City looks at seeking Metro money for town center, corridor location study
Sherwood is among public agencies in 12 different cities within the Portland metropolitan area that might receive a slice of more than $3.5 million in grant dollars available to fund their visions for making land within the urban growth boundary ready for development.
The city has sent a letter of intent to the regional government asking about Metro’s construction excise tax (CET) planning grants program for the Sherwood Town Center and corridor plan.
The city is interested in possibly pursuing a grant to evaluate the existing town center boundary and corridor locations and create an economic development, land use and transpiration strategy in order to enhance the distinctive character and economic viability of the community. Sherwood’s Town Center is generally identified as bounded at the intersection of Highway 99W and Roy Rogers Road, and Sherwood Boulevard and Highway 99 W along with the Old Town area.
In the past, Metro has given Sherwood CET funds for land use projects that have included Area 59 (where Laurel Ridge and Edy Ridge schools are located), Areas 54 and 55 (located along Brookman Road) and Area 48 (also known as the Tonquin Employment Area, which includes approximately 300 acres of land on the southwest corner of the intersection of Tualatin-Sherwood Road and 124th Avenue). Plans are to extend 124th Avenue south from Tualatin-Sherwood Road, punching it through to Tonquin Road.
Metro has received letters of intent for 26 separate projects that support the development of sustainable, vibrant communities, safe and walkable neighborhoods, and local jobs.
Using revenues from the CET, the Metro Council is encouraging good planning that readies land for development, removes barriers to private investment in development and enhances the livability of the region.
The construction excise tax is assessed on construction permits issued within the Portland metropolitan region. The tax is assessed at 0.12 percent of the total value of improvements for which the permit is sought. Permits valued below $100,000 and permits for affordable housing projects or services for residents with income levels of 50 percent or less of federal median income standards are exempt.
As part of the eligibility requirements, agencies were required to demonstrate availability of other public and private resources including cash or in-kind services associated with the project. A total of $6,812,600 in grant funds was requested through the 26 letters of intent while applicants secured matching funds and in-kind services totaling an additional $7,462,385 on their own.
In general, projects fell into three broad categories: connecting transportation and land use in both small and large areas, land use and transportation strategies that address maintaining a healthy ecosystem, and helping development happen in areas with site conditions that may preclude traditional development approaches.
One key criteria in evaluating the proposed projects is a focus on development or redevelopment in or near centers, corridors, main streets, station centers, employment areas or industrial areas that enhance the 2040 Growth Plan. In response, several of the letters of intent proposed projects for revitalizing and maintaining the distinctive character of industrial neighborhoods and historic downtowns.
Public agencies submitting a letter of intent will receive feedback from Metro on ways to strengthen their application or provide information that may be missing.
The next step for applicants is to then submit a formal application to Metro by Jan. 29, 2010. Applications will be reviewed by a steering committee comprising nine members with expertise ranging from economic development to real estate and infrastructure finance. After reviewing and scoring the applications, the committee’s recommendations will be passed on to the Metro Council. The first round of grants is expected to be awarded in May 2010.
Metro, the regional government that serves 1.5 million people who live in the 25 cities and three counties of the Portland metropolitan area, provides planning and other services that protect the nature and livability of our region.