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HomeMy WebLinkAbout2598 Effective Date: August 23, 2012 ORDINANCE 2598 AN ORDINANCE OF THE LAKE OSWEGO CITY COUNCIL MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATING TO AND APPROVING THE LAKE GROVE VILLAGE CENTER URBAN RENEWAL PLAN WHEREAS, the City Council of the City of Lake Oswego("Council") has declared that blighted areas exist in the City of Lake Oswego and has elected to have the powers of an urban renewal agency exercised by the Council itself, as authorized by ORS 457.045(3); and WHEREAS, Council has declared that the name of the urban renewal agency shall be the Lake Oswego Redevelopment Agency ("LORA"); and WHEREAS, LORA as the duly authorized and acting urban renewal agency of the City of Lake Oswego, Oregon ("City"), is proposing to undertake certain urban renewal activities in a designated area within the City pursuant to ORS Chapter 457; and WHEREAS, LORA, pursuant to the requirements of ORS Chapter 457, has caused the preparation of an urban renewal plan which is attached to this Ordinance as Exhibit A, and incorporated herein by this reference ("Plan" or "Lake Grove Village Center Urban Renewal Plan"). The Plan authorizes urban renewal activities within the Lake Grove Village Center Urban Renewal Area (the "Area"); and WHEREAS, LORA has caused the preparation of a Report accompanying the Plan as required by ORS 457.085(3) ("Report"), which Report is dated July 17, 2012 and is attached to this Ordinance as Exhibit B and incorporated herein by this reference; and WHEREAS, the Plan and the Report were forwarded to the City of Lake Oswego Planning Commission for recommendation, and the Planning Commission considered the Plan and Report on June 25, 2012 and voted that the Plan conformed with the Lake Oswego Comprehensive Plan and made a recommendation; and WHEREAS, on June 4, 2012, the City met with representatives of the Lake Oswego School District to review the Plan, including the proposed indebtedness for the Plan; and WHEREAS, on June 26, 2012 the City met with representatives of Clackamas County to review the Plan, including proposed maximum indebtedness for the Plan; and WHEREAS, the Plan and the Report were forwarded on June 20, 2012 to the governing body of each taxing district affected by the Plan, and LORA has thereafter consulted and conferred with said districts; and WHEREAS,the City Council has received written recommendations from one affected taxing district, and has considered and modified those recommendations; and Ordinance No. 2598 Page 1of6 WHEREAS, on July 1, 2012 the City caused notice of the hearing to be held before the City Council on the Lake Grove Village Center Urban Renewal Plan, including the required statements of ORS 457.120(3), to be mailed to postal patrons within the City of Lake Oswego; and WHEREAS, on July 17, 2012 the City Council held a public hearing to review and consider the Plan, the Report,the recommendation of the Planning Commission, and the public testimony received on that date, and does by this Ordinance desire to approve the Plan; NOW THEREFORE, the City of Lake Oswego ordains as follows: Section 1. Having considered the Planning Commission recommendation, and the public testimony before the City Council,the City Council hereby determines and finds that the Plan complies with all requirements of ORS Chapter 457 and the specific criteria of ORS 457.095(1) through (7), in that, based on the information presented, including the information in the Report: 1. The area designated in the Plan as the Urban Renewal Area is blighted, as defined by ORS 457.010(1)(e) and (g) and is eligible for inclusion within the Plan because of conditions described in Section II of the Report, including the need for improvements to Boones Ferry Road, the need for additional parking in the Area, and the underdevelopment of property in the Area. 2. The rehabilitation and redevelopment described in the Plan to be undertaken by the Agency is necessary to protect the public health, safety and welfare of the City because, absent the completion of the urban renewal projects,the Area will fail to develop and/or redevelop with proper uses according to the goals of the City's Comprehensive Plan. 3. The Plan conforms to the Lake Oswego Comprehensive Plan as a whole, and provides an outline for accomplishing the projects described in the Plan, as more fully described in the Plan and consistent with the Planning Commission's recommendation. 4. The Plan conforms to the Lake Oswego Economic Development Plan as a whole as described in the Plan. 5. Provision has been made to house any displaced persons in that the Plan does not include property acquisition that requires relocation of any persons. However, if relocation should be required, relocation will be completed in accordance with Section XI of the Report as required under applicable state and federal law and, except in the relocation of elderly individuals or individuals with disabilities, without displacing on priority lists persons already waiting for Ordinance No. 2598 Page 2 of 6 existing federally subsidized housing." 6. The acquisition of real property provided for in the Plan is necessary for the development of infrastructure improvements, including parking improvements, in the Area, because the Agency does not own all the real property interests (rights of way, easements, fee ownership)that will be required to undertake and complete these projects. 7. Adoption and carrying out the Plan is economically sound and feasible in that funds are available to complete the Plan projects using urban renewal tax increment revenues derived from a division of taxes pursuant to section 1c, Article IX of the Oregon Constitution and ORS 457.440, and other available funding as shown in Sections V,VI, VII, VIII and IX of the Report; and 8. The City shall assume and complete any activities prescribed it by the Plan. 9. The City Council expressly modifies the Plan and Report based upon the written recommendations of the Lake Oswego School District as follows: a. Revise Section V (A) of the Plan as follows:The Agency may acquire any property within the Area for the public improvement projects undertaken pursuant to the Plan by all legal means, including use of eminent domain in compliance with State Law, except that the Agency may not use eminent domain to acquire any property owned by the Lake Oswego School District. b. Add to Section VIII (A) of the Plan: A Substantial Amendment to increase the maximum amount of indebtedness that can be issued or incurred under the Plan for any amount requires the written concurrence of the number of taxing districts as prescribed in ORS 457.470(7). c. Revise Section IX of the Report as attached in Exhibit C. Section 2. The Lake Grove Village Center Urban Renewal Plan, as modified herein, is hereby approved, based upon review and consideration by the City Council of the Plan, the Report, the recommendations of the Planning Commission, and the public testimony in the record. Section 3. The City Recorder shall forward forthwith to the Agency a copy of this Ordinance. Section 4. LORA shall thereafter cause a copy of the Plan to be recorded in the Records of Clackamas County, Oregon. Ordinance No. 2598 Page 3 of 6 Section 5. The City Recorder, in accordance with ORS 457.115, shall publish notice of the adoption of the Ordinance approving the Plan, including the provisions of ORS 457.135, in the Lake Oswego Review no later than four days following adoption of this Ordinance. Section 6. Severability. The provisions of this ordinance are severable. If any portion of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance. Adopted at the regular meeting of the City Council of the City of Lake Oswego held on the 24th day of July, 2012. AYES: Mayor Hoffman, Gudman, Jordan, Manor ieff NOES: Kehoe, Olson ABSENT: None ABSTAIN: None Jp^Hoffman, f a o -) Dated: �Uttl 2'a 2O/2 ATTEST: ✓' Catherine Schneii City Recorder APPR VED AS TO FO ,N .19 David D. Powell, City Attorney Ordinance No. 2598 Page 4 of 6 Exhibit A— Lake Grove Village Center Urban Renewal Plan and Exhibit B — Report Accompanying Lake Grove Village Center Urban Renewal Plan Ordinance No. 2598 Page 5 of 6 Exhibit C to Ordinance 2598 Revise Section IX of the Report dated July 17, 2012 to replace the 4th paragraph with the following: The impacts of the Plan on the Lake Oswego School District (LOSD) and Clackamas Education Service District (CESD) are not easily summarized, as Oregon K-12 school funding is determined under a statewide formula that seeks to equitably allocate funding to each district based primarily on enrollment. The foregone revenues for these education districts shown in Table 21 are more accurately categorized as a reduction in resources for schools statewide. As this reduction is shared with all other school districts statewide, the actual impact to LOSD and CESD funding is significantly less than their amounts summarized in Table 21. Statewide, local property tax revenues for K-12 education derived from permanent levy rates are combined with a fixed biennial allocation from the State's General Fund to effectively form a statewide pool of funds for K-12 public schools and education service districts called the State School Fund (SSF). Allocations from the SSF to individual districts are calculated primarily on a per-student basis, with adjustments for certain demographic and socio-economic factors and costs of transportation, among other things. Thus, the impacts of the Plan on LOSD and CESD permanent rate property tax revenues shown in Table 21 would effectively be spread across all K-12 districts statewide. The final impact of the Plan specific to LOSD and CESD is equal to each district's respective share of SSF revenues, multiplied by the foregone statewide revenues for K-12 education districts. LOSD's current allocation of SSF is approximately 1.08%, and CESD's is 3.39%. Applying these percentages to the projected impacts as summarized on Table 21, we find the cumulative impact over the life of the Plan to be approximately-$176,000 for LOSD and -$46,000 for CESD (nominal dollars, unadjusted for inflation) When these figures are adjusted for inflation (assuming 3.0% per year) and divided by the expected length of the Plan,we find the average annual impact in constant 2012 dollars would be -$3,900 for LOSD and -$1,000 for CESD. The impacts for LOSD and CESD described in the previous paragraph are most certain for the upcoming biennium, as state funding for K-12 schools is subject to the state's biennial budgeting process, which includes political as well as practical considerations, and it is possible that future legislative actions could change state funding of the SSF in direct response to the amount of statewide property taxes diverted to urban renewal programs. If only the first biennial period for the proposed urban renewal plan is used, lost revenues for LOSD and CESD as a result of the Plan will be approximately$2,300 and $600, respectively,for the 2013-15 biennial period. Ordinance No. 2598 Page 6 of 6 r Y� a r .. t s � m d d { I { s RENEWAL PLAN r s LAKE GROVE VILLAGE CENTER URBAN s Proposed for City Council Consideration on Tiny"17, 2012 Prepared for the City of Lake Oswego City of Lake Oswego Mayor: Jack D.Hoffman City Council: Jeff Gudman Donna Jordan Mike Kehoe Sally Moncrieff Mary Olson Bill Tierney Planning Commission Chair: Jon Gustafson Vice Chair: Puja Bhutam Bill Gaar Julia Glisson Jim Johnson Todd Prager Sally Moncrieff,Council Liaison City Manager: David Donaldson Assistant City Manager: Brant Williams Finance Director: Ursula Euler Assistant Planning Director: Denny Egner, Economic Development Manager: Jane Blackstone City Engineer: Guy Graham,P.E. Assistant City Engineer: Erica Rooney Administrative Assistant: Anne-Marie Simpson Urban Renewal Plan Focus Group: Linda Brown,Lake Oswego School District Joe Buck,Lake Grove Business Association Mike Buck,Lake Grove Business Association Trudy Corrigan,Lake Grove Resident Julia Glisson, Lake Oswego Planning Commission Chuck O'Leary,Lake Oswego Chamber of Commerce Ken Sandblast,Lake Grove Business Association Mary Turnock,Lake Grove Resident Cheryl Uchida,Lake Grove Resident Consultant Team Elaine Howard Consulting,LLC Elaine Howard James Vanden Bos ECONorthwest Abe Farkas,Lorelei juntunen Nick Popenuk,Whit Perkins, Emily Picha Jeannette Launer,Legal Counsel Leslie Vanden Bos,Editor Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 2 TABLE OF CONTENTS, I. INTRODUCTION 1 11, GOALS AND OBJECTIVES 6 111, OUTLINE OF MAJOR URBAN RENEWAL PROJECT ACTIVITIES 9 IV. URBAN RENEWAL PROJECTS 10 V. PROPERTY ACQUISITION AND DISPOSITION 11 VI. RELOCATION METHODS 12 VII. TAX INCREMENT FINANCING OF PLAN 13 VIII.FUTURE AMENDMENTS TO PLAN 14 IX, PROPOSED LAND USES 17 X. RELATIONSHIP TO LOCAL OBJECTIVES 19 Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 3 I. INTRODUCTION The Lake Grove Village Center Urban Renewal Plan (Plan) contains goals, objectives, and projects for the development of the Lake Grove Village Center Urban Renewal Area (Area). The overall purpose of the Plan is to use tax increment financing to overcome obstacles to the proper development of the Area. The Lake Grove Urban Renewal Plan Boundary is shown in Figure 1. The following project background is taken directly from the 2008 Lake Grove Village Center Plan: In 1999, the Lake Oswego Comprehensive Plan was amended to designate the Lake Grove area as a Town Center consistent with the Metro 2040 Plan. In 2001, the Boones Ferry Road Corridor Plan was prepared by the City but never formally adopted. Planning and public involvement for the Lake Grove Town Center began in September, 2002, and culminated with the development of the Lake Grove Town Center (LGTC) Plan Report in July, 2003. Throughout the process, several well attended community open houses and a multi-day design charrette were held to identify issues and test concepts. The LGTC Plan Report provided a summary of issues and concepts for integrating land use and transportation in the center. When completed, the LGTC Plan Report served as a source document for and bridge to the follow up implementation planning process. In October 2003, a twelve-member citizen advisory committee, chaired by a member of the Planning Commission, was appointed by the Lake Oswego City Council to assist the Planning Commission in the development of an implementation plan consistent with the projects adopted Guiding Principles and the City's Comprehensive Plan. As the Advisory Committee began its work on refining the vision, the group recommended a name change from Lake Grove Town Center to Lake Grove Village Center which they felt more accurately reflected the scale and character of development envisioned for Lake Grove. Between October 2003 and June 2005, the Advisory Committee met monthly, or in some cases weekly, to refine the vision for the Village Center and to develop implementation measures to achieve the vision. In addition, the Advisory Committee met twice per month from September 2005 through April 2006 to develop and refine draft development code language to implement the plan with additional meetings occurring during the summer. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 1 In the summer [of] 2006, the City of Lake Oswego applied to have the Plan and Code adopted by the Lake Oswego City Council. An Open House was held in September prior to the start of public hearings before the Planning Commission in October 2006. Throughout their deliberations, the Planning Commission sought to strengthen plan and code provisions to meet long-term community needs, balance various interests and concerns raised in public testimony, and to restructure the documents t better conform to the formats of the Comprehensive Plan and Community Development Code. The Planning Commission made an effort to preserve, to the greatest extent possible, the carefully balanced consensus reached by the Advisory Committee. Public hearings before the City Council began in February, 2008. The Plan was adopted in April, 2008. Throughout the planning process, the Planning Commission guided the work of consultants, staff and citizens in their efforts to create a visionary yet realistic Plan to guide future development in Lake Grove. Many of those involved came to appreciate the delicate balancing act required to integrate and coordinate the diverse interests of the many stakeholders involved in the effort. In 2011 the City of Lake Oswego hired the team of ECONorthwest, Elaine Howard Consulting, LLC and OTAK to propose a financing plan to implement the Lake Grove Village Center Plan. As part of the public review of this financing plan, there were nine individual interviews, two public meetings, two Lake Oswego Planning Commission (Planning Commission) meetings and two Lake Oswego City Council (Council) work sessions. At the second Council work session on April 24, 2012, the Council reinforced earlier direction to begin formation of an urban renewal plan to use tax increment financing to fund some of the projects in the Lake Grove Village Center Plan. An urban renewal plan focus group was formed to help guide the preparation of the urban renewal plan. The focus group met five times to provide input on the urban renewal plan components and the urban renewal planning process. The focus group contained members from the Lake Oswego Chamber of Commerce, Lake Grove Business District, Lake Grove area neighborhoods, Planning Commission and Lake Oswego School District. Two public meetings were held (April 4 and May 9, 2012) where the plan was discussed and input received from the community. Lake Grove Village Center Plan,Planning Process,p 4.Adopted 2008. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 2 The Plan includes a list of specific projects to help implement the shared community vision for the Area. These projects include reconstruction of Boones Ferry Road, as described later in this document, and parking improvements. The purpose of urban renewal is to improve specific areas of a city that are poorly developed or underdeveloped. These areas can have old or deteriorated buildings, public spaces that need improvements, streets and utilities in poor condition, a complete lack of streets and utilities altogether, or other obstacles to development. The Area has infrastructure needs, lacks adequate streetscape and parking, and does not have a program for assistance to business owners. Urban renewal allows for the use of tax increment financing to fund urban renewal projects. Urban renewal is unique in that it brings its own financing source: tax increment financing (TIF). Tax increment revenues—the amount of property taxes generated by the increase in total assessed values in the urban renewal area from the time the urban renewal area is first established—are used to repay borrowed funds. The funds borrowed are used to pay for urban renewal projects. In general, urban renewal projects can include construction or improvement of streets, utilities, and other public facilities, assistance for rehabilitation or redevelopment of property, acquisition and re-sale of property (site assembly) from willing sellers, and improvements to public spaces. The specific projects to be approved in this Plan are outlined in Section III and identified in Section IV. Urban renewal is put into effect when the City of Lake Oswego adopts an urban renewal plan. The urban renewal plan defines the urban renewal area, states goals and objectives for the area, lists projects and programs that can be undertaken, provides a dollar limit on the funds that may be borrowed for urban renewal projects, and states how the plan may be changed in the future. The Area, shown in Figure 1, consists of approximately 159.3 acres of land, including approximately 35.90 acres of right-of-way, The Plan will be administered by the Lake Oswego Redevelopment Agency (LORA), which was established by the City Council of the City of Lake Oswego as the City's Urban Renewal Agency (Agency). Substantial changes to the Plan, if necessary, must be approved by the City Council, as outlined in Section VIII of this Plan. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 3 A Report accompanies this Plan. The Report includes: • A description of the physical, social, and economic conditions in the area; • Expected impact of the Plan, including fiscal impact in light of increased services; • Reasons for selection of each Area in the Plan; • The relationship between each project to be undertaken and the existing conditions; • The total cost of each project and the source of funds to pay such costs; • The estimated completion date of each project; • The estimated amount of funds required in the Area, and the anticipated year in which the debt will be retired; • A financial analysis of the Plan; • A fiscal impact statement that estimates the impact of tax increment financing upon all entities levying taxes upon property in the urban renewal area; and • A relocation report. The maximum amount of indebtedness (amount of tax increment financing for projects and programs) that may be issued for the Plan is $36,000,000 (Thirty-Six Million Dollars). The projections of maximum indebtedness and projects to be funded are based on a 26-year time frame. This time frame is not absolute, but is used to model the financial projections. The determining factor for the Plan's time frame is the amount and terms of maximum indebtedness. Economic factors may cause that time frame to decrease if the economy strengthens or increase if the economy weakens. