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Cab outlines $41.5 million investment strategy, urges council to consider incentives and zoning changes
Summary
Jonathan Taylor previewed a CAB investment strategy recommending roughly $41,500,000 in core-area investments over five years and five council recommendations including SDC assistance, rezoning industrial parcels to mixed use, expedited permits, adaptive reuse fee adjustments and prioritizing core-area CIP projects to boost housing capacity.
Jonathan Taylor, the citys urban renewal manager, told the board that CAB will present an investment strategy to Burra on Dec. 17 that proposes roughly $41,500,000 in investments across several districts over the next five years.
"The investment strategy is proposed to expand $41,500,000 over the next 5 years in all the districts," Taylor said, describing five recommendations the advisory body wants council to consider. The recommendations include exploring an independent Burra financial and operational policy to allow more nimble use of loans and subordinations; establishing time-limited Bend Central District incentives such as system development charge (SDC) assistance; redesignating some industrial zoning in the core area to mixed use; expediting permit review and reducing adaptive reuse fees; and prioritizing core-area public infrastructure and CIP projects that advance housing capacity.
Taylor said CAB will also begin a "highest value property map" in January to identify priority parcels for funding, and that some proposed CIP priorities include streetlights, parks and potential relocation options for privately owned infrastructure (for example, the bottle drop structure, which CAB and staff said is privately owned and would require negotiation).
Board members asked about coordination with parks providers and borrowing capacity limits; staff said BPPRD (parks) is an ex officio CAB member and that the core-area maximum indebtedness is $195,000,000 with roughly 4% expended to date. Taylor said CAB is coordinating with BCDBA on priorities and would continue that coordination if an EID is established.
Next steps: CAB will present the full investment strategy to Burra on Dec. 17; CAB and staff expect to return to council with policy recommendations and to work with BDAB where the EID and TIF investments intersect.
