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HomeMy WebLinkAboutDCP012612 Meeting time, date, or location may be subject to change. Please contact the City Recorder at 541-423-1026 for additional information. I. MEETING CALLED TO ORDER – 6:00 p.m. II. ROLL CALL III. DISCUSSION ITEMS A. Planning Commission and Citizens Advisory Committee Recommendations B. Affected Tax District Communications C. Proposed Projects (Section 1.6) D. Misc. Draft Plan Comments E. Updated Schedule VI. BUSINESS A. Approve Resolution forwarding The Downtown & East Pine Street Corridor Revitalization Plan and Report to the City Council with a recommendation to approve VII. ADJOURNEMENT City of Central Point Development Commission Meeting Thursday, January 26, 2012 6:00 P.M. Central Point Council Chambers 140 S. 3rd Street Central Point, Oregon Members: Hank Williams Allen Broderick Bruce Dingler Carol Fischer Ellie George Kelly Geiger Kay Harrison Staff Liaison: Chris Clayton Don Burt CITY OF CENTRAL POINT Development Commission Minutes November 11, 2011 I. REGULAR MEETING CALLED TO ORDER Chair, Mayor Hank Williams called the meeting to order at 6:00 p.m. II. ROLL CALL: Chair: Mayor Hank Williams Commission Members: Allen Broderick, Carol Fischer, Kelly Geiger, Kay Harrison, and Ellie George were present. Bruce Dingler was excused. City Manager Phil Messina; Community Development Director Tom Humphrey; Assistant City Manager Chris Clayton; Planning Manager Don Burt; Planning Technician Connie Clune; and City Recorder Deanna Casey were also present. III. APPROVAL OF MINUTES A. Approval of Development Commission Minutes for August 25, 2011. Kay Harrison made a motion to approve the minutes as presented. Kelly Geiger seconded. Roll call: Allen Broderick, yes, Kelly Geiger, yes; Carol Fischer, yes; Kay Harrison, yes; Hank Williams, yes; and Ellie George, yes. Motion approved. IV. DISCUSSION ITEMS A. Open House Planning Manager Don Burt explained that this was an Open House. If the members in the audience have any questions as we proceed with discussion of the Draft Urban Renewal Plan please feel free to ask them. He provided a brief explanation of the plan and process. The challenge to Urban Renewal is to create projects that will expand the tax base, bringing in revenue to the city through the taxing districts and economic growth. The city is considering the Urban Renewal District in order facilitate revitalization of the East Pine Street Corridor area. Over the past six years the assessed value of the city grew at an annual average of 4.8% while the proposed Urban Renewal District grew at 1.6%. The mission of the UR District is to eliminate blight and depreciating property values within the Urban Renewal area; revitalize the area as the city’s traditional mixed use urban core; and maximize public and private investments. B. Distribution of Draft Urban Renewal Plan City of Central Point Development Commission Minutes November 2, 2011 Page 2 Mr. Burt provided a copy of the plan and stated that we are about 98% complete. He provided a brief list of possible UR capital projects which must be defined in the plan. Projects can be added after the plan is adopted but that money designated in the Plan would remain constant. He provided a list of the tasks that are required by state when creating a district. Task 1: Create an Urban Renewal Agency. The City Council created the Development Commission on April 14, 2011. Task 2: Define the Urban Renewal Area. Staff and the Development Commission have defined 18% of Central Point with 447 acres in the downtown core area. Task 3: Present the list of projects and program costs: he presented the costs for a total of $46,462,230 which includes 6% for administration costs. Projects will be prioritized in the first year according to what their revenue to the city would be. The District must be flexible in the list so that projects can be moved up if the need arises or if specific funding is available. Task 4: Identify Maximum Indebtedness. The estimated project cost is mentioned above. That would be our maximum indebtedness. The project costs would be held to that amount for the term of the district. Task 5: Determine Financial Feasibility. It must be demonstrated that the Plan as proposed is financially feasible, which has been demonstrated in the Report Section of the Plan. Annual Financial Statements will be required by the State just like the City. The Urban Renewal District will have a budget committee and budget meetings separate from the City process. Task 6: Determine Fiscal Impact. This task is in regards to how this program will impact other taxing districts. All the taxing districts have been contacted and do not have issue with the proposal. Currently the growth is small within the urban renewal district. After approving the district the area should see an increase in growth because of the improvements that will be conducted. The other districts will see an increase in their revenue after the district ends in 25 years. The school district amount would be provided by the state. The fire district is the other large district and they have been involved in the process and are in support of it. There was discussion regarding the Hamrick Penninger extension. Staff explained the reasoning and challenges behind the additional connection and the creek crossing issues connecting the south end of Penninger to Hamrick Road. C. Meeting Schedule Mr. Burt explained that the board has directed staff to forward the plan to the Planning Commission, the Citizens Advisory Committee and an AdHoc Committee for review and return with recommendations at their next meeting. As it stands now the schedule is as follows: City of Central Point Development Commission Minutes November 2, 2011 Page 3 January: the Board meets to review the Planning Commission CAC and AdHoc recommendations. February: The city Council considers and acts on the Urban Renewal Plan May, 2012: The district becomes official. A few of the Commission members are concerned that they have not clearly discussed the project list and boundaries and would like to have more discussion and input into these areas. Mr. Burt explained that anyone is welcome to come to his office for further discussion on the issues. We do not want to into too much depth on the project list. The project list should remain general so that project scope can be fined tuned as the projects come up for completion. The cost estimate for each project comes from previous studies done by the city. At some point the City has discussed all of these projects but has not had the funds to do them. With and Urban Renewal District these projects can finally be completed. Some of the items on the list may seem like they should be issues paid for by the developer. However, when faced with the cost of including the improvements into their project plans it also becomes to costly for a developer to do the traffic infrastructure. The Urban Renewal District would be able to help with those issues and help develop problem areas. VI. ADJOURNMENT The November 2, 2011 meeting was adjourned at 7:23 p.m. Dated: _________________________ Chair Mayor Hank Williams ATTEST: __________________________ City Recorder Page 1 of 2 MEMORANDUM To: Development Commission From: Don Burt, Planning Manager Subject: Urban Renewal Meeting, January 26, 2012 Date: January 19, 2012 The following is an overview of the Discussion section of the Agenda. With the exception of item C the discussion should be very brief. Item C is the primary purpose of the meeting. In the event that the Commission is comfortable with the project list Business Item A provides for approval of the Urban Renewal Plan. If the Commission decides to continue discussion on the Plan and projects; then item IV - A can be continued. III. DISCUSSION A. Planning Commission and Citizens Advisory Committee Recommendations. On December 6, 2011 the Planning Commission reviewed the Urban Renewal Plan dated November 2, 2011 and by Resolution No. 784 forwarded a favorable recommendation to the City Council per ORS 457.095. On December 7, 2011 the Citizens Advisory Committee met to discuss the draft Urban Renewal Plan and forwarded a favorable recommendation to the City Council. B. Affected Taxing Districts. All affected taxing districts have been contacted regarding the draft urban renewal plan. The only written comments received have been from Fire District No. 3. The Fire District’s comments have been incorporated into the Plan, Sections 1.6.1(C)(5)(c) and 1.6.1(C)(14) as fire safety needs. At the meeting staff will update the Commission on any other comments that may have been received. February 6th is the noticed deadline for comments from taxing districts. C. Proposed Projects. The primary purpose of the January 26th meeting is for the Commission to finalize discussion of the projects as proposed in Section 1.6.1(C) (page 14). Staff will provide a brief overview of each project, starting with Project No. 1, then open for Commission discussion/questions, and conclude with a Commission consensus for that project before moving on to the next project. D. Misc. Draft Plan Comments. Since release of the November 2, 2011 draft Plan staff has completed the technical Report section and adjusted for noted reference errors throughout the draft Plan and re-published as the December 6, 2011 draft Plan. No policy or project Page 2 of 2 changes have been made since the Planning Commission and the CAC’s review of the November 2nd draft. E. Updated Schedule. If the Commission takes final action at the meeting the schedule for completion of the Urban Renewal Plan would appear as follows: a. January 26, 2012 – Resolution from Commission to City Council with recommendation to approve b. January 30, 2012 – Notice of City Council Public Hearing mailed (20 day minimum notice). c. February 23, 2012 – Public Hearing and action by City Council. d. March 8, 2012 – Second Reading and approval of ordinance by City Council. e. March 8, 2012 – City Council approves resolution directing the Commission to record the approved Urban Renewal Plan. f. March 12, 2012 – Notification in newspaper of adoption of Urban Renewal Plan. g. April 7, 2012 – Urban Renewal Plan becomes effective (30 days from approval) h. June 6, 2012 – Appeal Period ends (90 days from adoption). IV. BUSINESS A. Final Approval of Urban Renewal Plan. Pending outcome of discussion on item III-C the Commission can proceed with a final decision on the Plan. If the Commission elects to continue discussion, then this item should be continued. See attached Staff Report for details. Page 1 of 2 STAFF REPORT January 26, 2012 AGENDA ITEM: File No. 08160(02) Consideration of Downtown and East Pine Street Corridor Revitalization Plan, an Urban Renewal Plan for the City of Central Point; Applicant: City of Central Point. STAFF SOURCE: Don Burt, Planning Manager BACKGROUND: On November 2, 2011 the Central Point Development Commission directed staff to forward to the Planning Commission the draft Downtown and East Pine Street Corridor Revitalization Plan dated 11/2/11 for review and recommendation by the Planning Commission per ORS 457.085(4) and ORS 457.095. On December 6, 2011 the Planning Commission reviewed the Urban Renewal Plan and by Resolution No.784 forwarded a favorable recommendation to approve. The Citizens Advisory Committee reviewed the Urban Renewal Plan on December 7, 2011 and by minute action recommended approval. In summary the Urban Renewal Plan: 1. Covers an area of 446.30 acres, or approximately 15.5% of the total city area; 2. Includes sixteen (16) projects, with a maximum indebtedness limitation of $46,462,230; 3. Has a duration of 25 year, beginning in FY 2011-12 and ending in FY 2036-37; 4. Is financially feasible based on projected increases in the Urban Renewal Area’s assessed value; the increases in assessed value are based on the successful implementation of the proposed projects; 5. Will have a minimal impact on affected taxing districts during the duration of the Urban Renewal Plan, which will be significantly off-set upon conclusion of the Urban Renewal Plan; and 6. The Urban Renewal Plan is consistent with the City’s Comprehensive Plan. Pending final discussion of the proposed project list (Section 1.6, page 14) the Urban renewal Plan is complete and ready to forward to the City council. ISSUES: As the Development Commission reviews the draft Urban Renewal Plan specific attention should be given to: 1. Proposed boundary (Exhibit 2 of Plan, page 71); 2. Mission, Goals, and Objectives (Section 1.5, page 11); 3. Proposed Projects and Activities (Section 1.6, page 14); Page 2 of 2 4. Maximum Indebtedness (Section 1.7, page 22) 5. Duration of the Plan (Section 1.13, page 25); and 6. Financial Feasibility (Section 2.7, page 63). The above represent the most substantial components of the Plan. Other sections are less policy and more administrative in nature. The Plan now includes a Report section. The Report contains all the technical and background information on which the Plan is based. The information in the Report section has been discussed with the Commission throughout development of the Plan. By ORS 457 the Report section is mandatory. EXHIBITS/ATTACHMENTS: Attachment “A” – Downtown and East Pine Street Corridor Revitalization Plan and Report (dated December 6, 2011) Attachment “B” – Findings of Comprehensive Plan Compliance (to be distributed at meeting) Attachment “C” – Resolution forwarding the Urban Renewal Plan to the City Council ACTION: Consider 12/6/11 draft Urban Renewal Plan and recommendation to the City Council. RECOMMENDATION: Approve Resolution forwarding the Urban Renewal Plan to the City Council. ATTACHMENT “A” City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 2 of 83 TABLE OF CONTENTS ACKNOWLEDGEMENTS .....................................................................................................................5 SUMMARY .........................................................................................................................................6 PART I. THE EAST PINE STREET CORRIDOR REVITALIZATION PLAN .........................................................8 Section 1.1 Introduction ............................................................................................................................ 8 Section 1.2 City and Agency Relationship ................................................................................................. 8 Section 1.3 Definitions .............................................................................................................................. 8 Section 1.4 Legal Boundary Description .................................................................................................. 11 1.4.1 Written Description of Urban Renewal Area .............................................................................. 11 1.4.2 Graphic Description of the Urban Renewal Area ....................................................................... 11 Section 1.5 Mission Statement, Goals And Objectives ........................................................................... 11 1.5.1 Mission Statement ...................................................................................................................... 11 1.5.2 Goals and Objectives .................................................................................................................. 11 1.5.3 Relationship to the Strategic Plan .............................................................................................. 13 1.5.4 Consistency with the Comprehensive Plan ................................................................................ 13 1.5.5 Compliance with the Land Development Code .......................................................................... 13 Section 1.6 Urban Renewal Activities...................................................................................................... 13 1.6.1 Urban Renewal Projects and Activities ....................................................................................... 13 1.6.2 Acquisition of Real Property ....................................................................................................... 17 1.6.3 Procedures for Identifying Property to be Acquired .................................................................. 18 1.6.4 Property Acquisition for Unspecified Purposes .......................................................................... 18 1.6.5 Relocation Activities ................................................................................................................... 19 1.6.6 Property Disposition and Redeveloper Responsibilities ............................................................. 19 1.6.7 Owner Participation .................................................................................................................... 20 1.6.8 Administrative Activities and Services to the Board ................................................................... 20 1.6.9 Economic Incentive Programs .................................................................................................... 21 Section 1.7 Maximum Indebtedness And Financing Maximum Indebtedness ....................................... 21 City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 3 of 83 1.7.1 Self Liquidation of Costs of Urban Renewal Indebtedness (Tax Increment Financing) 9 ............ 22 1.7.2 Prior Indebtedness ...................................................................................................................... 22 1.7.3 Annual Budget ............................................................................................................................ 22 Section 1.8 Annual Financial Statement Required .................................................................................. 22 Section 1.9 Citizen Participation.............................................................................................................. 23 Section 1.10 Non-Discrimination ............................................................................................................. 23 Section 1.11 Recording of Plan ................................................................................................................ 23 Section 1.12 Procedures for Amendments to the Urban Renewal Plan ................................................. 23 1.12.1 Minor Changes .......................................................................................................................... 24 1.12.2 Amendments to the Comprehensive Plan or any Implementing Ordinances .......................... 24 1.12.3 Substantial Changes .................................................................................................................. 24 Section 13 Duration and Validity of Approved Urban Renewal Plan ...................................................... 25 PART II. DOWNTOWN & EAST PINE STREET CORRIDOR REVITALIZATION REPORT ................................. 26 SECTION 2.1 INTRODUCTION ............................................................................................................... 26 SECTION 2.2 CURRENT CONDITIONS AND IMPACTS ........................................................................... 26 2.2.1 PHYSICAL CONDITIONS .............................................................................................................. 26 2.2.2. SOCIAL AND DEMOGRAPHIC CONDITIONS ................................................................................ 38 2.2.3. ECONOMIC CONDITIONS ........................................................................................................... 42 2.2.4 FISCAL IMPACT OF THE URBAN RENEWAL PLAN IN LIGHT OF ADDED SERVICES OR INCREASED POPULATION ........................................................................................................................................ 48 SECTION 2.3 URBAN RENEWAL AREA SELECTION ................................................................................. 50 SECTION 2.4 PROJECT SELECTION ......................................................................................................... 51 2.4.1 URBAN RENEWAL PROJECTS AND RELATIONSHIP TO BLIGHT MITIGATION .............................. 52 SECTION 2.5 PROJECT COSTS, FUNDING, COMPLETION, AND MAXIMUM INDEBTEDNESS.................. 55 2.5.1 PROJECT COSTS ........................................................................................................................... 56 2.5.2 MAXIMUM INDEBTEDNESS ........................................................................................................ 57 2.5.3 PROJECT COMPLETION DATES ................................................................................................... 57 2.5.4 INDEX TO ADJUST PROJECT AND ACTIVITY DOLLAR VALUES ..................................................... 60 SECTION 2.6 ESTIMATED TAX INCREMENT REVENUE AND DEBT RETIREMENT .................................... 60 SECTION 2.7 FINANCIAL ANALYSIS ......................................................................................................... 63 City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 4 of 83 SECTION 2.8 A FISCAL IMPACT STATEMENT .......................................................................................... 63 SECTION 2.9 RELOCATION REPORT ........................................................................................................ 