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 4 Figure 1 -Lake Grove Village Center Urban Renewal Area Boundary NO h h g`h�h�t�h h :}s,gh�h � h r � � s h f< 'h 'Zi, 4 v h hh''d� ha h � h 4 C3 Lake Gmve Wage �hh�i th klC Urban I Area hr r:a a �hh„h ah tt�hh� h i shhhh"hh�"�h` �a r�h 0 0.1 0. Miles rg, 1{ x `hhp'hhyh h f 3'P� j3 A � h`hh' h!h'hh hh � orthvw est E'%?200*,i.c-rfteff't WWWO x t r h t hz�h h2i. MEA f rs h? hh��hh�h.h x aft r f � hi 1hh �1� h'w hhh ` l r r `h ,hhh t . hhihh'hrh xhh.. hh F h h' E h r KM�b K 9 s+ hyLzh ? s:f hx' {j t rhh 0 Y � sh h h k hh� " 1 hshhr r h t �ri� h h huh Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal flan 5 11. GOALS AND ORIECTIVES The goals of the Plan describe its basic intents and purposes. Accompanying each goal are objectives, which generally describe how the Agency intends to achieve the goals. The urban renewal projects identified in Section IV of the Plan are the specific means of meeting certain objectives. The goals are related to the Lake Grove Village Center Plan and were developed with input from a focus group comprised of Lake Grove Business District representatives, Lake Grove area neighborhood residents, the Lake Oswego Chamber of Commerce, the Lake Oswego Planning Commission, and the Lake Oswego School District. 1. Implement the Lake Grove Village Center Plan Use urban renewal to support, fund, and implement projects that will move the Lake Grove Village Center towards achieving the goals and policies stated in the Lake Grove Village Center Plan adopted by the City Council in 2008 after extensive citizen involvement. Objectives a. Implement the vision of the Lake Grove Village Center Plan in the Area. 2. Transportation Improve the transportation network within the Area, with an emphasis on Boones Ferry Road, to create an atmosphere that promotes safety, walkability, ease of access, and a unique identity. Objectives a. Improve Boones Ferry Road to create a street that provides a safe and welcoming environment for pedestrians, bicyclists, and vehicles, accommodates auto traffic efficiently, provides adequate vehicular access and parking inventory to meet the needs of businesses, and manages stormwater within the right-of-way. b. Encourage alternative modes of transportation, including public transit, walking, and biking within the Area. c. Promote pedestrian travel by enhancing the safety, convenience and attractiveness of walking to and from the Area, including safe crossings on Boones Ferry Road and cross streets. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 6 3. Create a Unique Identity with a Sense of Place and Community Transform the Area into a vibrant mixed-use area with a unique and recognizable aesthetic identity that strengthens sense of place, promotes enjoyable visits and return patronage, and leverages private investment. Objectives a. Establish a unique identity, through Boones Ferry Road and other improvements, that enhances the Area's character, providing a sense of community for existing businesses and residents and giving visitors a reason to return to the Area. b. Create gathering places along Boones Ferry Road to create a "String of Pearls" (neighborhood gathering places) effect that will provide focal points in the Area. c. Build a Festival Street to accommodate street fairs, public markets, and other gatherings. d. Protect the residential character of the adjacent neighborhoods. e. Establish gateway features to notify pedestrians and drivers that they have entered the Lake Grove Village Center. f. Create a Village Commons to serve as a major attractor and location for community events. 4, Economy Promote the role of the Area as an energetic mixed-use community of local businesses that is supported both by the surrounding neighborhoods and visiting shoppers. Objectives a. Encourage more neighborhood-serving businesses to locate within the Area, thereby adding to the critical mass of the area. b. Support local businesses by enhancing the transportation network and ensuring there is sufficient parking to address Area demand. c. Form public-private partnerships and use public investment to generate private investment. d. Develop programs and incentives to encourage mixed-use development, housing and retail uses with a focus on retaining and attracting neighborhood-serving businesses, diverse shopping opportunities, and unique cultural attractions. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 7 5. Natural Resources Protect the natural resources and enhance the natural environment in the Area. Objectives a. Encourage the use of sustainable street design and stormwater management practices, including the use of shared stormwater facilities. b. Encourage use of sustainable building and development practices. c. Encourage the efficient and productive use of watershed resources, including the Three Sisters and Springbrook creeks. 6. Public Involvement Ensure that community values and priorities are properly represented through a process of continual community engagement and.feedback. Objectives a. Provide opportunities for meaningful public participation in decision-making. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal flan 111. OUTLINE OF MAJOR URBAN RENEWAL PROIECT ACTIVITIES The projects within the Area are transportation and parking projects. An outline of major urban renewal project activities is as follows: 1. Transportation Improvements Boones Ferry Road improvements including the street, sidewalks, a center median with greenstreet elements, traffic signals, pedestrian crosswalks, bike lanes, left turn lanes and space to allow U turns, and streetscape improvements. 2. Parking Parking development to replace parking lost in the Boones Ferry Road construction and parking to support businesses in the Area. 3, Acquisition Acquisition of property, as required for implementation of Plan projects. 4. Administration of the Plan The Agency may use funds for administration of the Plan throughout the life of the Plan. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 9 IV. URBAN RENEWAL PRO-1ECTS Urban renewal projects authorized by the Plan are described below. As shown in the Report, urban renewal funds will be combined with existing and other future sources of funding to finance project costs. Projects authorized by the Plan are: 1. Boones Ferry Road Boones Ferry Road includes full improvements as specified in the Lake Grove Village Center Plan including: • Four travel lanes (two travel lanes in each direction) • Landscaped center medians serving as a greenstreet feature to capture stormwater • Bike lanes on both sides of the street • Sidewalks, including tree wells or landscaped, planter on both sides of the street • Left turn lane and space for a-turns at the signalized intersections • Pedestrian crosswalks • Undergrounding of private utilities • Consistent streetscape elements, including pedestrian scale lighting, street furniture/benches, public transit shelters, coordinated paving materials, and street trees. . Parking Improvements Parking to replace parking lost in the Boones Ferry Road construction as outlined in the Lake Grove Village Center Plan and parking to support businesses in the Area. This Parking project may include acquisition of sites and the development of parking facilities. 3. Acquisition of Property Acquisition of property will occur as needed for required implementation of Plan projects in accordance with Section V below. 4. Administration of the Plan The Agency may use funds for administration of the Plan throughout the life of the Plan. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 10 - ------------- V. PROPERTY ACQUISITION AND DISPOSITION The Plan authorizes the acquisition and disposition of property as described in this section. Property includes any and all interests in property, including fee simple ownership, lease, easements, licenses, or other rights to use. A. Property Acquisition for Public Improvements The Agency may acquire any property within the Area for the public improvement projects undertaken pursuant to the Plan by all legal means, including use of eminent domain in compliance with State law. Good faith negotiations for such acquisitions must occur prior to institution of eminent domain procedures. B. Property Acquisition—From Willing Sellers The Plan authorizes Agency acquisition of any interest in property within the Area that the Agency finds is necessary to implement the Plan. The Plan does not authorize the Agency to use the power of eminent domain to acquire property from a private party to transfer property to another private party for private redevelopment. C. Land Disposition The Agency will dispose of property acquired for a public improvement project by conveyance to the appropriate public agency responsible for the construction and/or maintenance of the public improvement. The Agency may retain such property during the construction of the public improvement. The Agency may dispose of property acquired under Subsection B of this Section V by conveying any interest in property acquired. Property shall be conveyed at its fair reuse value. Fair reuse value is the value, whether expressed in terms of rental or capital price, at which the urban renewal agency, in its discretion, determines such land should be made available in order that it may be developed, redeveloped, cleared, conserved, or rehabilitated for the purposes specified in such plan. Because fair reuse value reflects limitations on use of the property to those purposes specified in the plan, the value may be lower than the property's fair market value. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan I I Where land is sold or leased, the purchaser or lessee must agree to use the land for the purposes designated in the Plan and to begin and complete the building of its improvements within a period of time that the Agency determines is reasonable, VI. RELOCATION METHODS When the Agency acquires occupied property under the Plan, residential or commercial occupants of such property shall be offered relocation assistance, as required under applicable State law. Prior to such acquisition, the Agency shall adopt rules and regulations, as necessary, for the administration of relocation assistance. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 12 VII. TAX INCREMENT FINANCING OF PLAN Tax increment financing consists of using annual tax increment revenues to make payments on debt, usually in the form of tax increment bonds. The proceeds of the bonds are used to finance the urban renewal projects authorized in the Plan. Bonds may be either long-term or short-term. Tax increment revenues equal most of the annual property taxes imposed on the cumulative increase in assessed value within an urban renewal area over the total assessed value at the time an urban renewal plan is approved. (Under current law, the property taxes for general obligation(GO)bonds and local option levies approved after October 6, 2001 are not part of the tax increment revenues.) A. General Description of the Proposed Financing Methods The Plan will be financed using a combination of revenue sources. These include: • Tax increment revenues; • Advances, loans, grants, and any other form of financial assistance from the Federal, State, Port, local governments, or other public bodies; • Loans, grants, dedications, or other contributions from private developers and property owners, including,but not limited to, assessment districts; and • Any other public or private source. Revenues obtained by the Agency will be used to pay or repay the costs, expenses, advancements, and indebtedness incurred in (1) planning or undertaking project activities, or (2) otherwise exercising any of the powers granted by ORS Chapter 457 in connection with the implementation of this Plan. B. Tax Increment Financing and Maximum Indebtedness The Plan will be financed, in whole or in part,by tax increment revenues allocated to the Agency, as provided in ORS Chapter 457. The ad valorem taxes, if any, levied by a taxing district in which all or a portion of the Area is located, shall be divided as provided in Section 1c, Article IX of the Oregon Constitution, and ORS 457.440. Amounts collected pursuant to ORS 457.440 shall be deposited into the unsegregated tax collections account and distributed to the Agency based upon the distribution schedule established under ORS 311.390. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 13 The maximum amount of indebtedness that may be issued or incurred under the Plan, based upon good faith estimates of the scope and costs of projects in the Plan, and the schedule for their completion, is$36 million (Thirty-Six Million Dollars). This amount is the principal of such indebtedness and does not include interest or indebtedness incurred to refund or refinance existing indebtedness. C. Prior Indebtedness Any indebtedness permitted by law and incurred by the Agency or the City of Lake Oswego in connection with the preparation of this Plan or prior planning efforts that support the preparation or implementation of this Plan may be repaid from tax increment revenues from the Area when, and if, such funds are available. VIII. FUTURE AMENDMENTS TO PLAN The Plan may be amended as described in this section. A. Substantial Amendments Substantial Amendments are solely amendments: • Adding land to the urban renewal area, except for an addition of land that totals not more than 1%of the existing area of the urban renewal area; or • Increasing the maximum amount of indebtedness that can be issued or incurred under the Plan. Substantial Amendments, in accordance with ORS 457.05(2)(i), shall require the same notice, hearing, and approval procedure required of the original Plan under ORS 457.095, including public involvement, consultation with taxing districts, presentation to the Planning Commission, and adoption by the City Council by non-emergency ordinance after a hearing. Notice of such hearing shall be provided to individuals or households within the City of Lake Oswego, as required by ORS 457.120. Notice of adoption of a Substantial Amendment shall be provided in accordance with ORS 457.05 and 457.115. B. Minor Amendments Minor Amendments are amendments that are not Substantial Amendments in scope. They require approval by the Agency by resolution. Proposed for 7/17112 City Council Consideration:Lake Grove Village Center Urban Renewal flan 14 C. Amendments to the Lake Oswego Comprehensive Plan and/or Lake Oswego Community Development Code Amendments to the Lake Oswego Comprehensive Plan and/or Lake Oswego Community Development Code that affect the Urban Renewal Plan and/or the Urban Renewal Area shall be incorporated automatically within the Urban Renewal Plan without any separate action required by the Agency or the City Council. Proposed for 7/17/12 City Council Consideration: Lake Grove Village Center Urban Renewal Plan 15 Figure 2—Zoning and Comprehensive Plan Designations 7`� 1 f� rr+wrrMy�wrwenww � � . r, „"r �� s r�� er ✓Prrz / trr,x, b r rrr xa, {3gg, r ,s x.. oemw CWMWtuffM 1 Ww INet dR-O �✓ r'?d s k xxxa`a,�; , x rz� 2{3Y1f'az r '� dr'r r t t 5 1F�FA0'� �t�r.Ay�rh"fi l�r y f5 I5q€Y'IT`i�' t IM ME POStR»# r mP yMr, PACk A1MA x s 5 02 101 Wes ECON RTC a :r Lxr� s xxa�r; a r a ri ,�rl t rzUF t}r la l>$r iz �: ✓r S yr�V i��a�����z iv r � r a s zz 1 � e erth est r£ r g omgrf rt, flxt !a 1 zsxl'' ur szx rx xyl x VIM,✓ �Yy 3�W�e+ti*41 k r rd x rx x �y t u r op a a i 3 t r xr z r ,xr f t .S z ry rrsvi z ^�' F,: ✓ r t' ``N ? ziy.r ,r f z £ x r r lIrrJ✓ r{} t r `f r r� nxr l x , j'�i m rum, h nit„ rrs^ a r r »x r""t rsxr r f, r�k x' a� .r� rr ,,,k z , Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 16 IX PROPOSED LAND► USES The proposed land uses are those identified in the Lake Oswego Community Development Code Article 50 (zoning code) and the Lake Oswego Comprehensive Plan. The zoning code categories in the Area are shown below. If these are updated by the City of Lake Oswego, those updates are automatically incorporated into this Plan. General Commercial: To provide lands for commercial activities supplying a broad range of goods and services to a market area that includes the planning area identified in the Comprehensive Plan. Office Campus: To provide lands for major concentrations of regionally-oriented offices and employment opportunities for a market area larger than the planning area. Neighborhood Commercial: To provide land near or within residential areas for commercial activities. Residential Zones 7.5: The purpose of the low density residential zones is to provide lands for single-family residential development with densities ranging from two to five dwelling units per gross acre. Residential R-5: To provide lands for single and multi-family residential development with densities ranging from seven to eight dwelling units per gross acre. Residential R3, R2:To provide lands for single and multi-family residential development with densities of at least 12 dwelling units per gross acre. Campus Research and Development: To provide a mix of clean, employee-intensive industries, offices and high-density housing with associated services and retail commercial uses in locations supportive of mass transit and the regional transportation network. Park and Open Space: The purposes of the Park and Natural Area (PNA) Zone are to: i. Protect, preserve, conserve, and enhance natural areas, greenways, and parks; ii. Permit a wide range of passive and active recreational uses, and accessory uses, on property for the future use and enjoyment of the City and its residents; iii. Implement Statewide Planning Goal 8, Recreational Needs; and iv. Establish a Master Plan process for park planning and development. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 17 Public Functions: The Public Functions (PF) Zone is intended to specify appropriate land uses and development standards for public uses, such as government services, education, and similar activities. West Lake Grove District: The purpose of the West Lake Grove District is to create an attractive mixed use district that includes housing, office, and limited retail. There are a number of zone districts within the West Lake Grove District including Town Home Residential (WLG R-2.5), Residential Live Work (WLG RLW), Residential Mixed Use (WLG RMU), and Office-Commercial (WLG OC). There are not purpose statements for each of the zones within the West Lake Grove District. The maximum densities and building requirements can be found in the Lake Oswego Development Code, Article 50. This Plan will conform to those requirements. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 18 X. RELATIONSHIP TO LOCAL OBTECTIVES The Plan conforms with local planning and development objectives contained within the City of Lake Oswego's Comprehensive Plan, including the Lake Grove Village Center Plan, and the Lake Oswego Economic Development Strategy. The following section describes the purpose and intent of these plans, the particular goals and policies within each planning document to which the proposed Plan conforms, and an explanation of how the Plan relates to these goals and policies. The numbering of the goals, policies, and implementation strategies will reflect the numbering that occurs in the original document. Italicized text is text that has been taken directly from an original planning document. The Zoning and Comprehensive Plan designations are shown in Figure 2. A. City of Lake Oswego Comprehensive Plan Land use planning involves the consideration and balancing of many different factors and issues to make the best decisions for the community both for the short and long term. The goals and policies of Lake Oswego's Comprehensive Plan are intended to guide the community in making these decisions. The Plan is intended for use by all those who have concerns with the City's land use planning process including; local officials, persons with development interests, state, regional and federal agencies, neighborhood and community groups, and citizens of all interests. The proposed Plan relates to and conforms with several of these stated goals, policies, and implementation strategies. Of particular relevance are sections pertaining to Citizen Involvement, Land Use Planning, Open Spaces, Air, Water, and Land Resources Quality, Parks and Recreation, Economic Development, Housing, Public Facilities and Services, Transportation, Energy Conservation, and Urbanization. Goal 1. Citizen Involvement GOAL The City shall: a. Create opportunities for every interested citizen to be involved in all phases of the planning process to ensure that their concerns are heard; b. Encourage broadly based public participation including all geographic areas and diverse interests; and, Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 19 c. Ensure regular and ongoing two-way communication between citizens and City elected and appointed officials. The Plan conforms with Goal 1 Citizen Involvement as there has been substantial citizen involvement in the creation of the Plan. A focus group, that met five times, was organized to provide review of the Plan components. The focus group was comprised of representatives of the Lake Grove Business Association, Lake Grove area neighborhoods, Lake Oswego Chamber of Commerce, Lake Oswego Planning Commission, and Lake Oswego School District. Two open public meetings were held. These meetings were advertised in Hello LO, the Lake Oswego Review, and posted on the City of Lake Oswego's website. The Plan will be reviewed formally by the Planning Commission and Lake Oswego City Council after notice to all citizens of Lake Oswego. In addition to the public involvement in the preparation of the Plan, there has been substantial public involvement in the creation of the Lake Grove Village Center Plan, as detailed in the Background section of the Plan. Goal 2. Land Use Planning Section 2, Community Design and Aesthetics GOAL The City shall maintain and enhance the appearance and design quality of Lake Oswego. POLICY 4, Ensure that both public and private development enhance the aesthetic quality of the community. The Plan conforms with Goal 2 Land Use Planning as the projects that are to be implemented in the Plan will maintain and enhance the appearance and design quality of Lake Oswego. The design details of the reconstruction of Boones,Ferry Road are described in detail in the Lake Grove Village Center Plan, which is a component of the Lake Oswego Comprehensive Plan. Goal 6.Air,Water, and Land Quality Section 2 Water Quality GOAL The City shall: a. Reduce water pollution and ensure that future land use activities protect and enhance area water quality, and; b. Protect and enhance the functions and values of the natural ground and surface water drainage systems. POLICIES Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 20 1. Protect the natural surface water drainage systems and enhance water quality by treating and controlling run-off and pollution at the source. 