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Committee seeks annual report on enterprise fund; staff updates Grandview affordable‑housing plan with $2M ARPA support
Summary
Staff described the city’s economic development enterprise fund that manages city‑owned properties and leases and agreed to provide an annual categorized performance report; the committee also heard an update on the Grandview redevelopment, which includes a development agreement and $2,000,000 in ARPA funds for pre‑permitting and infrastructure.
Economic development staff briefed the committee on the city’s enterprise fund, which manages city‑owned properties and leases. Staff said the fund insulates general taxpayers from property maintenance and lease costs and that most leases have been renegotiated recently; one lease was amended in 2023 to cover utilities in rent terms, and staff reported the portfolio has at least broken even over the past five years.
Several councilors pressed for more transparent performance metrics. Councilor Mallard and others asked for a categorized annual report listing properties, revenues and expenses so the committee and council can evaluate options — including long‑term leasing versus selling. Staff agreed to include an enterprise fund report in the upcoming budget packet.
Separately, staff summarized the Grandview site redevelopment. The city selected Developers Collaborative (Portland) after an RFP; the project targets households earning roughly 80–120% of area median income, and the development agreement dedicates $2,000,000 of ARPA funds to cover pre‑permitting and infrastructure costs for the parcel. Staff said a formal development plan and pro forma will be presented to the committee and council in April, and construction is anticipated to begin in spring/summer on a phased schedule.
Next steps: staff will deliver the enterprise fund report as part of the budget package and return with a formal Grandview development presentation for committee and council review.
