September 23, 2024 URA Agenda FRANK LONERBERWARCHAIR
CITY OF WOODBURN
DEBBIE CABRALES, BOARD MEMBER WARD I
MARK WILK, BOARD MEMBER WARD II
JEN CANTU, BOARD MEMBER WARD III
URBAN RENEWAL AGENCY SHARON SCHAUB,BOARD MEMBER WARD IV
MARY BETH CORNW ELL,BOARD MEMBER WARD V
AGENDA ERIC MORRIS,BOARD MEMBER WARD VI
SEPTEMBER 23, 2024 - 6:30 P.M.
City Hall Council Chambers - 270 Montgomery Street
1 . CALL TO ORDER
2. ROLL CALL
3. CONSENT AGENDA
A. Urban Renewal meeting minutes of June 10, 2024 1
Recommended Action: Approve the minutes.
4. PRESENTATIONS
None.
5. PUBLIC HEARINGS
None.
6. GENERAL BUSINESS
A. URG #2024.05-950 N. Boones Ferry Road - First Presbyterian Church 3
Recommended Action: Approve the Building Improvements
Program Grant Application URG #2024.05 (Program) from the First
Presbyterian Church (Applicant) in the amount of $9,310; 50% of
the sign cost of $18,620; for the property located at 950 N. Boones
Ferry Road.
B. URG #2024.06 - 573 N. Front Street I Santa Ana's Mexican 12
Restaurant
Recommended Action: Approve the Building Improvements
Program Grant Application (Program) from the owner of the
property located at 573 N. Front Street, Jesus Cuevas (Applicant),
in the amount of $10,625; 50% of the overall cost for the
replacement of building windows, fagade stucco removal and
replacement, and exterior painting (total project cost is $21,250.
C. Authorize Purchase of Property at 1030 Young Street 22
September 23, 2024 Urban Renewal Agency Page i
Recommended Action: Authorize the purchase of property
located at 1030 Young Street (Tax Lot No. 051 W 17BC06800) from
West Coast Home Solutions LLC (Seller) in the amount of$1,315,000;
and direct staff to prepare and return at the next scheduled
meeting with a Resolution to amend the Urban Renewal Plan to
include the property in the Plan and prepare a Supplemental
Budget necessary for completing the purchase; and authorize the
City Administrator to sign and execute all documents to effectuate
the purchase.
7. PUBLIC COMMENT
8. ADJOURNMENT
September 23, 2024
URBAN RENEWAL AGENCY BOARD MEETING MINUTES
June 10, 2024
DATE COUNCIL CHAMBERS, CITY HALL, CITY OF WOODBURN, COUNTY OF
MARION, STATE OF OREGON, JUNE 10, 2024
CONVENED The meeting convened at 6:31 p.m. with Chair Lonergan presiding.
ROLL CALL
Chair Lonergan Present
Member Schaub Present
Member Cornwell Present
Member Cantu Present
Member Morris Present
Member Cabrales Present
Member Wilk Present
Staff Present: City Administrator Derickson, City Attorney Granum, Assistant City Administrator
Row, Police Chief Pilcher, Economic Development Director Johnk, Community Services Director
Cuomo, Community Development Director Kerr, Finance Director Turley, Public Works Director
Stultz, Special Projects Director Wakeley, City Recorder Pierson, Planner Handel,
CONSENT AGENDA
A. Urban Renewal Agency minutes of April 8, 2024
Schaub/Cabrales... adopt the Consent Agenda. The motion passed unanimously.
PUBLIC HEARING
Fiscal Year (FY) 2024-25 Woodburn Urban Renewal Agency Budget Adoption
Chair Lonergan declared the hearing open at 6:32 p.m. for the purpose of hearing public input on the
Agency's Budget for Fiscal Year (FY) 2024-2025. City Administrator Derickson provided a staff
report. No members of the public wished to speak in either support or opposition of the budget. Chair
Lonergan declared the hearing closed at 6:36 p.m.
A RESOLUTION ADOPTING THE CITY OF WOODBURN URBAN RENEWAL BUDGET
FOR THE FISCAL YEAR (FY) 2024-25; MAKING BUDGET APPROPRIATIONS; AND
IMPOSING THE TAXES
City Administrator Derickson provided a staff report. Schaub/Cornwell... approve the resolution
adopting the budget and capital improvement plan, making appropriations, and imposing taxes for FY
2024-25. The motion passed unanimously.
