THPRD Board OKs Beaverton's urban renewal plan
Tualatin Hills Park and Recreation District board members Monday evening supported the city of Beaverton's proposed $151 million urban renewal plan for the central business district.
While questioning the expected loss in property tax revenue, board members were enthusiastic about city proposals - such as the uncovering or 'daylighting' of Beaverton Creek and extensive streetscaping projects - that through bond funding could enhance property values and the city's quality of life.
Community Development Director Don Mazziotti said the long-term increase in property values would more than make up for forgone property tax revenues urban renewal entails.
'Everyone will have to forgo some portion of the tax base,' he said, noting that projects funded with 30-year bonds would be reviewed at the 20-year mark. 'We are interested in everybody in the community getting involved (so) we can have a central district that's attractive, functional and safe.
'Now is the time to act, when property values are low.'
Park district board member Joe Blowers expressed enthusiasm over the proposal to uncover Beaverton Creek to enhance the beauty and viability of downtown.
'I've long advocated the daylighting of the creek,' he said. '(Urban renewal) is by far the best possibility' in a long time for the vision to become reality.
The urban renewal issue is expected to be on the November election ballot.