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Financial Analysis

Financial Feasibility Analysis

Residual Land Value Analysis

Least Cost Location Analysis

Public/Private Partnerships

Urban Renewal Analysis

Metro:
Urban Center Density Study

Johnson Economics prepared an evaluation of the market and financial characteristics of development limiting achievable densities in Metro’s designated "2040 Centers" areas. The study was intended to document the causes underlying widespread development at densities below those targeted and to identify factors that would increase marginal development densities. The investigation identified barriers to increased density and mixed-use development in areas specifically re-zoned to permit higher-density development. The analysis examined issues of development timing, local government structure, competition between centers, financial feasibility of higher-density development, and the impact of commercial development.

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Cheyenne, WY Downtown Development Authority:
 Urban Renewal Feasibility Report

Johnson Economics completed a URA Feasibility study for the City of Cheyenne in 2019, evaluating appropriate boundaries for a new district and revenue forecasts.  Based on the feasibility study, the City decided to move forward with the development of an Urban Renewal plan and accompanying report in 2013. The plan is aimed at revitalizing and encouraging redevelopment in the town center and approaching the commercial corridor. It includes funds to stimulate façade improvements and renovation of buildings, as well as promoting the acquisition of key sites in the area by the Urban Renewal agency to steer future development.

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Warrenton, OR:
Urban Renewal Plan and Report

Johnson Economics conducted an Urban Renewal Feasibility study of the downtown and the Warrenton marina. Based on the resulting analysis, the City Commission (council) decided to proceed with establishing an Urban Renewal Agency and preparing an Urban Renewal Plan and Report. The purpose of the plan is to create an incentive for small tourist-oriented businesses and residences to be developed in the downtown area. In addition, the district includes the city’s marina which has substantial deferred maintenance. The district also includes vacant land adjacent to Highway 101 where major new commercial development is either under construction or planned. This area will provide the tax increment revenues to improve the downtown and the marina.

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City of Hillsboro: Development Areas Financial Tools Analysis and Strategy

In the fall of 2013, Johnson Economics worked to develop an assessment of financial tools and a coordinated infrastructure phasing strategy for the City of Hillsboro. The key objective of this analysis was to determine the most strategic, effective, and appropriate use of available and prospective financial tools to implement four target area development plans. In our work for this project, Johnson Economics developed a series of interactive financial models to address greenfield and redevelopment areas. Our approach collectively considered private sector feasibility gaps for targeted site-level development forms, an assessment of the viability and appropriateness of financial tools (Urban Renewal, LIDs, SCDs, Bonding, MSTIP, etc.) for each planned infrastructure asset, and the fiscal impact or return on investments to the City from eventual development activity. The model used in this analysis is under consideration for future planning objectives in Hillsboro, including a more detailed site-specific Infrastructure Financing Plan for the North Hillsboro Industrial Area.

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City of Hillsboro: Industrial Urban Renewal Area Feasibility Report and Plan

Johnson Economics completed a feasibility report for an urban renewal area to cover a significant regional industrial concentration recently brought into the Portland metropolitan area’s Urban Growth Boundary (UGB). The URA's objectives are to allow financing of necessary infrastructure to successfully actualize these sites on the market, primarily concerning improved roads, utilities, stormwater, and trail systems. The approach includes an innovative phasing strategy, proffering preliminary engineering of improvements as substantial investments are attached to identified development projects.

 

Johnson Economics recently completed the second phase of establishing a new URA in north Hillsboro, observing the preceding feasibility study. The first phase established City goals and objectives for a new URA, identified multiple iterations of prospective URA borders, and forecasted Tax Increment Financing (TIF) revenue from the district to pay for the proposed projects.  This project applied meticulous analysis of prospective development on individual parcels, including estimated square footage, land uses, new employment, and incentive programs used. The City Council adopted the Plan and Report in 2015.

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Updated Revenue Forecasts for Multiple Urban Renewal Areas: Prosper Portland

In 2014, Johnson Economics completed a revised TIF revenue forecast for three of Portland’s established URAs while considering recent and newly forecasted development alongside potential boundary changes. This analysis included the same type of financial projections used in an initial feasibility study, or formal UR Plan and Report preparation. The research provided part of the technical basis for substantial changes to Portland’s Urban Renewal program adopted by the City Council in 2015.