A RESOLUTION AMENDING THE WOODBURN URBAN RENEWAL PLAN
Economic Development Director Johnk provided a staff report and Elaine Howard, Elaine Howard
Consulting, provided information on the proposed amendments. Schaub/Cornwell... adopt Resolution
Number 2024-02 amending Section 600 Description of Projects to be Undertaken of the Woodburn
Urban Renewal Plan and adding right of way and parcels to the Woodburn Urban Renewal Plan
boundary. The motion passed unanimously.
ADJOURNMENT
Morris/Schaub... move to adjourn. The motion passed unanimously. Chair Lonergan adjourned the
Page 1 —URA Board Minutes, June 10, 2024
1
URBAN RENEWAL AGENCY BOARD MEETING MINUTES
June 10, 2024
meeting at 6:59 p.m.
APPROVED
FRANK LONERGAN, CHAIR
ATTEST
Heather Pierson, City Recorder
City of Woodburn, Oregon
Page 2—URA Board Minutes, June 10, 2024
2
OFF Pad"Y ry Rewewd .-Agm& Item
B V'
September 23, 2024
TO: Urban Renewal Agency (URA)
FROM: Downtown Advisory Review Subcommittee (DABS)
Jamie Johnk, Economic Development Director
SUBJECT: URG #2024.05 - 950 N. Boones Ferry Road - First Presbyterian Church
RECOMMENDATION:
Approve the Building Improvements Program Grant Application URG #2024.05
(Program) from the First Presbyterian Church (Applicant) in the amount of $9,310;
50% of the sign cost of $18,620; for the property located at 950 N. Boones Ferry
Road.
BACKGROUND:
The First Presbyterian Church allowed the City to install a directional sign on their
property in 2020. At that time, the Church had expressed their interest in
upgrading their signage on the corner of Boones Ferry and Hwy 214. The city
began working with the Church on design concepts, however the urban renewal
program was put on hold for two years during COVID. In 2023, the Church
reached out once again and indicated that they were ready to once again
move forward. Working again on design assistance, the final design and initial
plans were completed in order to obtain a cost estimate.
First Presbyterian Church obtained a single estimate from the same contractor
that constructed and installed the city's directional signs. With their matching
funds in place, the Church is now ready to move this project forward and improve
their signage.
PROPOSAL:
The Applicant has provided one estimate for sign construction and installation as
they have preference of using the same contractor that installed the city's signs.
• Natalys Construction $18,620
DARS recommends that URA consider approval of this application as submitted.
3
Total URA Portion Owner Portion
Natalys Construction $18,620 $9,310 $9,310
PROGRAM CRITERIA:
• The property is located at 950 N. Boones Ferry Road and the area where
the sign 'installation is being proposed is within the Urban Renewal District.
• The proposal complies with the downtown architectural design
standards and signage, standards. Any necessary permits will be
obtained from the city.
Off, The project encourages greater marketability of the Urban
Renewal District. N/A
• The proposal will complement the existing and surrounding community.
The project will be complimentary to the existing building as well as the
surrounding buildings.
• The project design works toward restoring the building as closely to its
original design as possible. N/A
• That building interiors are improved with a focus on addressing
code- related improvements. N/A
• The project is in the public interest. The Urban Renewal Program
specifically signage improvements as an eligible improvement within
Woodburn's Urban Renewal District.
SUMMARY AND CONCLUSION:
The Program is intended to encourage and assist business and property
owners to invest in the Urban Renewal District. This Application reflects the
intent of the program by making improvements visual presence of the
property.
CONDITIONS OF APPROVAL:
1. Invoices must be submitted for reimbursement. No grant money will be
disbursed until the project is completed and is approved by the Agency.
2. Grant funds may be used for materials and services provided by licensed
contractors.
3. Projects shall be completed within one year of approval in order to be
eligible for reimbursement. Grants provide for a single payment after
receipts are provided and all completed work is accepted by the City.
4. Licensed contractors will complete all work.
4
Attachments:
• Building Improvements Application
5
❑ Building Improvement Program
❑ Fagade (Downtown) OODBUR
1,f e .1 r po r ad d 1 N'1r 0
❑ Energy Efficiency .n td (.,�f
Building Improvement Programs Application
Applying For: PSExterior Grant ❑Interior Grant ❑Design Services ❑ Facade ❑ Energy Efficiency
Applicant Information
Name:
n�i �QfJ-t I Application Date: - '7
Phone: /„ r Approval Date:
Tax ID Number CIA/
/A/ `mow Amount Awarded:
Property Owner information
Property Address: ,.1 50 Nl S F rr
Nam w6 f " rL 9 G ' ' I.V r d�hone/Email: ®� .� I 0 2-2- 61/7 S
Address: C.� �C�r/ � City��� }(� Ur S� �✓ ��
n r Sign 1 Date:
BusinJ s and/or Project Information ❑URA
Name of Business: Business Owner's Name:
Address: Phone:
City: State: Zi
Type of Business: Upper Floor Use:
C,..,ul;be'r-
Proposed Improvements
Description: P-1 h I o ' 1kc (/t,n r/+ A
� �� � � C• � n.�. � � GAS.