2. Favor the use of the natural drainage system and other non-structural methods to treat, convey and dispose of run-off. 3. Labe Oswego's management of surface water shall: a. Restore, protect and enhance water quality and the physical and biological integrity of rivers, lakes and stream corridors and their associated environmental values including natural vegetation,fish and wildlife habitats; b. Promote public safety and minimize damage to public and private property by surface water run-off, and, c. Educate and involve the community in opportunities to restore, protect and enhance water quality. . Fund surface water management programs in a manner which allocates costs based upon the impact a development has upon the surface water management system. 5. Require all development to: a. Comply with applicable local, state and federal water quality and erosion control standards; and, b. Implement measures to minimize run-off from the development site during and after construction. The Plan conforms with Goal 6 Air, Water and Land Quality, Section 2 Water Quality as the reconstruction of Boones Ferry Road is intended to utilize Green Street features that will provide for a natural drainage system for the road, which will, in turn, treat and contain run-off and pollution at the source. The Plan will promote public safety by minimizing the damage to public and private property by managing water run-off. Goal 8. Parks and Recreation GOAL The City shall plan, acquire, develop and maintain a system of park, open space and recreation facilities, both active and passive, that is attractive, safe,functional, available to all segments of the population and serves diverse current and long range community needs. POLICIES 1. Plan for park and recreation facilities which: a. Provide for active and passive recreational opportunities; b. Educate and entertain the public through interpretive and recreational programs; c. Promote enjoyment of the cultural arts; and, d. Enhance the environmental quality of the City. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 21 2. Identify and acquire lands which satisfy current andlor long-range community recreation needs in terms of size and usability for planned activities and facilities. 3. Coordinate park planning, acquisition and development with affected neighborhoods and with other community projects and programs. 4. Distribute park and recreation opportunities by type throughout the City as land availability allows. . Ensure a long-range balance is maintained between land acquisition and facility development efforts to: a. Avoid the irrevocable loss of land suitable for park and recreation uses; b. Minimize future land acquisition costs; and, c. Provide for the activity needs and preferences of the community. 6. Require developers to pay their equitable share of future park acquisition and development costs. 7. Plan and develop a system of pathways which can connect open space and park facilities with neighborhoods. 8. Develop parks that a. Are compatible with adjacent land uses, by using setbacks and effective buffering and screening to minimize impacts of intensive uses such as traffic, parking, bright lights and noise; b. Do not generate traffic which exceeds the design capacity of adjacent streets at off peak hours and, where feasible, do not utilize local residential streets to accommodate traffic generated by intensive uses; and, c. Are, where possible, accessible by a variety of transportation modes including transit, bicycling and walking. 10. Provide accessibility to all park users, according to applicable state and federal laws. 1 . Integrate open space, pathways and view corridors, with park land and facilities. 18. Coordinate and cooperate with school districts and other organizations to meet park and recreation needs of the City and the region and to assure optimum efficient use of all parks and recreation facilities and resources. The Plan conforms with Goal 8 Parks and Recreation as the Plan will provide for improvements to Poones Ferry Road that will provide bicycle and pedestrian connectivity to the Area as envisioned with the full development of the Lake Grove Village Center Plan: connecting to the string of pearls, festival street, and village commons in the Area. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban renewal Plan 22 Goal 9. Economic Development GOAL The City shall provide for economic development opportunities which enhance the prosperity and livability of the community. POLICY 6. Support redevelopment of existing vacant and underutilized industrial and commercial lands rather than designating additional lands for these purposes. 8. Prevent further expansion of"strip commercial development"and encourage redevelopment of existing strip commercial areas to become more attractive and oriented toward pedestrians and transit. 9. Ensure neighborhood commercial areas that are: a. Conveniently located and minimize the need for automobile travel; b. Developed at a scale and in character with the area to be served; and, c. Consistent with applicable and adopted Neighborhood Plans. 10. Designate the Downtown and Lake Grove Commercial Districts as the primary centers of general commercial activity in Lake Oswego. 11. Require new commercial development, where possible, to develop joint street access, parking facilities, and pedestrian connections with other businesses to reduce land area requirements, traffic congestion, parking and safety problems. 12. Place new utilities and, where possible, existing utilities within commercial and industrial districts, underground. 17. Allow mixed use development within the Downtown and the Lake Grove Business Districts to provide opportunities for commercial, entertainment, professional, cultural, public, and residential activities. Regional draw (business other than those providing specialized services and unique goods)shall not be located in these districts. The Plan conforms with Goal 9 Economic Development as the reconstruction of Boones Ferry Road will stimulate economic development within the Area by providing much improved auto, pedestrian, and bicycle access to businesses within the Area. The improvements will make the area more pedestrian friendly by installing pedestrian crossings that break down the "strip development" feel of the Area. The road development will create a visually pleasing atmosphere that will also support future economic development in the Area. New development will be guided by the LGVC Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 23 Plan, which is a component of the Comprehensive Plan. A portion of the project costs are allocated to undergrounding of utilities. Goal 10. Housing GOAL The City shall: a. Provide the opportunity for a variety of housing types in locations and environments to provide an adequate supply of safe, sanitary, energy efficient housing at price and rent levels appropriate to the varied financial capabilities of present and future city residents; b, Protect the character of existing neighborhoods; and, c, Provide for needed housing while protecting environmentally sensitive areas, using land and Public facilities as efficiently as possible, and facilitating greater use of alternative transportation modes. POLICIES 10. Provide for an interconnected street system to encourage pedestrian, bicycle and transit travel and to reduce vehicle miles traveled to local destinations thus reducing energy use, pollution and congestion. 11. Place higher density residential, employment and shopping opportunities and public facilities, such as transit and parks, within close proximity where feasible. The flan conforms to goal 10 Housing as the projects in the Plan will provide for an interconnected street system to encourage pedestrian,bicycle, and: public transit travel and help reduce per capita vehicle miles traveled in the Area. The reconstruction of Boones Ferry Road will encourage future development in the Area, which is zoned for mixed-use development and has the ability to incorporate housing uses. Goal 11. Public Facilities and.Services Section 2, Stormater Management i GOAL The City shall reduce storm water problems which cause flooding, erosion and water quality problems. POLICIES 1. Minimize future storm drainage problems within and adjacent to the Urban ,Services Boundary (USB). 2. Implement measures to protect existing drainage systems and easements. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 24 5. Require new storm drainage facilities to have the capacity to accommodate projected upstream flows within the respective drainage basin in addition to runoff generated by the development served by these facilities. 6. Require developers to construct required storm drainage facilities and to pay an appropriate system development charge (SDC). 7. Develop equitable funding mechanisms: a. For storm drainage facilities maintenance; b. To resolve the deficiencies of the existing system within developed areas, and provide adequate storm drainage services to developing areas; and, c. To implement a capital improvement program (CIP)for the storm drainage system. 8. Utilize natural systems and non-structural methods to control storm water run-off at the source as a preference to structural systems to the extent allowed by site characteristics. The Plan conforms with Goal 11 Public Facilities and Services, Section 2 Stormwater Management as the reconstruction of Boones Ferry Road includes a major component to address stormwater issues along the road. The Green Street features include a center median that will serve to manage the water run-off in the Area. Goal 12. Transportation GOAL12-1: MAJOR STREETS SYSTEM (Transportation) Lake Oswego shall develop a major street system consisting of major and minor arterials and major collectors, which will have minimal impact on the City's air quality, address the mobility needs of residents for all modes of travel and promote energy conservation. POLICIES 1. The arterial and major collector street network shall be designed and maintained to service level "E"during peak hours, The design of the roadway system shall also take into consideration: a. Balancing roadway size and scale with the need to provide efficient and safe transportation for all modes of travel, including bike, pedestrian and transit, b. Giving preference to transportation projects that increase the efficiency, safety, design capacity or level of service of a transportation facility, without increasing corridor width; and c. Preserving community aesthetics by considering existing topography and vegetation. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 25 4. Where residential neighborhoods are bisected by existing major streets, the impacts of traffic — noise, safety, aesthetics and air quality — shall be minimized by the following actions: a. Where feasible, traffic generated by new development, shall be routed to other available major streets that are not within or adjacent to residential uses. b. Ensure that traffic generated by new land uses does not exceed the design capacity of the street system, or adversely affect adjoining neighborhoods. c. Provision of safe and efficient bicycle and pedestrian improvements to connect residential areas to other areas of the community. d. Measures to physically re-orient residential areas away from major streets. This may include installation of major landscape elements such as landscaped buffers and tree plantings, and the development of neighborhood activity centers such as public open spaces, parks and community centers. e. New commercial uses and neighborhood activity centers such as parks, schools and community centers shall provide direct, convenient access to and from adjacent residential areas to facilitate walking, bicycling and short auto trips. Measures shall be implemented to ensure that such routes do not attract or serve traffic from outside the neighborhood. 6. The City shall consider the movement of freight within the City when: a. Conducting multi-modal transportation studies, b. Developing truck routing plans, and; c. Developing freight loading and parking strategies. The Plan conforms with Goal 12 Transportation as the main project in the Plan is the reconstruction of Boones Ferry Road, the arterial through the Area. The reconstruction will help provide more efficient and safer transportation systems in the Area, including auto, pedestrian, and bicycle access in the Area. The reconstruction will encourage additional pedestrian and bicycle trips because of improved facilities. Safer sidewalks and bike lanes will provide much needed connectivity to the adjacent residential neighborhoods, hopefully reducing automobile trips in the future. The road reconstruction includes major landscape elements to improve the aesthetic features in the Area. GOAL 12-5: TRANSPORTATION DEMAND MANAGEMENT (Transportation) GOAL Lake Oswego shall develop strategies and implement programs that reduce the number of automobiles traveling in Lake Oswego, especially during peak morning and evening traffic hours. POLICIES Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban►Renewal Plan 26 2. Support the Department of Environmental Quality (DEQ) Employee Commute Options (ECO)goals for trip reductions. 3. Increase the attractiveness of alternative transportation through mixed use development in areas consistent with the Region 2040 Plan. The Plan conforms with Goal 12 Transportation, sub-goal 5 Transportation Demand Management as the main project in the Plan is the reconstruction of Boones Ferry Road, the arterial through the Area. The reconstruction will help provide more efficient and safer transportation systems in the Area, including auto, pedestrian, and bicycle access in the Area. The reconstruction will encourage additional pedestrian and bicycle trips because of the improved facilities. `safer sidewalks, pedestrian crossings, and bike lanes will provide much needed connectivity to the adjacent residential neighborhoods, hopefully reducing automobile trips in the future. GOAL12- 6: WALKING (Transportation) GOAL The City shall provide a continuous citywide network of safe and convenient walkways that promotes walking as a mode of travel for short trips. POLICIES 1. Integrate pedestrian access needs into planning, design, construction and maintenance of all transportation projects. 2. Improve access to and use of the public transportation system through pedestrian improvements and changes in land use patterns. 3. Connect local walkways to activity centers such as schools, employment areas, parks, commercial areas, and transit centers and corridors. 4. The City shall make the pedestrian environment safe, convenient, attractive and accessible for all users through: a. Planning and developing a network of continuous sidewalks, pathways, and crossing improvements that are accessible per the requirements of the Americans with Disabilities Act (ADA), b. Providing adequate and safe street crossing opportunities for pedestrians, and c. Improving street amenities (e.g., landscaping, pedestrian-scale street lighting, benches and shelters)for pedestrians, particularly near transit centers, town centers, main streets, employment centers, and transit corridors serving the primary transit network. 5. Involve citizens in the pedestrian facility planning process as well as in facility design. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 27 6. The City shall ensure that planned bike and pedestrian paths are not obstructed as the result of new land development, 7. The City shall require developers to provide pathway connections from new development projects to the existing bicycle and pedestrian system. 8. The City shall work to preserve existing railroad rights-of-ways and other easements to maintain opportunities for future mass transit, bike and pedestrian paths. The Plan conforms with Goal 12 Transportation, sub-goal 6 Walking as the main project in the Plan is the reconstruction of Boones Ferry Road, the arterial through the Area. The reconstruction will help provide more efficient and safer transportation systems in the Area, including pedestrian access in the Area. The reconstruction will encourage additional pedestrian trips because of the improved facilities. Safer sidewalks, pedestrian crossings, and bike lanes will provide much needed connectivity to the adjacent residential neighborhoods, hopefully reducing automobile trips in the future. GOAL 12-7: BICYCLING (Transportation) GOAL The City shall provide a network of safe and convenient bikeways integrated with other transportation modes to increase modal share of bicycle transportation for all trip purposes. POLICIES 1. Integrate bicycle access needs into planning, design, construction and maintenance of all transportation projects. 2. Connect local bicycle facilities for bicyclists to ride to local and regional destinations, activity centers, connections to other transportation modes and the regional bicycle network. 3. Maintain existing and future bicycle facilities to encourage use. 4. Require, as appropriate, and encourage the placement of bicycle lockers and bicycle racks at major destinations and activity centers. Encourage covered bicycle parking whenever possible. 5. The City shall work to preserve existing railroad rights-of-ways and other easements to maintain opportunities for fu tu re mass transit, bike and pedestrian paths. The Plan conforms with Goal 12 Transportation, sub-goal 7 Bicycling as the main project in the Plan is the reconstruction of Boones Ferry Road, the arterial through the Area. The reconstruction will help provide more efficient and safer transportation systems in the Area, including bicycle access in the Area. The reconstruction will encourage additional bicycle trips because of the improved facilities. Safer sidewalks Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 28 and bike lanes will provide much needed connectivity to the adjacent residential neighborhoods, hopefully reducing automobile trips in the future. Proposed far 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal flan � Y � 29 GOAL 12-10: CITIZEN INVOLVEMENT (Transportation) GOAL Lake Oswego shall ensure that opportunities are provided for citizen involvement in decisions affecting the City's transportation system. POLICIES 1. Public involvement opportunities shall be provided for all major transportation projects. The Plan conforms with Goal 10 Transportation, sub-goal 10 Citizen Involvement as there has been substantial citizen involvement in the creation of the Plan. A focus group, that met five times, was organized to provide review of the Plan components. The focus group was comprised of representatives from the Lake Grove Business Association, Lake Grove area neighborhoods, Lake Oswego Chamber of Commerce, Lake Oswego Planning Commission, and Lake Oswego School District. Two open public meetings were held. These meetings were advertised in Hello LO, the Lake Oswego Review, and posted on the City of Lake Oswego's website. The Plan will be reviewed formally by the Planning Commission and Lake Oswego City Council after notice to all citizens of Lake Oswego. In addition to the public involvement in the preparation of the Plan, there has been substantial public involvement in the creation of the Lake Grove Village Center Plan, as detailed in the Background section of the Plan. There was also substantial public involvement in the Boones Ferry Road Refinement Plan. GOAL 12-11: PARKING (Transportation) GOAL Adequate on-site parking and loading facilities shall be provided for all land uses. The Plan conforms with Goal 10 Transportation, sub-goal Parking as parking is a project identified in the Plan in direct response to the stipulations in the LGVC Plan that no parking is lost due to the reconstruction of Boones Ferry Road and also in an effort to support the Area businesses. Goal 13. Energy Conservation GOAL The city shall conserve energy. POLICIES 3. Reduce energy consumption related to transportation by promoting a reduction in vehicle miles traveled through the use of alternative transportation. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 30 4. require energy-efficient land use and circulation patterns through mixed use development, promoting high density developments near transit and major employment and shopping opportunities, and design of developments to encourage alternative transportation. The Plan conforms with Goal 13 Energy Conservation as the reconstruction of Boones Ferry Road is intended to reduce trips within the Area by encouraging more pedestrian and bicycle traffic and transit through the Area. Increased safety and enhanced facilities for pedestrians and bicyclists, including the connectivity to the neighborhoods, is intended to increase alternative modes of transportation in the Area. The reconstruction of the road will help catalyze mixed-use development in the Area. Goal 14. Urbanization GOAL Lake Oswego shall ensure that the rate, amount, type, location and cost of population growth and development within or outside of the Urban Service Boundary will not diminish the quality of life the City has presently attained. POLICIES 7. The City shall work to minimize the expansion of the Urban Growth Boundary by. a. Providing opportunities to achieve and maintain a compact urban form and targeting public investments to reinforce a compact urban form. b. Protecting existing Inner.Neighborhoods by focusing future commercial and medium to high residential growth in and in close proximity to Town Centers and Main Streets and along Transit Corridors that contain commercial, high density residential or mixed use development. c. Maintaining livability. The Plan conforms with Goal 14 Urbanization as the reconstruction of Boones Ferry Road and other projects included in the Plan will help encourage additional development within the Area, helping to achieve a more compact urban form and protect existing neighborhoods. Improvements to the Area as envisioned in this Plan will add to the quality of life by providing additional pedestrian and bicycle linkages to the adjacent neighborhoods and improved automobile access to the Area. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 31 B. Lake Grove Village Center Plan The Lake Grove Village Center Plan is a Special District Plan within the Lake Oswego Comprehensive Plan. The purpose of the Lake Grove Village Center Plan is to provide implementation measures to achieve the community's vision for the Lake Grove Village Center. The Lake Grove Village Center Plan Goals and Policies are organized under the four sections as follows: 1. TRANSPORTATION GOAL 1: Transform Boones Ferry into a Great Street Create an attractive street that promotes a safe, welcoming and convenient environment for pedestrians, bicyclists and vehicles, accommodates auto traffic efficiently, provides adequate vehicle access to meet the needs of businesses, and manages stormwater within the right-of-way. POLICIES 1.1 Utilize engineering and urban design strategies to improve access to and from businesses in the corridor, and calm traffic on Boones Ferry Road. 1.2 Provide landscaped center medians along Boones Ferry Road to organize access, enhance safety, manage storm water and to beautify the corridor. 1.3 Employ green street concepts in Boones Ferry Road improvements where practicable. Consider Boones Ferry Road's function as a significant water conveyance system within an urban watershed. Integrate storm water system improvements for watershed health including water quality, habitat, and tree canopy coverage. 1.4 Provide continuous sidewalks and bike lanes to enhance safety along Boones Ferry Road. 1.5 Provide pedestrian crossings at regular intervals. Consider signalization of pedestrian crossings in design refinement studies. The Plan conforms with Goal 1 Transform Boones Ferry into a Great Street as the main project in the Plan is the reconstruction of Boones Ferry Road, the arterial through the Area. The design will provide strategies to improve access to businesses and provide landscape medians to organize access, enhance safety, and manage stormwater. The reconstruction will help provide more efficient and safer transportation systems in the Area, including auto, pedestrian, and bicycle access in the Area. The reconstruction will encourage additional pedestrian and bicycle trips because of the improved facilities. Proposed for 7/17/12 City Council Consideration: Lake Grove Village Center Urban Renewal Plan 32 The road reconstruction includes major landscape elements to improve the aesthetic features in the Area and incorporates green street elements. GOAL 2:Enhance Alternative Modes of Travel Promote the safe and convenient use of public transit service and bicycling within, to and from the Village Center. POLICIES 2.1 Create enhanced public transit service between the Village Center and surrounding areas (e.g. bus, shuttle bus, trolley, commuter rail). In partnership with TriMet, design and construct bus shelters along Boones Ferry Road and Kruse Way. 2.2 Provide a range of safe bicycling options, including, but not limited to, on-street bike lanes on Boones Ferry Road (and major collectors, as appropriate), a marked neighborhood bike route around the Village Center and secure bicycle parking. The Plan conforms with Goal 2 Enhance Alternative Modes of Travel as the main project in the Plan is the reconstruction of Boones Ferry Road, the arterial through the Area. The reconstruction will help provide more efficient and safer transportation systems in the Area, including bicycle lanes for better access in the Area. The reconstruction will encourage additional bicycle trips because of the improved facilities. Safer sidewalks and bike lanes will provide much needed connectivity to the adjacent residential neighborhoods, hopefully reducing automobile trips in the future. The road reconstruction will provide transit facilities within the Area. GOAL 3: Enhance the Pedestrian Environment and Connectivity Enhance the safety, convenience and attractiveness of walking, transit and bicycling within, to and from the Village Center including safe crossings on Boones Ferry Road and cross streets. POLICIES 3.2 Provide continuous sidewalks, pedestrian refuges, landscaped medians, consolidated driveways, crosswalks, signals at crosswalks, public restrooms, and attractive transit shelters. Replace overhead utilities with under-ground utilities. 3.3 Emphasize pedestrian amenities on cross streets to the neighborhoods to strengthen connections to the Village Center. Augment the non-grid system of streets with additional off-street pedestrian and bike pathways to provide safe and convenient connections for all ages. 3.4 Encourage safe pedestrian connections between businesses and parking areas and connectivity between businesses on each side of Boones Ferry Road. Pedestrian arcades, covered walkways and other design features are encouraged to connect uses in a safe and convenient manner. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 33 The Plan conforms with Goal 3 Enhance the Pedestrian Environment and Connectivity as the main project in the Plan is the reconstruction of Boones Ferry Road, the arterial through the Area. The reconstruction will help provide more efficient and safer transportation systems in the Area, including pedestrian access in the Area. The reconstruction, which includes additional pedestrian crossings and improved sidewalks, will encourage additional pedestrian trips because of the improved facilities. Safer sidewalks will provide much needed connectivity to the adjacent residential neighborhoods, hopefully reducing automobile trips in the future. IL LAND USE GOAL 4: Encourage a Mix of Uses within the Village Center Promote an economically vibrant, sustainable, and transportation efficient district based on a range of uses and compact development. POLICIES 4.1 Foster a mix of uses, including retail businesses, services, offices, and residential development. 4.2 Preserve and increase the number of high density housing units and provide a range of housing opportunities. 4.3 Encourage the retention or addition of affordable housing. 4.4 Encourage retention of local, small-scale and independent businesses at redevelopment. 4.5 Develop incentive programs and code provisions to encourage retail, mixed use, and high density housing projects. 4.6 Promote sustainable and low-impact development strategies for private and public development. The Plan conforms with Goal 4 Encourage a Mix of Uses within the Village Center as the reconstruction of Boones Ferry Road and the development of parking in the Area will help to foster a mix of uses in the Area, including high density housing, affordable housing, and local, small-scale, and independent businesses. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal flan 34 GOAL 5: Strengthen the Lake Grove Sense of Place and Community Provide public uses designed to foster community relationships and to leverage desired private development. POLICIES 5.1 Create a series of community gathering places (a "string of pearls") throughout the Village Center to enhance Lake Grove's sense of community identity and provide opportunities for social and cultural engagements. 5.2 Create a village commons to serve as a major attracter and location for community events. 5.4 Foster a sense of place by coordinating unified design elements and features in public areas throughout the Village Center. (Refer to policies under Goal 6 Enhance Village Character below.) 5.5 Provide distinctive public art to reflect Lake Grove's history or unique character. The Plan conforms with Goal 5 Strengthen the Lake Grove Sense of Place and Community as the reconstruction of Boones Ferry Road will integrate features that will create an identity and a sense of place and community within the Area. The design standards in the LGVC Plan will guide the design process for the road reconstruction, ensuring unified design elements and features. GOAL 6: Enhance Village Character Create a distinct Lake Grove identity based on unified design features that support pedestrian activity and are compatible with existing development. POLICIES 63 Ensure development contributes to a unified village character. 6.2 Ensure consistent streetscape and public area design treatments reflecting mature native trees, water, stone, and other elements characterizing the area's natural environment. 6.3 Create a safe, attractive pedestrian environment while incorporating sustainable practices and products. 6.4 Permit a diverse mix of building styles,foster compatibility, encourage sustainable building and stormwater management practices, and create a rich, pedestrian-scale environment. 6.5 Invite people into the district Define entries into the Village Center with unique gateway features on Boones Ferry Road that reflect Lake Grove's sense of place. 6.6 Preserve and highlight the history of Lake Grove. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 35 The Plan conforms with Goal 6 Enhance Village Character as the reconstruction of Boones Ferry Road will integrate features that will create an identity and a sense of place and community within the Area. The design standards in the LGVC Plan will guide the design process for the road reconstruction, ensuring unified design elements and features, and consistent streetscape and public area treatments, as specified in the LGVC Plan. The new sidewalks will help create a safe and attractive pedestrian atmosphere. GOAL 7: Protect the Residential Character of Adjoining Neighborhoods Maintain livability in adjoining low-density residential neighborhoods by ensuring compatible Village Center development. POLICIES 7.1 Reduce impacts on surrounding residential development using landscaping, lighting, noise mitigation and other standards to create buffers between development in the Village Center and abutting residential neighborhoods. 7.2 Transition and decrease the intensity and scale of development along the cross streets trans itioning from Boones Ferry Road to the edges of the Village Center. 7.3 Manage on-street parking opportunities for neighbors who live adjacent to the Village Center. 7.4 Discourage cut-through traffic in the neighborhoods. Ensure that current classifications of streets are maintained. The Plan conforms with Goal 7 Protect the Residential Character of Adjoining Neighborhoods as the reconstruction of Boones Ferry Road will include landscape features and parking projects that will help keep automobile traffic on the main streets and parking within the commercial core of the Area. III. NATURAL RESOURCES GOAL 8:Protect Natural Resources and Enhance the Natural Environment within the Village Center. Strengthen Lake Grove's character, enhance quality of life, and promote clean, efficient practices through stewardship of the natural environment. POLICIES 8.1 Preserve existing trees and tree groves, in particular native species to the greatest extent practicable. 8.2 Require new street trees whose growth pattern will achieve a sense of enclosure. 8.3 Improve Three Sisters and Springbrook Creeks, as redevelopment allows. Recognize, protect and enhance the role of the Waluga Tributary to the ecological function of Springbrook Creek and the area's riparian resources. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 36 8.4 Encourage the use of sustainable building and development practices (e.g. recycled or low impact building materials, on-site stormwater retention, pervious paving materials, "green streets"). 8.5 Encourage the use of sustainable street design and stormwater management practices (e.g. "green streets", pervious paving materials). 8.6 Integrate and enhance access to parks and open space (e.g. Springbrook CreeklPennington Park, Waluga Park). The Plan conforms with Goal 8 Protect Natural Resources and Enhance the Natural Environment within the Village Center. It will strengthen Lake Grove's character, enhance quality of life, and promote clean, efficient practices through stewardship of the natural environment, as the street will incorporate sustainable street design and stormwater management practices. IV. ECONOMIC DEVELOPMENT GOAL 9: Support Businesses in the Village Center Create an economically viable business core where neighborhood-serving, independent businesses may flourish, POLICIES 9.1 Retain and attract neighborhood-serving businesses, diverse shopping opportunities and unique cultural attractions. 9.2 Stimulate and support the development of a local business organization to provide marketing and public improvement programs. 9.3 Provide adequate parking opportunities to serve businesses in the Village Center. 9,4 Ensure no net loss of parking facilities within the Lake Grove Village Center when making access modifications to Boones Ferry Road. 9.5 Strengthen connections between the Kruse Way employment area and Village Center retail and service businesses. 9.6 Improve vehicular access between businesses and Boones Ferry Road by requiring connectivity between parking lots and shared access drives where practical. The Plan conforms with Goal 9 Support Businesses in the Village Center. It will create an economically viable business core where neighborhood-serving, independent businesses may flourish as the reconstruction of Boones Ferry Road will stimulate economic development within the Area by providing much improved auto, pedestrian, and bicycle access to businesses within the Area. The road development will provide a visually pleasing atmosphere that will also support future economic development in the Area. Creation of additional parking in the Area will encourage more activity at the businesses in the Area. New development will be guided by the LGVC Plan, which is a component of the Comprehensive Plan. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 37 GOAL 10: Identify and Implement Funding Mechanisms to Sustain Economic Vitality Ensure prosperity by providing for significant public input and review of economic impacts associated with funding mechanisms for public projects and programs. POLICIES 10.1 Provide adequate and sustainable funding mechanisms to implement the Plan. 10.2 Identify the Village Center as a priority investment area. Include plan projects in the Capital Improvement Plan. 10.3 Give funding priority to public area improvements to serve existing businesses and to leverage private investment. 10.4 Analyze estimated costs, benefits and economic impacts associated with proposed funding mechanisms prior to adoption. 10.5 Establish at the outset an extensive, neutral and thorough public process for review and recommendation of potential funding mechanisms prior to adoption. The Plan conforms with Goal 10 Identify and Implement Funding Mechanisms to Sustain Economic Vitality. It will ensure prosperity by providing for significant public input and review of economic impacts associated with funding mechanisms for public projects and programs, as urban renewal is an implementation tool that will help fund key components of the LGVC flan. The costs, benefits, and economic impacts are analyzed as a part of the urban renewal plan and accompanying report. The reconstruction of Boones Ferry Road conforms with the policy of giving funding priority to public area improvements to serve existing businesses and to leverage private investment. The financing strategy that proceeded the urban renewal planning process included a rigorous public process which is described in the Background Section of this flan. Proposed for 7/17/12 City Council Consideration;Lake Grove Village Center Urban Renewal Plan 38 C. Lake Oswego Comprehensive Plan Special Districts Plans The Special District Plans that apply to this Area are the Lake Grove Neighborhood Plan, the Lake Forest Neighborhood Plan and the Waluga Neighborhood Plan. This documentation is taken directly from the findings on the adoption of the Lake Grove Village Center Plan as part of the Lake Oswego Comprehensive Plan. The document is not taken in its entirely, only that which corresponds to the projects being undertaken in the Plan. ECONOMIC DEVELOPMENT/COMMERCIAL LANDS-POLICIES Lake Grove Neighborhood Plan: Goal 9, Economic DevelopmentlCommercial Lands—Policies: 1. Ensure that future improvements to Boones Ferry Road maintain or improve safe access to area businesses for the automobile, transit, pedestrians and bicyclists, while maintaining the function and character of adjacent neighborhood collectors and local 'residential streets. 3. Provide opportunities for mixed-use development to occur in the Lake Grove Commercial District whereby multi-story buildings would accommodate businesses on the ground floor and residential units above. 8. Ensure that the design of new commercial development and required public improvements contribute to the development of a safe and efficient transit and pedestrian environment within the Lake Grove Commercial District. Lake Forest Neighborhood Plan: Goal 9, Economic Development—Policies: 1. Require that future improvements to Boones Ferry Road maintain or improve safe access to area businesses for the automobile, transit, pedestrians and bicyclists, while maintaining the function and character of adjacent neighborhood collectors and local residential streets. Waluga Neighborhood Plan: Goal 9, Economic Development Policies: L Ensure that future improvements to Boones Ferry Road maintain or improve safe access to area businesses for the automobile, transit, pedestrians and bicyclists, while maintaining the function and character of adjacent neighborhood collectors and the local residential streets. 3. Provide opportunities for mixed-use development to occur in the Lake Grove Business District whereby multi-story buildings would accommodate businesses on the ground floor and residential units above. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 39 The Plan conforms with the economic development policies of the Lake Grove, Lake Forest, and Waluga Plans as the Boones Ferry Road concept of the Lake Grove Village Center Plan and part of the Plan propose improvements that will help to manage traffic and enhance the pedestrian environment by creating safer and more numerous pedestrian crossings. The function of neighborhood streets will be maintained by ensuring that Boones Ferry is designed to accommodate projected traffic volumes, thereby avoiding cut through trips into the neighborhoods. The reconstruction of the road will enhance development opportunities within the Area. HOUSING /RESIDENTIAL LAND USE -POLICIES Lake Grove Neighborhood Plan- Goal 10, HousinglResidential Land Use— Policies: 1, Ensure that the scale and character of neighborhood collectors and local streets, which provide access to and within Lake Grove's residential neighborhoods are appropriate to the area served. Especially important are: a. Preservation of trees within street rights-of-way and on adjacent properties to provide tree canopy and shade; k The non-urban design character of local streets including: i, "Skinny Streets"where warranted by traffic, safety and access conditions; ii. No curbs,gutters and sidewalks where alternative storm drainage and safe pedestrian movement can be accommodated by pathways and walkways and the natural drainage system, and; iii. Area for adequate on street parking for residents and their guests which can also provide for safe pedestrian travel. C. The safety and convenience of pedestrians and bicyclists, and; d. Access by emergency vehicles and school buses. The Plan conforms with the housing policies of the Lake Grove and Waluga Neighborhood Plans as the Plan includes street and pedestrian improvement projects that are intended to provide linkages from neighborhoods into the commercial core of the district while respecting the village character of the neighborhood streets. Urban curb and gutter improvements are proposed along Boones Ferry Road. The proposed design for most local and neighborhood streets includes a transition from the urban setting along Boones Ferry to a "country lane" character in the heart of the adjoining neighborhoods. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 40 TRANSPORTATION -POLICIES Lake Grove Neighborhood Plan: Goal 12, Transportation—Policies 3, Construct improvements on Bryant Road, Boones Ferry Road and Kruse Way to ensure their ability to function as major streets and to prevent traffic diversion onto neighborhood collectors and local residential streets. 4. Do not widen Boones Ferry Road for automobile travel lanes or related improvements which would have negative impacts on adjacent commercial land uses such as removal of buildings, pedestrian facilities or parking. Future transportation improvements shall be executed as part of a comprehensive transportation study of Boones Ferry Road to balance automobile access with the need to maintain existing land use patterns and develop a comfortable and safe pedestrian shopping environment. 5. Ensure the ability to walk and bike safely throughout the neighborhood by providing, where practicable, bicycle and pedestrian facilities: • On, at the minimum, one side of all neighborhood collectors and other selected local streets, and • On both sides of major streets (arterials and major collectors). 6. Provide neighborhood residents, business owners, employees and customers greater access to public transit service. . Where practicable require that new development develop shared access to Boones Ferry Road through use of wide consolidated driveways of sufficient width to allow simultaneous ingress and egress and shared parking facilities. Lake Forest Neighborhood Plan: Goal 12, Transportation—Policies: 2. Where appropriate, utilize traffic management devices to prevent speeding and discourage cut-through traffic on local residential streets and neighborhood collectors. On all streets, traffic will be managed to preserve the existing Functional Street Classification, rather than increase the designation to a higher classification. 