66 2.9.1 PROPERTIES REQUIRING RELOCATION ...................................................................................... 66 2.9.2 DESCRIPTION OF RELOCATION METHODS ................................................................................. 66 2.9.3 ENUMERATION OF HOUSING UNITS REQUIRING RELOCATION ................................................ 67 APPENDIX ........................................................................................................................................ 68 City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 5 of 83 ACKNOWLEDGEMENTS CENTRAL POINT DEVELOPMENT COMMISSION BOARD OF DIRECTORS HANK WILLIAMS, MAYOR BRUCE DINGLER, PRESIDENT ALLEN BRODERICK CAROL FISHER KELLY GEIGER ELLIE GEORGE KAY HARRISON URBAN RENEWAL STAFF: URBAN RENEWAL DIRECTOR/CITY MANAGER: PHIL MESSINA URBAN RENEWAL MANAGER/ASSISTANT CITY MANAGER: CHRIS CLAYTON PREPARED BY: CITY OF CENTRAL POINT COMMUNITY DEVELOPMENT DEPARTMENT: COMMUNITY DEVELOPMENT DIRECTOR: TOM HUMPHREY, AICP PLANNING MANAGER: DON BURT , AICP, EDFP COMMUNITY PLANNER: CONNIE CLUNE City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 6 of 83 EXECUTIVE SUMMARY The Downtown and East Pine Street Corridor Revitalization Program (the “Program”) is an urban renewal plan for the City of Central Point. The Program is presented in two parts – Part I, The Downtown and East Pine Street Corridor Revitalization Plan (the “Plan”), and Part II, The Downtown and East Pine Street Corridor Revitalization Report (the “Report”). The Program has been prepared by the Central Point Development Commission, an urban renewal agency for the City of Central Point, pursuant to the provisions of Chapter 457 of the Oregon Revised Statutes, the Oregon Constitution and all other applicable state and local laws. The goals, projects and activities presented in the Program are designed to reinforce the City’s commitment to the revitalization of the Downtown area as set forth in Central Point Forward, Fair City 2020 – A City Wide Strategic Plan. The underlying objective of the Program is to identify projects and provide a consistent long-term source of funding (tax increment financing) sufficient to encourage and leverage private sector reinvestment in the Urban Renewal Area, thereby eliminating blighted conditions. The Program targets a single geographic area of 446.3 acres located entirely within the incorporated City of Central Point. Most of the area is represented by the original Town of Central Point platted in 1887. Consequently, much of the development within the Urban Renewal Area occurred in the late 1800s and early to mid 1900s. The presence of blight is best summarized in the Downtown area’s growth in assessed value. Over the past five years the City’s average assessed value has increased by 4.6%. During that same period the designated Urban Renewal Area has averaged an annual growth rate of less than 1.6%. For FY 2011-12 the assessed value for the Urban Renewal Area ($131,424,5281) actually declined by 1.5%. Given the rate of growth in assessed valuation the Urban Renewal Area relies on other geographic areas to maintain a constant level of public services. To encourage and leverage private sector investment the Program identifies fifteen (15) projects that are considered key to the revitalization of the Urban Renewal Area. These projects have an estimated total cost of $67,295,7852 and are planned to be completed over a period of twenty-five (25) years. Of the total project costs the Urban Renewal Agency will be responsible for $43,177,530 (Maximum Indebtedness). The Urban Renewal Agency will use tax increment financing as its primary revenue source for funding the Program. The financial feasibility of the Program has been addressed in the Report section of the Program3, and determined to be feasible. The Program’s4 fiscal impact on affected taxing districts has been addressed, and the cost to each affected taxing district estimated. Considering the average annual growth rate of the Urban Renewal area’s assessed value the fiscal impact to affected taxing districts is minimal, particularly when the 25- year duration of the Program is considered. It has also been noted in the Program that some of the designated projects will benefit property outside the Urban Renewal Area, which will increase the assessed value of the affected taxing districts, further off-setting estimated fiscal impacts. It is estimated that by the end of FY 2037-38 an estimated $321,473,429 in incremental assessed value will be released, resulting in the distribution of $4,446,230 in tax revenue. By FY 2039-40 it is estimated that all affected 1 Jackson County Assessor’s Office, 2011-12 2 Measured in 2011 dollars 3 Section 2.7 4 Section 2.8 City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 7 of 83 taxing districts will have reached a break-even point, recapturing any lost revenue. More importantly, the Urban Renewal Area will be a fiscally stronger and more livable environment, generating increased tax revenues for many years. City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 8 of 83 PART I. THE EAST PINE STREET CORRIDOR REVITALIZATION PLAN SECTION 1.1 INTRODUC TION Central Point’s Downtown area represents the historic core of the City. As such, many of the buildings and infrastructure were built in the late 1800s and early to mid -1900s. Consequently, much of the Downtown’s buildings and infrastructure are tired, “use challenged”, meaning that many of the structures and uses have a difficult time competing with newer commercial and residential areas for the necessary private sector investment needed to remain competitive. This inability to compete has resulted in the occurrence of blighting conditions throughout the Urban Renewal Area. The presence of blighting conditions is best summarized in the Downtown area’s assessed value. Over the past five years the City’s average assessed value has increased by 4.6% on an annual basis, while the Urban Renewal Area has averaged only 1.6% annually. For fiscal year 2011-12 the assessed value for the Urban renewal Area actually declined by 1.5%. In response to the Area’s declining condition the City has prepared the Downtown and East Pine Street Corridor Revitalization Plan, an Urban Renewal Plan for the City of Central Point (the Plan). The preparation of the Downtown and East Pine Street Corridor Revitalization Program (the “Program”) was encouraged by a number of recent events, including the Great Recession of 2008, adoption of the Greater Bear Creek Valley Regional Plan, and Central Point Forward, Fair City 2020 – A City Wide Strategic Plan. Collectively, these events reinforced and refined the City’s preferred future growth pattern, with the downtown area serving as the City’s urban center. SECTION 1.2 CITY AND AGENCY RELATIONSHIP The City Council of the City of Central Point on April 14, 2011, by Ordinance Number 1950, declared that blighted areas exist within the City and that there is a need for an urban renewal agency to function within the City. The City Council, by the approval of Ordinance Number 1950, and in accordance with the provisions of ORS 457.045 (3), created the Central Point Development Commission, and appointed a Board of Directors consisting of the City Council. Pursuant to ORS 457.035, the Central Point Development Commission is, “…a public body corporate and politic…” The relationship between the City of Central Point, an Oregon Municipal Corporation, and the Central Point Development Commission, a public body corporate and politic, shall be as contemplated by Chapter 457 of the Oregon Revised Statutes. Nothing contained in this Plan, including the City’s supplying of services or personnel, and the budgeting requirements of this Plan shall in any way be construed as departing from or disturbing the relationship contemplated by Chapter 457 of the Oregon Revised Statutes. SECTION 1.3 DEFINITIONS As used in this Plan, unless the context requires otherwise, the following definitions shall apply: 1. AGENCY, the Central Point Development Commission which, in accordance with the provisions of Chapter 457 of the Oregon Revised Statutes is the urban renewal agency of the City of Central Point, Jackson County, Oregon. City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 9 of 83 2. AGENCY BOARD or COMMISSION, the Board of Directors of the Central Point Development Commission. 3. AREA, the geographic area of the City that encompasses the Downtown and East Pine Street Corridor Revitalization Area, prepared in accordance with all applicable provisions of ORS Chapter 457. 4. BASE VALUE. The assessed value of the Urban Renewal Area at time of adoption of the Plan and as determined by the Jackson County Assessor’s office. 5. BASE YEAR. The fiscal year that the Base Value was established. 6. BOARD OF COUNTY COMMISSIONERS, the governing body of Jackson County. 7. BLIGHTED AREAS, areas which by reason of deterioration, faulty planning, inadequate or improper facilities, deleterious land use or the existence of unsafe structures, or any combination of these factors, are detrimental to the safety, health or welfare of the community. A blighted area is characterized by the existence of one or more of the following conditions: A. The existence of buildings and structures, used or intended to be used for living, commercial, industrial or other purposes, or any combination of those uses, which are unfit or unsafe to occupy for those purposes because of any one or a combination of the following conditions: i. Defective design and quality of physical construction; ii. Faulty interior arrangement and exterior spacing; iii. Overcrowding and a high density of population; iv. Inadequate provision for ventilation, light, sanitation, open spaces and recreation facilities; or v. Obsolescence, deterioration, dilapidation, mixed character or shifting of uses; B. An economic dislocation, deterioration or disuse of property resulting from faulty planning; C. The division or subdivision and sale of property or lots or irregular form and shape and inadequate size or dimensions for property usefulness and development; D. The layout of property or lots in disregard of contours, drainage and other physical characteristics of the terrain and surrounding conditions; E. The existence of inadequate streets and other rights-of-way, open spaces and utilities; F. The existence of property or lots or other areas which are subject to inundation by water; G. A prevalence of depreciated values, impaired investments and social and economic maladjustments to such an extent that the capacity to pay taxes is reduced and tax receipts are inadequate for the cost of public services rendered; City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 10 of 83 H. A growing or total lack of proper utilization of areas, resulting in a stagnant and unproductive condition of land potentially useful and valuable for contributing to the public health, safety and welfare; or I. A loss of population and reduction of proper utilization of the area that causes further deterioration and added costs to the taxpayer for the creation of new public facilities and services elsewhere. 8. CITY, the City of Central Point, Jackson County, Oregon. 9. DOWNTOWN, as used in this Plan, means that geographic area of the City of Central Point, which is included in the Downtown Revitalization Area -- an urban renewal area -- and which is more fully described in Section 300 and Exhibits 1 and 2 of this Plan. 10. CITY COUNCIL or COUNCIL, the governing body of the City of Central Point. 11. COMPREHENSIVE PLAN, the Comprehensive Plan of the City of Central Point including all of its policies, procedures and implementing provisions. 12. COUNTY, Jackson County, Oregon. 13. EXHIBIT, an attachment, either narrative or graphic, to this Urban Renewal Plan. 14. ORS, Oregon Revised Statutes (State Law). ORS 457 is the chapter which regulates the renewal of blighted areas within the State of Oregon. 15. PLAN, the Downtown and East Pine Street Corridor Revitalization Plan, an Urban Renewal Plan of the City of Central Point, Oregon. 16. PROGRAM, Part 1 of the Plan. 17. REDEVELOPER, a party who acquires real property from the Central Point Development Commission for the purposes of developing or redeveloping such property in conformity with the provision of the Plan. 18. REVITALIZATION PLAN, the Downtown and East Pine Street Corridor Revitalization Plan, an Urban Renewal Plan of the City of Central Point. 19. STATE, the State of Oregon, including its various departments, divisions and agencies. 20. TAX INCREMENT FINANCING, a method of financing indebtedness incurred by the Board of Directors of the Central Point Development Commission in preparing and implementing the Plan. Such tax increment method is authorized by ORS Sections 457.420 through 457.450 and provides that the tax proceeds, if any, realized from an increase in the taxable assessed value of real and personal property within the Revitalization Area above that existing on the County tax roll last equalized prior to the effective date of the Central Point City Council Ordinance approving the Urban Renewal Plan shall be paid into a special fund of the Agency’s Commission of Directors. Such special fund shall be used to pay the principal and interest on indebtedness incurred by the Commission in financing or refinancing the preparation and implementation of the approved Urban Renewal Plan including the administration of the Commission’s activities. City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 11 of 83 21. TAXING BODY, the City of Central Point, Jackson County, Jackson County Education Service District, Jackson County Vector Control, Jackson County Soil Conservation, Rogue Valley Transit District, Rogue Community College, Fire District No. 3, and Central Point School District No. 6, each of which levies ad valorem taxes within the boundaries of the Urban Renewal Area. 22. URBAN RENEWAL AREA, the geographic area of the City that encompasses the Downtown and East Pine Street Corridor Revitalization Area, an urban renewal district prepared in accordance with all applicable provisions of ORS Chapter 457. 23. URBAN RENEWAL LAW, Chapter 457 of the Oregon Revised Statutes as it exists on the effective date of this Urban Renewal Plan or as it may be amended from time-to-time by action of the Oregon Legislature. 24. URBAN RENEWAL PLAN, the Plan for the Downtown and East Pine Street Corridor Revitalization Plan – An Urban Renewal Plan for the City of Central Point, Oregon. SECTION 1.4 LEGAL BOUNDARY DESCRIPTION The Urban Renewal Area contains 446.3 acres, accounting for 15.5% of the City’s total acreage. The legal description and illustration of the boundary of the Urban Renewal Area is described as follows: 1.4.1 WRITTEN DESCRIPTION OF URBAN RENEWAL AREA A written narrative of the Urban Renewal Plan Area is presented as Exhibit 1 (Appendix), a Narrative Description of Urban Renewal Area. 1.4.2 GRAPHIC DESCRIPTION OF THE URBAN RENEWAL AREA A map of the Urban Renewal Area is presented in Exhibit 2 (Appendix), a graphic (Map) illustration of the Urban Renewal Area. SECTION 1.5 MISSION STATEMENT, GOALS AND OBJECTIVES 1.5.1 MISSION STATEMENT It is the mission of the Central Point Development Commission to eliminate blight and depreciating property values within the urban renewal district. This will be accomplished through the preparation and implementation of an urban renewal program that maximizes both public and private investments that target, facilitate and strengthen the economic and aesthetic vitality of the Urban Renewal Area as the City’s traditional mixed-use urban core. 1.5.2 GOALS AND OBJECTIVES To accomplish its mission the Development Commission will develop and implement an urban renewal program known as the Downtown and East Pine Street Corridor Revitalization Plan, the goals and objectives of which are to: A. Resolve the problems created by existing blighted conditions in the Area so that unused and underused properties can be placed in productive condition and utilized at their highest and best use in accordance with the City of Central Point Comprehensive Plan. City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 12 of 83 B. Provide programs for the development, redevelopment, and rehabilitation of property in the Area in ways that will: i. Re-enforce the pedestrian and mixed-use character of the downtown, and insure a more attractive, functional and economically viable urban core consistent with the goals and objectives of the Greater Bear Creek Valley Regional Plan; ii. Encourage job creation through the expansion of existing businesses and the development of new businesses within the Urban Renewal Area; iii. Increase property values so that the Urban Renewal Area will contribute its fair share to the costs of public services provided by the City and other affected taxing districts; and iv. Conserve and place into productive use historically significant places and properties. C. Respond to the needs and the concerns of all people of the City of Central Point with respect to revitalization of the Area as expressed in the City’s strategic plan Central Point Forward, Fair City Vision 2020 and the City of Central Point Comprehensive Plan. D. Encourage the maximum amount of public involvement and citizen’s participation in the formation and implementation of the Urban Renewal Plan by: i. Explaining and discussing the details of the Urban Renewal process: a. To the public at town hall type gatherings; b. To invite special interest groups, public service organizations, public bodies and the general public to Commission meetings; c. To include urban renewal activities and updates in the City’s periodic newsletters; and d. To cooperate with the news media to discuss the Urban Renewal Plan and process. ii. Meeting with the nine affected taxing bodies to explain the long-term benefits of the Urban Renewal program and its relationship to their fiscal concerns, and iii. Being available to discuss the details of the Urban Renewal Plan with service, professional, fraternal and labor organizations. E. To provide an adequate amount of properly located off-street parking in the downtown area including a plan and program to effectively pay for, manage, and maintain such parking; F. To create positive linkages among the five sub areas of the Urban Renewal Area; the Downtown, Hwy. 99 Corridor, Northside Neighborhood, Southside Neighborhood, and East Pine Street Area; G. To cooperate and coordinate with the Rogue Valley Transit District in their efforts to improve transportation services in the Urban Renewal Area; H. To develop, and implement, a plan for the undergrounding of present overhead utilities that are located in areas of maximum pedestrian activity; City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 13 of 83 I. To cooperate and coordinate with the program to improve Bear Creek and the Bear Creek Greenway and to recognize the positive values and benefits that these improvements will have on the revitalization of the Urban Renewal Area. J. To improve the visual appearance, capacity and traffic flow of East Pine Street and other streets within the Urban Renewal Area that carry the major share of vehicular and pedestrian traffic; K. To cooperate with property owners in the rehabilitation of their buildings and property; L. To install coordinated street furniture, night lighting and landscaping within the Downtown Core Area in areas of maximum pedestrian concentration; M. To assure, through the construction/installation, or replacement that publicly owned utilities such as water, storm drains, and sanitary sewers, are adequate in capacity to service the needs of all uses within the urban renewal district; and N. To leverage the Agency’s financial resources to the maximum extent possible with other public and private investment and other public and private funding sources. 1.5.3 RELATIONSHIP TO THE STRATEGIC PLAN This Plan is intended to further the objectives of the City’s strategic planning goals, strategies and actions as set forth in Central Point Forward, Fair City Vision 20205 as it exists on the effective date of this Urban Renewal Plan, or as it may be amended from time to time, and is hereby incorporated by reference as if it were included in full. 1.5.4 CONSISTENCY WITH THE COMPREHENSIVE PLAN This Plan has been prepared in conformity with the City’s adopted Comprehensive Plan including its goals, policies, procedures and implementing provisions, or as it may be amended from time to time, and is hereby incorporated by reference as if it were included in full. 1.5.5 COMPLIANCE WITH THE LAND DEVELOPMENT CODE The use and development of all land within the Urban Renewal Area shall comply with the City’s Land Development Code and all other, codes, policies, regulations, including the “Downtown Revitalization Plan”, and all other applicable Federal State, and County regulations, as they exist on the effective date of this Urban Renewal Plan or as they may be amended from time to time, are incorporated hereby by reference as if they were included in full. SECTION 1.6 URBAN RENEWAL ACTIVITIES To achieve the goals and objectives of this Plan the following activities may be undertaken by the Commission, or caused to be undertaken by others, in accordance with applicable Federal, State, County and City laws, policies and procedures and in compliance with the provisions of this Plan. The Commission’s responsibility for all activities identified in the Plan is subject to the availability of appropriate funding. 