Estimated Cost of Improvements:$ Amount Requested:
6
CERTIFICAPON BY APPL,,,U,,NT
The Applicant certifies that all information provided in this application is true and complete to the
best c.,t- ;-;,,z cind belief. The Appli,cri,. i,ep;esents to the City that this
Agreeme,rit has been duly authorized by all necessary action on the part of the Applicant and no
other corporate or other action an the part of the Applicant is legally required. If the Applicant is
not the of t'ic to be rehabilitated, the Applicant certifies that it has the legal
authority to sign and enter into an agreement to perform the proposed work on the building.
Evidenc- ,,4'" lie attached.
Applicant a;-d agrr-es he Agency shall have no obligation to pay any persons
providing irnr, iris o,r performing labor or to cause the release of any mechanics or other liens
that rnay `,t?-k?corc,14 above property in conneCtic.n,vvith the proposed improvements.
A P icari'-, Date
ACMIOWLEEDGIVH>'rvff BVPR0,U- RTY OWNER(if different than Apphicant)
The Prc;pe �,-,y a,-Rncvj1edges all the above tern-is of this application and agrees that
-io C i"'! to pay any persons providing materials or performing labor
or to ca..--: z,-, reie�aae of ,:iy rncchaiiics or other liens ti-,at may be recorded against the above
propertV fr; the pi-oposed improvements.
*-AA
is
it
7
Prepared For
jamiejohnk
Natallys Construction Lic Estimate # 14
Woodburn, Oreg6n 97352 Date 07/12/2024
Phone: (971) 216-1289
Email: geramhdz@yahoo.com
Description
First Presbyterian Church of Woodburn
Creating a sign for the church as it's presented in the plans
Subtotal $18,620.00
Tota 1 $18,620.00
Page 1 of 2
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CYI
Y ryWx" Rewewd .-Agw& Item
B V'
September 23, 2024
TO: Urban Renewal Agency (URA)
FROM: Downtown Advisory Review Subcommittee (DABS)
Jamie Johnk, Economic Development Director
Maricela Guerrero, Economic Development Project Manager
SUBJECT: URG #2024.06 - 573 N. FRONT STREET I SANTA ANA'S MEXICAN
RESTAU RANT
RECOMMENDATION:
The Downtown Advisory Review Subcommittee (DABS) is recommending
consideration by the Urban Renewal Agency (URA) to approve the Building
Improvements Program Grant Application (Program) from the owner of the
property located at 573 N. Front Street, Jesus Cuevas (Applicant), in the amount
of $10,625; 50% of the overall cost for the replacement of building windows,
fagade stucco removal and replacement, and exterior painting (total project
cost is $21,250.
BACKGROUND:
The building owner is requesting assistance in completing the fagade repairs and
updates to his downtown building to include new windows for energy efficiency,
stucco repairs due to deterioration, and exterior paint.
PROPOSAL:
The Applicant has provided three estimates and would like to accept the lowest
Nataly's Construction.
• Nataly's Construction $21,250.00
• Pro 3.5 Construction $23,300.00
• Oregon Timber Construction $32,355.00
Total URA Portion Owner Portion
Fagade updates $21,250 $10,625 (50%) $10,625 (50%)
Agenda Item Review: City Administrator x_ City Attorney_x_ Finance_x_
12
URG #2024.06— 573 N. FRONT STREET I SANTA ANA'S RESTAURANT Page 2
FINANCIAL IMPACT:
The FY 2024-25 Urban Renewal Building Improvements Program budget has
sufficient funds to approve this $10,625 grant request.
PROGRAM CRITERIA:
• The property is located at 573 N Front Street and within the Urban Renewal
District.
• The proposal complies with the downtown architectural design
standards and signage standards. Any necessary permits will be
obtained from the city.
Off, The project encourages greater marketability of the Urban
Renewal District.