3. Support the construction of improvements on Major Arterials, such as traffic signal timing, which facilitate the flow of traffic to reduce non-local trips through the neighborhood's local streets. 6. Future transportation improvements on Boones Ferry Road should address the need to balance automobile access with additional opportunities for and safety for alternative modes of transportation such as bike,pedestrian and transit. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 41 7. Ensure the ability to walk safely throughout the neighborhood by providing pedestrian facilities asfollows: • At a minimum, on one side of all neighborhood collectors and other selected local streets; • On both sides of major streets (arterials and major collectors), and 9. Reduce vehicle miles traveled in the Lake Forest Neighborhood by- • Placement and design of new streets which reduce trip length to shopping, transit, schools and parks; • Considering pedestrian and bicycle facilities where appropriate to increase the use of alternative travel modes, and, • Providing for safe and efficient transit streets to encourage the use of public transportation as an alternative to the single occupant vehicle. 12. Provide pedestrian facilities. Pathways, separated from travel lanes with a vegetated buffer, are preferred over sidewalks. Pathways shall meander around significant trees if necessary. On Carman Drive and Boones Ferry Road, a separated pathway is preferred over a shoulder pathway. 13. Provide bicycle facilities on Bangy, Bonita, Carman,Meadows, Boones Ferry and Firwood, between Boones Ferry and Waluga. Those designated roads with speeds of 25 mph. or less and 3000 vehicles per day or less in volume will be shared roadways. Other facilities shall be bike lanes on each side of the travel lane. Waluga Neighborhood Plan: Goal 12, Transportation—Policies: 4. Future transportation improvements should address the need to balance automobile access with the need to maintain the existing land use pattern and develop a comfortable and safe pedestrian shopping environment. 5. Ensure the ability to walk and bike safely throughout the neighborhood by providing bicycle and pedestrian facilities: • At a minimum, on one side of all neighborhood collectors and other selected local streets; • On both sides of major streets (arterials and major collectors); and • Where practicable, sidewalks, pathways and bike lanes that provide contiguous paths between major streets. 10. In accordance with the City Code and where practicable require that new development develop shared access to Boones Ferry Road through use of consolidated driveways of sufficient width to allow simultaneous ingress and egress and shared parking facilities. The Plan conforms with the transportation policies of the Lake Grove, Lake Forest, and Waluga Neighborhood Plans for the following reasons: Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 42 • The Lake Grove Village Center Plan includes projects and standards that will create a transition from urban improvements along Boones Ferry Road to "country lane" improvements on side streets. The side street improvements are intended to strengthen linkages for pedestrians and cyclists traveling to the commercial core of the district. Walkways and pathways are proposed. • Improvements on Boones Ferry Road are intended to accommodate increased traffic volumes to reduce the possibility of neighborhood cut through traffic. Where needed, the City's neighborhood traffic management program and neighborhood enhancement grants can be used to mitigate any unforeseen impacts. • The Boones Ferry Concept flan includes a center median, two travel lanes in each direction,bike lanes, and sidewalks. The concept plan was developed with the intention of minimizing impacts on adjoining commercial development. The resulting improvements are expected to mange access, improve traffic flow, and moderate traffic speeds. In addition, improvements are expected to enhance the pedestrian environment, making it easier to cross Boones Ferry Road and creating more attractive pedestrian walkways along the roadway. • With improved pedestrian access into the district, access to bus transit service is enhanced. • The proposed development code amendments include provisions to limit the distance between driveway access points to no more than 150 feet. With redevelopment, this will require properties to consider joint access. • The plan includes proposed pedestrian and bike facilities along all arterials and collector level streets. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 43 D. Lake Oswego Economic Development Strategy There are four identified strategies in the Lake Oswego Economic Development Strategy: Strategy 1:Market Lake Oswego Marketing Lake Oswego to both internal and external audiences is a high priority of participants in strategy work sessions. The goal of marketing would be multi faceted-- to attract customers to shop and dine in Lake Oswego, to encourage tourism, and to position Lake Oswego as a great place to locate a business, thus supporting commercial leasing efforts. Action items include development of a marketing strategy, budget, and fundinglimplementation plan,followed by implementation. While the Plan does not directly address any of the action items specified in Strategy, the Plan conforms with Strategy 1 Market Lake Oswego as the major infrastructure projects in the Plan will help create a vibrant community in the Lake Grove Village Center Area, which will enhance the ability to market the Area. Strategy 2: Leverage quality of life and place Lake Oswego's quality of life and place are economic strengths that attract and retain residents, businesses, and visitors. There is potential to build on this strength by continuing to improve the City's infrastructure and create great places and events that nurture and support community and business. This strategy encompasses a diverse set of action items, including: -Foothills redevelopment - Streetcar extension -North Anchor project at 1st and B -Downtown parking analysis and potential code changes and parking projects -Arts programming and events -Actions to implement the Lake Grove Village Center Plan The Plan conforms with Strategy 2 Leverage Quality of Life and Place as the projects identified in the Plan will partially implement the Lake Grove Village Center Plan. Strategy 3:Provide exemplary City service to business Focus groups and stakeholder interviews indicate concerns that City regulations and permitting are barriers to economic development. Making the City government more business friendly is a high priority. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 44 Action items include development of a strong Business Solutions Team, improving City regulations and permitting,facilitating development projects, welcoming new businesses, developing demographic and economic data, and building and leveraging partnerships with the business community. The Plan conforms with Strategy 3 Provide Exemplary City Service to Business as the reconstruction of Boones Ferry Road and providing parking improvements in the Area will help build partnerships with the business community and will facilitate development projects. Strategy 4:Retain and recruit businesses Another high priority is supporting and growing existing businesses and recruiting new businesses to serve community needs, complement neighboring uses,and fill vacant commercial space. Action items include outreach to businesses to learn more about business needs, participation in the Clackamas County Strategic Investment Zone incentive program, communication of available business resources, an economic gardening pilot project, business training, and targeted recruitment. Actions also include study of a potential business incubator and additional incentive programs. While the Plan does not directly address any of the action items specified in Strategy 4 Retain and Recruit Businesses, the reconstruction of Boones Ferry Road and provision of parking will help to both retain and recruit businesses in the Area. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 45 APPENDIX A: LEGAL DESCRIPTION A tract of land located in the southeast quarter of Section 6, the east half of Section 7, the west half of Section 8 and the northeast quarter of Section 18, all within Township 2 South, Range 1 East, of the Willamette Meridian, City of Lake Oswego, County of Clackamas, State of Oregon; more particularly described as follows: Beginning at the most southerly corner of Parcel 2, Partition Plat 2007-004 (Plat records of Clackamas County); said point being on the northwesterly right of way line of Boones Ferry Rd (Market Rd No. 13); thence northeasterly along said right of way line to the most easterly corner of Parcel 3, Partition Plat 2007-004; thence crossing Washington Ct (County Rd #1009, AKA Upper Dr), northerly, 100 feet, more or less, to the point of intersection of the north right of way line of Washington Ct and the west line of Lot 166, BRYANT ACRES PLAT 3 (Plat#442); thence northerly along said west line to the northwest corner of said Lot 166; thence northerly along the west line of Lot 178, BRYANT ACRES PLAT 3, 35.00 feet to the northwest corner of that parcel described in Clackamas County deed #2005-01959 (Grantee: Renaissance Ventures LLC); thence easterly along the north line of said Renaissance Ventures LLC parcel to a point on the east line of said Lot 178; thence northerly along said east line and projection thereof, crossing West Sunset Dr, to a point on the north right of way line of West Sunset Dr; thence easterly along said right of way line 132.00 feet, to a point on the east line of said Lot 187; thence northerly along said east line to the northeast corner of said Lot 187; thence easterly along the north line of Lot 186, BRYANT ACRES PLAT 3 to the northeast corner thereof; said point also being the northwest corner of Partition Plat 2003-045; thence easterly along the north line of said partition to the northeast corner thereof; thence southeasterly along the northeast line of said partition, and projection thereof, to a point on the northwesterly right of way line of Boones Ferry Rd; thence northeasterly along said right of way line 142 feet, more or less, to the intersection with the southeasterly projection of the southwesterly line of Parcel 2, Partition Plat 009-073; Proposed for 7/17/12 City Council Consideration:Fake Grove Village Center Urban Renewal flan 46 thence northwesterly along said projection and southwesterly line of said Parcel 2 to the northerly southwest corner thereof; thence northerly along the west line of said Parcel 2 to the northwest comer thereof; thence easterly along the north line of said Parcel 2 to the northerly southwest comer of Parcel 1, Partition Plat 2009-073; thence northerly along the west line of said Parcel 1 and the projection thereof, crossing Madrona St(County Rd #1708), to the north right of way line of Madrona St; thence easterly along said right of way line and projection thereof, crossing Waluga Dr (County Rd #2143, AKA Bryant Way), to the east right of way line of Waluga Dr; thence southerly along said right of way line to an angle point and intersection with the northeasterly right of way line of Madrona St; thence southeasterly along said northeasterly right of way line to the northwesterly right of way line of Boones Ferry Rd; thence northeasterly along said right of way line 240 feet, more or less, to a point on the west line of Lot 158, BRYANT ACRES, TRACTS 128 TO 159, INCLUSIVE (Plat # 433); thence northerly along said west line to the northwest corner of said Lot 158; thence easterly along the north line of said Lot 158 to the northeast comer of that parcel described in Clackamas County deed #2011-065991 (Grantee: Arlene Douglass); thence southerly along the east line of said Douglass parcel to the northwesterly right of way line of Boones Ferry Rd; thence northeasterly along said right of way line 279 feet, more or less, to the most easterly comer of that parcel described in Clackamas County land sale contract #88- 015028 (Purchaser: Dr. Donald Palmer); thence northwesterly along the northeast line of said Dr. Donald Palmer parcel to the southwest comer of Lot 155,BRYANT ACRES, TRACTS 128 TO 159, INCLUSIVE; thence northerly along the west line of said Lot 155 to the southwest comer of that parcel described in Clackamas County deed #91-008519 (Grantee: Craig Terjeson and Barbara Martin); thence easterly along the south line of said Terjeson/Martin parcel to the southeast comer thereof; thence northerly along the east line of said Terjeson/Martin parcel, and the projection thereof, crossing Firwood Rd (County Rd #1829), to the north right of way line of Firwood Rd; Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 47 thence easterly along said right of way line 36 feet, more or less, to a point on the east line of Lot 148, BRYANT ACRES, TRACTS 128 TO 159, INCLUSIVE; thence northerly along the east line of said Lot 148 to the northeast corner thereof; thence westerly along the north line of said Lot 148 to the northwest corner thereof; said point also being the southeast corner of Lot 138, BRYANT ACRES, TRACTS 128 TO 159, INCLUSIVE; thence northerly along the east line of said Lot 138 to south right of way line of Oakridge Rd (County Rd #1649); thence westerly along said right of way line to a point on the west line of said Lot 138; thence northerly, crossing Oakridge Rd, along said west line of Lot 138 and continuing northerly along the west line of Lot 133, BRYANT ACRES, TRACTS 128 TO 159, INCLUSIVE to the northwest corner thereof, said point being on the north line of BRYANT ACRES, TRACTS 128 TO 159, INCLUSIVE; thence easterly along said north line and projection thereof, crossing Quarry Rd, 992 feet, more or less, to the southeast corner of Lot 3,Block 1,LAKE GROVE ACREAGE ESTATES (Plat#640); thence northerly along the east line of said Lot 3 and projection thereof 416 feet, crossing Beasley Way, to the northwest corner of Lot 7, Block 2, LAKE GROVE ACREAGE ESTATES; thence easterly along the north line of said Lot 7 and Lot 8, Block 2, LAKE GROVE ACREAGE ESTATES;said point also being the southwest corner of Lot 12, Block 2, LAKE GROVE ACREAGE ESTATES; thence northerly along the west line of said Lot 12 and projection thereof, crossing Douglas Way, to the north right of way line of Douglas Way; thence easterly along said right of way line 480 feet to the southeast corner of Lot 30, Block 3, LAKE GROVE ACREAGE ESTATES; thence northerly along the east line of said Lot 30 and projection thereof 445 feet, crossing Collins Way, to the southeast corner of Lot 14, Block 4,LAKE GROVE ACREAGE ESTATES; thence westerly along the south line of said Lot 14 to the southwest corner thereof; thence northerly along the west line of said Lot 14 and projection thereof 310 feet, to the southeast corner of Lot 12, Block 5, LAKE GROVE ACREAGE ESTATES; thence westerly along the south line of said Lot 12 and projection thereof 480 feet, to the southwest corner of Lot 5, Block 5, LAKE GROVE ACREAGE ESTATES; Proposed for 7/17/12 City Council Consideration:Labe Grove Village Center Urban Renewal Plan 48 thence northerly along the west line of said Lot 5 and projection thereof 310 feet, to the southwest corner of Lot 5, Block 6, LAKE GROVE ACREAGE ESTATES; thence easterly along the south line of said Lot 5, (Block 6) to the southeast comer thereof; thence northerly along the east line of said Lot 5, (Block 6) to the south right of way line of Galewood St (County Rd #2179, AKA Rees Rd); thence westerly along said right of way line and projection thereof 865 feet, more or less, crossing Quarry Rd, to a point on the southwest right of way line of Quarry Rd; thence northwesterly along said right of way line 230 feet, more or less, to the east right of line of Carman Dr (Market Rd #31, AKA Upper Boones Ferry Rd); thence northwesterly 108 feet, more or less, crossing Carman Dr, to the most northerly, northeast corner of Parcel 1, Partition Plat 1998-037; said point being on the south right of way line of Meadows Rd (County Rd #L-034); thence northwesterly along said right of way line 443 feet, more or less, to a point on the west line of said Partition Plat 1998-037; thence northerly along said west line and projection thereof 612 feet, more or less, crossing Kruse Way, to the north right of way line of Kruse Way; thence easterly along said right of way line and projection thereof 770 feet, more or less, crossing Carman Dr to the point of intersection of the east right of way line of Carman Dr and the north line of Lot 279, BRYANT ACRES No. 4 (Plat #591); thence easterly along said north line of Lot 279 to the northeast comer thereof; said point also being on the west line of THE FOREST CONDOMINIUM STAGE TWO (Plat #3359); thence southerly along said west line 185 feet, more or less, to the southwest comer of said plat; thence easterly along the south line of said plat and projection thereof 291 feet, more or less, to the southeast comer of THE FOREST CONDOMINIUM STAGE ONE (Plat #3331); said point also being the northeast comer of that parcel described in Clackamas County deed #80-024242 (Grantee: Safeco Insurance Company of America); thence southerly along the east line of said Safeco Insurance Company of America parcel 247 feet, more or less, to the northeast right of way line of Kruse Way; thence southeasterly along said right of way line 643 feet, more or less, to a point in the west line of LAKE GROVE ACREAGE ESTATES PLAT No. 2 (Plat#690); thence northerly along said west line 316 feet, more or less, to the north right of way line of Kruse Way PI; Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 49 thence easterly and southeasterly along said right of way line 930 feet, more or less, to a point on the east right of way line of Davis Ln (now vacated); thence southeasterly 180 feet, more or less, crossing Boones Ferry Rd, to the most westerly corner of Tract A, BOONES BROOK(Plat#2120); said point being on the north right of way line of Spring Ln; thence along said right of way line 169 feet, more or less, to a point which is 50.00 feet northeast of and radial to said right of way from the most northerly comer of SPRING CREEK CONDOMINIUMS (Plat#2533); thence southwesterly 50.00 feet, crossing Spring Ln, to said most northerly comer; thence southwesterly along the west line of SPRING CREEK CONDOMINIUMS the following courses: South 75' 11' 46" West, 50.65 feet; South 27' 34' 11" West, 128.19 feet; South 59'45' 16" West, 61.77 feet; South 34' 13' 17" West, 65.12 feet; South 04' 36' 40" East, 29.41 feet; South 30'42' 00" West, 90.07 feet to the southwest corner of said plat; said point also being on the north line of RIVENDELL ESTATES (Plat#2535); thence easterly along said north line 78 feet, more or less, to the northeast comer of Tract A, RIVENDELL ESTATES; thence southerly and westerly along the easterly line of said Tract A the following courses: South 00' 28' 00" West, 41.26 feet; South 37' 07 36" West, 88.36 feet; North 67'22' 19" West, 74.28 feet; South 37' 13' 01" West, 64.36 feet to the most northerly corner of Parcel 2, Partition Plat 1992-143; thence southeasterly along the northeast line of said Parcel 2, South 41' 26' 00" East, 104.18 feet to an angle point; thence easterly along the north line of said Parcel 2 and projection thereof, South 88' 39' 48" East, 89 feet, more or less, to the east right of way line of Boones Way; thence southerly along said east right of way line 532 feet, more or less, to the south right of way line of Red Cedar Way (County Rd #2295, AKA Main St, 50 feet wide); said point also being on the north line of MARCOURT (Plat#2699); thence westerly along said south right of way line 201.48 feet to the northwest corner of said MARCOURT; said point also being on the east line of Lot 5, Block 3, GUNTHER'S LAKE GROVE HOMES (Plat#617); thence southerly along said east line to the southeast corner of said Lot 5; thence westerly along the south line of said Lot 5, to the southwest corner thereof; Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 50 thence southerly along the west line of Lot 2, Block 3, GUNTHER'S LAKE GROVE HOMES to the north right of way line of Lanewood St(County Rd #2151, AKA Lake Grove Dr); thence easterly along said right of way line 64.5 feet, more or less, to the intersection with the northerly projection of the east line of Lot 7, Block 1, GUNTHEWS LAKE GROVE HOMES; thence southerly along said projection and east line to the north line of LAKE VIEW VILLAS (Plat#339); thence westerly along said north line 56 feet, more or less, to the northwest comer of that parcel described in Clackamas County deed #96-085684(Grantee: Robert Pastore and Rebecca Holland); thence southerly along the west line of said Pastore/Holland parcel and projection thereof, crossing Lake Grove Ave to a point on the south right of way line thereof; thence westerly along said south right of way line to the northeast corner of 3930 CONDOMINIUM(Plat#2452); thence along the boundary of said 3930 CONDOMINIUM the following courses: South 25' 18' 27" East, 185.37 feet to the southeast corner thereof; South 64' 42' 00" West, 93.87 feet to the most southerly corner thereof; North 25' 18' 00" West, 57.75 feet to an angle point thereof; South 64' 42' 00"' West, 45.00 feet to an angle point thereof; said point also being the southeast comer of that parcel described in Clackamas County deed #2006- 094884 (Grantee: David H. Ligare); thence westerly along the south line of said Ligare parcel and projection thereof to a point on the west right of way line of Reese Rd; thence northerly along said west line 62 feet, more or less, to a point on the north line of Lot 100, LAKE VIEW VILLAS; thence southwesterly along said north line and the north lines of Lots 99, 98, 97, 96, 95, and 94, LAKE VIEW VILLAS to the northwest comer of said Lot 94; thence southerly along the west line of said Lot 94 and the projection thereof to a point on the south right of way line