5 City Council Resolution No. 1143 1.6.1 URBAN RENEWAL PROJEC TS AND ACTIVITIES City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 14 of 83 A. The following projects and activities are deemed necessary to: i. Eliminate blighting conditions and influences; ii. Reverse presently depreciating property values; iii. Make the Area attractive for the stabilization, expansion, rehabilitation or redevelopment of existing businesses, industries and housing; iv. Create a physical, visual and economic environment that will attract new, job producing development of the Area’s vacant land; and to v. Further the objectives of the Urban Renewal Plan as set forth in Section 1.5, Mission Statement, Goals and Objectives. B. All public improvements herein proposed shall be constructed in conformance with the approved standards and policies of the City of Central Point. C. With funds available to it, the Central Point Development Commission may fund in full, in part, a proportionate share of, or cause to be funded, the following numbered projects and activities: 1. DOWNTOWN AREA STREETSCAPE IMPROVEMENTS. Within Downtown Core Area (Appendix, Figure 2) improve streetscapes on the primary pedestrian streets. Streetscape improvements may include curb and gutter, sidewalks, crosswalks, street trees, tree grates, street lights, plazas, gateways, and street furniture. All streetscape improvements shall be constructed in accordance with an approved streetscape master plan for the area illustrated in Part 2, Figure 6, Downtown Core Area. 2. EAST PINE STREET IMPROVEMENTS. Improve the streetscape along that section of East Pine Street between the Downtown Area and Hamrick Road. Streetscape improvements may include curb and gutter, sidewalks, crosswalks, street trees, tree grates, street lights, plazas, gateways, portal signage on I-5, and street furniture. All streetscape improvements shall be constructed in accordance with an approved streetscape master plan East Pine Street. 3. NEIGHBORHOOD SIDEWALKS AND STREET LIGHTING. Install sidewalks on residential streets in the Northside and Southside Neighborhoods illustrated in (Part 2, Figure 2, Urban Renewal Boundary and Planning Sub Areas). All sidewalk improvements shall be made in accordance with city sidewalk standards and may include street lighting, and street trees. 4. HWY. 99 CORRIDOR IMPROVEMENTS. Improve Hwy. 99 (Front Street) streetscape from the proposed Twin Creeks railroad crossing south to Bush Street. Streetscape improvements may include curb and gutter, sidewalks, street trees, tree grates, street lights, plazas, gateways, cross-walks and street furniture. All streetscape improvements shall be made in accordance with an approved streetscape master plan for the area. 5. INTERSECTION SIGNALIZATION. Install/upgrade/modify traffic signals at the following intersection: City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 15 of 83 a. Twin Creeks RR-Xing. Install new signalized intersection at Hwy. 99 and Twin Creeks Dr. and new railroad crossing at Twin Creeks Dr. Improvements shall include, but not be limited to easement acquisition, curb and gutter, street surface improvement, railroad crossing signalization, Hwy. 99 signalization, sidewalks, street lights, and landscaping; b. Downtown Core Area Signals, add new signals and modify others within the Downtown Core Area as per the approved East Pine Street Corridor Refinement Plan; c. Hwy. 99 and Fire District 3 Station, to improve the safety of emergency vehicle egress install an emergency signal on Hwy. 99; d. Pine St. and Peninger, modify existing signal in accordance with Interchange Access Management Plan 33; e. Pine St. and Gebhard Extension, add new signals at future intersection of Gebhard Rd. and E. Pine Street. 6. OFF-STREET PARKING FACILITIES. All public parking constructed under the provisions of this Section shall comply with the objectives and policies of the City of Central Point Comprehensive Plan and the City of Central Point Transportation System Plan as applies to the Downtown, and with the applicable standards set forth in the Land Development Code. a. Oak Street Parking Facility. Design and construct a parking facility on the northwest corner of Oak Street and Third Street. b. Manzanita Street Parking Facility. Design and construct a parking facility on the southeast corner of Manzanita Street and First St. 7. UNDERGROUND EXISTING POLE MOUNTED UTILITY SYSTEMS. Within the Downtown Core Area, and along Hwy. 99 underground existing overhead utilities in accordance with an approved comprehensive underground utility plan. 8. GEBHARD ROAD EXTENSION TO COLLECTOR STREET STANDARDS. Extension of Gebard Road to local collector street standards from the northerly limits of the Urban Renewal Area to East Pine Street. 9. PFAFF PARK RENOVATION. Renovate Pfaff Park including new landscaping, restroom facilities, playground equipment, and lighting. 10. FREEMAN ROAD UPGRADE TO COLLECTOR STREET STANDARDS. Between Oak St. and Hopkins Road rebuild Freeman Road to collector street standards, including curb, gutter, sidewalks, street lights, traffic control devices, and street trees. 11. PENINGER ROAD SOUTHERLY EXTENSION. Extend Peninger Road south across Bear Creek to collector street standards to intersect with Hamrick; including intersection signal modifications at East Pine Street and Peninger, southerly bridge crossing and bike lanes. The specifics and timing of this project shall be based on a transportation analysis prior to commencement of construction. City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 16 of 83 12. MISCELLANEOUS PUBLIC WORKS. Throughout the life of this Urban Renewal Program, the Commission, consistent with their priorities and financial resources, may assume the costs, or share of the costs, of engineering and constructing public works projects within the Urban Renewal Area to further the objectives of this Urban Renewal Plan. Such projects may include the installation or reconstruction of the following: a. Storm Drains; b. Sanitary Sewers; c. Water Mains and Fire Hydrants; d. Curbs or Curbs and Gutters; e. Sidewalks, including Irrigated Tree Plantings; f. Street Work; and g. Alley Paving. 13. CITY OF CENTRAL POINT COMMUNITY CENTER. Assist with the feasibility analysis, site and architectural design, land acquisition, and construction of a community center within the Area. The Agency’s participation in the development of a community center shall be limited to the percentage of the total design and development costs, including land acquisition that can be reasonably attributed to serving the Area. 14. FIRE SAFETY. New Fire equipment to service growth within Urban Renewal Area. The Commission will coordinate and enter into a written agreement with Fire District No.3 regarding the timing of implementation of this project. 15. ECONOMIC DEVELOPMENT INCENTIVE PROGRAM. The Commission may establish incentive programs to encourage commercial and residential development within the Urban Renewal Area. The economic incentive programs may be in the form of grants, or loans. Prior to the establishment of any economic incentive program the Commission shall prepare and adopt an economic development incentive program defining: a. Criteria for eligibility; b. Terms and conditions of the program; c. Loan procedures for recycling the funds as loan obligations are paid; d. Procedures where loan payments are not paid or paid in an untimely manner; City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 17 of 83 e. Procedures and conditions for which deferred payment loans may be offered; f. Procedures for administering and servicing the program; and g. Such other procedures and conditions which the Commission deems necessary. 1.6.2 ACQUISITION OF REAL PROPERTY A. Intent It is the intent of this Plan to authorize the Commission of the Urban Renewal Agency to acquire property within the Urban Renewal Area by any legal means to achieve the objectives of this Plan, and specifically, for any of the purposes listed in Subsection 1.6.2(B), Purpose of Property Acquisition. B. Purpose of Property Acquisition. Property acquisition, including limited interest acquisition is hereby made a part of this Plan and may be used by the Commission to achieve the objectives of this Plan based on any one of the following criteria: 1. Where existing conditions do not permit practical or feasible rehabilitation of a structure, by its owner, and it is determined by the Commission that acquisition of such properties and demolition or rehabilitation of the improvements thereon are necessary to remove substandard and blighting conditions; 2. Where detrimental land uses or conditions such as incompatible uses, or adverse influences from noise, smoke or fumes exist, or where there exists over-crowding, excessive dwelling unit density or conversions to incompatible types of uses, and it is determined by the Commission that acquisition of such properties and the rehabilitation or demolition of the improvements are necessary to remove blighting influences; 3. Where it is determined by the Commission that the property is needed to provide public improvements and facilities as follows: Right-of-way acquisition for; streets, alleys, bicycle paths, or pedestrian ways (sidewalks). Facilities for the benefit of the public which are to be developed by the Commission, the City, or any other public entity; Property acquisition for public, off-street parking facilities; or Where the owner of real property within the boundaries of the Urban Renewal Area wishes to convey title of such property by legal means, including by gift. Where it is determined by the Commission that a substantial public interest or the objectives of this Plan can be furthered by assembling property for development or redevelopment by a party other than the owners of record of such property, the Commission may acquire such property. City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 18 of 83 C. Property Which May Be Acquired At the time of adoption of this Plan no properties have been designated for acquisition. As a minor amendment, and as part of an existing project, the Commission may designate property to be acquired subject to compliance with Section 1.6.3, Procedures for Identifying Property to be Acquired. 1.6.3 PROCEDURES FOR IDENTIFYING PROPERTY TO BE ACQUIRED Project activities listed in Section 1.6, Urban Renewal Activities, may require acquisition of property not identified by the Commission as of the effective date of this Plan. However, should such action be required by the Commission, the following procedures shall be undertaken prior to such property acquisition: A. First the Commission shall determine the properties which may be acquired. B. The Commission, or its designated representative, shall then contact the owner or owners of both properties at the address shown on the most current tax roll to inform the owners of the Commission’s interest in acquiring their property and the reasons for such interest. C. The Commission, at a regularly scheduled meeting, shall discuss the results of the contact with the owner of the affected property and determine whether or not to proceed with the acquisition process. D. If it is in the Commission’s determination to proceed with the acquisition process, they shall set a time and place for a public hearing on the matter. The owners of the property which may be acquired shall be notified of such public hearing by registered mail, return receipt requested. E. At the public hearing, the Commission shall explain the public purpose, public interest or the plan objectives that would be furthered by such property acquisition. The Commission shall then receive comment from the affected property owner, if any, and from the public at large. F. After the owners and public have been heard, their comments shall be considered by the Commission. The Commission, by resolution shall then make a finding, based on the reasons for the acquisition, the content of the owners and public testimony whether or not to proceed with the acquisition. G. If the Commission’s finding and determination is to proceed with the acquisition process, the Commission, by resolution, shall cause a minor change to this Plan to be prepared in conformance with Section 1.12.1, Minor Changes. Such change shall consist of a map or maps and a legal description of the property to be acquired including a copy of the Commission’s finding described in subsection “F” above. The change shall be assigned an appropriate exhibit number and incorporated as part of this Urban Renewal Plan. H. The Commission shall then proceed with the acquisition process. 1.6.4 PROPERTY ACQUISITION FOR UNSPECIFIED PURPOSES City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 19 of 83 If property acquisition, other than for the projects or activities identified in Section 1.6, Urban Renewal Activities, is considered by the Commission, such property acquisition shall be treated as a minor amendment within the meaning of Section 1.12.1, Minor Changes. 1.6.5 RELOCATION ACTIVITIES If in the implementation of this Plan, persons or businesses should be displaced by action of the Commission, the Commission shall provide assistance to such persons or businesses to be displaced. Displaced persons or businesses will be contacted to determine their individual relocation needs. They will be provided information on available space and will be given assistance in moving. All relocation activities will be undertaken and relocation payments made in accordance with the requirements of ORS 281.045 – 281.105. Payments made to persons displaced from dwellings will be assured that they will have available to them habitable, safe, and sanitary dwellings at costs or rents within their financial reach. Payment for moving expense will be made to occupants displaced. Prior to the Commission acquiring any property which will cause households, businesses, industries, offices or other occupants to be displaced, the Commission will prepare, adopt and maintain a Relocation Policy, an outline of which is set forth herein as Exhibit “4“ of Part 2. Such policy will be available to interested parties at the Agency’s office and will set forth the relocation program and procedures, including eligibility for and amounts of relocation payments, services available and other relevant matters. 1.6.6 PROPERTY DISPOSITION AND REDEVELOPER RESPONSI BILITIES A. PROPERTY DISPOSITION. The Commission is authorized to dispose of, sell, lease, exchange, subdivide, transfer, assign, pledge or encumber by mortgage, deed of trust, or otherwise any interest in real property which has been acquired by them in accordance with the provisions of this Plan and with the terms and conditions set forth in a Disposition and Development Agreement or other legal instrument as determined by the Commission. All real property acquired by the Commission in the Urban Renewal Area, if any, shall be used or disposed of for development consistent with the goals and objectives of the Urban renewal Plan and with all applicable codes, ordinances, policies, plans and procedures of the City. The Commission shall obtain fair re-use value for the specific uses to be permitted on the real property. Real property acquired by the Commission may be disposed of without consideration (cost) to any other public entity in accordance with this Plan. All persons and entities obtaining property from the Commission shall use the property for the purposes consistent with the goals and objectives designated in Section 1.5.2, Goals and Objectives, of this Plan, and shall commence and complete development of the property within a period of time which the Commission fixes as reasonable, and shall comply with other conditions which the Commission deems necessary to carry out the goals and objectives of this Plan as stated in Section 1.5, Mission Statement, Goals and Objectives. Real property shall not be disposed of for the purpose of speculation. The Commission shall provide adequate safeguards to ensure that the provisions of this Plan will be carried out to prevent the recurrence of blight. All real property owned or leased by parties, shall be made subject to the provisions, and the goals and objectives, of this Plan. Leases, deeds, contracts, agreements, documents and declarations of restrictions by the Commission may contain restrictions, covenants, covenants running with the land, rights or reverter, conditions precedent or subsequent, equitable servitudes, or any other provisions necessary to carry out this Plan. City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 20 of 83 B. REDEVELOPER’S OBLIGATION. Any redeveloper and his/her successors or assigns within the Urban Renewal Area, in addition to the other controls and obligations stipulated and required of the Redeveloper by the provisions of this Plan, shall also be obligated by the following requirements: 1. The Redeveloper shall obtain necessary approvals of proposed developments from all Federal, State and/or local agencies that may have jurisdiction on properties and facilities to be developed or redeveloped within the Urban Renewal Area; 2. The Redeveloper shall develop or redevelop such property in accordance with the land- use provisions and other requirements specified in this Plan; 3. The Redeveloper shall submit all plans and specifications for construction of improvements on the land to the Commission or such of its agents as the Commission may designate for review prior to distribution to appropriate reviewing bodies as required by the City. 4. The Redeveloper shall commence and complete the development of such property for the use provided in this Plan within a reasonable period of time as determined by the Commission; 5. The Redeveloper shall not effect or execute any agreement, lease, conveyance, or other instrument whereby the real property or part thereof is restricted upon the basis of age, race, color, religion, sex, marital status, or national origin in the sale, lease or occupancy thereof; 6. The Redeveloper shall accept all conditions and agreements as may be required by the Commission. In return for receiving assistance from the Commission, if any, the Commission may required the redeveloper to execute a development agreement acceptable to the Commission as a condition of the Commission providing assistance; and 7. The Redeveloper shall maintain property under his/her ownership within the area in a clean, neat and safe condition. 1.6.7 OWNER PARTICIPATION Property owners within the Urban Renewal Area proposing to improve their properties and receiving financial and/or technical assistance from the Commission shall do so in accordance with all applicable provisions of this Plan and with all applicable codes, ordinances, policies, plans and procedures of the City. 1.6.8 ADMINISTRATIVE ACTIVITIES AND SERVICES TO THE BOARD A. The Board may hire its own staff or it may obtain its administrative support staff from the City on such terms and conditions as the Board and the City may agree. The costs of Agency staffing shall be agreed to annually by the City and made a part of the annual budget proposal of the Board. B. The Board may retain and budget for the services of independent professionals, and or firms for services necessary to implement the projects and activities of the Plan. These services may includes, but are not limited to: City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 21 of 83 i. Legal Counsel, including bond counsel; ii. Professional studies for marketing, economic feasibility; iii. Preparation of design, architectural, engineering, landscape, or other plans related to the study and planning; iv. Preparation of construction plans and documents ; v. Accounting and/or auditing services; vi. Licensed real estate professionals for real property appraisals, acquisition, disposition, or negotiating services; and vii. Professional services related to bond issuance and financing. C. The Board may prepare and adopt design standards, guidelines and implementation procedures as necessary to compliance with the goals and objectives of the Plan and any supporting plans. D. The Board may invest its reserve funds in interest bearing accounts or securities consistent with the provisions of City, State, and Federal law. E. The Board may borrow money, accept advances, loans or grants from any legal source, issue urban renewal bonds, and receive tax increment proceeds as provided for in Section 1.7 of this Plan. Regardless of the form of borrowing of funds, the approval of such borrowing shall comply with the provisions of the Board’s adopted Rules of Procedures and all applicable legal requirements. F. Without limiting any other provision, power or authorization of this Plan, the Agency’s Board shall have all of the powers and responsibilities allowed under the provisions of ORS 457. 