• The proposal will complement the existing and surrounding community. The
project will be complimentary to the existing building as well as the
surrounding buildings.
• The project design works toward restoring the building as closely to its
original design as possible.
• The Urban Renewal Program specifically identifies fagade repairs and
window upgrades as an eligible improvement within Woodburn's Urban
Renewal District.
SUMMARY AND CONCLUSION:
The Program is intended to encourage and assist business and property
owners to invest in the Urban Renewal District. This Application reflects the
intent of the program by making improvements to the property and
maintaining the useful life of the building.
CONDITIONS OF APPROVAL:
1. Invoices must be submitted for reimbursement. No grant money will be
disbursed until the project is completed and is approved by the Agency.
2. Grant funds may be used for materials and services provided by licensed
contractors.
3. Projects shall be completed within one year of approval to be eligible for
reimbursement. Grants provide for a single payment after receipts are
provided and all completed work is accepted by the City.
4. Licensed contractors will complete all work.
13
URG #2024.06- 573 N. FRONT STREET I SANTA ANA'S RESTAURANT Page 3
Attachments:
• Building Improvements Application
14
Jilding Improvement Programade (Downtown) WbODBURN
i
❑ Energy Efficiency
v
L uilding Improvement Programs Application
Applying r: terior Grant ❑Interior Grant ❑Design Services %Fagacle ❑ Energy Efficiency
Applicant Inform `
Name: Jesus Cuevas
Application Date:
Phone: 408-718-4299 Approval Date:
Tax ID Number: Amount Awarded:
Property Owner information
7
Property Address:
573 N Front St. Woodburn Or. 97071
Name: Jesus Cuevas 408-7184j6ge/Email, citycertifiedbackflow@gmail.com
Address: 543 Bonanza Dr, Newman, CA 95360 city: ST: Zip:
Owners Signature: 4Date: 08 27 2024
Business and/or Project Information ❑URA
Name of Business: Business Owner's Name:
Santa Anas Mexican Restaurant Jesus Cuevas
Address: Phone:
573 N Front St. Woodburn, Or. 97071
City: State: Zip:
Type of Business: Upper Floor Use:
Mexican Restaurant NO
Proposed Improvements
Description:
New stucco to be replaced and new windows to be installed as well. A little face lift to the top floor
of buidling .
Estimated Cost of Improvements:$ Amount Requested:
$20,000—$25,000
15
CERTIFICATION BY APPLICANT
The applicant certifies that all information provided in this application is true and complete to the best of the applicant's knowledge and belief.The applicant represents
to the city that this agreement has been duly authorized by all necessary action on the part of the applicant and no other corporate or other action on the part of the
applicant is legally required.If the applicant is not the owner of the property to be rehabilitated,the applicant certifies that is has legal authority to sign and enter into
an agreement to perform the proposed work on the building.Evidence of this legal authority must be attached.
Applicant acknowledges and agrees the agency shall have no obligation to pay any persons providing materials or performing labor or to cause the release of any
mechanics or other liens that may be recorded against the above property in connection with the proposed improverents
08/27/2024
Appl ants Signature Date
ACKNOWLEDGEMENT BY PROPERTY OWNER(IF DIFFERENT THAN APPLICANT)
The Property Owner hereby acknowledges all the above terms of this application and agrees that the agency shall have no obligation to pay any persons providing
materials or performing labor or to cause the release of any mechanics or other liens that may be recorder against the above property in connection with the proposed
improvements
Property Owners Signature Date
Staff Use Only
Documents needed:
(l Project Budget
El Contractor Bids (if they have
16
Prepared For
a'
Jesus
Natalys Construction Llc Estimate # 24
Woodburn, Oregon 97352 Date 08/23/2024
Phone: (971) 216-1289
Email: geramhdz@yahoo.com
Description
Santana Restaurant
573 N Front St,Woodburn
Remodel face of building
Change 4 windows-$7,380
Remove canopy to once face of building is remolded then reinstall-$1,800
Remove old stucco and put new stucco -$10,370
Paint building-$1,700
This includes labor and materials
Subtotal 0.00
Total $21,250.00
I
Page] o
17
u,.x. Prepared For
Jesus. (santanas Restaurant)
573 N Front St
Woodburn , Oregon 97071
Pro 3.5 Construction LLC Estimate # 77
15113 Pine St Date 08/26/2024
Jefferson, Oregon 97352 PO # 240015
Phone: (971) 216-2858
Email: pro3.5constructionlic@gmail.com
Description
santanas restaurant remodel