of Sunset Dr; thence westerly along said south line 306 feet, more or less, to the east right of way line of Bryant Rd; thence southerly along said east line 121 feet, more or less, to the intersection with the easterly projection of the south line of Lot 21, BRYANT ACRES (Plat #383); thence westerly, crossing Bryant Rd, along said projection and south line of Lot 21 to the east line of Lot 20, BRYANT ACRES; Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 51 thence northerly along said east line to the northeast comer of said Lot 20; thence westerly along the north line of said Lot 20 and the north line of Lot 19, Bryant Acres to the southeast comer of Lot 7, BRYANT ACRES; thence northerly along the east line of said Lot 7 to the southeast right of way line of Boones Ferry Rd; thence southwesterly along said right of way line 397 feet, more or less, to the east line of Lot 10, BRYANT ACRES; thence southerly along said east line to the southeast corner of said Lot 10; thence westerly along the south line of said Lot 10 to the northeast comer of Lot 14, BRYANT ACRES; thence southerly along the west line of said Lot 14 and projection thereof, crossing Upper Dr, to a point on the south right of way line of Upper Dr; thence westerly along said right of way line 225 feet, more or less, to the point of intersection with the southerly projection of the east line of that parcel described in Clackamas County deed #72-034764 (Grantee: Grant A. Chamberlin and Wan to M. Chamberlin); thence northerly along said projection and the east line of said Chamberlin parcel to the northeast comer thereof; thence westerly along the north line of said Chamberlin parcel to the northwest comer thereof; said point being on the east line of Lot 12, BRYANT ACRES; thence northerly along said east line to the southeast right of way line of Boones Ferry Rd; thence southwesterly along said right of way line to a point on the west line of said Lot 12; thence southerly along said line and projection thereof, crossing Upper Dr, to a point on the south right of way line of Upper Dr; thence westerly along said right of way line 173 feet, more or less, to the point of intersection with the east line of Lot 35, BRYANT ACRES; thence southerly along said east line and projection thereof 181.4 feet to a point on the south line of a 6 foot wide pathway as shown on the plat of BRYANT ACRES; thence westerly along said south pathway line 763 feet, more or less, crossing Boones Ferry Rd, to the point of intersection with the southerly projection of the west line of Partition Plat 2007-004; thence northerly along said projection 13.44 feet, to the point of beginning. Proposed for 7/17/12 City Council Consideration:Lake Grove Village Center Urban Renewal Plan 52 i �„ wPw"' Y gyp rd REPORT AcCOMPANYING LAKE GROVE VILLAGE CENTER URBAN RENEWAL PLAN s ?t k„, �£ F r A —1— + w. „r r:, f �w 't t f f '�f y F��?'fa � X•fi �xMY' { l� rm (�+lr "`? $f r r ;ffJ `f r a ft£, £ s� Proposed for(,-'ity CouncilConsiderationon July 1.7, 2012. Prepared for the City of Lake Oswego 7/1.7/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 1 City of Lake Oswego Mayor: Jack D.Hoffman City Council: Jeff Gudman Donna Jordan Mike Kehoe Sally Moncrieff Mary Olson Bill Tierney Planning Commission Chair: Jon Gustafson Vice Chair: Puja Bhutani Bill Gaar Julia Glisson Jim Johnson Todd Prager Sally Moncrieff,Council Liaison City Manager: David Donaldson Assistant City Manager: Brant Williams Finance Director: Ursula Enter Assistant Planning Director: Denny Egner, Economic Development Manager: Jane Blackstone City Engineer: Guy Graham, P.E. Assistant City Engineer: Erica Rooney Administrative Assistant Anne-Marie Simpson Urban Renewal Plan Focus Group: Linda Brown,Lake Oswego School District Joe Buck,Lake Grove Business Association Mike Buck, Lake Grove Business Association Trudy Corrigan,Lake Grove Resident Julia Glisson, Lake Oswego Planning Commission Chuck O'Leary,Lake Oswego Chamber of Commerce Ken Sandblast,Lake Grove Business Association Mary Turnock,Lake Grove Resident Cheryl Uchida,Lake Grove Resident Consultant Team Elaine Howard Consulting,LLC Elaine Howard James Vanden Bos Leslie Vanden Bus, Editor ECONorthwest Abe Farkas, Lorelei Juntunen Nick Popenuk,Whit Perkins, Emily Picha Jeannette Laurier, Legal Counsel 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 2 TABLE OF CONTENTS I. INTRODUCTION...........................................................................................................4 11. EXISTING PHYSICAL, SOCIAL,AND ECONOMIC CONDITIONS AND IMPACTS ON MUNICIPAL SERVICES.........................................................................6 PHYSICALCONDITIONS..........................................................................................................6 INFRASTRUCTURE:ExiSTING CONDITIONS...........................................................................9 SOCIALCONDITIONS............................................................................................................21 ECONOMICCONDITIONS......................................................................................................24 IMPACT ON MUNICIPAL SERVICES.......................................................................................25 III. REASONS FOR SELECTION OF EACH URBAN RENEWAL AREA IN THE PLAN.....................................................................................................................................26 IV. THE URBAN RENEWAL PROJECTS AND THE RELATIONSHIP BETWEEN URBAN RENEWAL PROJECTS AND THE EXISTING CONDITIONS IN THE URBAN RENEWAL AREA...............................................................................................26 V. THE ESTIMATED TOTAL COST OF EACH PROJECT AND THE SOURCES OF MONEYS TO PAY SUCH COSTS............................................................................27 VI. THE ANTICIPATED COMPLETION DATE FOR EACH PROJECT...............28 VII. THE ESTIMATED AMOUNT OF TAX INCREMENT REVENUES REQUIRED AND THE ANTICIPATED YEAR IN WHICH INDEBTEDNESS WILL BE RETIRED.............................................................................................................30 VIII. FINANCIAL ANALYSIS OF THE PLAN............................................................34 IX. IMPACT OF THE TAX INCREMENT FINANCING..........................................38 X. COMPLIANCE WITH STATUTORY LIMITS ON ASSESSED VALUE AND SIZE OF URBAN RENEWAL AREA...............................................................................42 XI. RELOCATION REPORT................... ......................................................................42 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 3 Figure 1 -Lake Grove Village Center Urban Renewal Plan Area Boundary � r i w � � � l a t zx � ✓;-sFi'r .� t��'�'�rff`z �r 'sfif33z �� z � y� r ,�Frx rur {yr, �� Y >�#.rrzrir a c fi fi xr� �`a y sx x rt -».w OR- n Rea�9�Y�1l Area ta'�tr r'�r"��;,, 'z` �, '� p ,��'�r r� �� ✓7�k�>i"�`���4 � r, r r r�it r wasMIN zrezrr`'`^ r. ECOM o r egOMWXA, rrx z + ry ,,. Zn Al 41 fj Jr Yt,,. 1s�f x� �.x5 r of r u r' ar§esYz r z am �x �z t NINE� xx r '' rtr '� � ��'''�/%�rr�ff'z4,rz:•�'z'x i i �,r �' �' '„ �Y� '� z�� Jf riT: fr '_ t l p lr r r , i 1h�Y Y Mr� u. r u r rt s F r 3 y kS � r� # axzZ 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 5 . ExiSTING PHYSICAL, SOCIAL., CONDITIONS C I ISERVICES This section of the Report describes existing conditions within the Lake Grove Village Center Urban Renewal Area (Area), and documents the occurrence of "blighted areas," as defined by ORS 457.010(1). Physical iti s Land Use According to data from the Clackamas County Assessor's Office, the Area, shown in Figure 2 below, contains 250 parcels excluding duplicate parcels for apartments and condominiums, and consists of 123.4 acres in tax lots and 35.9 acres of right-of- way, for a total size of 159.3 acres. An analysis of property classification data from the Clackamas County Assessment and Taxation database was used to determine the land use designation of parcels in the Area. Within the Area, the largest use of land is commercial (60.90% of total acreage). Following this, and demonstrating the underutilization of the Area, the largest land use category is vacant land (14.37%). In the Assessor's data,41 of the vacant parcels in the Area are in Trillium Woods and are either currently developed, under construction or planned for development. This accounts for 3.89 acres. To accurately reflect this information, this acreage and the tax lots were moved from Vacant to the Single Family Residential use in the table below. Table 1 -Existing Land Use of Area Co rn rraal 99 751+ 60 90% Vacant 34 17 7 14 37%a , M, ,. ,�... . F Residential 7 15 2' 12 1% „ .n. ; ; _ .,,N.. .. ,..'q MP Resrdentxal 39 9 0 7 32°l0 School 1 N,.. 6.36 m. 5.10°fg,v Total 252 123.4 100.00% Source.Clackamas County Assessor data 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 6 Figure 2--Zoning and Comprehensive Plan ]Designations SI"rs S f at n s z Si s t rt tx,x� £ t- x r �-A 'M, o p"` "I q, rat A n r R&D��"^"""'m' x 6 Pt . r � } a >�� ae r �s g. 1 a a r fw y� #��y p�..L�+y R6 0 M SP 'S �-thwe " tWes �x �r a � Nk t`r" 01 1��� „�x S� a ✓r {,rc�t�.a �� �' ' t s t �at tr i r —Z1111 r t f t£ a rr r s r t a r sa x WIxa t t r""ka r rr T sa tfi�1 as h3Ar r r. 3 t iz at a r l k�irr'= Zoning and Contprehensive Plan Designations In the Area, the zoning cede designations and the comprehensive plan designations are the same. The zoning code implements the comprehensive plan, regulates land use throughout the city and defines development standards within established 7/17/12 proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan zones. Data for this analysis was taken from the city of Lake Oswego Geographic Information System(GIS) and varies slightly from the data base from the Clackamas County Assessor shown in Table 1. As illustrated in Table 2, the largest portion(49.54%) of the Area is zoned as General Commercial. This is followed by Office Campus,which is approximately 9.92% of the Area. All combined, residential zones or combinations of zones that include residential usages comprise 19.67% of the Area and commercial, office and campus research zones or zone combinations including office and commercial comprise 75.71% of the Area. Table 2- Existing Zoning/Comprehensive Plan Designations of Area 1pi 1 1 1 111 4 Wil—MMI General Commercial 88 6113 49.54 ID/O Office Campus 10 12.24 9*92% Public Function 4 10.4 8 43% Residential R-0 19 5.81 4.71% ........... C rnpusRs 2 5A6 Park and Natural Area 14 5.3 4. Residential R-5 44 4.94 4.00% CampusOffice R-2.5 9 4.7 3.81% Office Campus Neighborhood Commercial 13 4.59 172% '_Nei hborhood Commercial R-0 25 3.38 2.74% Residential R-7.5 3 1.1 0.89% 1 r. .................. ......... Office Campus/R-3 2 1.93 1.56%Residential R-2.5 15 1.61 130% Residential R-3 4 0.81 0.66% .............. 4 Total 252 123.4 100PPOA] Source.City of Lake Oswego and Clackamas County Assessment Data 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 8 Infrastructure: Existing Conditions An existing conditions analysis is one way of identifying blight within an urban renewal area. When describing the existing conditions of infrastructure within an urban renewal area,the current best practice is to pull that information from existing plans for the area, such as the capital improvement plan, comprehensive plan, or various master plans if there is no current capital improvement plan. These plans represent a significant amount of research and labor, and contained within these plans are lists of projects to address deficiencies that were identified within the Area. This Report will use the project lists from some of the various plans listed above to describe the existing conditions and various deficiencies within the Area. This does not mean that the projects identified in this existing conditions analysis are all projects to be funded by the Plan. The projects to be funded in the Plan are the reconstruction of Boones Ferry Road and parking,which are described in the Lake Grove Village Center Urban Renewal Plan and later in this Report in the section titled, "The Urban Renewal Projects and the Relationship Between Urban Renewal Projects and the Existing Conditions in the Urban Renewal Area." Transportation The backbone of the Area is its two Major Arterials, Boones Ferry Road and Kruse Way. The area surrounding them is interlaced with smaller roads, parks, pathways, and sidewalks, some of which are sufficient for their purposes,but most of which require upgrades to bring them in line with various plans for the future of the Area. The following sections will outline the projects and improvements scheduled for the Area by Lake Oswego plans, including the 2012/13 Lake Oswego Capital Improvement flan(LOCIP) and the Lake Grove Village Center Plan.(LGVC Plan). Sidewalks Boones Ferry Road and Kruse Way both have sidewalks throughout the Area., but the overall effectiveness of the pedestrian transportation system needs improvements. There are two major deficiencies identified by the LGVC Plan, which, if addressed,would greatly improve pedestrian access. The first is that, even though sidewalks exist along portions of the arterials, there is a distinct lack of neighborhood connections to the Area. It is proposed that sidewalks or pathways be added to arterial and collector roadways to enhance connectivity. This would encourage pedestrian travel not just within the Area,but to the Area as well. The second deficiency is that there are too few pedestrian crossings along Boones Ferry Road within the Area. There are only four marked and controlled crosswalks, meaning that pedestrians have to walk more than a quarter of a mile, on average, to reach a crosswalk. This situation encourages illegal crossings and discourages pedestrians on one side of the road from visiting businesses on the other side of the road. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan The pedestrian improvements, as detailed in the LGVC Plan, are shown in Table 3, 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 10 Table 3—Projects from the LGVC Plan--On-Street Pedestrian Improvements Kruse Way between Daniel Enhanced multi.-use pathway High Way/Mercantile Drive& with"Village Gateway" Boones Ferry Read streetscae treatment Boones Ferry Road between Enhanced sidewalk with High Kruse Way Place& "Village Gateway" streetscape Mercantile Drive treatment Galewood/Quarry along Urban Curb&Gutter Low curve at west end Mercantile Drive complete Urban Curb&Gutter Medium west/south side and all of east/north side Douglas Way both sides at Urban Curb&Gutter High commercial zone Douglas Way west of Residential(meandering)Path High commercial zones Lanewood Street north and Urban Curb&Gutter Medium south to complete at complete at commercial,zone commercial zone Quarry Road north of Residential(meandering)Path Medium Oakridge Quarry Road south of Urban Curb&Gutter Medium Oakridge Oakridge Road west of Residential(meandering)Path Low Quarry north&south Oakridge Road east of Urban Curb&Gutter Medium Quarry north&south Reese Road west side at Urban Curb&Gutter Medium commercial zone Lake Grove Avenue north Urban Curb&Gutter Lc w side at commercial zone Bryant Road Urban Curb&Gutter High Bryant Road Residential(meandering)Path High Madrona north/east side Urban Curb&Gutter Low Source:Lake Grove Village Center Plan Bike Facilities Bicycle facilities are provided along two segments of read (on Boones Ferry Road, between Kruse Way and Mercantile Drive and a southbound lane on the west side 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan of Bryant Road near the Labe Grove Shopping Center) in the Area. This means that on all other sections of road,bicyclists must share the road with motorists. The LGVC Plan calls for improvements to bike facilities (mainly the creation of bike lanes). The bicycle projects in the LGVC Plan are shown in Table 4. Table 4—Projects from.the Lake Grove Village Center Plan—Bike Facilities Boons Ferry Bike Lanes See also Transportation Road Project 1,Boones Ferry Corridor Improvements Kruse Way Enhanced multi-use High between Daniel pathway with"Village Way/Mercantile Gateway" streetscape Drive&Boones treatment.Bicycles one Ferry Road direction each side of Kruse Way. Quarry Road Bikeways Low Bryant Road Bikeways Low Source:Lake Grove Village Center Plan Streets and Intersections Major Arterials Kruse Way and Boones Ferry Road handle the majority of the traffic load within the area. Connecting these streets to local neighborhoods are Major Collectors Carman Drive and Bryant Road. Serving as connecting streets with lower traffic loads,Oakridge Road,Quarry Road, Firwood Road, Ruse Road, and Lake Grove Avenue are the Neighborhood Connectors in the Area. The remaining streets are classified as"local." These streets are currently functional, but have a number of deficiencies that the 2012/13 LOCIP and the LGVC Plan seek to remedy. The LGVC Plan does not assign costs to its recommended projects, but the LOCIP has an estimate of $3 ,046,000 for projects in the Area. These projects are listed below. The projects from the LGVC Plan are shown in Table 5. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 12 Projects from the 201W13 Lake Oswego Capital Improvement Plan Lipper Boones Ferry Rehabilitation Project Estimate from LOCIP: $1,046,000 Project Description: This project will repave the roadway on Boones Ferry Road and Kruse Way to the Lake Oswego/Portland city limit. This project will not pave the area known as the Lake Grove Town Center. Relation to Area: This project will repave the small section of Boones Ferry Road that extends north of its intersection with Kruse Way but is still in the Area boundary. Boones Ferry Road Improvements-Phase 1 Estimate from LOCIP: $25,000,000 Project Description: The Lake Grove Village Center Plan includes a project to improve Boones Ferry Road. Phase 1 of the Boones Ferry Road Project will pave from Madrona to Oakridge/Reese Way. The project includes bikeways, sidewalks, a center median, green street features,and intersection improvements. Relation to Area: This project will improve a portion of Boones Ferry Road that is left out of the Boones Ferry Road Rehabilitation Project. The project will upgrade Boones Ferry beyond a standard Minor Arterial and create a corridor that is more pedestrian friendly,more aesthetically pleasing, and more sustainable. Boones Ferry Road Improvements-Phase Estimate from LOCIP: $9,000,000 Project Description: The Lake Grove Village Center Plan includes a project to improve Boones Ferry Road. Phase 2 of the Boones Ferry Road Project will pave from Oakridge J Reese to Kruse Way. Relation to Area: This project will improve the remaining portion of Boones Ferry Road that is left out of the Boones Ferry Road Rehabilitation Project. The project will upgrade Boones Ferry beyond a standard Minor Arterial and create a corridor that is more pedestrian friendly,more aesthetically pleasing, and more sustainable. 7f 17/12 Proposed Report Accompanying Lake Grove village Center Urban Renewal Plan 13 Table 5—Projects from the Lake trove Village Center Plan—Street Improvements o Boones Ferry Boones Ferry Toad corridor High Road between improvement including signals, Kruse Way and intersection improvements,mid- adrona Street block pedestrian crossings, landscaped medians,bike lanes,and pedestrian amenities. Mercantile Intersection Improvements-Existing Low Intersection signal Lanewood Intersection Improvements-New Medium' Intersection signal '+ Reese-Oakridge Intersection Improvements-Existing High Intersection signal Between Reese Intersection Improvements-New High and Bryant signal Bryant-Firwood Intersection Improvements-Existing Medium Intersection signal Between Bryant Intersection Improvements-New Low and Madrona signal Hallmark Drive Festival street treatment including between curbless sidewalks,bollards,special Mercantile Drive paving and landscaping, and Douglas Way .. Source:Lake Grove Village Center Plana Pathways Neighborhood connections to Boones Ferry Road in the Area are lacking. To create a safe and inviting pedestrian network, the 2012/13 LOCIP and the LGVC flan identified a number of projects in the Area. The Lt VC flan does not assign costs to its recommended projects, but the LOC P established a budget of$1,377,000 for projects in the Area. Some of these projects are not entirely in the Area, but a portion is in the Area. These projects are listed below, 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban.Renewal Plan 14 Projects from the 2012/13s it l Improvement Plan Bryant Road Bike Lanes and Pathway Estimate from LOCIP: $636,000 Project Description: This project adds bike lanes and pathways from Childs Road to Boones Ferry Road, The total cost of the regional project is estimated at $6,360,000. This project is contained in Metro's 2035 Regional Transportation Plan. If grants and regional funding are approved in the future, then the cost to Lake Oswego is estimated at 10% of the total project cost. Relation to Area: This project will improve Bryant Road,whose northernmost portion enters the Area and then connects to Boones Ferry Road. Douglas Way Pathway Estimate from LOCIP: $31,000 Project Description: This project would complete a 00-foot section of missing sidewalk to connect up with the existing sidewalk from Boones Ferry to Lake Grove Elementary School. Relation to Area. This entire project falls within the Area. Creating this pathway will enhance pedestrian mobility and will help bring the Area in line with the visions of the governing plans, Firwood Road;Neighborhood Pathway Estimate from LOCIP: $380,000 Project Description: This project includes a 2,500-foot long, 5-foot wide asphalt pathway. The City would need to acquire right-of-way and remove large Douglas Fir trees to implement this pathway. Priority of this pathway is based on acquiring road authority for part of this project from Clackamas County. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 15 Relation to Area: The easternmost portion of this project lies within the Area. Creating this pathway will enhance pedestrian mobility and will help bring the Area in line with the visions of the governing plans. Mercantile Drive Local Pathway Estimate from LOCIP: $60,000 Project Description: This project consists of two 400-foot long,5-foot wide concrete sidewalks between Boones Ferry Road and Hallmark Drive. Relation to Area: This entire project falls within the Area. Creating this pathway will enhance pedestrian mobility and will help bring the Area in line with the visions of the governing plans. Lanewood St-Douglas Circle Pathway Estimate from LOCIP: $270,000 Project Description: This project includes a 2,100 ft long,5 ft wide sidewalk/pathway that would run along Lanewood St and Douglas Circle between Twin Fir Road and Boones Ferry Road Within the Lake Grove Village Center boundary,the improvements shall be made as concrete sidewalks on both sides of the street. Outside of the center an asphalt pathway is proposed. The area has very few physical issues and is in the Lake Grove Elementary School walking route. Relation to Area: The westernmost portion of this project lies within the Area. Creating this pathway will enhance pedestrian mobility and will help bring the Area in line with the visions of the governing plans. Carman Dr- Kruse Way to 1-5 Estimate from LOCIP: $790,000 Project Description: This project encompasses adding bike lanes, sidewalks and/or pedestrian pathway from Kruse Way to Carman Dr (1.2 miles). The project priority,funding and selection is subject to transfer of road from Clackamas County to the City of Lake Oswego. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 16 Relation to Area: The north-easternmost portion of this project lies within the Area. Creating this pathway will enhance connectivity and pedestrian mobility and will help bring the Area in line with the visions of the governing plans. Lake Grove Village Center Improvements Estimate from LOCIP: $8,800,000 Project Description: The Lake Grove Village Center Plan includes a variety of projects intended to improve pedestrian, bicycle and vehicular access within the Village Center. The plan also includes improvements to parks and public open spaces. This CIP project is intended to fund these projects. Individual projects will be selected based on a set of ranked criteria and the priorities listed in the Village Center Plan. Relation to Area: In its current condition, the Area does not provide a friendly environment for pedestrians or bikes. Improving non-vehicular circulation will encourage people to use different modes of transportation and will enhance the patronage businesses in the Area receive. Vehicular access can also be improved, to the same effect. Table 6,below, lists the projects in the LGVC Plan that relate to pathways. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 17 Table 6—Projects from the Lake Grove Village Center Plan—Pathways North/South between Lake Grove Ave.& Pathway Medium Lanewood St, Kruse Way to Galewood Pathway Low Harvey Way to Mercantile Drive Pathway Low Collins Way to Hallmark Drive Pathway Low Douglas Way to School Driveway Pathway Medium Lake Grove Elementary-Douglas Way to Pathway Medium Boones Ferry Lake Grove Ave to Boones Ferry Pathway Low Oak Ridge Rd to Boones Ferry Pathway Low Source;Lake Grove Village Center Ptah to#" "ItwAter There are no projects in the 2012/13 LOCIP that specifically deal with stor water issues in the Area. The LGVC flan identifies an action measure to"fund and complete a detailed storwater management and engineering feasibility study to fully assess issues and cost associated with incorporating green streets" ( LGVC Flan, p.17). This issue may be addressed in the Boones Ferry Toad Refinement flan, scheduled for,adoption in the spring of 2012. Wastewater There are no projects in the 2012/13 LOCIP or the LGVC Plan that specifically deal with wastewater issues in the Area. Water There is one major water project that lies partially within the Area. The planned new water supply line linking Lake Oswego and Tigard should pass through the north end of the Area. Projects from the 2012/13 Lake Oswego Capital Improvement Plan Lake Oswego-Tigard Water Partnership Estimate: $211,291,000 Project Description: Plan, design,finance, and construct an expansion of Lake Oswego's water supply system from its current capacity of 16 million gallons per day (mgd) to 32 mgd. This project started in FY 2009-10 and will conclude in FY 2016-17. Cost associated with work outside of the current 5-year window are not accounted for in the estimate. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 18 Relation to Area: A portion of the pipeline being upgraded by this project lies in the Area. Parks and Open Space The 2012/13 LOCIP does not identify specific improvements for any parks or open spaces in the Area. There is, however, a project in the LOCIP that has an estimated cast of$100,000 whose description says some of the budget will be used on parks and open spaces in the Area. This project is detailed as Lake Grove Village Center Improvements above. Although there are no parks identified in the Area, the Lake Grove Elementary School playground serves a park function in the Area. Public Parking to Support sinesses Other than the parking at the Lake Grove Elementary School, there is no existing publicly owned parking in the Area. The LGVC Plan and the 2012/13 LOCIP both identify parking as an aspect within the Area that needs to be improved. The LOCIP estimates$6,200,000 to address this issue, Projects from t Capital r ve e t Plan Lake trove Village Center Parking Improvements Estimate from LOCIP: $3,000,000 Project Description: The Lake Grove Village Center Plan includes a project to provide public parking facilities in conjunction with roadway improvements. The parking improvements may be a stand-alone project or a project developed jointly with a private developer. Relation to Area: Parking is one of the most important components to creating a successful mixed-use area. Creating effective parking infrastructure will encourage more people to frequent the businesses in the Area, 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 19 - ----------- , , Table 7—Projects from the Lake Grove Village Center Plan—Public Parking Distribute public Public parking High Acquire sites for public parking parking lots/facilities lots/facilities lots/facilities.Develop future parking and related access and related lots/facilities through public/private within each of the three access partnerships as opportunities arise and as parking service areas: needs are defined in conjunction with North,Central and redevelopment and Boones Ferry Road South, improvements. Source:Lake Grove Village Center Plan Public Buildings The Public Buildings in the Area are: • United States Post Office • Lake Grove Elementary School • Lake Oswego School District Bus Storage • A Clackamas County Housing Authority building Wetlands There is a small wetland in the Area located off the end of Harvey Way and adjacent to Mercantile Drive. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 20 Social Conditions According to the Clackamas County Assessor's data, there are 87 parcels in the Area with residential uses, accounting for 22.75% of the acreage and 31% of parcels. Claritas is the database used for this information. The boundary drawn for the data is roughly the same boundary as the Plan Area. The population of the Area is estimated at 605 people. Table 8 -Population Estimate 1990 Census 500 2000 Census 620 2012 Estimate 605 Source:Claritas,2010 The age distribution in the Area is centered around the 45 to 54-year-old age group (17%). The age group from 25 to 65 accounts for 59% of the population. The full age distribution of the Area is shown in Table 9, below. Table 9-Age Distribution 0-4 27 4% 5-9 32 5% 10-14; 36 6°l0 7.5-17 22 4°l� 18-20 17 3°l0 ': 21 -24 24 4% 25-34 70 12°l 35-44 99 16% 45-k 54 102 17% 55-64 88 15% 65-74' 45 7°1 75-84 24 4°l0 E 85 and over. `. 20 3% s Total 605 100% i Source:Claritas,2010 The racial characteristics of the Area are shown in Table 10,below. The majority of people (85%) identify themselves as white and the second largest group that people identify with is Asian (7%). Table 10-Racial Characteristics 7 f 17/12 proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 21 White Alone 512 85% Black or African American Alone 9 1% Amer.Indian and Alaska Native Alone 3 0% Asian Alone 45 7% Native Hawaiian and.Other Pac.IsL Alone 3 0% Some Other Race Alone 9 1% Two or More Races 25 4% ; Hispanic or Latino 28 5% Not Hispanic or Latino 577 95% Total 605 100% Source:Claritas,2010 Over 89% of the people living in the Area indicate they have some level of college education or college degree, including advanced degrees as shown in Table 11 below. Table 11 - Education Less than 9th grade 6 1°l, Some High School,no diploma 8 2% High School Graduate(or COED) 37 8°l, Some College,no degree 102 23% Associate Degree 21 °I Bachelor's Degree 165 37% Master's Degree 70 16%' Professional School Degree 24 5% Doctorate Degree 14 3%' Total 447 100% Source:Claritas,2010 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 22 Many workers in the Area spend less than 15 minutes travelling to work (35%),with the majority of residents spending less than 30 minutes to get to work as shown in Table 12. Table 12-Travel Time to Work R' EMNEINEIEN= Less than 15 Minutes 11 % 15-29 Minutes 97 30% 30-44 Minutes 93 29% 45-59 Minutes 12 4% 60 or more Minutes 7 2% Total Workers 324 100% Source:Claritas,2010 Most of the workers (74%) drove alone to work as indicated in Table 13, Only one percent walked and one person indicated transportation by bicycle. Table 13- Method of Transportation to Work Drove:Alone 255 4.30°1� Car Pooled 21 6.10% ;public Transportation 12 150% Walked 4 1.20°lam Bicycle 1 0.30% Other Means 4 1.20% Worked at Home 46 13.40% Total Workers 343 100.00°l Source:Ctaritas,2010 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 23 Economic Conditions The estimated total assessed value of the Area, including all real, personal, manufactured, and utility properties, is$150,834,268, or 2.75% of Lake Oswego's total assessed value. The total assessed value of the City of Lake Oswego is $5,485,494,853; the value less urban renewal excess is$5,280,630,292 (data from Clackamas County Assessor). Improvement to Land Ratio An analysis of property values can be used to evaluate the economic condition of real estate investments in a given area. The relationship of a property's improvement value (the value of buildings and other improvements to the property) to its land value is generally an accurate indicator of the condition of real estate investments. This relationship is referred to as the "'Improvement to Land Ratio," or "I:L." The values used are real market values. In urban renewal areas, the LL may be used to measure the intensity of development or the extent to which an area has achieved its short and long-term development objectives. A healthy neighborhood/mixed-use commercial district would have an improvement to land value of 4:1. Table 14,below, shows the improvement to land ratios for taxable properties within the Area. As the table shows, over 59% of the Area has less than a 2.01 improvement to land ratio, and nearly 20% of the Area is undeveloped (however,41 of the vacant parcels in the Area are in Trillium Woods and are either currently developed, under construction or planned for development. This accounts for 3.89 acres). The 1:1,ratios for improved properties in the Area are very low. The row titled non-taxable represents the public or non-profit properties in the Area. The row titled no improvements represents those lots shown as having no improvements by the Clackamas County Assessor's data. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 24 Table 14- Improvement to Land Ratio b Not Taxable 34 X6 16.66% $0 0.00% No Land Value(Condos) 28 0.3 0.25% $2,457,510 1.75% No Improvement Value (Vacant 55 20.6 16.66%+ $12,168,143 8.69% 0.01-0.50 31 12.5 10.10% $8,046,045 5.74% 0.51-1.00 19 15.4 12,49% $18,378,358 13.12% 1.01-1.50 22 16.2 13.1.5% $22,165,126 15.83% 1.51-2.00 24 8.5 6.91% $14, 70,9 4 10,26% 2.01-3.00 24 17.0 1174% $25,642,453 18.31% 3.01-4.00 6 3.9 3.18% $8,970,193 6.40% 4.01 -5.00 6 7.5 6.09% $20,945,496 1495% a5,0 3 0.9 015% $6, 16,773 4.94% ; Total 252 123A 1.00% $140,061,051 100% Source;Base,data from Clackamas County Assessor Impact on Municipal Services The fiscal impact of tax increment financing on taxing districts that levy taxes within the Area (affected taxing districts) is described in the section on Impact of Tax Increment Financing in this Report. This subsection discusses the fiscal impacts resulting from potential increases in demand for municipal services. The projects being considered for future use of urban renewal are transportation and parking development projects. The use of urban renewal funding for these projects allows the City to leverage other available City and other funding sources to complete the improvements in the Area. Given the ability to fund much of the reconstruction of boones Ferry Road through tax increment financing,other much needed City transportation projects can be funded with the City's other funding sources, as determined through the annual budgeting process. It is anticipated that the transportation and parking development projects will catalyze development on the adjacent undeveloped and underdeveloped parcels. This development will require City services, such as utilities and fire and police services,but will also generate systems development charges,revenues from the use of utilities in the Area,and school excise taxes. As the development will be new construction or upgrading of existing structures, the development will meet current building code,which will enhance fire-protection. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal flan 25 These impacts of needed municipal services will be mitigated by providing funding for major transportation facilities creating vital connections to the existing developed parcels and to major parcels of undeveloped and underdeveloped land. With increased connectivity,this land will be more likely to be improved at a higher density,which will provide additional future jobs to the Lake Oswego area, and future increased tax base for all taxing jurisdictions. The projects will also provide a highly desired transportation amenity which will greatly increase the pedestrian and bicycle connectivity in the Area,which reduces transportation costs and increases livability. 111. REASONS FOR SELECTION OF EACH URBAN RENEWAL AREA IN THE PLAN The reason for selecting the Area is to cure blight. Some of the conditions of blight will be addressed by implementing the projects identified in this Plan. IV. THE URBAN RENEWAL PROJECTS AND THE RELATIONSHIP BETWEEN URBAN RENEWAL PROJECTS AND THE EXISTING CONDITIONS IN THE UR BAN RENE W A L A RE A The projects identified for the Area are the reconstruction of Boones Ferry Road and parking for the Area. The descriptions of the projects and relationship to existing conditions are shown below. Boones Ferry Road Boones Ferry Road includes full improvements as specified in the Lake Grove Village Center Plan including: • Four travel lanes (two travel lanes in each direction) • Landscaped center medians serving as a greenstreet feature to capture stormwater • Bike lanes on both sides of the street • Sidewalks, including tree wells or landscaped planter on both sides of the street • Left turn lane and space for u-turns at the signalized intersections • Pedestrian crosswalks • Undergrounding of private utilities • Consistent streetscape elements, including pedestrian scale lighting, street furniture/benches, public transit shelters, coordinated paving materials, and street trees. Existing Conditions: 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 26 Boones Ferry Road is classified as a major arterial in the City of Lake Oswego Transportation Systems Plan (TSP). It has two travel lanes in each direct-ion, with some turn lane refuges in the center. Sidewalks exist along portions of Boones Ferry Road, but not along the full extent. The sidewalks have significant deterioration in many segments.As identified in the LGVC Plan, over half of the existing sidewalks facilities do not meet minimum width standards, some portion of the sidewalk tilt toward the street with no buffer between pedestrian path and vehicle traffic, in other areas the pedestrian path is obstructed with utility poles and/or trees, many driveways and access points create potential pedestrian-vehicle conflict points and the existing system lacks connectivity (LGVC Plan, p 11.). The LGVC Plan also notes that there are some bicycle facilities, but not throughout the Area. It identifies issues including transportation safety in the Area. The LGVC Plan identifies many transportation improvements for Boones Ferry Road. The deficiencies identified in the TSP include the need for Widening of Boones Ferry Road (3-14) Intersection Improvements (3-14) Bike laneslbikeways (3-22) New or refined signal coordination (3-27) In addition, Boones Ferry Road is identified as needing rehabilitation, signals, turn lanes, widening, pedestrian and bicycle improvements (TSP in Table 4-3,p 4-7). There are also storm water runoff deficiencies in the Area. Parking Improvements Includes parking development to replace parking lost in the Boones Ferry Road construction as outlined in the Lake Grove Village Center Plan, and parking to support businesses in the Area. Parking may include acquisition of sites and the development of facilities. Existing Conditions: The reconstruction of Boones Ferry Road as described in the LGVC Plan and identified as a project in this Plan recognizes that parking spaces will be eliminated in the road reconstruction. The LGVC Plan specifically identifies that these parking spaces must be replaced (LGVC Plan, p 56). In addition, there is parking demand throughout the Area. V. THE ESTIMATED TOTAL COST OF EACH PROJECT AND THE SOURCES OF MONEYS TO PAY SUCH COSTS ---------- The costs of the projects are shown in Table 15. The sources of funds are tax increment revenues (TIF) and a variety of other funding sources as identified by the City of Lake Oswego (City). The "other" sources include systems development 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 27 L charges, general obligation bonds, street fund contribution, general fund contributions, local improvement district(s) or other sources identified by the City. In addition to the other sources identified above, if the projects are to be constructed according to the schedule shown in Table 16, there is an identified up-front funding gap which must be filled to allow the Boones Ferry Road Phase I project to commence. It is anticipated the City of Lake Oswego would issue a full faith and credit bond to pay for the Phase I funding of Boones Ferry Road. It is anticipated there will be TIF revenues sufficient to repay the up-front financing provided through the full faith and credit bond by the City. There may also be a funding gap for Phase II of Boones Ferry Road, depending on the final engineering and costs of the project and the actual inflation of project costs into the distant future. If there is a gap, it is anticipated that other funding sources as identified above will fill the gap. The TIF Share Column refers to the amount of tax increment revenues in FY2011-12 dollars, Table 15- Estimated Cost of Projects Boones Ferry Road Phase 1 $23,000,000 $15,700,000': Boones Ferry Road Phase 11 $9,000,000 $4,500,000 Parking $2,000,000 $2,000,000 Source:Cihj of lake Oswego and ECONorthwest,rounded totals V1. THE ANTICIPATED COMPLETION DATE FOR EACH PROJECT • The project schedule is shown in Table 16. The projects will be ongoing and will be completed as directed by the Lake Oswego Redevelopment Agency (LORA) The anticipated construction start dates are shown below,with completion depending on project specifics identified at the time of construction and all projects anticipated to be completed by FY 204243. This date is after the Area is expected to quit receiving tax increment revenues, but the final construction of Phase 11 may go beyond the construction start date, where funding will be allocated. This is not expected to increase the term of the tax increment financing, projected for 26 years. Table 16-Anticipated Completion Dates IM111111111=111WE Road Phase ll FY201,5-161 FY 2018-19 Parking__ FY 2031-32 1 FY 2034-35 Boones Ferry Road Phase 11 FY 2038-39 l FY 2040-41 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 28 Source: ECONorthwest,City of Lake Oswego,dependent on financing plan devised by tlx City 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 29 VII. THE ESTIMATEDT OF TAx INCREMENT REQUIREDREVENUES ICI E IN WHICHILL BE RETIRED Table 17 shows the tax increment revenues and ether funds and their allocation to reimbursements, debt service,and debt service reserve funds. It is anticipated that all debt will be retired by the end of FY 2038-39. The estimated total amount of tax increment revenues required to service the maximum indebtedness of$36,000,000 is $48,995,831(nominal dollars). It is anticipated the City of Lake Oswego would issue a full faith and credit bond to pay for the Phase I funding of Boones Ferry Read. In the early years of the district, TIF revenues are estimated to be insufficient to cover 100% of the debt service for the City FF&C bond. Therefore, other City funds would be used to:make partial debt service payments. Once there is sufficient funding from tax increment revenues, the debt service payments on the full faith and credit bond will be repaid to the City from the tax increment revenues. The up-front financing cited above,called "other funds" in this table, represents annual contributions from the City. The financing plan shows these up-front funds being re-paid to the City in FY 202 -24 to 2030-31. Abbreviations used in the table: FFC Bond Full Faith and Credit Bond 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 30 Table 17-Tax Increment Revenues,Other Funds and Allocations to Debt Service RESOURCE Beginning Fund Balance $0 $0 $99,994 $365,693 $12,215,000 $5,930,000 $0 $0 $0 Tax Increment $0 $302,994 $371,789 $448,036 $532,397 $625,443 $734,143 $859,963 $987,042 TransfeIrs in: General Fund(FF&C Bond) $0 $0 $0 $17,400,000 $0 $0 $0 0 $0 Other Funds $350,000 $2,250000 $4,000000 $1,630,117 $81 ,727 $1,080,058 $619,836 $49 ,598 $374,20 Total Resources $350,000 $2,552,994 $4,471,783 $19,84 ,846 $13,562,124 $7,635,501 $1,353,979 $1,357,561 $1,361,251 EXPENDITURES Debt Service $0 $0 $0 ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) URD Administration ($100,000) ($103,000) ($106,090) ($109,273) ($112 551) ($115,928) ($119,406) ($122,988) ($126,678) Repayment to Other Funds* $0 ($100,000) $0 $0 $0 $0 $0 $0 $0 Capital Outlay Boons Ferry Road Phase 1 ($250,000) ($2,250,000) ($4,000,000) ($6,285,000) ($6,285,000) ($6,285,000) $0 $0 $0 Boones Ferry Road Phase 2 $0 $0 $0 $0 $0 $0 0 $0 $0 Parking $0 $0 $0 $0 $0 0 $0 $0 $0 Total Expenditures ($350,000) ( 2,45 ,000) ($4,106,090) ($7,628, ) ($7,632124) ($7, ,501) ($1,353,979) ($1,357,561) $1,361,251) Ending Fund.Balance $0 $99994 $365693 $12,215,000 $5,930,000 $0 $0 $0 $0 Source:ECQNorthwest 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 31 Table 17-Tax Increment Revenues,Other Funds and Allocations to Debt Service,continued RESOURCES I I Beginning Fund Balance $0 $0 $0 $0 $0 " $0 $0 $0 $0 Tax Increment $1,124,417 $1,268,220 $1,418,836 $1,576,458 $1,658,281 $1,784,691 $1,953,010 $2,129,195 $2,313,614 Transfers in: General Fund(FF&C Band) $0 $0 0 $0 $0 $0 $0 $0 $0 Other Funds $240,634 $100,74-5 $0 $0 0 $0 $0 0 $0 ; Total Resources $1,365,051 $1,368,965 $1,418,836 $1,576,458 $1,658,281 $1,784,691 $1,953,010 $2,129,195 $2,313,614 1 EXPENDITURES Debt Service ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) ($1,234,573) URD Administration ($130,478) ($134,392) ($138,424) ($142,577) ($14 , ) ($15 ,2 0) ($155,798) ($160,472) ($165,286); Repayment to Other Funds* $0 $0 ($45,839) ($199,308) ($276,854) ($398,858) ($562,639) ($734,150) ($913,755) Capital Outlay Boones Ferry Road Phase 1 $0 $0 $0 $0 0 $0 $0 $0 $0 Boones Ferry Read Phase 2 $0 0 $0 $0 $0 0 $0 ; $0 $0 Parking $0 $0 $0 $0 $0 $0 0 0 $0 Total Expenditures ($1,365,051) ($1,368,965) ($1,418,836) ($1,576,48) ($1,68,281) ($1,784,691) ($1,953,010) ($2,19,195) ($2,313,614) Ending Fund Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 Source.ECONorthwest 1 I 7f 17/12 Proposed Report Accompanying Lake Grave Village Center Urban Renewal Plan 32 i Table 17-Tax Increment Revenues,Other Funds and Allocations to Debt Service,continued RESOURCES Be a iin Fund Balance $0 $31 ,851 $0 $0 $857,188 $2,6 8,377 4,7 6,96 6,, 81,720 9, 1 ,772 Tax Increment $2,487,190 $2,668,041 $2,856,474 $3,052,807 $3,257,374 $3,470,521 $3,692,609 $3,681,004 $3,741,282 m_ _ -___ _ Transfers in. General Fund(FF&C Bonet) $0 $0 $0 $0 $0 $0 $0 $0 $0 - -. ., __ _ ,.... .. . _ �_.,.._ _ _..... -- ._�....