1.6.9 ECONOMIC DEVELOPMENT INCENTIVE PROGRAMS Subject to compliance with Section 1.6.1(C)(15), Economic Development Incentive Program. SECTION 1.7 MAXIMUM INDEBTEDNESS AND FINANCING MAXIMUM INDEBTEDNESS In accordance with ORS 457.190(3)(c)(A) the initial maximum amount of indebtedness that may be incurred throughout the duration of this Plan, commencing with fiscal year 2011-12 through fiscal year 2036-2037, is $43,177,5306. The initial maximum indebtedness shall be increased each year in accordance with Section 2.5.4, Index to Adjust Project and Activity Dollar Values, of the Report, ENR Index for adjusting project cost estimates7. The Directors of the Urban Renewal Agency may borrow money and accept advances, grants and any other legal form of financial assistance from the federal government, State, City, County, or other public 6 Measured in terms of 2011 dollars 7 ORS 457.190(4)(d) City of Central Point Downtown & East Pine Street Corridor Revitalization Program DRAFT 12-06-2011 Page 22 of 83 body, or from any legal source, public or private, for purposes of undertaking and carrying out this Plan, or may otherwise obtain financing as authorized by ORS Chapter 457. 1.7.1 SELF LIQUIDATION OF COSTS OF URBAN RENEW AL INDEBTEDNESS (TAX INCREMENT FINAN CING) The projects may be financed, in whole or in part, by self-liquidation of the costs of urban renewal activities as provided in ORS 457.420 through 457.460. The ad valorem taxes, levied by a taxing body upon the taxable real and personal property situated in the Urban Renewal Area, shall be divided as provided in ORS 457.440. That portion of the taxes representing the levy against the increase, in the assessed value of property located in the urban renewal areas, or part thereof, over the assessed value specified in the certificate filed under ORS 457.430, shall, after collection by the tax collector, be paid into a special fund of the Directors of the Urban Renewal Agency and shall be used to pay the principal and interest on any indebtedness incurred by the Directors to finance or refinance this Plan and any projects or activities authorized and undertaken pursuant to the provisions of this Plan. The tax increment financing process, pursuant to ORS 457.420 through 457.460, shall be terminated no later than Fiscal Year 2036-37. However, the tax increment collection process may be terminated prior to Fiscal Year 2036-37 should debts of the Agency be retired earlier. Based on the most accurate estimates of Program costs and income, the tax increment process will cover a period of 25 years, commencing in Fiscal Year 2011-12 and terminating on June 30, 2037. Over the course of the Program’s duration it is estimated that tax increment collections will be $51,970,747, which is sufficient to cover the maximum amount of indebtedness designated for the Program. Should the terminal year of tax increment proceeds collection be greater than the amount of debt to be retired, the surplus amount of such tax increment proceeds shall be prorated back to the affected taxing bodies as required by ORS 457.450(3). 1.7.2 PRIOR INDEBTEDNESS Any indebtedness permitted by law and incurred by the Commission, or the City of Central Point in connection with preplanning for this Urban Renewal Plan may be repaid from Commission funds when and if such funds are available. 1.7.3 ANNUAL BUDGET The Agency shall adopt and use a fiscal year ending June 30 accounting period. By July 1 of each year the Commission shall adopt a budget in conformance with the provisions of ORS 294 and ORS 457.460 which shall describe its source of revenue, proposed expenditures and activities. The Agency shall submit its proposed budget to the Urban Renewal Agency’s Budget Committee for its review and approval and the Commission shall not undertake any activities nor expend any funds except as provided in the approved budget. SECTION 1.8 ANNUAL FINANCIAL STATEMENT REQUIRED The Commission, by January 31 of each year, Shall have prepared a financial statement8 containing: 8 ORS 457.460 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 23 of 83 DRAFT 12-06-2011 A. The amount of money actually received during the preceding fiscal year under subsection (4) of ORS 457.420 to 457.460 and from indebtedness incurred under ORS 457.420 to 457.460; B. The purpose and amounts for which any money received under 457.420 to 457.460 and from indebtedness incurred under ORS 457.420 to 457.460 were expanded during the preceding fiscal year; C. An estimate of monies to be received during the current fiscal year under ORS 457.420 to 457.460 and from indebtedness incurred under ORS 457.420 to 457.460; D. A budget setting forth the purposes and estimated amounts for which the monies which have been or will be received under ORS 457.420 to 457.460 and from indebtedness incurred under ORS 457.420 to 457.460 are to be expended during the current fiscal year; and E. An analysis of the impact, if any, of carrying out the urban renewal plan on the tax collections for the preceding year for all taxing bodies included under ORS 457.430. F. If the January 31 deadline to meet the provisions of ORS Section 457.460 is changed by the legislature, the Agency will conform to the new date to prepare the required statement. The statement required by subsection 801 shall be filed with the City Council and notice shall be published in the “Central Point Mail Tribune”, a newspaper of general circulation in the City, that the statement has been prepared and is on file with the City and with the Urban Renewal Agency and the information contained in the statement is available to all interested persons. The notice shall be published once a week for not less than two successive weeks before March 1 of the year for which the statement is required. The notice shall summarize the information required under paragraphs A through D of subsection 1.8, Annual Financial Statement Required, and shall set forth in full the information required under paragraph E of subsection 1.8. SECTION 1.9 CITIZEN PARTICIPATION The activities and projects identified in this Plan, the development of subsequent plans, procedures, activities and regulations, and the adoption of amendments to this Plan shall be undertaken with the participation of citizens, owners and tenants as individuals and organizations who reside within or who have financial interest within the Downtown Revitalization Area and with the general citizens of the City. SECTION 1.10 NON-DISCRIMINATION In the preparation, adoption and implementation of this Plan, no public official or private party shall take any action or cause any persons, group or organization to be discriminated against on the basis of age, race, color, religion, sex, marital status or national origin. SECTION 1.11 RECORDING OF PLAN A copy of the City Council’s Non-Emergency Ordinance approving this Plan under ORS 457.095 shall be sent by the Council to the Commission of Directors of the Urban Renewal Agency. Following receipt of such Ordinance, this Plan shall be recorded by the Commission with the Recording Officer of Jackson County. SECTION 1.12 PROCEDURES FOR AMENDMENTS TO THE URBAN RENEWAL PLAN City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 24 of 83 DRAFT 12-06-2011 The Plan is a living document subject to periodic review and evaluation over the course of its duration. It is fully expected that the plan will require periodic amendment as necessary for clarification purposes and as necessary to address changing conditions. Where, in the judgment of the Commission the proposed modification will substantially change the Plan, the modification must be duly approved by the City Council in the same manner as the original Plan and in accordance with the requirements of State and local law. The provisions of ORS 457.095 and ORS 457.220 and of Section 1.12.3, Substantial Changes, of this Plan shall apply. The various types of Plan changes, clarifications, modifications or amendments and the official actions which shall be taken prior to their implementation; are as follows: 1.12.1 MINOR CHANGES Minor changes shall not change any provision of this Plan which would modify the goals and objectives or basic procedural requirements, planning or engineering principles of this Plan. Such minor changes may include: A. Clarification of language or the State Legislature’s changes in ORS Chapter and Section references; B. Clarification of written or graphic Exhibits to this Plan; C. Modification in the location and scope of project improvements authorized by this Plan, resulting from detailed architectural, engineering or planning analysis. D. The identification of property to be acquired as provided for in Sections 1.6.3, Procedures for Identifying Property to be Acquired, of this Plan. E. Such minor changes shall be made only by a duly approved resolution of the Commission in which the details of the minor change shall be described. 1.12.2 AMENDMENTS TO THE COMPREHENSIVE PLAN OR ANY IMPLEMENTING ORDINANCES From time to time during the implementation of this Urban Renewal Plan, the Planning Commission and City Council of the City of Central Point may approve amendments or modifications to the City’s Comprehensive Plan or to the codes, policies, procedures or ordinances which are established to implement such Comprehensive Plan. Further, the City Council may from time to time amend or approve new Building, Health Safety and other codes which affect the implementation of this Urban Renewal Plan. A. When such amendments, modifications or approvals have been officially adopted by the City Council, such amendments, modifications or approvals--which affect the provisions of this Urban Renewal Plan--shall, by this reference become a part of the Plan as if such amendments, modifications or approvals were herein stated in full. B. The City Council shall forward to the Commission copies of such Council actions as are herein above described and the Commission shall prepare and approve a resolution recognizing that such City Council amendments, modifications or approvals are to be considered as minor changes to this Urban Renewal Plan as provided in Section 1.12.1, Minor Changes, above. 1.12.3 SUBSTANTIAL CHANGES City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 25 of 83 DRAFT 12-06-2011 Such substantial changes, if any, shall be approved by the City Council in the same manner as the Council’s approval of the original plan and in compliance with the provisions of ORS 457.095 and ORS 457.220. Substantial changes shall include the following: A. Extension of the time period for collecting tax increment proceeds as provided in Subsection 1.7.1, Self Liquidation of Costs of Urban Renewal Indebtedness, of this Plan; B. An increase of land area to the boundaries of the Urban Renewal Plan in excess of that allowed by ORS 457.220(3); C. An increase in the effective period of this Plan as set forth in Section 1.13, Duration and Validity of Approved Urban Renewal Plan. SECTION 13 DURATION AND VALIDITY OF APPROVED URBAN RENEWAL PLAN This Plan shall remain in full force and effect until June 30, 2037, or until the maximum amount of indebtedness as set forth in Section 1.7, Maximum Indebtedness and Financing Maximum Indebtedness, has been reached and all related debt service retired, whichever comes first. Should a court of competent jurisdiction find any word, clause, sentence, section or part of this Plan to be invalid, the remaining words, clauses, sentences, sections or parts shall be unaffected by such finding and shall remain in full force and effect for the duration of the Plan. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 26 of 83 DRAFT 12-06-2011 PART II. DOWNTOWN & EAST PINE STREET CORRIDOR REVITALIZATION REPORT SECTION 2.1 INTRODUCTION Oregon’s Urban Renewal Law, ORS 457.085, establishes minimum requirements for an urban renewal plan. One of the requirements is that an urban renewal plan be accompanied by a written report. The report is required to address nine (9) specific elements9. In compliance with Urban Renewal Law this document addresses each element and will be referred to as Part 2 of the City of Central Point Downtown and East Pine Street Corridor Revitalization Plan (the “Report”). All definitions set forth in Section 1.3, Definitions, of the Urban Renewal Plan shall have the same meaning and use in this Report as they have in the Urban Renewal Plan. SECTION 2.2 CURRENT CONDITIONS AND IMPACTS This section describes the “. . . physical, social and economic conditions in the urban renewal areas of the plan and the expected impact, including the fiscal impact, of the plan in light of added services or increased population”. 2.2.1 PHYSICAL CONDITIONS The current physical conditions of the Urban Renewal Area are best described by the boundaries of the Urban Renewal Area and the current land use, zoning, physical condition of structures and infrastructure within the Urban Renewal Area. A. URBAN RENEWAL BOUNDARIES Most of the Urban Renewal Area is represented by the original Plat of Central Point dated 1887, which two years later on February 26, 1889 became the Town of Central Point. Over the years the City’s growth has rippled out in a concentric pattern retaining the original town center as the City’s core area. Today the Urban Renewal Area, at 446.30 acres; accounts for 15.5% of the City’s total land area. The Urban Renewal Area, as a percentage of the City, is within the maximum allowable percentage (25%) of the City’s total acreage10. The boundary of the Urban Renewal Area is illustrated in Figure 1. The formal description of the Urban Renewal Area is presented in Exhibits 1 and 2 in the Appendix. For planning purposes the Urban Renewal Area has been divided in to five sub areas, illustrated in Figure 2. Each sub area has unique physical characteristics and blight related conditions, which will be addressed later in this section. Table 2.1 identifies the gross acreages of the Urban Renewal District, each sub area, and the City. 9 ORS 457.085(3) 10 ORS 457.420 (2)(a)(B) City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 27 of 83 DRAFT 12-06-2011 B. CURRENT USE OF LAND The current land uses within the Urban Renewal Area are described in Table 2.2. Excluding public right-of-way (30%), the predominant use of land in the Urban Renewal Area is residential (27%), followed by commercial (16%) and vacant (12%) lands. With the exception of the residential and the commercial categories, the percentage land use distribution within the Urban Renewal Area is similar to that of the City in general. This distribution comparison is illustrated in Table 2.2. The Urban Renewal Areas higher commercial percentage (42%) of all commercially zoned lands is not unusual considering the Urban Renewal Area’s downtown orientation, and the infrastructure needs that are challenging development of the commercial lands within the East Pine Street Corridor sub area. For the same reason that the commercial land uses are over represented, the Urban Renewal Area’s residential land uses are under- represented. A better understanding of the land use distribution within the Urban Renewal Area is provided in Tables 2.3 through 2.7. These five tables summarize the land use categories for each of the sub areas. For the Northside and Southside Neighborhoods the dominant land use is residential, while the Hwy. 99 and East Pine Street Corridors are primarily commercial/industrial. The Downtown is considered mixed-use with a balance between residential and commercial ruses. Table 2.2 URBAN RENEWAL AREA MAJOR LAND USE Urban Renewal Area City Land Use Acres Percent of URA Land Use Rank Percent of City Percent of City Land Use Rank Vacant 53.60 12% 4 18% 10% 3 Residential 119.40 27% 2 9% 48% 1 Commercial 73.42 16% 3 42% 6% 4 Industrial 26.00 6% 5 18% 5% 6 Civic 18.82 4% 7 18% 4% 7 Parks & Open Space 20.67 5% 6 13% 6% 5 Public Right-of-Way 134.30 30% 1 22% 21% 2 Total 446.30 100% 15.5% 100% Source: City of Central Point Community Development Department, 10/11 C. ZONING CLASSIFICATION Figure 3, Urban Renewal Boundary Zoning, illustrates the distribution of lands by zoning classification and Table 2.8 identifies the acreage distribution by zoning classification. The Urban Renewal Area is predominantly residentially zoned (45%), closely followed by commercial zoning (41%). As would be expected the residential zoning is concentrated in the Northside and Southside Neighborhoods. The land use and zoning are well aligned with Table 2.1 URBAN RENEWAL AREA AND SUB AREA ACREAGE Sub Area Gross Acres Percentage of Urban Renewal Area A Downtown 82.7 19% B Northside Neighborhood 81.4 18% C Southside Neighborhood 105.3 24% D Highway 99 Corridor 90.4 20% E East Pine Street Corridor 86.5 19% Total Urban Renewal Area 446.3 100% Total City Area 2,880.28 15.5% Source: City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 28 of 83 DRAFT 12-06-2011 the Comprehensive Plan land use designations, with only isolated areas of non-conformity. The use, development, or redevelopment of all property within the Urban Renewal Area is subject to compliance with the Central Point Comprehensive Plan and all implementing ordinances, codes, policies and regulations as they exist on the date of approval of the Urban Renewal Plan, or as they may be amended from time-to-time. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 29 of 83 DRAFT 12-06-2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 30 of 83 DRAFT 12-06-2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 31 of 83 DRAFT 12-06-2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 32 of 83 DRAFT 12-06-2011 Table 2.4 NORTHSIDENEIGHBORHOOD MAJOR LAND USE Use Acres Percent of Sub Area Land Use Rank Vacant 2.25 2.77% 3 Residential 45.19 55.54% 1 Commercial 0.35 0.43% 4 Industrial 0.00 0.00% - Civic 0.00 0.00% - Parks 0.00 0.00% - Utility 0.00 0.00% - Right-of-Way 33.58 41.27% 2 Total 81.37 100% Source: City of Central Point Community Development Department Table 2.3 DOWNTOWN SUB AREA MAJOR LAND USE Use Acres Percent of Sub Area Land Use Rank Vacant 1.96 2.37% 5 Residential 21.38 25.84% 2 Commercial 20.62 24.93% 3 Industrial 0.00 0.00% - Civic 5.84 7.06% 4 Parks 1.52 1.84% 6 Utility 0.00 0.00% - Right-of-Way 31.42 37.97% 1 Total 82.74 100% Source: City of Central Point Community Development Department Table 2.5 SOUTHSIDE NEIGHBORHOOD MAJOR LAND USE Use Acres Percent of Sub Area Land Use Rank Vacant 1.03 0.98% 6 Residential 51.46 48.88% 1 Commercial 8.26 7.85% 4 Industrial 0.00 0.00% - Civic 11.70 11.11% 3 Parks 2.31 2.91% 5 Utility 0.00 0.00% - Right-of-Way 30.52 28.99% 2 Total 105.28 100% Source: City of Central Point Community Development Department Table 2.6 HWY. 99 CORRIDOR MAJOR LAND USE Use Acres Percent of Sub Area Land Use Rank Vacant 16.41 18.16% 3 Residential 1.37 1.51% 6 Commercial 30.20 33.42% 1 Industrial 6.86 7.59% 4 Civic 1.28 1.42% 7 Parks 5.93 6.56% 5 Utility 0.33 0.37% 8 Right-of-Way 27.99 37.97% 2 Total 90.37 100% Source: City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 33 of 83 DRAFT 12-06-2011 D. CONDITION OF STRUCTURES Much of the Urban Renewal Area is represented by the City’s original town plat, with most of the development occurring in the late 1800s and early 1900s (Figure 4, Historic Subdivisions). The average structure within the Urban Renewal Area is 59 years old, with many in excess of 100 years old (13%). The condition of the structures within the Urban Renewal Area was field surveyed in October 2011. Based on the field survey and Real Market Value information from the County Assessor’s Office the condition of each structure was evaluated. Table 2.9 identifies structures by condition and land use. Each structure was judged and classified into one of three categories as follows: 1. New buildings, near-new buildings or older buildings which have been subjected to a high degree of maintenance and care, and essentially comply with basic provisions of the City’s and Oregon’s Building Codes. 2. Older buildings which exhibit certain code deficiencies, but with reasonable rehabilitation effort and continuing maintenance, could serve their owners for at least an additional 40 years, particularly those buildings which appear to be feasible for economic rehabilitation. 