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Council approves OTIB loan commitment to fund Dakota Street signal project
Summary
Council approved Resolution 2025.18 to accept an updated OTIB loan commitment for the Dakota Street signal project after staff reported ODOT-provided engineering updated the loan amount to roughly $1,000,000; funding sources include development charges, urban renewal dollars and state gas tax.
Council accepted an updated loan commitment from the Oregon Transportation Infrastructure Bank for the Dakota Street signal project. Community development staff reported that earlier loan figures were understated and that ODOT provided engineering services to refine the amount; staff described the updated figure as about $1,000,000. Staff said funding for the loan repayment will come from a combination of west-side development charges, urban renewal funds and a portion of state gas tax revenue.
Staff emphasized the project supports long-term traffic management tied to continued commercial and residential development on the west side, and noted that some federal criteria are avoided by pursuing the project this way, reducing cost. Councilors asked about timeline and triggers for construction; staff said engineering and bidding will take time and that the ODOT commitment includes performance timelines.
A motion to approve Resolution 2025.18 (OTIB loan) was moved, seconded and approved by recorded council vote.