__ ... ... ... .... . .. ..._...... ..... ... . ....._ . ._ _.� .._... . ... .._ . _ . Other Funds $0 $0 0 $0 $0 $0 $0 $0 $ Total Resources $2,487,190 $2,978,892 $2,856,474 $3,052,807 $4,114,562 $6,158,898 $8,419,574 $10,662,724 $12,960,054 EXPENDITURES Debt Service {$1,234,573} ($1,234,573) {$I,234,573) ($1,234,573) {$1,234,573) {$1,234,573) ($1,234,573) {$1,234,573) {$2,410,343} Administration 245) ($17 352) {$18(1,613) {$191,612) Repa_yrnent to Other Funds* ($771,521}.m� __........._r�'0 � � .$0� �m. $'��.�.. . . �._.....$�.. _ . __... .$� $OT . $0 $0 Capital C}utlay__.. __r Boones Fermi Road Phase 1 $0 0 $0 $0 $0 $0 $0 $0 $0 _._. - ._... .._._ _.._ - _ . _. __. ... ., Booties Ferry Road Phase 0 $0 $0 $0 $0 $0 0 $0 {$10, 34,051) _ __... .__ _ _ .__.. _ .._ _ ._ ._._ _ _ _ _. ..._ ... Parkin $0 ($1,568,967) ($1,441,288) ($775,015) $0 $0 $0 $0 $0 Total Expenditures ($ ,176,339) ($2,97 ,892) ($2,856,474) ($2,19 ,619) ($1,42 ,185) ($1,431,933) ($1,4 7, ) ($1,443,952) ($12,960,05 ) Ending Fund Balance $310,851 $0 $0 $857,188 $2,688,377 $4,726,965 $6,981,720 $9,218,772; $f ; Source;ECONortinuest 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 33 FINA N CI AL ANA LY S I The estimated tax increment revenues through FY 2038/39, as shown above, are based on projections of the assessed value of development within the Area and the total tax rate that will apply in the Area. Table 18 shows the estimated assessed values of the Area and the growth assumptions for projecting those values. The assumptions include projected new assessed value of$12,524,565 from current development projects". This development is shown in the AV estimated in Table 19 below. Building permits in the Area over the last ten years as identified by the City of Lake Oswego and shown in Table 19 indicate consistent upgrading and new development in the Area which supports assessed value growth assumptions above the 3% statutory limits for existing development. The projects identified in the flan are anticipated to also help catalyze new development in the Area. A market analysis conducted by ECONorthwest in.April of 2012 states "Overall, the market fundamentals in the Lake Oswego market remain strong.... The most likely use to develop in the Lake Grove Village Center is retail. Retail uses are in the planning stage—but not the development stage. The high traffic counts and variety of existing retail on Boones Ferry Road make it a good location for additional retail The proposed improvements will improve access on Boones Ferry Road for existing and future businesses. Further,funding the road project will increase certainty among property owners and developers about the future of the Lake Grove Village Center area. This increased certainty by itself might help to improve the likelihood that redevelopment will occur,but the road improvement itself does not alter the strong fundamental market conditions in the area." t Lake Grove Shopping Center and Trillium Woods. 7/17/12 Proposed Report Accompanying Lake Grove village Center Urban Renewal Plan 34 Table 18 —Assessed Value Estimates �d 2011- 012 $140,061,051 $7,892,030 $2,881,187 0 $150,834,268 0.0% 2012-2013 $144,262,883 $7,892,030 $2,881,187 $6,141,605 $161,177,705 6.9%Q 201 -2014 $148,590,769 $7,892,030 $2,881,187 $12,766,040 $172,130,026 6.8% 2014-2015 $153,048,492 $7,892,030 $2,881,187 $13,149,021 $1.76,970,730 2.8% 2015-2016 $158,022,568 $7,89 ,030 $2,881,187 $13,543,491 $182,339,276 3.0% 2016-2017 $163,553, 58 $7,892,030 $201,187 $13,949,796 $188,276,371 3.3% 2017-2018 $169,686,609 $7,892,030 $2,881,187 $14, 68, 90 $194,828,116 3.5% 2018-2019 $176,898,290 $7,892,030 $2,881,187 $1.4,799,338 $202,470,845 3.9% 2019-2020 $185,300,959 $7,892,030 $2,881,187 $15,24 ,318 $ 11,317,494 4.4%p 2020-2021 $194,102,755 $7,892,030 $2,881,187 $15,700,618 $220,576,590 4.4% 021- 022 $203,32,636 $7,892,030 $2,881,187 $16,171,636 $230,267,489 4.4% 2022-2023 $212,980,461 $7,892,030 $2,881,187 $16,656,785 $240,410,463 4.4% 2023-2024 $223,097,033 $7,892,030 $2,881,187 $17,156, 88 $251,026,738 4.4% 2024-2025 $233,694,142 $7,892,030 $2,881,187 $17,671,183 $262,138,542 4.4% 2025-2026 $244,794,614 $7,892,030 $2,881,187 $18,201,319 $273,769,150 4.4% 2026-2027 $256,422,358 $7,892,00 $2,881,187 $18,747,359 $285,942,934 4.4% 2027-2028 $268,602,420 $7,892,030 $2,881,187 $19,309, 80 $298,685,417 4.5% 2028-2029 $281,361,035 $7,892,030 $2,881,187 $19,889,074 $31,2,023,326 4.5% , 2029-2030 $294,725,684 $7,892,030 $2,881,187 $20,485,747 $35,984,648 4.5% 2030-2031 $307,251,526 $7,892,030 $2,881.,187 $21,100,319 $339,125,062 4.0%p ! 2031-2032 $320,309,716 $7,892,030 $2,881,187 $ 1,733,328 $ 52,816, 61 4.0% , 2032-2033 $333,922,879 $7,892,030 $2,881,187 $22,385,328 $367,081,424 4.0%0 2033-2034 $348,114,601 $7,892,030 $2,881,187 $23,056,888 $381,944,706 4.0% 2034-2035 $362,909,472 $7,892,030 ..$2,881,187 $23,748,594 $397,431,283 4.1% 2035-2036 $378,333,125 $7,892,030 $2,881,187 $24,461,052 $413,567,394 4.1% 2036-2037 $394,412,283 $7,892,030 $2,881,187 $25,194,884 $430,380,384 4.1% 2037-2038 $411,174,805 $7,892,030 $2,881,187 $25,950,731 $447,89 ,753 4.1% 2038-2039 $428,649,734 $7,892,030 " $2,881,187 $26,729,253 $4661152,204 4.1°l0,. Source:I CONorthwest 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 35 Table 19-Anticipated Increased Value from Building Permits ;ACCESSORY STRUCTURE $42,500 $16,433 $0 $13,280 $29,127 $29,200 ICCMMERCIAL ADD/ALTER $390,145 $3,592,472 $1,511,329 $1,460,396 $1,381,425 $1,827,378 $1,178,456- $536,210 $497,350 $4,377,557 $1,794,520 !COMMERCIAL ELECTRICAL $0 $28,234 $0 $0 $0 $0 $0 $0 $0 $0 $W 1COMMERCIAL FIREALA RM $1,100 $52,882 $11,693 $2,900 $6,300 $14,000 $74,450 $11,050 $27,935 ---$20,210 $65,450 ;COMMERCIAL LOW VOLTA $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $W ICCIMMERCIALMBCHANICA $560,699 V 47,758 $178,017 $620,457 $185,845 $235,804 $293,590 $78,603 - -$98,557 $169,514- $747,9731 2,008 $0 $0 $W $5,990 ' 0 2,749 -1,431 IDEMOLITION --$O ---- $0 $0 $0- $0 $0 $0 NE4 242 500- $745�500 $5,100,000----1$593,245 800 IW COCOMCONSTRU C-nON 466$ ,188 $1,225, -$O i NEW SF RESIDENTIAL CONST $1,842,263 $0 $3,892,885 $Oi 1 0 $500 --- --- !RESIDENTIAL ELECTRICAL $0 $0 $0 $0 $0 $0 $0 $0, $0 $0 1!� . ti LOW VOLTAGE 01 �iRESIDENTIAL MECHANICAL $0 $2,663 $0 $0 $2,802 $0 $0 $01 IRESIDENTIAL PLUMBING $0 $0 $0 $0-------- 5PRINKLER BY SQ FOOT $6,240 $0 $2,057 $13,732 $7,620 $41,042 Total $2,309,310 $5,154,716 $1 78, 29 -,---$681,661 $1,424,053 $13,595,M-- $1,465,132 $4,125,061 5 9 $2,107,347 $5,807,460 :Total New Construction $466,188 $0 $593,245 $3,068,063 $0 $0 $4,242,500 $0 $785,500 $8,992,885 $q�i Source:ECONorthwest from City of Lake Oswego building pennit data 7/17/12 Proposed Report Accompanying Like Grove Village Center Urban Renewal Plan 36 Table 20 shows the projected incremental assessed value, projected tax rates that would produce tax increment revenues, and the annual tax increment revenues (not adjusted for under-collection, penalties, and interest). These projections of increment are the basis for the projections in Table 18, These projections include a potential of two years of shared revenue with impacted taxing jurisdictions. The tax rate varies because of impacts from GO Bond rates. Table 20-Projected Incremental Assessed Value,Tax Rates, and Tax Increment Revenues and Revenue Sharing 2012-2013 $0 $14.3279 $0 $0 $0 2013-2014 $21,295,758 $14.2279 $302,994 $302,994 $o 2014-2015 $26,136,462 $14.2249 $371,789 $371,789 $o 2015-2016 $31,505,008 $14.2211 $448,036 $448,036 $0 2016-2017 $37,442,103 $14.2192 $532,397 $532,397 $o 2017-2018 $43,993,848 $14,2166 $625,443 $625,443 $0 2018-2019 $51,636,577 $14.2175 $734,143 $734,143 $0 2019-2020 $60,483,226 $14.2182 $859,963 $859,963 2020-2021 $69,742,322 $14.1527 $987,042 $987,042 $0 2021-2022 $79,433,221 $14.1555 $1,124,417 $1,124,417 sa-I 2022-2023 $89,576,195 $14.1580 $1,268,220 $1,268,220 $o 2023-2024 $100,192,470 $14.1611 $1,418,836 $1,418,836 $o 2024-2025 $111,304,274 $14.1635 $1,576,458 $1,576,458 $0 2025-2026 $122,934,882 $13.4891 $1,658,281 $1,658,281 2026-2027 $135,108,666 $13.2093 $1,784,691 $1,784,691 $0 1 2027-2028 $147,851,149 $13.2093 $1,953,010 $1,953,010 2028-2029 $161,189,058 $13.2093 $2,129,195 $2,129,195 $0 --- 2029-2030 $175,150,380 $13.2093 $2,313,614 $2,313,614 $ o 2030-2031 $188,290,794 $13.2093 $2,487,190 $2,487,190 $0 2031-2032 $201,981,993 $112093 $2,668,041 $2,668,041 2032-2033 $216,247,156 $112093 $2,856,474 $2,856,474 $o-- 2033-2034 $231,110,438 $13.2093 $3,1052,807 $3,052,807 $0' 2034-2035 $246,597,015 $112093 $3,257,374 $3,257,374 s0- 2035-2036 $262,733,126 $1�.2093 $3,470,521 $3,470,521 $ 2036-2037 $279,546,116 $13.2093 $3,692,609 $3,692,609 2037-2038 $297,064,485 $13.2093 $3,924,014 $3,681,004 $243,011 2038-2039 $315,317,936 $13.2093 $4,165,129 $3,741,282 $423,847 Total _Nw $49,662,688 $48,995,831 Source:PCOtdorthzuest 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 37 La.,IMPACT OF I THE I TAX INCREMENT FINANCING This section describes the impact of tax increment financing of the Plan, both until and after the indebtedness is repaid, upon all entities levying taxes upon property in the urban renewal area. The impact of tax increment financing on overlapping taxing districts consists primarily of the property tax revenues foregone on permanent rate levies as applied to the growth in assessed value in the Area. These projections are for impacts estimated through FY 2038-39, and are shown in Table 21,below. Table 22 shows the tax revenues projected to be available to taxing jurisdictions once the Area is terminated. These are estimates only, and the changes in the economy may impact the projections made for the Area. Note that, in FY 2037-38 the Area's TIF revenue is projected to meet the 10% of initial maximum indebtedness trigger stated in the ORS statutes (10% of$36,000,000 is $3,600,000). At that 10% limit, the affected taxing jurisdictions will begin receiving a portion of the TIF revenues (Revenue Sharing). These are estimates, and given the extended period before Revenue Sharing may occur, they cannot be certain. The Agency will notify the Assessor to initiate Revenue Sharing once this threshold is met. The Lake Oswego School District and the Education Service District are not directly affected by the tax increment financing,but the amounts of their taxes divided for the urban renewal plan are shown in the charts. Under current school funding law, property tax revenues are combined with State School Fund revenues to achieve per-student funding targets. Under this system, property taxes foregone because of the use of Tax Increment Financing are replaced, as determined by a funding formula at the State level, with State School Fund revenues. The Lake Oswego School District is presently experiencing impacts of compression on their local option levies. The Lake Oswego School District local option levies are not projected to experience additional losses because of this Plan. As market values increase, compression is less of a concern for all local governments. New commercial and residential development in the Area will be subject to the construction excise taxes that are collected for the Lake Oswego School District. Table 21 shows the projected impacts to permanent rate levies of taxing districts as a result of this Plan. The projections in the Total Impacts column do not exactly match the tax increment projections in Table 20 because in the years 2012-2025 there are GO bonds issued prior to 2001 that have an impact on the overall TIF revenue generation,but are an impact on the tax payer(see Table 23) not on the taxing jurisdictions. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 38 Table 21-Pro*ected Irn act on Taxing District Permanent Rate Levies 2013-14 281,301 8,022 7,852 95,207 105,846 51,199 1,065 81 1,065 894 1,493 2,057 13 2014-15 345,245 7,391 9,637 116,848 129,906 62,837 1,307 10,387 1,307 1,098 1,832 2,525 170 2015-16 416,158 8,910 11,616 140,849 156,589 75,744 1,575 12,520 1,575 1,323 2,209 3,043 205 2016-17 494,583 10,589 13,805 167,392 186,098 90,018 1,872 14,879 1,872 1,573 2,625 3,617 243 2017-18 581,129 12,441i 16,221 196,683 218,663 105,770 2,200 17,483 2,200 1,848 3,084 4,250 28 2018-19 682,084 14,603 19,038 230,852 256,649 124,145 2,582 20,520 2,582 2,169 3,620 4,988 336 201 -20 798,941 17,105 22,300 270,402 300,620 145,414 3,024 24,036 3,024 2,540 4,240 5,843 39 2020-21 921,246 19,723 25,714 311,797 346,640 167,674 3,487 27,716 3,487 2,929 4,889 6,737 453 021-22 1,049,257 22,464 29,287 355,122 394,807 190,973 3,972 31,567 3,972 3,336 5,568 7,673 516 2022-23 1,183,239 25,332 33,027 400,468 445,221 215,359 4,479 35,598 4,479 3,762 6,279 8,653 582 2023`24 1,323,472 28,334 36,941 447,930 47,987 240, 5,010 39,816 5,010 4,208 7,023 9,679 651 2024-25 1,470,251 31,477 41,038 497,608 553,216 267,598 5,565 44,232 5,565 4,675 7,802 10,752 723 2025-26 1,623,884 34,766 45,326 549,605 611,023 295,560 6,147 48,854 6,147 5,163 8,618 11,876 799 2026-27 1,784,690 38,209 49,815 604,030 671,531 324,828 6,755 53,692 6,755 5,675 9,471 13,051 878 2027-28 1,953,011 41,812 54,513 660,998 734,865 7,393 58,756 7,393 6,210 10,364 14,282 961 , 2028-29 2,129,194 45,584 59,430 720,628 801,158 387,531 8,059 64,057 8,059 6,770 11,299 15,571 1,048 2029-30 2,313,616 49,533 64,578 783,045 870,55W, 421,097 8,758 69,605 8,758 7,356 12,278 16,920 1,13 2030-31 2,487,192 53,249 69,423 841,792 935,862 452,689 9,415 74,827 9,415 7,908 13,199 18,189 1,224 2031-32 2,668,041 67,121 74,471 903,001 1,003,911 485,605 10,099 80,268 10,099 8,483 14,159 19,511 1,31 2032-33 2,856,472 61,155 79,730 966,776 1,074,813 519,901 10,812 85,937 10,812 9,082 15,159 20,889 1,406 203 3,052,807 65,358 85,210 1,033,225 1,148,688 555,636 11,556 91,843 11,556 9,707 16,201 22,325 1,502 2034-35 3,257,374 69,738 90,920 1,102,461 1,225,661 592,869 12,330 97,998 12,330 10,357 17,286 23,821 1,603 2035-36 3,470,522 74,301 96,870 1,174,601 1,305,862 631„663 13,137 104,410 13,137 11,035 18,418 25,380 1,708 2036-37 3,692,609 79,056 103,069 1,249,767 1,389,428 672,085 13,977 111,092 13,977 11,741 19,596 27,004 1,817 2037-38 3,681,002 78,807 102,745 1,245,839 1,385,061 669,973 13,933 110,742; 13,933 11,704 19,535 26,919 1,811 2038-39 3,741,284 80,098 104,427 1,266,241 1,407,743 680,944 14,162 112,556 14,162 11,896 19,854 27,360 1,841 Total $48,258,604 $1,03 ,178 $1,347,003 $16,33 ,167 $18,158,398 $8, ,459 $182,671 $1,461,854 $182,671 $163,442 ,$256,101 $362,916 $23,745 Source:ECONortkavest *NOTE: Lake Oswego Schools and the Clackamas Education Service District are not directly impacted:,as they are allocated funding through the State School Funding Formula that is based can per pupil counts. - --------------------------------------------------- Table 22 shows the tax revenues projected to be available to taxing jurisdictions once the Area is terminated. These are estimates only, and the changes in the economy may impact the projections made for the Area. The table depicts the taxes from the frozen base of the Area that the taxing jurisdictions receive throughout the life of the Plan, and the taxes estimated from the additional taxes which will be received by the taxing jurisdictions once the Plan is terminated,estimated to be in FY 2039-40. The final column estimates the total amount of taxes estimated for the year that the Plan is expected to be terminated. Table 22- Additional Revenues Projected After Termination of Tax Increment Financing N.- t . IM Portland Community College 0.2828 $42,656 $94,551 $137,207 Clackamas County ESD* 0.3687 $55,613 $123,270 $178,883 Lake Oswego School District 4.4707 $674,335 $1,494,722 $2,169,057 City of Lake Oswego 4.9703 $749,692 $1,661,757 $2,411,449 Clackamas County 2.4042 $362,636 $803,814 $1,166,450 Clackamas County Extension and 411 0.0500 $7,542 $16,717 $24,259 Clackamas County Library 0.3974 $59,942 $132,866 $192,808 Clackamas County Soil and Conservation 0.0500 $7,542 $16,717 $24,259 Park Lake Grove 0.0420 $6,335 $14,042 $20,377 Port of Portland 0.0701 $10,573 $23,437 $34,010 Metro 0.0966 $14,571 $32,297 $46,868 Vector Control 0.0065 $980 $2,173 $3,153 Total 13.2093 $1,992,417 $4,416,363 $6,408,780 Source:ECONortlovest*These will not be new direct revenues,due to State School Funding Formula, Table 23 shows the projected impacts of bond rates of taxpayers as a result of this Plan. This impact is due to the spreading of pre-2001 GO Bond rates to taxpayers to equal the amount that would have been raised from properties in the urban renewal area. In other words, properties within the URA have some property tax revenues diverted from paying GO bonds that go to the urban renewal agency. However, jurisdictions still need to pay 100% of their scheduled debt service payment, so the GO bond tax rate is increased, causing taxpayers to contribute more property tax revenues to offset the loss of tax revenue. For new urban renewal areas,bonds and local option levies issued after 2001 are not impacted by urban renewal. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 40 The last column of Table 23 show what these impacts would be for a property with an assessed value of$100,000. The impact is minimal, and for the most part less than one dollar a year for a property with a$100,000 value. Table 23- Projected Impact on Bonds a � 2012-2013 $111.86 $111.86 $0.00 201 -2014 $101,.57 $101.90 $0.33 2014-2015 $101.21 $101.67 $0.46 2015-2016 $100.77 $10128 $0.51' 2016-2017 $100.52 $101.10 $0.58 2017-2018 $100.18 $100.83 $0.6 a 2018-2019 $1.00.19 $100.93 $0.74 2019-2020 $100.17 $100.99 $0.82 2020-2021 $93.59 $94.44 $0.85 2021-2022 $9 .78 $94.72; $0.94 2022-2023 $93.94 $94.97 $1..03 202 -2024 $94.17 $9 .28 $1.11 2024-2025 $94.33 $95.52 $1.19 2025-2026 $2 .64 $28.01 $0.37 Source:ECONorthwest 7 f 17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 41 X. COMPLIANCE WITH STATUTORY LIMITS ON ASSESSED VALUE AND SIZE OF URBAN RENEWAL AREA In cities with a population under 50,000, ORS 457.420 limits the amount of acreage and assessed value in an urban renewal area to 25% of the total acreage in the city and 25% of the assessed value, exclusive of urban renewal excess value. Lake Oswego has one existing urban renewal area, The East End Redevelopment Area. The table below projects the total acreages and assessed values for the East End Redevelopment Area and the Lake Grove Village Center Area. The Clackamas County Assessor will establish the frozen base once the Plan is approved. The projections below are estimates for the frozen base which were calculated from the Assessor's records of assessed values in the Area. Table 24- Existing and Pending Urban Renewal Areas pEastEndReEdevelomentEArea M45,832,170P1,56 Lake Grove Village Center Area $150,834,268 159.3 Total $196,666,438 315.30 City of Lake Oswego $5,280,630,292 7,168 %of Total 3.721 Source:City of Lake Oswego*Less Incremental Assessed Value in Urban Renezoal Area X R E LOCATION R E PO R T There is no relocation anticipated due to this Plan. If any property acquisition under the Plan occurs requiring relocation of the occupants of the acquired property, LORA will follow applicable state and federal regulations to relocate such occupants. 7/17/12 Proposed Report Accompanying Lake Grove Village Center Urban Renewal Plan 42