3. Older buildings exhibiting deficiencies; which to correct, would require substantial investment by their owners to the degree that rehabilitation may be inappropriate and uneconomic. Typically, the real market improvement value of these buildings was significantly (25%) below the real market value of the land Within the Urban Renewal Area there are 839 structures, 11% were judged to be in Condition “A”, 84% in Condition “B”, and 17% Condition “C”. Of the 839 structures 665 are residential structures housing 1,033 residential dwelling units. Of the residential structures 8% were judged to be in Condition “A”, 67% in Condition “B”, and 25% Condition “C”. Table 2.7 EAST PINE STREET COORIDOR MAJOR LAND USE Use Acres Percent of Sub Area Land Use Rank Vacant 31.95 37.47% 1 Residential 0.00 0.00% - Commercial 13.99 16.41% 3 Industrial 19.14 22.45% 2 Civic 0.00 0.00% - Parks 10.91 12.79% 5 Utility 0.00 0.00% - Right-of-Way 9.28 10.88% 4 Total 85.27 100% Source: City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 34 of 83 DRAFT 12-06-2011 Table 2.8 URBAN RENEWAL ZONING Zoning Urban Renewal Area Sub Areas Urban Renewal District Acres Percent of Urban Renewal District Downtown Northside Southside Hwy. 99 Corridor East Pine Street Corridor Bear Creek Greenway 10.9 2% - - - - 13% R-1-6 52.4 12% - - 15% - - R-2 56.3 13% 3% 58% 7% - - R-3 56.3 13% 16% 28% 20% - - MMR 14.1 3% - 11% - 6% - HMR 31.0 7% 30% - - 7% - TOTAL RESIDENTIAL 210.1 47% 49% 97% 42% 13% - C-2(M) 14.1 3% - - 13% - - EC (TOD) 31.7 7% 15% - - 21% - GC (TOD) 62.7 14% 3% 3% 3% 58% - C-4 76.2 17% 27% - - - 63% TOTAL COMMERCIAL 184.7 41% 44% 3% 26% 79% 63% M-2 21.5 5% - - - - 25% Civic 6.2 1% 4% 4% - 2% - Parks & Open Space 12.9 3% 3% - 4% 8% - TOTAL 446.3 100% 100% 100% 100% 100% 100% Source: City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 35 of 83 DRAFT 12-06-2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 36 of 83 DRAFT 12-06-2011 Table 2.9 CONDITION OF STRUCTURES BY USE Condition of Structures A B C Total No. Dwelling Units Land Use Category No. % No. % No. % No. % TOTAL RESIDENTIAL 51 8% 329 51% 280 41% 660 Single-Family 28 4% 45 Duplex 9 1% 67 Multiple-Family 14 2% 22 Mobile Home Park 0 0% TOTAL COMMERCIAL 25 17% 48 29% 92 56% Office 9 6% Service/Financial 3 1% Retail 9 6% 2 Mixed Use 4 3% INDUSTRIAL 1 14% 0 0% 3 60% Light Industrial 1 14% PUBLIC 6 46% Schools 1 100% Government 5 45% QUASI-PUBLIC 4 36% Church 4 4 Lodge 0 PUBLIC UTILITY 0 Office, etc. 0 Rail Road 0 TOTALS 87 387 368 843 E. INFRASTRUCTURE Those parts of the Urban Renewal Area west of I-5 are part of the original city and some of the City’s oldest subdivisions dating back to the late 1800s and early 1900s (Figure 4, Historic Subdivisions). Consequently, most of the Area’s publicly owned utility systems are very old, but in reasonably sound condition. However, updating, modifications and selected replacement of infrastructure will be needed throughout the duration of this Plan, particularly as needed to serve planned higher density development. This is most critical in Downtown Core Area and the Northside and Southside Neighborhoods, where intensification of residential and commercial development are encouraged, and the existing infrastructure is very old. On the east side of I-5 the infrastructure within the Urban Renewal Area is new and only requires extensions as the area develops. The need for infrastructure improvements is based on consultations with the particular service district/department and prior studies completed by the City. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 37 of 83 DRAFT 12-06-2011 The following summarizes the Urban Renewal Area’s infrastructure needs necessary to mitigate blighting conditions and support the revitalization of the Urban Renewal Area: WATER DISTRIBUTION SYSTEM As a result of the water system’s age there is a need for replacement and capacity improvements. The City’s Public Works Department estimates that approximately $1,250,000 (2011 dollars) will be needed over the next 25 years to upgrade the water system in the Urban Renewal Area. The identified need is based on the City of Central Point’s 2010 Water System Master Plan. SANITARY SEWER SYSTEM The sewer system, particularly in the Downtown and Northside and Southside Neighborhoods, are old. It is expected that upgrading of the system will be required throughout the duration of this Plan, particularly as needed to accommodate redevelopment. Most of the sanitary sewer system projects will occur in the Downtown, Northside, and Southside sub areas. STORM DRAINAGE SYSTEM In general, the storm drainage system within the Urban Renewal Area is very old, but well maintained and functioning satisfactorily. However, as a result of revisions in the FEMA maps there is a need to upgrade the storm drainage system within the Downtown, Hwy. 99 Corridor, Northside, and Southside sub areas to mitigate potential flooding. During the next 25 years, other portions of the system will require upgrading. The identified need is based on the City of Central Point’s 2008 Storm Drainage Master Plan. STREETS As a result of the historic character of much of the Urban Renewal Area and access limitations to I-5, the street system within the Urban Renewal Area is in need of upgrading and capacity expansion. This is particularly true with respect to the single modal character of much of the street system within the Urban Renewal Area. Many of the streets lack adequate transit, pedestrian and bicycle improvements. The City’s street needs for the Urban Renewal Area are documented in the Comprehensive Plan’s Transportation System Plan. The following studies were used in identifying street improvements necessary to adequately serve both the Urban Renewal Area and the City: The East Pine Street Transportation Plan, 2004 The East Pine Street Corridor Refinement Plan, 2012 The I-5 Interchange 33 Access Management Plan, 2012 Many of the Urban Renewal Area’s street curbs, gutters and sidewalks are broken and in need of replacement or repair. Many of the streets within the Northside and Southside sub areas do not have sidewalks, and East Pine Street through the Downtown is narrow and contains numerous obstacles to pedestrian use. Much of the development in the East Pine Street sub area is dependent on major improvements to increase the capacity of East Pine Street, many of which are beyond the financial ability of any single project. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 38 of 83 DRAFT 12-06-2011 2.2.2. SOCIAL AND DEMOGRAPHIC CONDITIONS A. POPULATION The 2010 U.S. Census identified 2,428 people residing within the Urban Renewal Area, representing 14% of the City’s total population of 17,169. Table 2.10 describes the age distribution of the City’s population and compares it with County and the State. The 2010 median age of the City’s population was lower than the State’s, 36.5 vs. 38.4 years. For the Urban Renewal Area the median age was 33.6 years. Table 2.10 POPULATION AGE DISTRIBUTION WITHIN THE URBAN RENEWAL AREA, CITY OF CENTRAL POINT AND OREGON, 2010 Census of Population by Age Urban Renewal Area City of Central Point State of Oregon Age No. % No. % No. % Under 5 Years 184 8% 1,286 7% 237,556 6% 5 to 9 157 6% 1,187 7% 237,214 6% 10 to 14 150 6% 1,284 7% 242,533 6% 15 to 24 358 15% 2,181 13% 507,908 13% 25 to34 365 15% 2,292 13% 524,144 14% 35 to 44 283 12% 2,323 14% 499,525 13% 45 to 54 334 14% 2,228 13% 539,075 14% 55 to 64 273 11% 1,842 11% 509,566 13% 65 to 74 159 7% 1,316 8% 290,041 8% 75 to 84 122 5% 905 5% 165,620 4% 85 Years + 43 2% 325 2% 77,872 2% Median Age 33.6 36.5 38.4 2010 Total Population 2,428 100% 100% 100% Source: 2010 U.S. Census Table 2.11 identifies Central Point’s population growth from 1900 to 2010 and compares it with the population growth in Jackson County and the State. From 2000 to 2010, the City’s growth rate (129%) exceeded by a factor of three the population growth of the County (39%) and the State (35%). B. HOUSING The Urban Renewal Area population is housed in 1,014 dwelling units, for an average of 2.4 persons per dwelling unit at an average gross density of 5.35 units per acre. The City’s average household size is 2.6711 at an average gross density of 3.5 units per acre. The City of Central Point is included in the Greater Bear Creek Valley Regional Plan (Regional Plan). The Regional Plan projects that by 2037 the City’s population will reach 29,600. This represents a population increase of 12,430 over the next 25 years. Of this amount the Urban Renewal Area is planning on capturing 8% of this growth for a population increase in the Urban Renewal Area population of 995. The targeted new 11 City of Central Point Comprehensive Plan, Population Element City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 39 of 83 DRAFT 12-06-2011 population, at an average household size of 2.5, will require the construction of 398 new dwelling units within the Urban Renewal Area. Currently, within the Urban renewal Area there are approximately 10 acres of vacant residential land, which at current zoning can accommodate 248 dwelling units. The balance of the targeted residential units (150 dwelling units) will come from redevelopment of existing residential properties in the Northside Neighborhood and the Southside Neighborhood. Together these two sub areas account for most of the Urban Renewal Area’s residential lands, much of which is zoned R-2, but is developed at R-1 standards. Table 2.12 Vacant Residential Land Development Potential Zoning District Vacant Acres Average Density (DUs/Acre) No. DUs R-2 0.46 7.9 3 R-1-6 0.23 4.8 2 R-1-8 0.00 4.3 0 R-3 1.29 8.2 10 Mixed Use 7.30 40.0 233 Totals 9.70 248 Source: City of Central Point Community Development Department C. HOUSEHOLD INCOME The 2009 American Community Survey figures show that the median household income for the City of Central Point was $55,236 vs. $49,033 for the State as a whole. Table 2.11 POPULATION GROWTH FOR CENTRAL POINT, JACKSON COUNTY, AND OREGON Central Point Jackson County Oregon Year Population % Change % of County Population % Change % of State Population % Change 1900 322 - 2% 13,698 3% 413,536 1910 761 136% 3% 25,756 88% 4% 672,765 63% 1920 582 -24% 3% 20,405 -21% 3% 783,389 16% 1930 821 41% 2% 32,918 61% 3% 953,786 22% 1940 906 10% 3% 36,213 10% 3% 1,089,684 14% 1950 1,667 84% 3% 58,510 62% 4% 1,521,341 40% 1960 2,289 37% 3% 73,962 26% 4% 1,768,687 16% 1970 4,004 75% 4% 94,533 28% 5% 2,091,533 18% 1980 6,357 59% 5% 132,456 40% 5% 2,633,156 26% 1990 7,512 18% 5% 146,389 11% 5% 2,842,321 8% 2000 12,493 66% 7% 181,273 24% 5% 3,421,399 20% 2010 17,169 129% 8% 203,206 39% 5% 3,831,074 35% Source: U.S. Census City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 40 of 83 DRAFT 12-06-2011 Household income figures for the Urban Renewal Area are not available. The Urban Renewal Area is within Census Tract 10, which had a 2009 median income of $50,926. However, Census Tract 10 represents an area that includes not only the Urban Renewal Area but much of the City and surrounding county lands. Consequently, the median income information does not accurately represent the Urban Renewal Area’s household income. A review of poverty levels in the City of Central Point provides insights into household income levels within the Urban Renewal Area. Based on the percentage of households below poverty level the annual incomes available to households and families within the Urban Renewal Area are considerably lower than for the City as a whole. As illustrated in Figure 5, Urban Renewal Boundary and Household Poverty, the Urban Renewal Area contains a large percentage of the City’s households with incomes below poverty level. The household (family of 4) poverty level is defined as $22,350 (total yearly income)12. D. UNEMPLOYMENT Unemployment data for the City of Central Point is not available. In September 2011 the unemployment rates for Jackson County and the State of Oregon were 11.6% and 9.6% respectively (Table 2.13). The Jackson County consistently has a higher unemployment rates than the State and the State is consistently higher than the nation. Table 2.13 JACKSON COUNTY, OREGON, AND U.S. UNEMPLOYMENT RATES, 2011 Jackson County State of Oregon United States 11.6% 9.6% 9.1% 12 2011 HHS Poverty Guidelines, U.S. Department of Health and Human Services City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 41 of 83 DRAFT 12-06-2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 42 of 83 DRAFT 12-06-2011 2.2.3. ECONOMIC CONDITIONS A general indicator of the Urban Renewal Area’s economic condition is readily expressed in its assessed value history vs. that of the underlying taxing districts. The impact of the recent Great Recession (2007-09) on assessed values, both within and outside the Urban Renewal Area, can be seen in the later years as the annual rate of growth in assessed values is increasing, but at a decreasing rate. The following sections discuss both the assessed value history of the Urban renewal Area and the underlying taxing districts. A. ASSESSED VALUE OF URBAN RENEWAL AREA The fiscal year 2011-12 assessed value for the Urban Renewal Area was $131,424,528. This amount accounted for13.1% of the City total assessed value, and is within the 25% maximum authorized in ORS 457.420 (2)(b)(A). The $131,424,528 will serve as the Urban Renewal Area’s Base Value. Throughout the duration of the Urban Renewal Plan any increases in the assessed value within the Urban Renewal Area above the Base Value will be used to finance implementation of the Urban Renewal Plan, while the affected taxing districts will continue to receive tax proceeds for the Base Year figure. Table 2.14 compares the growth in the Urban Renewal Area’s assessed value (AV) from 2007 through 2012 to that of the City (net of the Urban Renewal Area). From 2007 through 2012 the average rate of growth in the City’s assessed value was 4.8%, while that of the Urban Renewal Area was only 1.6%. For FY2011-12 the total assessed value for the Urban Renewal Area actually declined (see Table 2.14). If the Urban Renewal Area were included in the City’s assessed value the average annual rate of growth in the City’s assessed value would drop to 4.3%. As illustrated in Table 2.14, the assessed value of the Urban Renewal Area is significantly less than the rest of the City (Table 2.16) and between 2011 and 2012 has declined by 1.6%. Without the injection of the public improvements proposed in the Urban Renewal Plan, this declining trend will continue and a transfer in the taxing burden will continue to other areas of the City--particularly the residential sectors. Assuming an average inflation rate of 3% the Urban Renewal Area has been unable to maintain the cost of services, relying on the rest of the City to cover any shortfall. Table 2.15 tracks changes in the Urban Renewal Area’s assessed value by land use category. The most significant decline has occurred in the Commercial and Industrial land use categories, with Residential experiencing less than 1% growth. B. HISTORIC ASSESSED VALUE AND TAX RATES OF AFFECTED TAXING DISTRICTS Tables 2.16 through 2.24 identify the historical AV, annual change, tax rates and tax proceeds for the affected taxing districts for the period 199813 through 2011-12. As illustrated in the Tables 2.16 through 2.24 the past fifteen years has witnessed both highs and lows in annual AV growth, averaging in excess of 5% for most taxing districts. TABLE 2.14 13 First fiscal year after Measure 50 tax assessment changes. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 43 of 83 DRAFT 12-06-2011 HISTORY OF ASSESSED PROPERTY VALUES, CITY OF CENTRAL POINT vs. URBAN RENEWAL AREA City of Central Point Urban Renewal Area Fiscal Year Net Assessed Value Annual Growth Rate Net Assessed Value Annual Growth Rate 2006-07 $ 717,261,552 - $ 121,560,032 - 3,749,449 2007-08 $ 771,793,754 7.6% $ 127,684,191 5.0% 4,020,576 2008-09 $ 818,399,033 6.0% $ 130,825,533 2.5% 4,242,939 2009-10 $ 856,508,631 4.7% $ 131,489,250 0.5% 4,416,252 2010-11 $ 887,825,065 3.7% $ 133,371,628 1.4% 4,564,647 2011-12 $ 904,609,548 1.9% $ 131,424,528 (1.5%) 4,630,969 Average 4.8% 1.6% Source: Jackson County Tax Assessor and City of Central Point Community Development Department Table 2.15 HISTORY OF ASSESSED VALUE WITHIN URBAN RENEWAL AREA BY LAND USE CATEGORY, 2007 THROUGH 2012 Land Use Category FY2006-07 FY2007-08 FY2008-09 FY2009-10 FY2010-11 FY2011-12 % Change FY2010-12 Vacant $5,853,919 $10,716,090 $7,851,660 $7,466,970 $7,227,870 $7,087,880 (1.9%) Residential $69,775,220 $71,859,076 $73,185,594 $75,136,260 $75,535,158 $76,005,118 0.6% Commercial $43,216,592 $42,351,992 $46,930,469 $45,981,490 $47,754,890 $45,692,820 (4.3%) Industrial $2,273,461 $2,319,623 $2,406,470 $2,439,680 $2,374,950 $2,169,430 (8.6%) Quasi-Public $431,980 $428,290 $441,960 $445,190 $468,820 $459,340 (2.0%) Public Utility $8,860 $9,120 $9,380 $9,660 $9,940 $9,940 0% TOTAL $121,560,032 $127,684,191 $130,825,533 $131,489,250 $133,371,628 $131,424,528 (1.6%) Source: City of Central Point Community Development Department and Jackson County Assessors Office City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 44 of 83 DRAFT 12-06-2011 TABLE 2.16 CITY OF CENTRAL POINT, HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 372,108,000 - $ 5.83 $ 2,169,390 1998-99 $ 392,047,000 5.4% $ 5.83 $ 2,285,634 1999-00 $ 431,004,000 9.9% $ 5.83 $ 2,512,753 2000-01 $ 485,499,000 12.6% $ 5.83 $ 2,829,876 2001-02 $ 544,037,650 12.1% $ 4.47 $ 2,431,794 2002-03 $ 595,772,030 9.5% $ 4.47 $ 2,663,041 2003-04 $ 653,586,907 9.7% $ 4.47 $ 2,921,468 2004-05 $ 715,171,267 9.4% $ 4.47 $ 3,196,744 2005-06 $ 771,105,471 7.8% $ 4.47 $ 3,446,764 2006-07 $ 831,821,584 8.8% $ 4.47 $ 3,749,449 2007-08 $ 899,477,945 7.2% $ 4.47 $ 4,020,576 2008-09 $ 949,224,566 5.5% $ 4.47 $ 4,242,939 2009-10 $ 987,997,881 4.1% $ 4.47 $ 4,416,252 2010-11 $ 1,021,196,693 3.4% $ 4.47 $ 4,564,647 2011-12 $ 1,036,034,076 1.5% $ 4.47 $ 4,630,969 Average 9.6% $ 4.83 Source: Jackson County Tax assessor and City of Central Point Community Development Department TABLE 2.17 JACKSON COUNTY, HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 8,039,161,498 - $ 1.97 $ 15,800,972 1998-99 $ 8,413,039,772 4.7% $ 1.97 $ 16,535,830 1999-00 $ 8,954,010,340 6.4% $ 2.01 $ 17,996,665 2000-01 $ 9,497,826,006 6.1% $ 2.28 $ 21,653,144 2001-02 $ 10,086,117,049 6.2% $ 2.39 $ 24,136,078 2002-03 $ 10,583,879,844 4.9% $ 2.38 $ 25,177,992 2003-04 $ 11,144,084,790 5.3% $ 2.50 $ 27,914,818 2004-05 $ 11,765,900,908 5.6% $ 2.47 $ 29,091,190 2005-06 $ 12,442,593,882 5.8% $ 2.27 $ 28,234,734 2006-07 $ 13,231,616,506 6.3% $ 2.24 $ 29,661,315 2007-08 $ 13,981,517,900 5.7% $ 2.25 $ 31,505,952 2008-09 $ 14,634,957,230 4.7% $ 2.34 $ 34,294,095 2009-10 $ 15,648,051,136 6.9% $ 2.37 $ 37,045,196 2010-11 $ 15,981,129,412 2.1% $ 2.33 $ 37,197,677 2011-12 $ 16,449,455,277 2.9% $ 2.08 $ 34,134,265 Average 5.4% $ 2.26 Source: Jackson County Tax assessor and City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 45 of 83 DRAFT 12-06-2011 TABLE 2.18 VECTOR CONTROL , HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 8,039,161,498 - $ 0.04 $ 338,449 1998-99 $ 8,413,039,772 4.7% $ 0.04 $ 354,189 1999-00 $ 8,954,010,340 6.4% $ 0.04 $ 384,127 2000-01 $ 9,497,826,006 6.1% $ 0.04 $ 407,457 2001-02 $ 10,086,117,049 6.2% $ 0.04 $ 432,694 2002-03 $ 10,583,879,844 4.9% $ 0.04 $ 454,048 2003-04 $ 11,144,084,790 5.3% $ 0.04 $ 478,081 2004-05 $ 11,765,900,908 5.6% $ 0.04 $ 504,757 2005-06 $ 12,442,593,882 5.8% $ 0.04 $ 533,787 2006-07 $ 13,231,616,506 6.3% $ 0.04 $ 567,636 2007-08 $ 13,981,517,900 5.7% $ 0.04 $ 599,807 2008-09 $ 14,634,957,230 4.7% $ 0.04 $ 627,840 2009-10 $ 15,648,051,136 6.9% $ 0.04 $ 671,301 2010-11 $ 15,981,129,412 2.1% $ 0.04 $ 685,590 2011-12 $ 16,449,455,277 2.9% $ 0.04 $ 664,558 Average 5.4% $ 0.04 Source: Jackson County Tax assessor and City of Central Point Community Development Department TABLE 2.19 EDUCATION SERVICE DISTRICT, HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 8,039,161,498 - $ 0.35 $ 2,779,942 1998-99 $ 8,413,039,772 4.7% $ 0.35 $ 2,909,229 1999-00 $ 8,954,010,340 6.4% $ 0.35 $ 3,155,393 2000-01 $ 9,497,826,006 6.1% $ 0.35 $ 3,347,034 2001-02 $ 10,086,117,049 6.2% $ 0.35 $ 3,554,348 2002-03 $ 10,583,879,844 4.9% $ 0.35 $ 3,729,759 2003-04 $ 11,144,084,790 5.3% $ 0.35 $ 3,927,175 2004-05 $ 11,765,900,908 5.6% $ 0.35 $ 4,146,303 2005-06 $ 12,442,593,882 5.8% $ 0.35 $ 4,384,770 2006-07 $ 13,231,616,506 6.3% $ 0.35 $ 4,662,822 2007-08 $ 13,981,517,900 5.7% $ 0.35 $ 4,927,087 2008-09 $ 14,634,957,230 4.7% $ 0.35 $ 5,157,359 2009-10 $ 15,648,051,136 6.9% $ 0.35 $ 5,514,373 2010-11 $ 15,981,129,412 2.1% $ 0.35 $ 5,631,750 2011-12 $ 16,449,455,277 2.9% $ 0.35 $ 5,769,788 Average 5.3% $ 0.35 Source: Jackson County Tax assessor and City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 46 of 83 DRAFT 12-06-2011 TABLE 2.21 ROGUE COMMUNITY COLLEGE, HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 8,039,161,498 - $ 0.50 $ 4,051,737 1998-99 $ 8,413,039,772 4.7% $ 0.50 $ 4,240,172 1999-00 $ 8,954,010,340 6.4% $ 0.51 $ 4,591,617 2000-01 $ 9,497,826,006 6.1% $ 0.51 $ 4,870,485 2001-02 $ 10,086,117,049 6.2% $ 0.51 $ 5,172,161 2002-03 $ 10,583,879,844 4.9% $ 0.51 $ 5,427,414 2003-04 $ 11,144,084,790 5.3% $ 0.51 $ 5,714,687 2004-05 $ 11,765,900,908 5.6% $ 0.51 $ 6,033,544 2005-06 $ 12,442,593,882 5.8% $ 0.51 $ 6,380,562 2006-07 $ 13,231,616,506 6.3% $ 0.51 $ 6,785,173 2007-08 $ 13,981,517,900 5.7% $ 0.51 $ 7,169,722 2008-09 $ 14,634,957,230 4.7% $ 0.51 $ 7,504,806 2009-10 $ 15,648,051,136 6.9% $ 0.51 $ 8,024,321 2010-11 $ 15,981,129,412 2.1% $ 0.51 $ 8,195,123 2011-12 $ 16,449,455,277 2.9% $ 0.62 $ 10,187,148 Average 5.3% $ 0.52 Source: Jackson County Tax assessor and City of Central Point Community Development Department TABLE 2.20 SOIL & WATER CONSERVATION HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 - - - $ 338,449 1998-99 - - - $ 354,189 1999-00 - - - $ 384,127 2000-01 - - - $ 407,457 2001-02 - - - $ 432,694 2002-03 - - - $ 454,048 2003-04 - - - $ 478,081 2004-05 - - - $ 504,757 2005-06 - - - $ 533,787 2006-07 - - - $ 567,636 2007-08 $ 13,981,517,900 - $ 0.05 $ 599,807 2008-09 $ 14,634,957,230 4.7% $ 0.05 $ 627,840 2009-10 $ 15,648,051,136 6.9% $ 0.05 $ 671,301 2010-11 $ 15,981,129,412 2.1% $ 0.05 $ 685,590 2011-12 $ 16,449,455,277 2.9% $ 0.05 $ 822,473 Average 4.3% $ 0.05 Source: Jackson County Tax assessor and City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 47 of 83 DRAFT 12-06-2011 TABLE 2.22 ROGUE VALLEY TRANSIT DISTRICT, HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 6,132,841,620 - $ 0.17 $ 1,062,208 1998-99 $ 6,417,976,832 4.6% $ 0.17 $ 1,111,594 1999-00 $ 6,831,409,297 6.4% $ 0.18 $ 1,210,526 2000-01 $ 7,281,156,848 6.6% $ 0.18 $ 1,290,221 2001-02 $ 7,711,453,216 5.9% $ 0.18 $ 1,366,470 2002-03 $ 8,093,483,788 5.0% $ 0.18 $ 1,434,165 2003-04 $ 8,505,757,597 5.1% $ 0.18 $ 1,507,220 2004-05 $ 8,913,599,738 4.8% $ 0.18 $ 1,579,490 2005-06 $ 9,416,325,079 5.6% $ 0.18 $ 1,668,573 2006-07 $ 10,003,654,409 6.2% $ 0.18 $ 1,772,648 2007-08 $ 10,575,618,155 5.7% $ 0.18 $ 1,874,000 2008-09 $ 11,075,152,342 4.7% $ 0.18 $ 1,962,517 2009-10 $ 11,883,536,537 7.3% $ 0.18 $ 2,105,763 2010-11 $ 12,126,517,275 2.0% $ 0.18 $ 2,148,819 2011-12 $ 12,520,903,116 3.3% $ 0.18 $ 2,218,704 Average 5.2% $ 0.18 Source: Jackson County Tax assessor and City of Central Point Community Development Department TABLE 2.23 CENTRAL POINT SCHOOL DISTRICT NO. 6, HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 3,592,453,064 - $ 5.13 $18,423,896 1998-99 $ 3,763,261,313 4.8% $ 5.23 $19,668,309 1999-00 $ 3,977,056,893 5.7% $ 5.24 $20,828,245 2000-01 $ 4,222,036,153 6.2% $ 5.18 $21,857,059 2001-02 $ 1,232,482,601 -70.8% $ 4.41 $ 5,439,439 2002-03 $ 1,311,460,541 6.4% $ 5.91 $ 7,755,978 2003-04 $ 1,390,673,479 6.0% $ 6.05 $ 8,412,184 2004-05 $ 1,476,983,621 6.2% $ 5.81 $ 8,587,183 2005-06 $ 1,562,389,666 5.8% $ 5.74 $ 8,972,804 2006-07 $ 1,667,846,046 6.7% $ 5.76 $ 9,603,458 2007-08 $ 1,760,209,780 5.5% $ 5.72 $ 10,075,441 2008-09 $ 1,849,047,473 5.0% $ 5.73 $ 10,589,496 2009-10 $ 2,168,572,508 17.3% $ 5.57 $ 12,068,106 2010-11 $ 2,181,909,096 0.6% $ 5.60 $ 12,207,837 2011-12 $ 2,215,710,700 1.5% $ 5.67 $ 12,573,050 Average 6.1% $ 4.83 Source: Jackson County Tax assessor and City of Central Point Community Development Department Notes 1 Calculated from 2002-2012 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 48 of 83 DRAFT 12-06-2011 TABLE 2.24 FIRE DISTRICT NO. 3, HISTORY OF ASSESSED PROPERTY VALUES, TAX RATES, AND TAX PROCEEDS Fiscal Year Net Assessed Value Annual Growth Rate Tax Rate Per $1,000 Rate Generated Tax Proceeds 1997-98 $ 1,514,163,768 - $ 2.07 $ 3,134,319 1998-99 $ 1,549,869,225 2.4% $ 2.07 $ 3,207,208 1999-00 $ 1,636,959,745 5.6% $ 2.02 $ 3,308,370 2000-01 $ 1,761,494,295 7.6% $ 1.96 $ 3,458,114 2001-02 $ 1,880,867,920 6.8% $ 2.69 $ 5,059,534 2002-03 $ 2,004,804,393 6.6% $ 2.99 $ 5,994,365 2003-04 $ 2,128,668,120 6.2% $ 3.12 $ 6,640,167 2004-05 $ 2,273,993,637 6.8% $ 3.12 $ 7,093,496 2005-06 $ 2,462,253,348 8.3% $ 3.12 $ 7,680,753 2006-07 $ 2,668,956,501 8.4% $ 3.12 $ 8,325,543 2007-08 $ 2,812,352,578 5.4% $ 3.12 $ 8,772,853 2008-09 $ 2,973,076,275 5.7% $ 3.12 $ 9,274,214 2009-10 $ 3,569,331,147 20.1% $ 3.12 $ 11,134,172 2010-11 $ 3,605,600,896 1.0% $ 3.12 $ 11,247,311 2011-12 $ 3,654,905,277 1.4% $ 3.12 $ 11,401,112 Average 6.6% $ 2.79 Source: Jackson County Tax assessor and City of Central Point Community Development Department TABLE 2.25 AVERAGE ANNUAL TAX RATES OF AFFECTED TAXING DISTRICTS ($1,000/AV) AFFECTED TAX DISTRICTS 1998 to 2012 ASSESSED VALUE City of Central Point $4.83 Jackson County $2.26 Fire District No. 3 $2.79 Rogue Valley Transit District $0.18 Vector Control $0.04 Water Conservation $0.05 School District No. 6 $5.52 Rogue Community College $0.52 Education Service District $0.35 Total Average Tax Rate $16.50 Source: Jackson County Tax assessor and City of Central Point Community Development Department. 