Talent Urban Renewal Agency West Valley View 2015

Report Title
Talent Urban R enewal Agency West Valley View 2015 Report Title
Background
West Valley View project including investment in a
new downtown street network, conceived in 2004 as a
way to open up approximately 15 acres of
undeveloped land immediately adjacent to the historic
core, resolve a dangerous and confusing downtown
intersection, and increase transportation capacity for a
town projected to double in 20 years.
Extensive public input went into envisioning the future
land uses and 3-leg roundabout concept. It also
included identification of a new site for a popular
community theater and public plaza design to be
created as an amenity for future mixed use
development.
Phase I which will extend Main Street to a new
roundabout and create a new 36-space “parking
street” will be fully completed in Fall 2015, with
construction of the public plaza on excess right of way
near the roundabout. Construction has taken five years
in response to available funding and right-of-way
acquisition. In 2008, there was also a request from the
City for the URA to sunset three years early, which
impacted borrowing capacity at a time when the
actual land and construction costs were unknown.
Community Benefits
The project makes future development more
attractive because it has invested public funds
in a roadway system that opens up 15 acres
of landlocked land for mixed use development
while maintaining a traditional grid-type
street pattern
Improves downtown traffic flow by eliminating
a congested T intersection that will not be able
to meet the future needs of the town if
population doubles as projected
The project has attracted the interest of
developers, a few longtime business owners
have purchased property within the area, and
light industrial property has been purchased
south of the downtown by investors liking what
they see happening as a result of TURA’s
downtown projects
This is a long-range plan that will not see the
overall impact on AV until after the UR district
terminates 2019
The final leg of the roundabout, Phase II, has been
engineered and ready to construct whenever right-ofway negotiations are successful. The success of Phase 1
and improving economy has resulted in the City doing
away with the early sunset date for TURA and hopes
for Phase II to be built before 2019.
Camelot Theatre, a small community theater in the
heart of downtown Talent, operated in a former feed
store on land that was acquired for Phase I road
construction.
After
two-and-a-half
years
of
negotiation, a win-win solution was created with TURA
purchasing the adjacent lot so Camelot could build a
new state-of-the-art theater under a leaseback
arrangement. To accommodate parking for the
theater and future business, TURA designed a double
wide “parking street” in lieu of a traditional parking
lot; today, the 100-seat theater is a key anchor to the
downtown and enjoys sold out performances year
round.
Camelot Theatre
Funding/Leverage
TIF: Phase I-$2.75 million; Phase II-TBD
ODOT/STIP: Phase I-$1 million
Parking street adjacent Camelot Theatre