*remodeling front of building
-removing four windows and disposing of them
-installing four new windows
-removing overhang canopy in order to do front store remodel and reinstalling at the end
-deconstruct old stucco on face of building and dispose of all debris
-install new stucco on building
-paint building to client chosen colors
Subtotal =$23,300.00
Total $23,300.00
Deposit Due $11,650.00
pa je 1 of"
18
Oregon Timber Construction LLC
Contractor Agreement
This contract is made on the August 25TH, 2024
For the project located at 573 N Front Street Woodburn OR 97071
Between:Will Rodriguez(Contractor) And:Jesus J Cuevas
Oregon Timber Construction, LLC Property Owner
755 SW Dennis Ave Hillsboro OR 97123 573 N Front Street
503-830-1836 Woodburn OR 97071
CCB#191460 CCB#
E-mail: oregontimber@gmail.com E-Mail:citvicertifiedbackflow@gmail.com
This agreement is as follows:
ARTICLE 1 FRAMING:
Scope of Work: Building Remodel:573 N Front Street Woodburn OR 97071
Oregon Timber Construction LLC has entered into agreement with Jesus J Cuevas to furnish all labor
and materials to perform all work described below in accordance with the construction documents:
• Oregon Timber Construction LLC will demo all per-existing STUCCO/PLASTER on the Southside of
the building facing North Street/Front entrance.
• OTC LLC will DEMO/REMOVE four windows on the Southside of the building facing North street/
Front entrance.
• OTC LLC will remove front Canopy for the STUCCO/PLASTER remodel.
• OTC LLC will install four new window on Southside of the building facing North street/front
entrance. Window trim materials and color TBD.
• OTC LLC will install new STUCCO/PLASTER according with state codes and manufacturer
guidelines. This agreement does not cover interior structural damages, additional structural
work will be a change order. All STUCCO/PLASTER finishes will comply with pre-existing
architectural or approved finish by CITY/JESUES 1 CUEVAS.
• OTC LLC will primer and paint South side of the building facing North Street/Front entrance.One
coat of LOXON water base exterior primer and two coats of DURATION water base exterior paint.
All primer and paint will be sprayed and back rolled for proper installation. Color TBD, Primer
and paint from Sherwin Williams.
• OTC LLC will reinstall canopy,all fasteners will be weatherproof. OTC LLC will not be responsible
for old canopy in the case of where/tear from the remodel.
19
• OTC LLC will be responsible for building access and follow all safety guidelines with state and
OSHA regulations. Cones and safety tape will be used for foot traffic safety.Work area will be
close as needed for safety.Garbage will be swept and cleaned per minute due to the main
entrance and safety of the building access for foot traffic.
• OTC LLC will pressure wash sidewalk on the South Side facing the North Street/Main entrance.
• OTC LLC will provide all equipment needed for the remodel, Ladders,scaffolding,forklift,EXT......
• OTC LLC will haul away all garbage debris.
• Oregon Timber Construction LLC does not warranty any lumber,defective or not, including but
not limited to bowing,cracking,splitting,warping,twisting,swelling,shrinking or design.
ARTICLE 2. Pa7cost
ms
2.1 ot2,355.00
ARTICLE 3.Change Orders
Jesus J Cuevas understands and agrees that no change orders or contract additions will
be made unless agreed to in writing by Contractor. No alterations,additions,or small changes
can be made in the work or method of the performance,without the written change order
signed by OTC LLC.
• Time will be charged at$155.00 per hour per man.
ARTICLE 4. Clean Up
Oregon Timber Construction LLC will be responsible for piling construction debris at a designated
area,To be determined prior to start of construction. OTC LLC will also be responsible for cleaning up
the job on a daily basis, including all drink cans,food wrappers, and/or other trash. OTC LLC will be
cleaning the floors/sidewalk at completion of construction. OTC LLC will be responsible for removal of all
construction debris from the job site.
A facsimile copy of the signature page of this agreement will constitute an original signature.
20
Sub-Contractor: Contractor:
Oregon Timber Construction, LLC Building Owner
By:Will Rodriguez By:Jesus 1 Cuevas
Date: Date:
21
u .49 reut
8
a 1,d f;' 7
September 23, 2024
TO: Urban Renewal Agency Chair and Members
FROM: Jamie Johnk, Economic Development Director
Scott Derickson, City Administrator
SUBJECT: Authorize Purchase of Property at 1030 Young Street
RECOMMENDATION:
Authorize the purchase of property located at 1030 Young Street (Tax Lot No.