2.2.4 FISCAL IMPACT OF THE URBAN RENEWAL PLAN IN LIGHT OF ADDED SERVICES OR INCREASED POPULATION The Urban Renewal Plan is based on improvements as prescribed in Section 1.6, Urban Renewal Activities, of the Plan that will encourage and leverage private investment in housing and commercial development as follows: City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 49 of 83 DRAFT 12-06-2011 RESIDENTIAL DEVELOPMENT To accommodate the anticipated population growth allocated to the Urban Renewal Area an estimated 398 new residential units will be constructed by the private sector. It is estimated that this new residential development will add approximately $45,000,000 to the Urban Renewal Area’s assessed value. COMMERCIAL DEVELOPMENT Based on the availability of vacant and redevelopment property it is estimated that the Urban Renewal Area will realize approximately $133,000,000 in new and remodel private sector commercial development. The projects and activities identified in the Plan with an estimated cost of $67,508,618. Over the course of the Urban Renewal Plan’s duration it is estimated that total implementation costs will be $88,910,099. This figure includes the cost of all projects and activities (Maximum Indebtedness), and financing costs. Improvements to the Urban Renewal Area’s infrastructure should reduce the City’s operation and maintenance costs presently experienced and encourage new private sector investment, resulting in increases in the Urban Renewal Area’s assessed values. Rehabilitation and redevelopment of older buildings and making possible the private sector’s development of new facilities on the area’s vacant land should substantially improve the area’s assessed value allowing all affected taxing districts a broader economic base on which to levy taxes when the tax increment process is terminated. Table 2.26 identifies the Urban Renewal Area’s 2011-12 AV as a percentage of each of the affected taxing districts. The taxing districts most impacted by the Urban Renewal Plan, in order of impact, are; the City of Central Point (13.61%), School District No. 6 (6.15%), and Fire District No. 3 (3.73%). For all other tax districts the Urban Renewal Area’s Base Value is less than 1% of their total assessed value. Since the Urban Renewal Area is predominantly zoned for commercial land uses, the affect on the Area’s population is only minimum--(see below). However, increased retail, office and service development is expected to provide job opportunities for many TABLE 2.26 PERCENTAGE OF URBAN RENEWAL AREA ASSESSED VALUE ($136,370,248) OF EACH TAX DISTRICT Affected Tax Districts 2011-12 Total Assessed Value Percentage in Urban Renewal Area City of Central Point $1,021,196,693 13.61% Jackson County $15,981,129,412 0.83% Fire District No. 3 $3,605,600,896 3.73% Rogue Valley Transit District $12,126,517,275 1.09% Vector Control $15,981,129,412 0.83% Water Conservation $15,981,129,412 0.83% School District No. 6 $2,181,919,096 6.15% Rogue Community College $15,981,129,412 0.83% Education Service District $15,981,129,412 0.83% Source: City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 50 of 83 DRAFT 12-06-2011 of the City’s unemployed and under employed. It is not anticipated that the Renewal Program, in itself, will attract a significant additional population to the City. SECTION 2.3 URBAN RENEWAL AREA SELECTION Urban Renewal Law requires that this Report explain the “. . . reasons for the selection of each urban renewal area in the plan14”. The Urban Renewal Area is a single geographic area (Figure 1, Urban renewal Boundary). For planning and discussion purposes it has been divided into five distinct sub areas (Figure 2, Urban Renewal Boundary and Planning Subareas). The Urban renewal Area accounts for 446.3 acres, representing the core of the City, both historically and geographically, which are the underlying reasons for selection of the lands comprising the Urban Renewal Area. Historically, most of the Urban Renewal Area is represented by the original Town of Central Point, founded in 1889. Figure 4, Historic Subdivisions, illustrates the age of the built Urban Renewal Area lands. In general, much of the Urban Renewal Area is over 100 years old. With this age comes blight related conditions such as antiquated infrastructure, older substandard buildings, a decline in the ability to compete with and attract new development, all of which collectively leads to a decline in private investment. Geographically, the City’s growth has followed a generally concentric pattern, retaining the Urban Renewal Area as the City’s core. In the long run this geographic attribute is a definite asset in the future of the City as it continues to grow. Having a well defined urban core that is historic, attractive, functional, and easily accessible to all citizens; can only improve the City’s overall livability. The reasoning for selection of the lands within the Urban Renewal Area can be further supported based on the conditions of each of the five sub areas in the Urban Renewal Area. DOWNTOWN (82.74 ACRES) This sub area is the older historic commercial center of the City, with East Pine Street serving as both a downtown main street, and the City’s primary east/west arterial thoroughfare. This sub area is challenged by many of the factors that affect all older downtowns, including the need to redefine its purpose, lack of pedestrian amenities, older buildings and infrastructure, and lack of both private and public investment. Goal: to improve the area as the City’s historic mixed-use urban core, with a strong pedestrian character and multi-modal emphasis. HWY. 99 CORRIDOR (90.37 ACRES) This sub area is the old Hwy. 99 commercial strip serving as the City’s north/south arterial thoroughfare. This sub area is an older auto dominated commercial strip with very few amenities for bicycle and pedestrian use. As a main thoroughfare through the City it is lacking in safe vehicular ingress/egress, pedestrian/bicycle safety, and aesthetic appeal. Goal: to improve quality of area as a gateway to Central Point and the Downtown. SOUTHSIDE NEIGHBORHOOD (105.28 ACRES) 14 ORS 457.085(3)(b) City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 51 of 83 DRAFT 12-06-2011 This sub area is one of the original residential neighborhoods of the City. The Southside neighborhood was platted in 1887, almost two years prior to incorporation of the Town of Central Point. This sub area is lacking in pedestrian improvements, and is in need of infrastructure modernization and residential re-investment strategies. Along the southern boundary of this sub area there is an older commercial area (old hospital) that needs revitalization and integration into the neighborhood. Goal: to improve the area as an attractive high density residential neighborhood to the Downtown. NORTHSIDE NEIGHBORHOOD (81.37 ACRES) This sub area is also part of the original Central Point plat (1887) and is an older residential neighborhood north of the Downtown. The predominant land use in the Northside Neighborhood is single-family detached, but now zoned for duplex (R-2). The area is lacking in pedestrian improvements, and is in need of infrastructure modernization, and residential re-investment strategies. Goal: to strengthen the residential character of this neighborhood. EAST PINE STREET CORRIDOR (86.54 ACRES) This sub area includes the commercial area east of the I-5 Interchange No. 33 and is dominated by vacant commercial lands. Development of this sub area is challenged by the need for major transportation improvements to both the regional and local street network. The needed improvements are beyond the financial scope of any single project. Goal: to improve the area as the easterly gateway to the City and the Downtown. In summary, the selection of the lands within the Urban Renewal Area is based on the following considerations: A. The presence of blighted conditions as described in Section 2.2, Current Conditions, of this Report; B. The need to create an environment that will attract private investment in the Area; C. The need to renew and redevelop the public infrastructure in a manner that encourages and leverages private investment in the Area; and D. The revitalization of the Urban Renewal Area in such a manner as to facilitate and strengthen the economic and aesthetic vitality of the Urban Renewal Area as the City’s traditional mixed-use urban core through the attraction and maximization of public and private investments. Together, the historic and geographic nature of the Urban Renewal Area, along with the specific condition and needs of each sub area, serves as the reasoning for selection of the boundaries of the Urban Renewal Area. SECTION 2.4 PROJECT SELECTION City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 52 of 83 DRAFT 12-06-2011 Urban Renewal Law requires that this Report discuss the “. . . relationship between each project to be undertaken under the plan and the existing conditions in the urban renewal area.15” The listed projects and activities were selected to target the elimination of an existing blight condition, or a condition that is an underlying cause of blight, in a manner consistent with the goal of each sub area and the Mission, Goals and Objectives of the Urban Renewal Plan. 2.4.1 URBAN RENEWAL PROJECTS AND RELATIONSHIP TO BLIGHT MITIGATION The Urban Renewal Plan identifies fifteen (15) projects. Those projects are listed in Table 4.01. Table 4.01 URBAN RENEWAL PLAN PROJECTS AND ACTIVITIES Project No. Project Description 1 Downtown Core Area Streetscape Improvements 2 East Pine Street Improvements, East of 10th Street 3 Neighborhood Sidewalks, Street Lighting, and Alleys 4 Hwy. 99 Corridor Improvements 5 Intersection Signalization 6 Off-Street Parking 7 Underground Existing Pole Mounted Utility Systems 8 Gebard Road Extension 9 Pfaff Park Renovation 10 Freeman Road Upgrade to Collector Street Standards 11 Peninger Road Southerly Extension 12 Miscellaneous Public Works 13 City of Central Point Community Center 14 Economic Development Incentive Program 15 Fire Safety The primary purpose of each project is to encourage and facilitate private investment in the Urban Renewal Area, targeting the elimination of blight related conditions. The following discusses the relationship between each project in Table 4.01 and existing conditions within the Urban Renewal Area: 1. DOWNTOWN CORE AREA STREETSCAPE IMPROVEMENTS. The streetscape system within the Downtown Core Area (Figure 6, Downtown Core Area) is substandard with regard to pedestrian, bicycle, and handicapped access, and as such are inadequate considering the retail and commercial character of the downtown. For a main street the sidewalks in the Downtown Core Area are narrow and cluttered with a variety of obstructions making use of the sidewalks difficult, as well as aesthetically unappealing. The purpose of this project is to improve not only the function of the streetscape, but also the areas aesthetic appeal, both of which are necessary to compete with newer commercial areas for private investment. 15 ORS 457.085(3)(c) City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 53 of 83 DRAFT 12-06-2011 Implementation of this project will be accomplished through the preparation of a master streetscape plan for the Downtown Core Area addressing the design and establishment of standards for curb and gutter, sidewalks, crosswalks, street trees, tree grates, street lights, plazas, gateways, corner extensions, and street furniture. 2. EAST PINE STREET IMPROVEMENTS, EAST OF 10TH STREET. Based on prior traffic studies there has been identified the need for substantial improvements to East Pine Street between Peninger Road and Hamrick Road. These improvements include the widening and additional signalization for this section of East Pine Street. Much of the area served by this section of East Pine Street is vacant commercial property, the development of which is dependent on these improvements. 3. NEIGHBORHOOD SIDEWALKS, STREET LIGHTING, AND ALLEYS. Both the Northside Neighborhood and the Southside Neighborhood (Figure 2, Urban Renewal Boundary and Planning Sub Areas) are older residential areas, platted as far back as 1887. The streetscape system in these areas is substandard including the absence of sidewalks, limited street lighting and other pedestrian amenities characteristic of newer residential neighborhoods. Consequently, the general curb appeal for these neighborhoods is disadvantaged by the lack of such streetscape amenities as sidewalks, street trees, and lighting. The installation of sidewalks and street lights on all residential streets, and the pavement of alleys within the Northside Neighborhood and Southside Neighborhood will assist in the stabilization of both neighborhoods’ aesthetic and property values. 4. HWY. 99 CORRIDOR IMPROVEMENTS. Similar to the Downtown Core Area Streetscape project, the objective of the Hwy. 99 Improvement project is to improve the overall safety and aesthetics of the Hwy. 99 corridor. As a primary gateway to the City of Central Point Hwy. 99 has a significant impact on the City’s image. Improve Front Street from the proposed Twin Creeks railroad crossing south to Bush Street to arterial street standards in accordance with an approved master street plan for Hwy. 99, including, but not limited to travel lane reconfiguration, curb and gutter, sidewalks, street lights, traffic signals, pedestrian lights, street trees and tree grates, traffic signals, gateways, plazas, crosswalks, and landscaping. 5. INTERSECTION SIGNALIZATION. In conjunction with Projects 1, 2, 3 and 4 there will be a need to install/upgrade/modify specific traffic signals. These signal improvements are necessary for safety reasons and to maintain an acceptable level of service necessary to accommodate development within and adjacent to the Urban Renewal Area. The proposed signal locations are: a. Twin Creeks Dr. install new railroad crossing and signalize intersection at Hwy. 99 and Twin Creeks Dr. and new railroad crossing at Twin Creeks Dr. Improvements shall include, but not be limited to easement acquisition, curb and gutter, street surface improvement, railroad crossing signalization, Hwy. 99 signalization, sidewalks, street lights, and landscaping. b. Pine St. and Second St. add new signals; c. Pine St. and Sixth St. add new signals; d. Pine St. and Fourth St. remove existing signal; e. Pine St. and Gebhard Road extension add a new signal; City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 54 of 83 DRAFT 12-06-2011 f. Pine St. and Penninger Rd. modify/remove signal; and g. Hwy. 99 and Fire District No. 3 Station add emergency signal. 6. OFF-STREET PARKING FACILITIES. The City owns two unimproved public parking lots within the Downtown area. Because of the condition of these parking lots they are both an aesthetic and air quality nuisance. All public parking constructed under the provisions of this Section shall comply with the objectives and policies of the City of Central Point Transportation System Plan and with the applicable standards as set forth in the Land Development Code. The construction of the parking lots listed below shall be consistent with an approved plan for downtown parking. During the planning and design phase of the parking facility the Commission will have prepared a written parking analysis to define the service area, determine the demand for parking within the service area, the parking mix (leased vs. free), operating costs, and parking duration (long-term vs. short-term). a. Oak Street Facility. Design and construct a parking facility on the southeast corner of Oak Street and Third Street. b. Manzanita Street Facility. Design and construct a parking facility on the southeast corner of Manzanita Street and First St. 7. UNDERGROUND EXISTING POLE MOUNTED UTILITY SYSTEMS. A major consideration to the beautification of the Within the Downtown Core area, and along Hwy. 99 underground existing overhead utilities. 8. GEBARD RD. EXTENSION. Extend Gebard Rd. from E. Pine St. as a collector street, north to the City limits in accordance with the City’s Transportation System plan. This project was identified in the East Pine Street Traffic Study as a necessary improvement to relieve traffic congestion on East Pine Street, thereby allowing the development. 9. PFAFF PARK RENOVATION. Pfaff Park is centrally located within the Urban Renewal Area and is in need of improvements, making it more useful and accessible to the surrounding neighborhoods. The proposed renovations include new landscaping, restroom facilities, playground equipment, and lighting. This is in addition to perimeter sidewalks provided by Project No. 6. 10. FREEMAN ROAD UPGRADE TO COLLECTOR STREET STANDARDS. Freeman Road serves as an easterly border to the Urban Renewal Area. Currently, Freeman Road is a substandard street functioning as a collector. It is two-lanes in width with no curb, gutter, sidewalk, bike lanes, or street lights. Freeman Road also functions as Transit Route 40. Under current conditions Freeman Road is unsafe for pedestrian, bicycle and transit use. The objective of this project is to upgrade Freeman Road from Oak Street to Hopkins Road to collector street standards, making it a safe and aesthetically attractive street. 11. SOUTH PENINGER ROAD EXTENSION. Extend Peninger Road south across Bear Creek to collector street standards to intersect with Hamrick Road. Improvements will include right-of-way acquisition, bridge crossing and bike lanes. This project was identified in the East Pine Street Traffic Study as a necessary improvement to relieve traffic congestion on East Pine Street, thereby allowing the development. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 55 of 83 DRAFT 12-06-2011 12. MISCELLANEOUS PUBLIC WORKS. Throughout the Urban Renewal Area, particularly in the Downtown, Northside, and Southside neighborhoods, there is a need to upgrade existing public facilities, such as water, storm drainage, etc., to serve existing and future development in the Urban Renewal Area. Throughout the life of the Urban Renewal Plan, the Commission, consistent with their priorities and financial resources, may assume the costs, or share of the costs, of engineering and constructing public works projects within the Urban Renewal Area as necessary to further the objectives of the Urban Renewal Plan. Such projects may include the installation or reconstruction of the following: a. Storm Drains; b. Sanitary Sewers; c. Water Mains and Fire Hydrants; d. Curbs and Gutters; e. Sidewalks, including landscaping within right-of-way; f. Street Work; and g. Alley Paving. 