strict warning: Only variables should be passed by reference in /chroot/home/ctodorg/ctod.org/html/portal/modules/book/book.module on line 559.

IV. Strategic Recommendations for the TOD Program

Metro’s TOD Program has built a strong foundation as a successful tool for implementing transit-oriented development and the broader 2040 Growth Concept. But there are opportunities to strengthen and refine existing program activities, and to explore the potential for new activities that continue to meet the evolving needs of the region. The following recommendations seek to position the TOD Program as a key implementation tool, while also broadening the partnerships and ensuring the outcomes of program investments maximize the benefits of Metro’s funds by leveraging additional resources.

Recommendation Category

Identified TOD Investment Strategies

A. Non-capital investments

Education / Technical Assistance / Resource Provision

Station Area Planning

Implementation and Pre-development Studies

B. Public Infrastructure

Infrastructure and Public Amenity Improvements

C. Transit-oriented real estate development and TOD Grants

Catalytic Market-Rate TOD Projects

Equitable TOD

Urban Living Infrastructure

Employment Uses

D. Property Acquisition and land banking

Land Acquisition

These recommendations are intended to provide Metro staff with a menu of possible actions to pursue depending on whether new financial resources can be secured, and whether these actions would help achieve TOD readiness by catalyzing change and leveraging related programs falling under the purview of other public agencies.

To support the Program in expanding its existing activities and exploring the potential for new areas of TOD implementation, this section makes recommendations for ways to modify and expand the scope of the TOD Program by leveraging new funding sources, in order to meet the significant needs for TOD investment identified in previous chapters. The recommendations include lessons learned from the experiences of other MPOs or COGs that are relevant to Portland Metro. This section organizes activities into four major categories that are generally distinguished from one another based on funding and financing resources:

  1. Non-capital investments including planning, education & implementation/predevelopment studies;
  2. Public infrastructure including access, utility and amenity improvements;
  3. Transit-oriented real estate development projects and TOD Grants ; and
  4. Property acquisition and land banking.

These categories address the activities identified and discussed in Chapter 3 as follows:

Recommendations Summary

Figure 34: Summary of recommendations, implementation needs, and funding options18

Action

Implementation Needs

Funding Options

Programs/Agencies To Leverage (If Any)

A. Non-Capital Improvements

TOD staff participate in station area planning processes

None - Existing activity in program

Corridor project funds

Metro General Funds

Metro Corridors Projects

Local Jurisdictions

Leverage other resources toward comprehensive station area planning and supportive land use regulations

Short-Term: Identify staff resources necessary for further engagement with local jurisdictions.

No additional funding needed; may require additional staff time.

Metro Corridors Projects

ODOT TGM Grants

Local Jurisdictions

Develop discrete grant program for predevelopment & implementation studies in station areas and corridors

Short-Term: Shift more program investment to these activities until the real estate market recovers.

Mid- to Long-Term: Tie TOD planning into corridor projects and transportation funding

Need to secure permanent funding source. Tie into larger infrastructure capital improvement funding sources.

Metro Transportation Planning Program

Other programs and agencies with responsibility for funding infrastructure improvements

Expand current education and outreach program using staff resources

Short-Term: develop work program and staffing needs.

Fee-for-service from local jurisdictions

Metro General Funds

Inclusion in federally funded UPWP

Local Jurisdictions

B. Infrastructure and Amenities

Continue to invest in Urban Living Infrastructure improvements, and promote mixed-use development where appropriate. Modify ULI investment criteria to include additional transit areas.

Short-Term: modifications to current ULI criteria

Existing MTIP funding interest earnings

Local Jurisdictions

Expand capital improvements grants to include infrastructure; work to secure portion of Community Investment Fund measure for TOD infrastructure

Short-Term: Shift more program investment to these activities until the real estate market recovers

Mid- to Long-Term: Community Investment Fund or other possible new sources for infrastructure funding

Existing MTIP funding

Community Investment Fund

Other programs devoted to infrastructure planning/funding at all scales (federal, state, regional, and local)

C. Transit-Oriented Real Estate Development and TOD Grants

Dedicate MTIP funds exclusively to TOD capital improvements; shift staff operations to Metro funds

Short-Term: Metro Council approval for funding sources and levels.

Metro General Funds

Metro

Develop a strategy and priority locations for investment in equitable TOD.

Short-Term: Work with stakeholders develop a strategy around equitable TOD and identify future funding needs and leveraging opportunities.

Medium- to long-term: Explicitly define priority locations and investments in equitable TOD.

Metro General Funds for developing strategy.

Potential funds for implementation or investment through Community Investment Strategy

Local housing departments

Oregon Housing and Community Services

Affordable housing developers

Community Development Corporations

Enterprise Community Partners

Support Employment or Destination Uses to Advance the 2040 Growth Concept

Existing informal activity in program. Consider more active promotion of employment/destination projects.

No additional funds needed

Other Metro Programs will also focus on Centers and employment areas

Coordinate with other regional and state programs

Short-Term: Coordinate with other programs

Mid- to Long-Term: Work to add transit proximity to Oregon LIHTC allocation

LIHTC (Leverage)

New Markets Tax Credits (Leverage)

Local Sources of Funds (Leverage)

Metro Regional Travel Options Program

Local jurisdictions

Oregon Housing and Community Services

D. Property Acquisition and Land Banking

Evaluate Program intentions regarding property acquisition

Short-Term: staff review of program priorities

No additional funds needed – staff time

Local jurisdictions

Develop guidelines for strategic disposition of current and future acquisitions

Short-Term: disposition strategy for current properties

Ongoing: disposition strategies for acquisition opportunities as they arise

No additional funds needed – staff time

Local jurisdictions