Recording in progress.

All right.

Good evening and welcome to the March 23rd, 2026 Twalton Development Commission.

I'll go ahead and call this meeting to order.

First item on our agenda is public comment.

Do we have anyone in the room or in Zoom who would like to provide public comment to the development commission?

No hands in the room.

Anyone in Zoom?

Right?

Councilor Shock.

That brings us to consent.

We have one items on one item on consent tonight.

Consideration of approval of the Tualton Development Commission meeting minutes of December 8th, 2025.

Any discussion on those consent agenda.

I move that we adopt the consent agenda as read.

Second.

All those in favor say aye.

Aye.

Aye.

Opposed.

Abstentions.

It's unanimous.

That brings us to general business.

Item number one, consideration of resolution number 646-26 of the Tualton Development Commission approving the termination of the Leviton Tax Increment District and the Levanton Tax Increment District Plan.

Welcome, Quinn and Sid.

Awesome.

Good afternoon, uh Chair Bubinick and members of the Commission.

I'm a Sid Sinn, Urban Renewal Economic Development Manager.

And with me this evening is Quinn Brunner, Urban Renewal Economic Uh Development Policy Analyst.

And we have uh three items before the Commission's consideration for this evening.

The first is the Levington District Closure of the Urban Renewal District.

The second item is an update on the uh downtown uh revitalization process.

And then the last item is a uh request for a uh support letter for a Metro 2040 grant.

And uh with that, Quinn is going to be doing the presentations for all three items this evening.

Thank you, Sid and uh Chair Bubenick, a mayors of the commission.

Thank you for the opportunity to present this evening.

Um so um as Sid mentioned, my name is Quinn Bruner.

I'm a member of our urban renewal uh uh uh urban renewal team, um, and our first item of business tonight is the closure of the Leviton Tax Increment District.

So I have a uh five-minute presentation about eight slides for you, um, and then we'll be happy to answer any questions before consideration of resolution uh 646-26.

So the uh Levanton uh tax increment district uh shown here is uh it epitomizes the transformative power of urban renewal.

Um created in 1985, this district was composed largely of agricultural land, light industrial uses, and a gravel mine.

Uh there were a few utilities, roads, or public improvements, and the total assessed value was $3.7 million.

Now, through $36 million of strategic public investment, this district catalyzed decades of sustained private investment and transformed this area into a regional hub with an assessed value of 259 million dollars.

So I just really want to drive that home.

It went from $3.7 million to $259 million, a 74-fold increase over the 35-year life of this district.

Um this returned um about $3.5 million of annual benefit to taxing jurisdictions, including a significant portion to the city's general fund.

Um and it facilitated the creation of 35 new employers and uh 2200 permanent jobs.

So this is the this is the power of urban renewal investment.

So how did um the Twalton Development Commission do this?

Right.

Uh the TDC completed 14 projects during the life of the district, most notably um installing utilities in all of the streets in the district, um completing uh 118th Avenue as well as constructing 124th Avenue, and then most recently completing the Herman Road improvement project right outside.

Um the another particularly effective strategy was consolidating parcelized land through the purchase and resale of privately owned parcels throughout the district, which helped attract uh large new employers, including those in the advanced manufacturing semiconductor industry.

Um the district stopped collecting increment in 2012, and we've kept this district open um for these for the last 15 years 13 years so that we could complete the Herman Road improvement project in 2024.

Um there is no outstanding debt held by the TDC, there's no real property held by the TTC, and the account balances are zero.

So the Leviton district has been a resounding success by every metric.

And this resolution, along with the parallel resolution on council's consent agenda, um, are the final steps required to bring the district to a close.

The strategy, however, of using public investment to remove development barriers is exactly why you all created the SWERD at the Southwest Urban Renewal District and the core opportunity reinvestment area.

And in these next two districts, Sid and I are looking forward to implementing your vision and unlocking the next chapter of prosperity in To Walleton.

So this is largely a housekeeping item, but I'm happy to answer any questions that you may have regarding the closure of the Levitant Tax Increment District.

Thank you.