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The Belbadi Group: Vancouver center

Johnson Economics produced a market analysis and prepared a series of detailed financial analyses for a mixed-use urban development to be located in downtown Vancouver, Washington. Work was completed over two years from 1999 through 2001. The analysis included pro-forma financial analyses of alternative development programs, a return-on-investment analysis for the City of Vancouver, as well as financing and ownership permutations. The focus of the analysis was to determine the optimal structure in light of financial objectives. The firm conducted financial analysis while overseeing the market analysis. The project represents a public-private venture between the developer and the City of Vancouver; it includes rental apartments, retail, office, and condominium components on a two-block site adjacent to Esther Short Park. 

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City of Hillsboro: Industrial Urban Renewal Area Feasibility Report and Plan

Johnson Economics completed a feasibility report for an urban renewal area to cover a significant regional industrial concentration recently brought into the Portland metropolitan area’s Urban Growth Boundary (UGB). The URA's objectives are to allow financing of necessary infrastructure to successfully actualize these sites on the market, primarily concerning improved roads, utilities, stormwater, and trail systems. The approach includes an innovative phasing strategy, proffering preliminary engineering of improvements as substantial investments are attached to identified development projects.

 

Johnson Economics recently completed the second phase of establishing a new URA in north Hillsboro, observing the preceding feasibility study. The first phase established City goals and objectives for a new URA, identified multiple iterations of prospective URA borders, and forecasted Tax Increment Financing (TIF) revenue from the district to pay for the proposed projects. This project applied meticulous analysis of prospective development on individual parcels, including estimated square footage, land uses, new employment, and incentive programs used. The City Council adopted the Plan and Report in 2015.

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Downtown Gladstone Revitalization Plan

Johnson Economics recently led a multi-disciplinary team, including APG, to plan for the future of Portland Avenue in downtown Gladstone, Oregon. The traditional main street of this suburban community, Portland Avenue has not experienced significant development or reinvestment for some time. The street facility is currently in need of rehabilitation and does not accommodate other modes of transportation well, such as bikes and pedestrians.

The project successfully resulted in an adopted Downtown Revitalization Plan, transportation concept plan, and implementation strategy to help alleviate identified shortcomings and encourage new development of housing and commercial real estate. The strategy identified policy, code, financial, and other implementation tools to help make the plan a reality. The City is currently undertaking the first set of recommended measures, including code revisions, and prioritizing street improvements in the area.

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​City of Forest Grove: Times Litho Property

Johnson Economics provided strategic market and development analysis in determining potential redevelopment options for a series of properties acquired by the City of Forest Grove. The research included an assessment of appropriate market variables and assumptions, as well as schematic pro forma development to inform the evolution of a request for proposals for expansion. The work included significant interaction with a local advisory committee and City Council to develop market and policy-acceptable evaluation criteria. 

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Urban Renewal Feasibility Study, Plan and Report: Forest Grove, OR, and Hermiston, OR

Johnson Economics completed a URA Feasibility study for the City of Forest Grove in 2012, evaluating multiple prospective options for district boundaries. Based on the feasibility study, Forest Grove continued developing an Urban Renewal plan and accompanying report in 2013. The plan aims to revitalize redevelopment in the town center and encourage its approaching commercial corridor. The project includes funds to enable façade improvements and renovation of buildings, while the Urban Renewal agency's acquisition of significant local sites to steer future growth.

Johnson Economics also completed a URA Feasibility study for the City of Hermiston's historic downtown, followed by a plan and report adopted in 2013. The project included extensive outreach to stakeholders to communicate the plan's objectives and achieve community buy-in. This research led to Hermiston's first Urban Renewal district and the formation of the area's premier Urban Renewal agency.

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Urban Renewal Plan and Report: Boardman, OR

In 2013, Johnson Economics completed a URA plan and report for the City of Boardman's west side. The district aims to encourage housing development in an area underserved by infrastructure, thus limiting its development opportunities. The work done by our team will assist the City in realizing its goal to better accommodate its local workforce, both by encouraging more housing and a greater diversity of housing types.

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