Troutdale Riverfront Renewal Plan

(Measure 26-77 Slated for the May 16, 2006 Election)

Introduction
The Troutdale City Council, at its regular 2/14/06 meeting, approved the Troutdale Riverfront Renewal Plan (the Plan). Council also decided to place the Plan before the voters at the May 16, 2006 election to propose using urban renewal to fund parts of the Plan. The Plan, including urban renewal funding, was recommended to City Council by the Ad Hoc Downtown Redevelopment Committee (the Committee), the Planning Commission, the Parks Advisory Committee and the Citizens Advisory Committee.

Options
The Committee’s recommendations have two parts based upon funding: Option (A) and Option (B).

Option A – Minimum Plan. Using funds from the sale of the Sewage Treatment Plant site and developer contributions, the City would dismantle the former STP facilities, relocate the City’s Parks and Facilities Department, extend 257th Way east through the Outlet Mall and connect it to the Historic Columbia River Highway near the City’s Depot Building. It is anticipated that the Outlet Mall would then expand to the east and Eastwind Development, LLC would redevelop its property as condos/ townhouses.

Option B – Full Vision Plan. Using funding from urban renewal, the City would add to the Minimum Plan by constructing a riverfront park and trail, a plaza, a pedestrian overpass conecting the historic downtown with the redeveloped STP site and construct public parking serving both the expanded Outlet Mall and Historic Downtown.

Urban Renewal Funding
If this ballot measure passes, the City would implement Option B - Full Vision Plan with project funding through tax increment financing (TIF). TIF is based on growth in property tax revenue generated from properties located within the urban renewal area. The Plan’s urban renewal area is approximately 48.4 acres bounded by I-84 on the north, 257th on the west, the Union Pacific Railroad on the south and the Sandy River on the east. The area also includes Depot Park south of the Union Pacific Railroad tracks. The urban renewal agency would be authorized to incur debt (issue bonds) during the first ten years to a maximum of $7,000,000. The Plan’s bonds would be repaid from the TIF within sixteen years. Existing voter approved general obligation bond liabilities are estimated to increase by $.035/$1,000 of assessed valuation. For a house assessed at $200,000 this would be $7.00 per year.

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City of Troutdale- Last Updated November 26, 2016
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