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McMinnville Urban Renewal Agency approves annual financial report; board outlines Third Street and Alpine Avenue priorities
Summary
The McMinnville Urban Renewal Agency voted unanimously to adopt its annual financial report for FY ended 06/30/2024 and reviewed near‑term strategic priorities including the Third Street Improvement Project, Alpine Avenue phase 2 planning, the Northwest Rubber site and property assistance programs.
The McMinnville Urban Renewal Agency approved a resolution adopting its annual financial report for the fiscal year ending June 30, 2024, and reviewed strategic priorities and a proposed FY 2025–26 outlook.
Planning Director Heather Richards presented the state‑required report (per Oregon Revised Statute 457.46), which summarized increment revenues collected to date, project expenditures, maximum indebtedness and the agency’s forecast. Richards told the board the district has collected roughly $702,000 in increment in the most recent year and about $3.5 million cumulatively since the district began; the agency’s maximum indebtedness remains substantially above current spend and forecasted uses.
Board members discussed the agency’s active project list. Richards highlighted the Third Street Improvement Project as the next major construction priority and noted the agency has used a mix of urban renewal funds, earlier City ARPA dollars and an $850,000 federal earmark to advance engineering and construction documents. Alpine Avenue Phase 1 was complete and staff said it is pursuing design and funding strategies for a second phase (Eleventh to Fourteenth Streets) tied to nearby redevelopment demand.
The agency’s property assistance program remains active: staff explained the program uses loans and grants to incentivize private investment and that some grant repayments (triggered by property resales within a specified period) feed a revolving fund. Richards said the agency is actively evaluating proposals for the Northwest Rubber site and anticipated recommending a proposer and entering a development agreement in the near term; the FY 2025–26 draft budget set aside funding for analysis, development‑agreement work and holding costs on that property.
The board approved Resolution No. 2025‑01, adopting the annual report and authorizing staff to publish and distribute the report to overlapping taxing districts as required by state law. The resolution passed unanimously (Cunningham, Tokolski, Chenoweth, Payne, Geary and Peralta voted aye).
What this means: approval fulfills the Urban Renewal Agency's statutory reporting requirement (ORS 457.46) and confirms staff may proceed with the prioritized work program and planned budget carryovers for projects including Third Street design, Alpine Avenue Phase 2 planning, downtown master‑plan work and ongoing property assistance activity.
Board action (vote): Resolution No. 2025‑01 was moved, seconded and adopted unanimously.