051 W 17BC06800) from West Coast Home Solutions LLC (Seller) in the amount of
$1,315,000; and direct staff to prepare and return at the next scheduled meeting
with a Resolution to amend the Urban Renewal Plan to include the property in
the Plan and prepare a Supplemental Budget necessary for completing the
purchase; and authorize the City Administrator to sign and execute all
documents to effectuate the purchase.
BACKGROUND:
In 2001, the City adopted an Urban Renewal Plan ("Plan") that includes a list of a
variety of activities and projects contemplated for the City to undertake to
eliminate blighting influences and implement identified goals and objectives of
the City. One of the goals of that Plan includes Housing:
G. Housing
Goal: Provide for new and rehabilitated housing units in livable
mixed-income neighborhoods that collectively reflect a diversity of
housing types, occupancy (rental and owner-occupied), and
income levels in the City. Support housing development that is
geared to support the Area's generation goals.
Objectives:
1 . Provide a wide range of housing opportunities to
accommodate households at all income levels, including low
income, moderate-income, and market-rate rental and
Agenda Item Review: City Administrator_x City Attorney_x Finance_x_
22
Honorable Mayor and City Council
September 23, 2024
Page 2
owner-occupied housing, which support prospective
residential markets in, adjacent to, and near the Area.
2. Provide assistance to help maintain and assist in the
rehabilitation of the stock of existing housing in the renewal
area.
3. Assist in the development of quality housing for a range of
that household incomes that are representative of the City as
a whole.
Per Section 600.D of the Plan, in order to carry out the objectives of the Plan, the
Renewal Agency is "authorized to acquire land or buildings for public and private
development purposes." In order to acquire land, the Renewal Agency will need
to complete a minor amendment to its Plan documents, which it can adopt via
Resolution.
DISCUSSION:
Over the past few months, City staff have identified two vacant parcels of
property that have been marketed for sale for residential development. The
parcels include plans entitled and vested in the property: The Young Street
Market residences have been designed and approved as a 4-building apartment
complex with 94 total units ready to build on the site of 1030 Young Street.
Through arms-length negotiations utilizing the City's Realtor, Alex Rhoten (Coldwell
Banker Commercial Mountain West Real Estate), the City reached an agreement
to acquire the parcels from the Seller for an overall price of $1 ,315,000. This will
include buying the larger 2.85 acre vacant parcel located within the URA
boundary for the $1,315,000. The second, smaller 0.66 acre parcel will then be
donated to the City by the Seller. The purchase arrangement also includes the
Seller providing the City with all development plans and approvals, drawings, and
architectural/engineering designs already completed for the development and
build out of the property.
Following acquisition of the property, the City, through the Urban Renewal
Agency, would then be in a position to partner with a nonprofit or community
housing corporation to construct and provide low- to moderate-income housing
(affordable housing) opportunities on the site. At a minimum, the City would hold
ownership of the properties for at least three years.
The parcels being considered for acquisition include the following property
located at 1030 Young Street (the parcel outlined in red will be purchased; the
parcel outlined in green is being donated by the Seller):
23
Honorable Mayor and City Council
September 23, 2024
Page 3
v /
r:
i
� Pr
24
Honorable Mayor and City Council
September 23, 2024
Page 4
Below is the proposed Site Plan that has been approved for Residential
Development at the Property:
V
r
I
r, a
DR.22 06 plain Sheet LU.01 site plan(North is to the..right..)
FINANCIAL IMPACT:
The purchase price of the primary 2.85-acre property at 1030 Young Street will be
in the amount of $1 ,315,000 with additional closing, brokerage, and appraisal
costs for a total urban renewal investment of $1 ,350,000. Since the smaller 0.66-
acre adjacent property is located outside of the City's URA boundary, it will be
donated by Seller. As part of the acquisition of both parcels, the City has agreed
that it will complete an appraisal of the properties and provide the Seller with a
charitable receipt for any value donated above the purchase price for the
properties.
In order to accomplish the purchase of the identified property, the City's general
fund will provide the Renewal Agency with an interfund loan for the amount of
the purchase price, which will include a 10-year repayment plan schedule
secured by the URA's Tax Increment Financing (TIF). City staff will return at the
following meeting with an Intergovernmental Agreement (IGA) specifying the
25
Honorable Mayor and City Council
September 23, 2024
Page 5
terms of that loan and a Supplemental Budget that will include the expenditure
authorization necessary to complete the purchase of the property.
26