,217,709— — — 2.1% — — — — — — — — — — — — — — — — — — 2016 69,207,378 32,381,360 101,588,738 3.4% 2017 69,207,378 35,881,678 105,089,056 3.4% 2018 69,207,378 44,393,980 113,601,358 8.1% 2019 69,207,378 48,363,529 117,570,907 3.5% 2020 69,207,378 52,486,137 121,693,515 3.5% 2021 69,207,378 56,767,871 125,975,249 3.5% 2022 69,207,378 61,215,039 130,422,417 3.5% 2023 69,207,378 65,834,199 135,041,577 3.5% 2024 69,207,378 70,632,171 139,839,549 3.6% 2025 69,207,378 75,616,047 144,823,425 3.6% 2026 69,207,378 80,793,205 150,000,583 3.6% 2027 69,207,378 86,171,316 155,378,694 3.6% 2028 69,207,378 101,781,874 170,989,252 10.0% 2029 69,207,378 107,987,079 177,194,457 3.6% 2030 69,207,378 114,434,172 183,641,550 3.6% 7 2/3/2015 ECONorthwest Comparison to Previous ECONOMICS • FINANCE • PLANNING Forecast ■ Previous forecast done in FY 2012-13 ■ Actual TIF has been 4% higher than forecast (improving market conditions) ■ New forecast is 13% higher —Additional $1 .5M over 15 years — Mostly due to mixed-use project (11 % out of 13%) ECONorthwest Borrowing Assumptions ECONOMICS • FINANCE •PLANNING ■ No new debt without refinance of existing CCDA Loan (balloon payment) ■ Borrow at least $2M at a time ■ Maintain at least $200,000 / year for TIF operating/program costs 8 2/3/2015 ECONorthwest Results ECONOMICS • FINANCE • PLANNING ■ $625,000 in resources next year (2015-16) ■ Resources constrained through 2017-18 ■ $3M new loan in 2018-19 ■ $2M new loan in 2023-24 ■ $1 .3M from land sale by 2024-25 ■ $5.4M new loan in 2028-29 ■ Use $17M of $22M in MI by 2030 ECONorthwest Results ECONOMICS • FINANCE PLANNING 6 5 4 V) C O 3 2 1 2015 2020 2025 2030 ❑TIF D Rent ❑Loans 0 Land Sales 9 2/3/2015 ECONorthwest ECONOMICS • FINANCE • PLANNING Questions? Nick Popenuk ECONorthwest popenuk@econw.com 503-222-6060 10 Proposed FY 2015-16 CCDA Budget Urban Renewal Project I Description Budget Professional and Technical Services Legal Services Le al services for urban renewal agency $20,000 Urban RenewalAdvisors Financial and development consulting $15,000 Total Professional and Technical Services $35,000 Planning and Development Assistance Strolling Street Landscaping Landscape architecture services and funding to complete two new $30,000 Improvements improvements on semi-public areas adjacent to public streets. Redevelopment Studies Architectural studies and financial analysis for potential $105,000 redevelopment projects. Total Planning and Development Assistance $135,000 Public Spaces Public Space Study and Study new property for suitability as public space and concept design $30,000 Design Public Space Properly Acquire new public spaces $770,000 Acquisition Total Public Spaces $800,000 Total New Requests $970,000 Debt Service Debt Service $166,799 UR Resources Estimated TIF $397,000 Rental Income $86,000 Ending Fund Balance Interest Parks Bond: Downtown $770,000 Total $1,253,000 Vice Chair Linli Pao's summary of February 3 CCDA/CCAC Meeting. (from Feb.3 e-mail) Director Woodard said o That he'd like us to keep the Veteran's Memorial,Tigard Trail, and Public Restroom in mind. o Would like us to investigate feasibility of generating money via brick donations at the library(Chair Cook pointed out that contribution walkways often had costs that exceeded the amount donated because engraving and building the brick structure often cost more). o Would like to see what CCAC sees for the development in order to activate the other side of Main Street- maybe another strolling streets project? o Art on the Overpass ■ Would like CCAC to brainstorm features that would work for making the rooftops interesting (this was seconded by Chair Cook and Director Snider); several examples were laid out such as art on the rooftops, or lighting features. It was noted that they'd received input from art and business folks and would now like to see input from CCAC ■ Paraphrased by Director Snider: How could or should we exploit that [rooftops] to the best use to promote and attract people and make downtown interesting. ■ Would like to see something interesting like the facade improvement program - anything but just looking at HVACs; maybe spotlights, living roofs, accent art o Conduct a preliminary discussion of how the street signs ordinance could be improved or changed (he clarified that this is not a request to determine legal language for the ordinance, but rather