mcminnville urban renewal plan update
DESCRIPTION
P:. McMinnville Urban Renewal Plan Update. Public Open House. January 29, 2013. Presentation Agenda. Introduction and Greetings Background on Urban Renewal Planning for McMinnville Urban Renewal Process What is Urban Renewal and how does it work (UR 103)? Urban Renewal in McMinnville - PowerPoint PPT PresentationTRANSCRIPT
P:
McMinnville Urban Renewal Plan Update
Public Open House
January 29, 2013
Presentation Agenda
Introduction and GreetingsBackground on Urban Renewal Planning for
McMinnville
Urban Renewal ProcessWhat is Urban Renewal and how does it work (UR 103)?
Urban Renewal in McMinnvilleHow might Urban Renewal work in McMinnville?
Time frame/Next Steps / Questions Where can I get further information? What is the time frame for the
urban renewal plan?
Urban Renewal Process
What is Urban Renewal? Financial and planning tool used most often for
downtown revitalization and economic development.
Used to spur development in areas that otherwise would have remained physically deteriorated, unsafe or poorly planned.
Authorized by ORS 457.
Long term planning effort (25 to 30 years)
Urban Renewal Process
70+ active urban renewal agencies in Oregon.
Area examples: Sherwood Carlton Independence Monmouth Salem Keizer Woodburn
Source: Association of Oregon Redevelopment Agencies
Urban Renewal Process
How do you establish an Urban Renewal Area?
Complete a feasibility studyDevelop an Urban Renewal Plan:
Findings of blight Goals and policies Map of urban renewal area List of projects and funding sources Financial projections Fiscal impacts
Urban Renewal Process
How do you establish an Urban Renewal area (cont.)?
Consult with local taxing districts Public notice to all city residents Planning Commission reviewEstablish an Urban Renewal Agency Conduct a public hearingAdopt an urban renewal plan
Urban Renewal Process
How Does Financing in Urban Renewal Work?An area is designated as an urban renewal
areaThe tax assessed value of properties within
the area is frozenTaxes from that “frozen base” go to all taxing
jurisdictionsIncreases in taxes over the “frozen base” go
to the urban renewal agency for use in the Area
Urban Renewal Process -- Projected TIF Revenues --
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26$5,200,000
$5,300,000
$5,400,000
$5,500,000
$5,600,000
$5,700,000
$5,800,000
$5,900,000
$6,000,000
$6,100,000
Post-URA Tax Revenue Reveune Sharing TIF Revenue Frozen Tax Base
Years After Formation of URA
Taxes
Frozen Tax Base
TIF Revenue
Post-URA Tax Revenue
Urban Renewal Process
Property Tax Bills –Add all increases in Assessed Value in AreaDistribute Amount to all Property Tax Bills in CityDoes Not Increase Tax Bills, Just Shows the
Division of Taxes 2013 2013Property Value Property Value
$103,000.00 $103,000.00District Name
Yamhill County $265.48 $257.75Yamhill County Ext. Serv. $4.62 $4.49Yamhill Co. Soil & Water $3.65 $3.54McMinnville School Dist. $427.39 $414.94Willamette Regional ESD $30.56 $29.67City of McMinnville $517.06 $502.00Chemeketa Library $8.43 $8.18Chemeketa Comm. Coll. $64.47 $62.59Urban Renewal $38.49Total $1,321.65 $1,321.65
Urban Renewal for McMinnville
Urban Renewal for McMinnville
Feasibility Study Financial Scenario–
Medium Growth 25 year term $30 million
Includes projections of development from Northeast Gateway Plan
Anticipates some upfront funding of infrastructure to help development in NE Gateway
Urban Renewal for McMinnville
Potential Projects: Public infrastructure/transportation/streetscape
improvements Planning and development assistance programs Debt service Project administration Property acquisition
Urban Renewal for McMinnvillePotential Projects
Streetscape Improvements – Street and streetscape improvements along Alpine
Avenue, Lafayette Avenue, and throughout the downtown core.
Urban Renewal for McMinnvillePotential Projects
Streetscape Improvements
Urban Renewal for McMinnvillePotential Projects
Streetscape Improvements
Urban Renewal for McMinnvillePotential Projects
Developer Assistance and Façade Program
Historic buildingUrban Renewal provided:• Low interest loan for $120,039 • Storefront Improvement Grant of
$30,000Leverage:• SBA Loan• State of Oregon (forgivable loan)
Catalyst Projects
Urban Renewal for McMinnvillePotential Projects
Urban Renewal for McMinnville Potential Projects
Pedestrian Connections / Safety improvements
Urban Renewal for McMinnvillePotential Projects
Off-street parking to support redevelopment
Urban Renewal for McMinnville Potential Projects
Historic resource preservation programs
Urban Renewal for McMinnville Potential Projects
Public spaces / places to entice families
Urban Renewal for McMinnville
Policy Issues –
If Urban Renewal makes sense Time Frame of District, growth projections Projects to undertake
Sufficient funds to do projects? Impacts on Taxing Jurisdictions “Jump – start” the district
Urban Renewal for McMinnville
Next Steps – Complete work on proposed Urban Renewal Plan and
Report; scheduled for completion in May / June
Review input from this open house
Meet with affected parties; hold additional public hearings
If supported by City Council, adopt and implement
plan
Further Information: City website:
www.ci.mcminnville.or.us City staff:
Doug Montgomery Ph. (503) 434-7311 Email [email protected]
Questions / Discussion