Figure 1: TOD Program & other Development Center Activities that Support TOD
Current Activities |
Program Description |
Scale of Program |
Funding Sources |
TOD capital |
Grants toward physical real estate improvements in TODs in Metro-designated station areas and corridors; goal is to lower the cost premiums associated with higher density development & establish market; mainstay of TOD program. Grants are typically available on a three installment basis - at close of financing, completion of shell construction & granting of certificate of occupancy. |
Approximately $14.9 million over the life of the program (51% of total expenditures)). Individual grants have averaged $300,000, but range widely with a ceiling of $500,000. |
Metropolitan Transportation Improvement Program (MTIP) funds, including Urban Formula Grants, Surface Transportation Program and Congestion Mitigation & Air Quality Improvement Program funds. These funds are traded for TriMet farebox revenues to increase the flexibility of funding allowances. Approximately $2.9 million in MTIP funds are allotted to the Program annually. |
Land acquisition |
Land banking around suburban stations, most acquisitions prior to 2005. |
$8.5 million over the life of program (29% of total expenditures); FY 2009/2010 - one transaction (Gresham Tri-Met ROW). |
Originally, the Program received a direct federal transportation grant for land banking. More recently, MTIP funds have been used. |
Program |
Approximately 5 full-time employees. Operate grant programs; perform outreach to local jurisdictions and stakeholders. |
Approximately $600,000 FY 2009/2010. |
MTIP funds (see TOD Capital Improvements, above). |
Urban Living |
Grants toward fixed tenant improvements that promote commercial activity (i.e. HVAC system necessary to restaurant operation); grants issued to projects in areas where Metro owns property (i.e. Beaverton, Hillsboro). |
$165,000 for pilot program budget FY 2009/2010. |
Interest on other funding sources. |
Green improvements |
Green Building Program - grants towards green improvements. |
$280,000 total. No expenditures FY 2009/2010. |
Business Energy Tax Credit allocation; one-time only source. |
Green Innovation Fund (pilot) - grants towards technologically innovative green demonstration projects in urban settings. While not designated as TOD-specific, TOD locations receive preference. |
$200,000 in total pilot program budget over two fiscal years; grant size ranges from $15,000 to $60,000. |
Metro general funds; 2009/2010-2010/2011 only. |
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Implementation |
Development Opportunity Fund (pilot) - grants toward predevelopment activities that catalyze urban development (i.e. development/ market/ urban renewal feasibility studies & strategies; downtown retail tenanting efforts; walkability audits). While not designated as TOD-specific, TOD locations receive preference. |
$270,000 in total pilot program budget over two fiscal years. |
$200,000 - Metro general funds; 2009/2010-2010/2011 only. $70,000 - base Development Center budget allocated to Fund. |
NOTE: Outside of the DOF, the TOD program makes occasional grants toward implementation studies (i.e. Metro Parking Air Rights Study, $40,000, FY2009/2010); however, there is no dedicated allotment of program budget towards predevelopment activities. |
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Educational/ |
"Get Centered" programs, quarterly half-day workshops educating key members of public regarding urban centers & promoting infill and redevelopment. |
Limited to significant staff time expenditure. |
Source: TOD Program Annual Report June 2009 - July 2010, August, 2010; Metro TOD Revenue and Expenditures FY 2009 - 2010; interviews with Lisa Miles and Meganne Steele (August 18, 2010).