a "these types of ordinances lead to this type of signage development" exercise. o The Bubble for the Tigard Street Fair in the Bubble Chart should be getting progressively bigger Director Snider o After prompting from Richard's advocacy of CCAC receiving information at the same time Council does, Director Snider chimed in and said he supported this proposition. After some discussion, it appears that getting information across sooner(instead of having CCAC receive information later than Council could be accomplished by holding more joint executive sessions. Chair Cook o Requested that CCDA receive an update on what future projects CCAC would like to see -essentially a report out of the prioritization in the TDIP The CCAC will be able to give input on getting some questions into the September 2015 survey, according to Ms. Wine.The TDA is looking into getting a banner across the Main Street and may need some financial help. That sums up the highlights of tonight. I might have missed something, but you can see the rest on public access television... Tigard City Center Development Agency ccm Downtown URA Work Plan Bubble Chart HIGH Public Works Tigard Street Trail Yard Redevelopment Main Street Property Redevelopment Ash Avenue Railroad Crossing Vertical HousingProperty _ IR Acquisitions Brownfields —0Development Zone Initiative Fan Creek+ 0 Additional Public Space Main Street Downtown Parking Strolling Street Management" a Main Street 4+ Redevelopment <� and Public Space Gateway Public Property Acquisition Art Design& 4-0 and Planning Installation W TDA Capacity TDA Capacity Public Space Design 4— Building Building and Development Q Developer Engagement Public Works Yard/2nd Site (CET Grant) > Main Street Green Street Main Street a) Phase I LGreen Street J Two TIPS, � Phase II ■ Projects Main Street Parking LID Burnham Street Parking Lot ® 8 Completed ■ 2 Completed 2 Completed Facade Projects Strolling Street Strolling Street Main Street Trail Main Street Projects Main Street Projects Main Street Street Fair Undercrossing Street Fair Street Fair Street Fair LOW I Lighting I I I I I I I MAR 2013 SEPT 2013 MAR 2014 SEPT 2014 MAR 2015 SEPT 2015 MAR 2016 SEPT 2016 MAR 2017 Time to Complete Circle size represents a project's relative impact on achieving urban renewal plan goals. New= A Moved= f Completed= ■ UPDATED JANUARY 2015 CODACity Center Development A enc Projected 2015 Policy Discussion and Action Items Meeting Date Topic February 3 Urban Renewal Financing: Review urban renewal finances with advisor CCAC joint meeting (including Bubble Chart updates) March Ash Avenue Housing Development: Approve development (proposed mtg) agreement Saxony PPA Future of Saxony Site Study— Introductory Presentation Art/Gateway Update April 7 Strolling Street Program Update Brownfield Initiative: Update and plans for Brownfields grant Downtown Dog Park Report May Ash Avenue Housing Design Presentation (proposed mtg) Downtown Events and Programming—Assessment and Future Options TDA Presentation June 2 Downtown Parking Plan Fanno Creek Remeander Presentation Fanno Creek Overlook Update July Southwest Corridor/Downtown Zoom-In (proposed mtg) Future of Saxony Site - Update August (no meeting, National Night Out) September 1 Ash Avenue Design & Permitting Update Six-Month report from the CCAC TDA Report October Strolling Street Update (proposed mtg) November 3 Brownfields Initiative Update Downtown Housing Inventory and Report Downtown Jobs Inventory and Report (Ec Dev Mgr) December 1 Annual Report on the Urban Renewal District Revised January, 2015 City Center Advisory Commission Draft Goals for 2015 Goal 1. Support implementation of current City Center Urban Renewal projects and programs Projects: • Ash/Burnham redevelopment • Public space (Tigard St. Trail, Fanno Creek Park improvements, etc.) • Gateway art Attract additional development: • Development incentives Goal 2. Support planning for Medium/Long Term projects • Main St / Green St Phase 2 Goal 3. Urban Renewal Plan review • Review City Center Urban Renewal Plan and prioritize future projects. Goal 4. Communications • Continue to liaise with other city boards and committees, as well as other groups (i.e. Tigard Downtown Alliance, SW Corridor Plan, etc.), on issues related to Downtown. • Develop a communications plan to proactively engage with the community on Downtown issues.