13. CITY OF CENTRAL POINT COMMUNITY CENTER. The City of Central Point has identified a need for a community center. Because of the central location of the Urban Renewal Area to the Central Point community, location of the community center within the Urban Renewal Area is being considered. A community center would serve as a major use within the Urban Renewal Area generating additional economic activity. This project is intended to proportionately assist in the design and development of a community center within the Urban Renewal Area based on the community center’s benefit to the Urban Renewal Area. Prior to any financial participation in the community center it will be necessary that the Commission determine the percentage benefit of the community center to the Urban Renewal Area. 14. ECONOMIC DEVELOPMENT INCENTIVE PROGRAMS. In an effort to facilitate private investment in the Urban Renewal Area in conjunction with the Urban Renewal Plan’s projects 1 through 13 the Commission will design and make available incentives the will encourage private sector investment in the Urban renewal Area. Prepare and implement economic development incentive programs that encourage residential and commercial development/redevelopment within the Area. 15. FIRE SAFETY. As a result of the Urban Renewal Area’s revitalization in residential and commercial structures it will be necessary to increase capital investment in fire safety equipment sufficient to maintain acceptable levels of fire safety service. This project anticipates, and provides funds, for the addition of fire safety equipment. The specific need and timing for such equipment will be coordinate with Fire District No. 3. SECTION 2.5 PROJECT COSTS, FUNDING, COMPLETION, AND MAXIMUM INDEBTEDNESS City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 56 of 83 DRAFT 12-06-2011 Urban Renewal law requires that this Report address the “. . . estimated project and activity costs and sources of moneys to pay such costs.16” 2.5.1 PROJECT COSTS Table 5.1 identifies the estimated cost of the urban renewal projects and activities, and their revenue sources. The total estimated cost of all projects and activities, including administration, is $67,295,785. The source of funding for these projects and activities will come from tax increment revenue ($43,177,530) and other sources such as system development fees, grants, and developer participation ($24,118,255). The administration costs for materials and administrative services have been estimated at approximately 6% of total project cost. Over the duration of the Urban Renewal Plan (25 years) it is estimated that $2,431,278 will be needed for materials and administrative services. Administrative services include such services as legal, accounting and annual audits, general administration, bond counsel, general consulting services, etc. These costs are stated in 2011 dollars and are based on prior engineered studies prepared by the City. Included in the cost of each project are design services, legal services related to the project, construction costs, and construction management. 16 ORS 457.085(3)(d) Table 5.1 URBAN RENEWAL PROJECTS AND COST ESTIMATES, 2011-37 Project No. Project Description Estimated Total Project Cost Agency Funding Other Funding 1 Downtown Core Area Streetscape Improvements $7,197,511 $5,792,291 $1,405,220 2 East Pine Street Improvements $5,564,984 $3,617,240 $1,947,744 3 Neighborhood Sidewalks, Street Lighting, and Alleys $2,121,071 $1,484,750 $636,321 4 Hwy. 99 Corridor Improvements $1,939,104 $1,163,462 $775,642 5 Intersection Signalization $5,104,818 $3,573,373 $1,531,445 6 Off-Street Parking $555,617 $277,809 $277,809 7 Underground Existing Pole Mounted Utility Systems $4,000,000 $3,400,000 $600,000 8 Gebard Road Extension $2,500,000 $1,500,000 $1,000,000 9 Pfaff Park Renovation $206,464 $144,525 $61,939 10 Freeman Road Upgrade to Collector Street Standards $1,474,271 $737,136 $737,136 11 Peninger Road Southerly Extension $16,046,726 $9,628,036 $6,418,690 12 Miscellaneous Public Works $2,234,648 $1,340,789 $893,859 13 City of Central Point Community Enter $4,305,303 $1,076,326 $3,338,977 14 Economic Development Incentive Program $6,000,000 $6,000,000 $0.00 15 Fire Safety $5,613,990 $1,010,518 $4,603,472 TOTAL PROJECT COSTS $64,864,507 $40,746,252 $20,795,988 OPERATING COSTS (6% of Total Project Cost) $2,431,278 $2,431,278 - TOTAL PROGRAM COSTS $67,295,785 $43,177,530 $24,118,255 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 57 of 83 DRAFT 12-06-2011 2.5.2 MAXIMUM INDEBTEDNESS In accordance with ORS 457.190 the Urban Renewal Plan has set a Maximum Indebtedness of $43,177,530. Each year the Agency will adjust the Maximum Indebtedness per ORS 457.190(4)(d). The adjustment will be based on the Engineering News Record Construction Cost Index as presented in Section 2.5.4, Index to Adjust Project and Activity Dollar Values, of this Report. Table 5.2 MAXIMUM INDEBTEDNESS Projects and Activities $40,746,252 Administrative Costs $ 2,431,278 Maximum Indebtedness $43,177,530 2.5.3 PROJECT COMPLETION DATES The completion of each project will be a function of the availability of tax increment revenue and other revenue sources. Based on the availability of tax increment revenue (see Section 2.7, Financial Analysis, for discussion, Table 7.1) it is estimated that there will be sufficient revenue to complete all projects and activities no later than June 30, 2037. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 58 of 83 DRAFT 12-06-2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Table 5.4 HISTORIC COMBINED TAX RATES BY TAXING AUTHORITY, 1997-2012 Fiscal Year City of Central Point Jackson County Fire District No. 3 Rogue Valley Transit District Vector Control Soil Conservation Total Non- Schools School District No. 6 Education Service District Rogue Community College Total Schools TOTAL Non- School and School 1997-98 $5.83 $1.97 $2.07 $0.17 $0.04 - $10.08 $5.13 $0.35 $0.50 $5.98 $16.06 1998-99 $5.83 $1.97 $2.07 $0.17 $0.04 - $10.08 $5.13 $0.35 $0.50 $6.08 $16.16 1999-00 $5.83 $2.01 $2.02 $0.18 $0.04 - $10.08 $5.24 $0.35 $0.51 $6.10 $16.18 2000-01 $5.83 $2.28 $1.96 $0.18 $0.04 - $10.29 $5.18 $0.35 $0.51 $6.04 $16.34 2001-02 $4.47 $2.39 $2.69 $0.18 $0.04 - $9.77 $4.41 $0.35 $0.51 $5.28 $15.05 2002-03 $4.47 $2.38 $2.99 $0.18 $0.04 - $10.06 $5.91 $0.35 $0.51 $6.78 $16.84 2003-04 $4.47 $2.50 $3.12 $0.18 $0.04 - $10.31 $6.05 $0.35 $0.51 $6.91 $17.23 2004-05 $4.47 $2.47 $3.12 $0.18 $0.04 - $10.28 $5.81 $0.35 $0.51 $6.68 $16.96 2005-06 $4.47 $2.27 $3.12 $0.18 $0.04 - $10.08 $5.74 $0.35 $0.51 $6.61 $16.69 2006-07 $4.47 $2.24 $3.12 $0.18 $0.04 - $10.05 $5.76 $0.35 $0.51 $6.62 $16.67 2007-08 $4.47 $2.25 $3.12 $0.18 $0.04 $0.05 $10.11 $5.72 $0.35 $0.51 $6.59 $16.70 2008-09 $4.47 $2.34 $3.12 $0.18 $0.04 $0.05 $10.20 $5.73 $0.35 $0.51 $6.59 $16.79 2009-10 $4.47 $2.37 $3.12 $0.18 $0.04 $0.05 $10.23 $5.57 $0.35 $0.51 $6.43 $16.66 2010-11 $4.47 $2.33 $3.12 $0.18 $0.04 $0.05 $10.19 $5.60 $0.35 $0.51 $6.46 $16.65 2011-12 $4.47 $2/26 $3.12 $0.17 $0.04 $0.05 $9.93 $5.67 $0.35 $0.62 $6.65 $16.58 AVERAGE $4.83 $2.26 $2.79 $0.18 $0.04 $0.05 $10.12 $5.52 $0.35 $0.52 $6.39 $16.50 Source: Jackson County Assessors Office City of Central Point Downtown & East Pine Street Corridor Revitalization Program 2.5.4 INDEX TO ADJUST PROJECT AND ACTIVITY DOLLAR VALUES The project and activities costs presented in the Urban Renewal Program are stated in terms of June 2011 dollar values. It is expected that the cost of implementing the Urban Renewal Plan over time will either increase, or decrease throughout the duration of this Plan as a function of changes in the cost of construction. To account for increased costs this section will provides a methodology for adjusting the Plan’s implementation costs. Further, it is the intent of this section to establish a methodology that complies with ORS 457.190(4)(d). The ENR index for Construction is published weekly by: Engineering News Record McGraw-Hill, Publisher 1221 Avenue of the Americas New York, New York 10020 Phone: (212) 512-2000 No later than July 30th of each year the Agency shall calculate the outstanding cost of each project and increase, or decrease, all outstanding costs based on the following methodology: The Engineering News Record (ENR) for Construction Costs Seattle (Northwest) will be used to adjust the June 2011 dollar figure to establish project and activities dollar values for subsequent years. The ENR Construction Index for June 1, 2011 was 9104. Annually, for the month of June of subsequent years, the outstanding construction cost estimates for each project shall be adjusted by using the ENR Index for Construction reported for June of each subsequent year. The Agency shall modify, by resolution, Table 8.1 for each affected project. An example of how the indexing process is herein intended to function, using March 2010 and June 2011 figures, is as follows: Under this example, there is an increase in construction costs of 3.4% between June 2010 and June 2011. In 2010 for each $1,000 in project cost the adjusted 2011 value would increase to $1,033.96. SECTION 2.6 ESTIMATED TAX INCREMENT REVENUE AND DEBT RETIREMENT Urban Renewal Law requires that this Report provide an estimate of the “. . . amount of money required in each urban renewal area under ORS 457.420 to 457.460 and the anticipated year in which indebtedness will be retired or otherwise provided for under ORS 457.420 to 457.460.17” The tax increment revenue to the Agency was estimated based on the following inputs: 1. Ballot Measure 5 Growth Rate. It is estimated that over the duration of the Urban Renewal Plan that the average Ballot Measure 5 growth rate will be 2.5% vs. the maximum allowed 3%. Currently, the average annual growth of assessed value within the Urban Renewal Area is less than 1.6%. 17 ORS 457.095(3)(f) Index Point Change June 2011 Index = 9104 June 2010 Index = 8805 Change in Index = 299 Percentage Change in Index Change in Index = 299 June 2010 Index / 8805 Percentage Change in Index = 3.4% City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 61 of 83 DRAFT 12-06-2011 2. Population Growth. As a result of the revitalization strategies of the Urban Renewal Plan it is estimated that throughout the duration of the Urban Renewal Plan 8% of all new residential development in the City will occur within the Urban Renewal Area, and that 50% of all commercial development will occur within the Urban Renewal Area. Both the number of housing units and commercial square footage were based on population growth as projected in the Comprehensive Plan’s Population Element. 3. Consolidated Tax Rate. Table 5.4 contains a history of the tax rates for each affected taxing district from 1997-98 to 2011-12. Although the historical average is $16.50/$1,000, projections for future tax increment revenue are based on a more conservation $15.15/$1,000 of assessed value. The $15.15 consolidated rate was derived from the base rate of each affected taxing district. 4. Urban Renewal Plan Duration. The Urban Renewal Plan is expected to have a 25 year duration beginning in fiscal year 2011-12 and ending on June 30, 2037. All projects and activities will be completed and all Agency indebtedness retired no later than June 30, 2037. Table 6.1 identifies the estimated annual and cumulative amounts of tax increment revenue ($51,970,747) that will be available to the Urban Renewal Agency throughout the duration of the Plan. Tax increment proceeds are expected to be distributed to the Urban Renewal Agency beginning in FY 2012-13 and be terminated at the end of FY 2036-37. The Urban Renewal Agency’s authorized maximum indebtedness to implement the provisions of the Urban Renewal Plan is $43,177,530. Funds available to the Urban Renewal Agency are estimated to be: Tax Increment Revenue $51,970,747 Interest on Funds $ 198,429 Other Income (Loans/Grants/Other) $21,278,639 TOTAL FUNDS AVAILABLE: $ 81,965,648 These funds will be used to leverage the maximum indebtedness of $43,177,530 to complete all projects and activities by the Fiscal Year 2036-37. After Fiscal Year 2036-37 should there be a surplus of tax increment proceeds, ORS 457.450(3) requires that surplus funds, if any, will be turned over to the County for distribution, prorated, to the affected taxing districts. The generation of $50,567,108 in tax increment revenue will require, based on the projected combined tax rate, an increase in the assessed value of the Urban Renewal Area from a Base Year (FY 2011-12) AV of $131,424,528 to an AV of $435,123,339 for an increase of $303,698,811. If the improvements proposed in the Urban Renewal Plan were not implemented, most of this increase would not be possible. All projects and activities will be completed and all incurred debt repaid no later than Fiscal Year 2036- 37 at which time tax increment collections will be reduced to a level sufficient to pay only outstanding debt service obligations. When the tax increment process is terminated at the end of fiscal year 2036- 37, the balance of the increase in AV will be available to each of the affected taxing districts. During the estimated 25-year period in which the tax increment process will be in place, the affected taxing districts will continue to receive property taxes from the estimated Base Year assessed value of $131,424,528. City of Central Point Downtown & East Pine Street Corridor Revitalization Program Table 6.1 PROJECTED URBAN RENEWAL AREA ASSESSED VALE AND TAX INCREMENT REVENUE Fiscal Year Assessed Value Base Value Incremental Value Combined Tax Rate Annual Tax Increment Revenue 2011-12 $131,424,528 $131,424,528 - $15.15 - 2012-13 $134,710,141 $131,424,528 $3,285,613 $15.15 $49,744 2013-14 $142,713,477 $131,424,528 $11,288,949 $15.15 $170,915 2014-15 $153,289,282 $131,424,528 $21,864,754 $15.15 $331,032 2015-16 $162,034,979 $131,424,528 $30,610,451 $15.15 $463,442 2016-17 $170,847,746 $131,424,528 $39,423,218 $15.15 $596,868 2017-18 $182,295,549 $131,424,528 $50,871,021 $15.15 $770,187 2018-19 $191,779,034 $131,424,528 $60,354,506 $15.15 $913,767 2019-20 $203,993,711 $131,424,528 $72,569,183 $15.15 $1,098,697 2020-21 $216,663,658 $131,424,528 $85,239,130 $15.15 $1,290,520 2021-22 $226,958,822 $131,424,528 $95,531,294 $15.15 $1,446,344 2022-23 $237,581,075 $131,424,528 $106,156,547 $15.15 $1,607,210 2023-24 $248,547,746 $131,424,528 $117,123,218 $15.15 $1,773,246 2024-25 $259,877,001 $131,424,528 $128,452,473 $15.15 $1,944,770 2025-26 $271,565,273 $131,424,528 $140,410,745 $15.15 $2,121,731 2026-27 $283,305,763 $131,424,528 $151,881,235 $15.15 $2,299,482 2027-28 $296,564,973 $131,424,528 $165,140,445 $15.15 $2,500,226 2028-29 $310,256,712 $131,424,528 $178,832,184 $15.15 $2,707,519 2029-30 $324,404,424 $131,424,528 $192,979,896 $15.15 $2,921,716 2030-31 $338,994,245 $131,424,528 $207,569,717 $15.15 $3,142,606 2031-32 $353,809,871 $131,424,528 $222,385,343 $15.15 $3,366,914 2032-33 $369,096,935 $131,424,528 $237,672,407 $15.15 $3,598,360 2033-34 $384,867,225 $131,424,528 $253,442,697 $15.15 $3,837,122 2034-35 $401,120,188 $131,424,528 $269,695,660 $15.15 $4,083,192 2035-36 $417,893,155 $131,424,528 $286,468,627 $15.15 $4,337,135 2036-37 $435,123,339 $131,424,528 $303,698,811 $15.15 $4,598,000 TOTAL TAX INCREMENT REVENUE $51,970,747 Source: City of Central Point Community Development Department City of Central Point Downtown & East Pine Street Corridor Revitalization Program SECTION 2.7 FINANCIAL ANALYSI S Urban Renewal Law requires that this Report include a “. . . financial analysis of the plan with sufficient information to determine feasibility.18” The Urban Renewal Plan’s financial feasibility is demonstrated in Table 7.1 where annual sources of revenue and expenses are identified, including financing opportunities and debt service costs. The primary revenue source for urban renewal is tax increment revenue, and the ability of tax increment revenue to support and leverage debt. Previously, in Section 2.6, Estimated Tax Increment Revenue and Debt Retirement, the estimated increase in assessed value and annual tax increment revenue resulting from implementation of the Urban Renewal Plan was identified, while in Section 2.5, Project Costs, Funding, Completion, and Maximum Indebtedness, total Urban Renewal Program costs were identified. With no urban renewal program to correct the problems discussed in this report, the cost to provide services within the Urban Renewal Area can most definitely be expected to rise in relationship to property values - particularly in the Downtown Core Area and the Northside Neighborhood, and the South Side Neighborhood. As with other cities which have implemented and completed urban renewal programs, the program does stimulate new development and renovation of existing property. In the process it creates significant amounts of new taxable assessed value. Most of this new assessed value would not exist if not for the Urban Renewal Program. SECTION 2.8 A FISCAL IMPACT STATEMENT As required by Urban Renewal law this section addresses the need for a “. . . fiscal impact statement that estimates the impact of the tax increment financing, both until and after the indebtedness is repaid, upon all entities levying taxes upon property in the urban renewal area.19” The Urban Renewal Plan’s fiscal impact is based on the loss and/or gain of tax revenue that each affected taxing district will experience throughout the duration (indebtedness period) of the Plan, and immediately after closure of the Urban Renewal Plan (post indebtedness). Applying this average growth rate to each of the taxing districts throughout the duration of the Urban Renewal Plan yields a consolidated loss (all affected taxing districts) in tax revenue of $11,802,104. The fiscal impact to each taxing district is identified in Table 8.2. Also shown in Table 8.2 is the percentage of the Urban Renewal Area’s assessed value to that of the affected taxing district. 2.8.1 FISCAL IMPACT FY 2011-37 During the Plan’s duration it is expected that the affected taxing districts will be fiscally impacted as a result of the Urban Renewal Plan. The Urban Renewal Plan will not affect current or future tax rates, but will negatively affect growth in the assessed value available to the taxing districts. The loss in assessed value was calculated based on the loss of tax revenue from the incremental assessed value increases between FY 2011-12 and FY 2036-37, which was based on 18 ORS 457.095(3)(g) 19 ORS 457.095(3)(h) Table 8.1 HISTORIC ASSESSED VALUE GROW IN URBAN RENEWAL AREA, 2007-2012 Fiscal Year Assessed Value % Change from Prior Year 2006-07 $121,560,032 - 2007-08 $127,684,191 5.04% 2008-09 $130,825,533 2.46% 2009-10 $131,489,250 0.51% 2010-11 $133,371,628 1.43% 2011-12 $131,424,528 -1.46% ANNUAL AVERAGE 1.60% Source: City of Central Point Community Development Department and Jackson County Assessor’s Office City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 64 of 83 DRAFT 12-06-2011 the average annual growth rate (1.6%) in assessed value for the Urban Renewal Area since FY 2006-07 (see Table 8.1)20. Source: City of Central Point Community Development Department, Jackson County Assessor’s Office 2.8.2 POST INDEBTEDNESS FI SCAL IMPACT Beginning in FY2037-38 the affected taxing districts will realize increases in tax revenue as they recapture the Urban Renewal District’s Incremental Value, which as a result of the Urban Renewal Program will have increased to $303,698,811. Beginning in fiscal year 2037-38 an estimated $321,473,429 in incremental assessed value will be released, resulting in the distribution of an estimated $4,446,230 in tax revenue. The distribution of the recaptured property tax revenue to each of the affected taxing districts is shown in Table 8.3. As illustrated in Table 8.3 it is projected that by fiscal year 2039-40 (breakeven point) all affected taxing districts will have recovered their fiscal impact as identified in Table 8.2. The net fiscal impact of the Urban Renewal Plan results in the positive long-term fiscal strengthening of not only of the Urban Renewal Area, but also of each affected taxing district. The fiscal benefits illustrated in Table 8.3 would not be possible without the public and private investment in the Urban Renewal Area resulting from Implementation of this Plan. Although not calculated in the above fiscal impact analysis it is worth noting that the Urban renewal Program will also have a positive “spin-off” on the assessed value of areas adjacent to the Urban Renewal Area. As an example, the construction of the Hwy. 99 railroad crossing and intersection (Project No. 5a) will facilitate the continued development of the Twin Creeks TOD, most of which is outside of the Urban Renewal Area. Similarly the improvements to East Pine Street east of I-5 (Projects 2 and 11) will facilitate the continued commercial development of property adjacent to and east of the Urban Renewal Area. 20 Annual assessment information for the Urban Renewal Area only available since FY 2006-07. Table 8.2 URBAN RENEWAL FISCAL IMPACT ON AFFECTED TAXING DISTRICTS Taxing District 2011-12 Tax District Assessed Value 2011-12 URA Assessed Value % of District Assessed Value in URA 25 Year District Tax Revenue Loss City of Central Point $1,036,034,076 $131,424,528 12.7% $3,435,140 Jackson County $16,449,455,277 $131,424,528 0.8% $1,544,660 Fire District No. 3 $3,654,905,277 $131,424,528 3.6% $2,397,681 Rogue Valley Transit District $12,520,903,116 $131,424,528 1.0% $138,328 Vector Control $16,449,455,277 $131,424,528 0.8% $30,740 Water Conservation $16,449,455,277 $131,424,528 0.80% $38,424 School District No. 6 $2,215,710,700 $131,424,528 5.9% $3,389,030 Rogue Community College $16,449,455,277 $131,424,528 0.8% $391,929 Education Service District $16,449,455,277 $131,424,528 0.8% $268,971 TOTAL FISCAL IMPACT TO ALL TAXING DISTRICTS $11,634,902 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Table 7.1 CITY OF CENTRAL POINT URBAN RENEWAL PROGRAM ESTIMATED SOURCES OF URBAN RENEWAL AGENCY'S FUNDS AND ANNUAL DISPOSITION OF SUCH FUNDS, FISCAL YEARS 2013-2037 (Measured in Current Dollars, 2011) 1 Fiscal Year Tax Increment Year Annual TI Proceeds Debt Service Ratio (DSR)Loans1,6 Interest on Contingency Balance2 Other Income7 Total Funds Available3 Projects and Activities Personnel Services Materials and Services Annual Debt Service Debt Service Reserve (10%)4 Total Costs Contingency Balance Forward5 2011-12 2012-13 1 49,744$ - 125,000$ -$ -$ 174,744$ 115,000$ $ 4,600 $ 2,300 $ 40,362 $ - 162,262$ $ 12,483 2013-14 2 170,915$ - -$ 250$ -$ 183,647$ 125,000$ $ 5,000 $ 2,500 $ 40,362 $ - 172,862$ $ 10,786 2014-15 3 331,032$ - -$ 216$ -$ 342,034$ 260,000$ $ 10,400 $ 5,200 $ 40,362 $ - 315,962$ $ 26,072 2015-16 4 463,442$ - -$ 521$ -$ 490,036$ 390,000$ $ 15,600 $ 7,800 $ 40,362 $ - 453,762$ $ 36,274 2016-17 5 596,868$ 1.30 5,000,000$ 725$ -$ 5,633,867$ 3,000,000$ $ 120,000 $ 60,000 $ 458,758 $ 500,000 4,138,758$ $ 1,495,109 2017-18 6 770,187$ 1.84 -$ 39,902$ -$ 2,305,199$ 1,625,000$ $ 65,000 $ 32,500 $ 418,397 $ - 2,140,897$ $ 164,302 2018-19 7 913,767$ 2.18 -$ 3,286$ -$ 1,081,355$ 575,000$ $ 23,000 $ 11,500 $ 418,397 $ - 1,027,897$ $ 53,459 2019-20 8 1,098,697$ 2.63 -$ 1,069$ -$ 1,153,225$ 635,000$ $ 25,400 $ 12,700 $ 418,397 $ - 1,091,497$ $ 61,728 2020-21 9 1,290,520$ 1.30 6,500,000$ 1,235$ -$ 7,853,483$ 4,250,000$ $ 170,000 $ 85,000 $ 996,376 $ 650,000 6,151,376$ $ 1,702,107 2021-22 10 1,446,344$ 1.45 -$ 47,042$ -$ 3,195,493$ 1,900,000$ $ 76,000 $ 38,000 $ 996,376 $ - 3,010,376$ $ 185,117 2022-23 11 1,607,210$ 1.61 -$ 3,702$ -$ 1,796,030$ 690,000$ $ 27,600 $ 13,800 $ 996,376 $ - 1,727,776$ $ 68,254 2023-24 12 1,773,246$ 1.27 4,000,000$ 1,365$ -$ 5,842,864$ 3,000,000$ $ 120,000 $ 60,000 $ 1,394,878 $ 400,000 4,974,878$ $ 867,986 2024-25 13 1,944,770$ 1.39 -$ 25,360$ -$ 2,838,116$ 1,255,000$ $ 50,200 $ 25,100 $ 1,394,878 $ - 2,725,178$ $ 112,937 2025-26 14 2,121,731$ 1.52 -$ 2,259$ -$ 2,236,927$ 725,000$ $ 29,000 $ 14,500 $ 1,394,878 $ - 2,163,378$ $ 73,548 2026-27 15 2,299,482$ 1.65 -$ 1,471$ -$ 2,374,501$ 845,000$ $ 33,800 $ 16,900 $ 1,394,878 $ - 2,290,578$ $ 83,923 2027-28 16 2,500,226$ 1.29 4,250,000$ 1,678$ -$ 6,835,828$ 2,600,000$ $ 104,000 $ 52,000 $ 1,945,273 $ 425,000 5,126,273$ $ 1,709,555 2028-29 17 2,707,519$ 1.39 -$ 42,691$ -$ 4,459,765$ 2,175,000$ $ 87,000 $ 43,500 $ 1,945,273 $ - 4,250,773$ $ 208,992 2029-30 18 2,921,716$ 1.50 -$ 4,180$ -$ 3,134,888$ 1,025,000$ $ 41,000 $ 20,500 $ 1,945,273 $ - 3,031,773$ $ 103,115 2030-31 19 3,142,606$ 1.62 -$ 2,062$ -$ 3,247,782$ 1,125,000$ $ 45,000 $ 22,500 $ 1,945,273 $ - 3,137,773$ $ 110,010 2031-32 20 3,366,914$ 1.73 -$ 2,200$ -$ 3,479,124$ 1,325,000$ $ 53,000 $ 26,500 $ 1,945,273 $ - 3,349,773$ $ 129,351 2032-33 21 3,598,360$ 1.85 -$ 2,587$ -$ 3,730,298$ 1,540,000$ $ 61,600 $ 30,800 $ 1,945,273 $ - 3,577,673$ $ 152,625 2033-34 22 3,837,122$ 1.97 -$ 3,053$ -$ 3,992,800$ 1,750,000$ $ 70,000 $ 35,000 $ 1,945,273 $ - 3,800,273$ $ 192,527 2034-35 23 4,083,192$ 2.10 -$ 3,851$ -$ 4,279,570$ 2,025,000$ $ 81,000 $ 40,500 $ 1,945,273 $ - 4,091,773$ $ 187,797 2035-36 24 4,337,135$ 2.23 -$ 3,756$ -$ 4,528,688$ 2,250,000$ $ 90,000 $ 45,000 $ 1,945,273 $ - 4,330,273$ $ 198,415 2036-37 25 3,194,361$ 2.15 -$ 3,968$ 1,975,000$ 5,371,744$ 5,525,000$ $ 224,730 $ 110,500 $ 1,486,515 $ (1,975,000)5,371,745$ $ (0) Totals 50,567,108$ 19,875,000$ 198,429$ 1,975,000$ 80,562,009$ 40,730,000$ 1,632,930$ 814,600$ 29,438,008$ -$ 72,615,538$ 7,946,471$ TOTAL FUNDS AVAILABLE 80,562,009$ TOTAL DISPOSITION OF FUNDS 80,562,009 Notes: 1 Loan interest rate calculated at 5.5%. Timing based on attaining a debt service ratio of 1.3 or better. 2 Calculated at 2% of prior year Contingency Balance Forward. 3 Includes Contingency Balance Forward from prior year. In final year includes Debt Service Reserves Totals. 4 Based on 10% of loan amount, carried through life of loan and used for final loan payment. 5 Averages approximately 15% of Total Costs. 6 Based on required debt service ratio of 1.3 or greater. AVAILABILITY OF FUNDS DISPOSITION OF FUNDS BASE YEAR City of Central Point Downtown & East Pine Street Corridor Revitalization Program Table 8.3 POST INDEBTEDNESS FISCAL IMPACT AND BREAKEVEN POINT Taxing District Total Fiscal Impact FY2037-38 Revenue Gain on Incremental Value Breakeven Point in Years City of Central Point $3,435,140 $1,146,659 3.0 Jackson County $1,544,660 $515,612 3.0 Fire District No. 3 $2,397,681 $1,022,997 2.4 Rogue Valley Transit District $138,328 $57,865 2.4 Vector Control $30,740 $12,859 2.4 Water Conservation $38,424 $16,074 2.4 School District No. 6 $3,389,030 $1,417,698 2.4 Rogue Community College $391,929 $163,951 2.4 Education Service District $268,971 $112,516 2.4 TOTAL $11,634,902 $5,458,338 2.62 Source: City of Central Point Community Development Department, Jackson County Assessor’s Office SECTION 2.9 RELOCATION REPORT Because of the ability of the Commission to acquire property Urban Renewal Law requires “. . . a relocation report which shall include: A. An analysis of existing residents or businesses required to relocate permanently or temporarily as a result of agency actions under ORS 457.170; B. A description of the methods to be used for the temporary or permanent relocation of persons living in, and businesses situated in, the urban renewal area in accordance with ORS 35.500 to 35.530; and C. An enumeration, by cost range, of the existing housing units in the urban renewal areas of the plan to be destroyed or altered and new units to be added.21” 2.9.1 PROPERTIES REQUIRING RELOCATION At this time the Commission does not expect to acquire occupied properties. However, should the Commission, in the implementation of the Urban Renewal Plan, determine that acquisition of occupied property is necessary; then the Commission shall comply with the relocation requirements of the Urban Renewal Plan, Section 1.6.5, Relocation Activities. 2.9.2 DESCRIPTION OF RELOCATION METHOD S ORS 457 requires that relocation assistance to occupied property be provided by the Urban Renewal Agency. Accordingly, subsection 1.6.5, Relocation Activities, of the Urban Renewal Plan requires the relocation provisions of ORS 281.045.106 be met and that relocation payments be made as provided by ORS 281.060. 21 ORS 457.095(3)(i) City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 67 of 83 DRAFT 12-06-2011 2.9.3 ENUMERATION OF HOUSING UNITS REQ UIRING RELOCATION At the time of adoption of this Plan no residential properties have been designated for acquisition. If at such time the Urban Renewal Plan is amended to acquire property requiring residential relocation, then the Commission shall amend this section to include an enumeration of the dwelling units to be demolished and replacement strategies. City of Central Point Downtown & East Pine Street Corridor Revitalization Program APPENDIX EXHIBIT 1. Narrative Description of Urban Renewal Area EXHIBIT 2. Graphic Description of Urban Renewal Area EXHIBIT 3. Urban Renewal Area Tax Lot Inventory, December 2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 69 of 83 DRAFT 12-06-2011 EXHIBIT 1 – Narrative Description of Urban Renewal Area City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 70 of 83 DRAFT 12-06-2011 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 71 of 83 DRAFT 12-06-2011 EXHIBIT 2 – Graphic Description of Urban Renewal Area City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 72 of 83 DRAFT 12-06-2011 EXHIBIT 3 – URBAN RENEWAL AREA TAX LOT INVENTORY, December 2011 No. Map Number Account Number No. Map Number Account Number 1 372W02D1000 10132000 45 372W02CB4000 10132839 2 372W02CA200 10132344 46 372W02CB4100 10132847 3 372W02CA300 10132351 47 372W02CB4200 10132853 4 372W02CA700 10132393 48 372W02CB4300 10132861 5 372W02CA800 10132407 49 372W02CB4400 10132870 6 372W02CB100 10132415 50 372W02CB4500 10132888 7 372W02CB300 10132440 51 372W02CB4600 10132896 8 372W02CB400 10132456 52 372W02CB4700 10132901 9 372W02CB500 10132464 53 372W02CB4800 10132910 10 372W02CB600 10132472 54 372W02CB4900 10132928 11 372W02CB700 10132481 55 372W02CB5000 10132936 12 372W02CB800 10132499 56 372W02CB5100 10132944 13 372W02CB900 10132504 57 372W02CB5200 10132951 14 372W02CB901 10132512 58 372W02CB5300 10132969 15 372W02CB1000 10132521 59 372W02CB5400 10132977 16 372W02CB1200 10132547 60 372W02CB5402 10132985 17 372W02CB1300 10132553 61 372W02CB5500 10132993 18 372W02CB1400 10132561 62 372W02CB5600 10133004 19 372W02CB1500 10132570 63 372W02CB5700 10133012 20 372W02CB1600 10132588 64 372W02CB5800 10133021 21 372W02CB1700 10132596 65 372W02CB5900 10133039 22 372W02CB1800 10132601 66 372W02CB6000 10133047 23 372W02CB1900 10132610 67 372W02CB6100 10133053 24 372W02CB2000 10132628 68 372W02CB6200 10133061 25 372W02CB2100 10132636 69 372W02CB6300 10133070 26 372W02CB2200 10132644 70 372W02CB6401 10133088 27 372W02CB2300 10132651 71 372W02CB6500 10133096 28 372W02CB2400 10132669 72 372W02CB6600 10133101 29 372W02CB2401 10132677 73 372W02CB6700 10133110 30 372W02CB2500 10132685 74 372W02CB6800 10133128 31 372W02CB2600 10132693 75 372W02CB6900 10133136 32 372W02CB2700 10132707 76 372W02CB7000 10133144 33 372W02CB2800 10132715 77 372W02CB7101 10133169 34 372W02CB2900 10132723 78 372W02CB7201 10133185 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 73 of 83 DRAFT 12-06-2011 35 372W02CB3000 10132731 79 372W02CB7301 10133209 36 372W02CB3100 10132740 80 372W02CB7600 10133233 37 372W02CB3200 10132756 81 372W02CB7700 10133241 38 372W02CB3300 10132764 82 372W02CB7800 10133258 39 372W02CB3400 10132772 83 372W02CB7900 10133266 40 372W02CB3500 10132781 84 372W02CB8000 10133274 41 372W02CB3600 10132799 85 372W02CB8200 10133291 42 372W02CB3700 10132804 86 372W02CC100 10133306 43 372W02CB3800 10132812 87 372W02CC101 10133314 44 372W02CB3900 10132821 88 372W02CC200 10133322 89 372W02CC201 10133331 135 372W02CC5100 10133825 90 372W02CC300 10133349 136 372W02CC5200 10133833 91 372W02CC400 10133355 137 372W02CC5400 10133841 92 372W02CC500 10133363 138 372W02CC5500 10133858 93 372W02CC600 10133371 139 372W02CC5600 10133866 94 372W02CC700 10133380 140 372W02CC5700 10133874 95 372W02CC800 10133398 141 372W02CC5800 10133882 96 372W02CC900 10133401 142 372W02CC6300 10133891 97 372W02CC1000 10133410 143 372W02CC6400 10133906 98 372W02CC1100 10133428 144 372W02CC6500 10133914 99 372W02CC1200 10133436 145 372W02CC6600 10133922 100 372W02CC1300 10133444 146 372W02CC6700 10133931 101 372W02CC1400 10133451 147 372W02CC6900 10133955 102 372W02CC1500 10133469 148 372W02CC7200 10133980 103 372W02CC1600 10133477 149 372W02CC7300 10133998 104 372W02CC1700 10133485 150 372W02CC7400 10134001 105 372W02CC1800 10133493 151 372W02CC7500 10134019 106 372W02CC1900 10133509 152 372W02CC7600 10134027 107 372W02CC2200 10133517 153 372W02CC7700 10134035 108 372W02CC2300 10133525 154 372W02CC7800 10134043 109 372W02CC2500 10133541 155 372W02CC7900 10134050 110 372W02CC2600 10133558 156 372W02CC8100 10134076 111 372W02CC2700 10133566 157 372W02CC8200 10134084 112 372W02CC2800 10133574 158 372W02CC8300 10134092 113 372W02CC2900 10133582 159 372W02CC8400 10134108 114 372W02CC3000 10133591 160 372W02CC8500 10134116 115 372W02CC3100 10133606 161 372W02CC8600 10134124 116 372W02CC3200 10133614 162 372W02CC8700 10134132 117 372W02CC3300 10133622 163 372W02CC8800 10134141 118 372W02CC3301 10133631 164 372W02CC8900 10134157 119 372W02CC3400 10133649 165 372W02CC9000 10134165 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 74 of 83 DRAFT 12-06-2011 120 372W02CC3500 10133655 166 372W02CC9100 10134173 121 372W02CC3600 10133663 167 372W02CC9200 10134181 122 372W02CC3700 10133671 168 372W02CC9300 10134190 123 372W02CC3800 10133680 169 372W02CC9400 10134205 124 372W02CC3900 10133698 170 372W02CC9500 10134213 125 372W02CC4000 10133701 171 372W02CC9600 10134221 126 372W02CC4001 10133710 172 372W02CC9700 10134230 127 372W02CC4100 10133728 173 372W02CC9701 10134248 128 372W02CC4300 10133744 174 372W02CC9800 10134254 129 372W02CC4400 10133751 175 372W02CC10000 10134262 130 372W02CC4500 10133769 176 372W02CC10100 10134271 131 372W02CC4600 10133777 177 372W02CC10200 10134289 132 372W02CC4700 10133785 178 372W02CC10300 10134297 133 372W02CC4900 10133809 179 372W02CC10400 10134302 134 372W02CC5000 10133817 180 372W02CC10500 10134311 181 372W02CC10600 10134329 227 372W02CD3700 10134790 182 372W02CC10700 10134337 228 372W02CD3800 10134805 183 372W02CC10701 10134345 229 372W02CD3900 10134813 184 372W02CC10801 10134351 230 372W02CD4000 10134821 185 372W02CC10900 10134360 231 372W02CD4100 10134830 186 372W02CC11000 10134378 232 372W02CD4200 10134848 187 372W02CC11100 10134386 233 372W02CD4300 10134854 188 372W02CC11300 10134394 234 372W02CD4400 10134862 189 372W02CC11400 10134408 235 372W02CD4500 10134871 190 372W02CC11500 10134416 236 372W02CD4600 10134889 191 372W02CC11600 10134424 237 372W02CD4700 10134897 192 372W02CC11700 10134432 238 372W02CD4800 10134902 193 372W02CD100 10134441 239 372W02CD4900 10134911 194 372W02CD200 10134457 240 372W02CD5000 10134929 195 372W02CD300 10134465 241 372W02CD5100 10134937 196 372W02CD400 10134473 242 372W02CD5200 10134945 197 372W02CD500 10134481 243 372W02CD5300 10134951 198 372W02CD600 10134490 244 372W02CD5400 10134960 199 372W02CD700 10134505 245 372W02CD5500 10134978 200 372W02CD800 10134513 246 372W02CD5600 10134986 201 372W02CD900 10134521 247 372W02CD5700 10134994 202 372W02CD1000 10134530 248 372W02CD5800 10135005 203 372W02CD1100 10134548 249 372W02CD5900 10135013 204 372W02CD1200 10134554 250 372W02CD6000 10135021 205 372W02CD1300 10134562 251 372W02CD6100 10135030 206 372W02CD1400 10134571 252 372W02CD6101 10135048 207 372W02CD1500 10134589 253 372W02CD6300 10135054 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 75 of 83 DRAFT 12-06-2011 208 372W02CD1600 10134597 254 372W02CD6400 10135062 209 372W02CD1700 10134602 255 372W02CD6500 10135071 210 372W02CD1800 10134611 256 372W02CD6600 10135089 211 372W02CD1900 10134629 257 372W02CD6700 10135097 212 372W02CD2000 10134637 258 372W02CD6800 10135102 213 372W02CD2100 10134645 259 372W02CD6900 10135111 214 372W02CD2200 10134651 260 372W02CD7000 10135129 215 372W02CD2300 10134660 261 372W02CD7100 10135137 216 372W02CD2400 10134678 262 372W02CD7200 10135145 217 372W02CD2500 10134686 263 372W02CD7201 10135151 218 372W02CD2600 10134694 264 372W02CD7300 10135160 219 372W02CD2900 10134716 265 372W02CD7301 10135178 220 372W02CD3000 10134724 266 372W02CD7400 10135186 221 372W02CD3100 10134732 267 372W02CD7500 10135194 222 372W02CD3200 10134741 268 372W02CD7600 10135200 223 372W02CD3300 10134757 269 372W02CD7700 10135218 224 372W02CD3400 10134765 270 372W02CD7800 10135226 225 372W02CD3500 10134773 271 372W02CD7900 10135234 226 372W02CD3600 10134781 272 372W02CD8000 10135242 273 372W02CD8100 10135259 319 372W03DA9300 10139368 274 372W03B1501 10138396 320 372W03DA9400 10139376 275 372W03DA5000 10138921 321 372W03DA9500 10139384 276 372W03DA5100 10138939 322 372W03DA9600 10139392 277 372W03DA5200 10138947 323 372W03DA9700 10139406 278 372W03DA5300 10138953 324 372W03DA9800 10139414 279 372W03DA5400 10138961 325 372W03DA9900 10139422 280 372W03DA5500 10138970 326 372W03DA10000 10139431 281 372W03DA5600 10138988 327 372W03DA10100 10139449 282 372W03DA5700 10138996 328 372W03DA10200 10139455 283 372W03DA5800 10139009 329 372W03DA10300 10139463 284 372W03DA5900 10139017 330 372W03DA10400 10139471 285 372W03DA6000 10139025 331 372W03DA10500 10139480 286 372W03DA6100 10139033 332 372W03DA10600 10139498 287 372W03DA6200 10139041 333 372W03DA10700 10139503 288 372W03DA6300 10139058 334 372W03DA10800 10139511 289 372W03DA6400 10139066 335 372W03DA10900 10139520 290 372W03DA6500 10139074 336 372W03DA10901 10139538 291 372W03DA6600 10139082 337 372W03DA10902 10139546 292 372W03DA6700 10139091 338 372W03DA10903 10139552 293 372W03DA6800 10139106 339 372W03DA11000 10139561 294 372W03DA6900 10139114 340 372W03DA11100 10139579 295 372W03DA7000 10139122 341 372W03DA11200 10139587 City of Central Point Downtown & East Pine Street Corridor Revitalization Program Page 76 of 83 DRAFT 12-06-2011 296 372W03DA7100 10139131 342 372W03DA11300 10139595 297 372W03DA7200 10139149 343 372W03DA11400 10139601 298 372W03DA7300 10139155 344 372W03DA11500 10139619 299 372W03DA7400 10139163 345 372W03DA11600 10139627 300 372W03DA7500 10139171 346 372W03DA11700 10139635 301 372W03DA7600 10139180 347 372W03DA11800 10139643 302 372W03DA7700 10139198 348 372W03DA11900 10139650 303 372W03DA7800 10139203 349 372W03DA12000 10139668 304 372W03DA7900 10139211 350 372W03DA12100 10139676 305 372W03DA8000 10139220 351 372W03DA12200 10139684 306 372W03DA8100 10139238 352 372W03DA12300 10139692 307 372W03DA8200 10139246 353 372W03DA12400 10139706 308 372W03DA8300 10139252 354 372W03DA12401 10139714 309 372W03DA8400 10139261 355 372W03DB300 10139731 310 372W03DA8500 10139279 356 372W03DB400 10139749 311 372W03DA8600 10139287 357 372W03DB500 10139755 312 372W03DA8700 10139295 358 372W03DB600 10139763 313 372W03DA8701 10139301 359 372W03DB700 10139771 314 372W03DA8800 10139319 360 372W03DB800 10139780 315 372W03DA8900 10139327 361 372W03DB801 10139798 316 372W03DA9000 10139335 362 372W03DC100 10139803 317 372W03DA9100 10139343 363 372W03DC200 10139811 318 372W03DA9200 10139350 364 372W03DC300 10139820 365 372W03DC400 10139846 411 372W03DD1500 10140329 366 372W03DC401 10139852 412 372W03DD1501 10140337 367 372W03DC402 10139861 413 372W03DD1502 10140345 368 372W03DC500 10139879 414 372W03DD1503 10140351 369 372W03DC600 10139895 415 372W03DD1600 10140360 370 372W03DC700 10139901 416 372W03DD1800 10140378 371 372W03DC900 10139919 417 372W03DD1801 10140386 372 372W03DC1000 10139927 418 372W03DD1900 10140394 373 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372W02D2002 10982850 939 372W03CA900 10985724 924 372W02D2003 10982852 940 372W03CA1600 10985725 925 372W02D2004 10982853 941 372W03CA1500 10985726 926 372W03DD2001 10983530 942 372W02CA101 10988049 927 372W03DD2002 10983531 943 372W11BA901 10988130 928 372W03DD2003 10983532 944 372W10AD101 10988131 929 372W03DA7501 10984657 945 372W10AA6401 10995696 930 372W03DD4001 10984704 946 372W10AA6402 10995697 931 372W02CB301 10985016 932 372W02CB302 10985017 Development Commission Resolution No. 2012 - 01 Pg. 1 RESOLUTION NO. 2012 – 01 of the CENTRAL POINT DEVELOPMENT COMMISSION FORWARDING TO THE CITY COUNCIL A RECOMMENDATION TO ADOPT THE DOWNTOWN AND EAST PINE STREET CORRIDOR REVITALIZATION PLAN, AN URBAN RENEWAL PLAN AND PROGRAM OF THE CITY OF CENTRAL POINT, OREGON RECITALS: A. The Central Point Development Commission, a duly appointed urban renewal agency (the “Agency”) has completed the Downtown and East Pine Street Corridor Revitalization Plan (the “Plan”), an urban renewal plan for the City of Central Point. B. The Plan and its accompanying Report have been prepared in conformity with the requirements of ORS 457.085 and with public involvement in all stages of the development of the Plan. C. The Plan and Report was distributed to the governing body of each taxing district affected by the Plan, with an invitation to meet and discuss the plan, or forward comments on the Plan, and all comments received by the Agency have been responded to and included in the Plan. D. On December 6, 2011, the Planning Commission after review and discussion adopted Resolution No. 784 recommending to the City Council approval of the Plan. E. The Agency finds that the Plan is complete and should be adopted and approved based on the following findings: i) The urban renewal area described in the Downtown and East Pine Street Corridor Revitalization Plan is blighted. ii) Rehabilitation and redevelopment is necessary to protect the public health, safety, or welfare of the City of Central Point. iii) The Downtown and East Pine Street Corridor Revitalization Plan conforms to the City’s Comprehensive Plan. iv) The Downtown and East Pine Street Corridor Revitalization Plan as proposed does not require the acquisition of real property, or the displacement of persons. ATTACHMENT C Development Commission Resolution No. 2012 - 01 Pg. 2 v) The adoption and carrying out of the Downtown and East Pine Street Corridor Revitalization Plan is economically sound and feasible. vi) The Agency hereby incorporates by reference the Downtown and East Pine Street Corridor Revitalization Plan, attached to this Resolution as Exhibit “A”, as support for the above stated findings. vii) The Agency further relies on Planning Commission Resolution No. 784, the public hearing and the entire record before the Agency in this matter, which is incorporated by reference. THE CENTRALPOINT DEVELOPMENT COMMISSION RESOLVES: that the Downtown and East Pine Street Corridor Revitalization Plan and Report, attached to this Resolution as Exhibit “A” and included herein pursuant to the provisions of ORS 457, meets all requirements of ORS 457 and by this Resolution forwards a favorable recommendation to the City Council to adopt the Downtown and East Pine Street Corridor Revitalization Plan and Report. Passed by the Agency and signed by me in authentication of its passage this _____ day of January, 2012. __________________________ Chair, Mayor Hank Williams ATTEST: _____________________________ City Recorder