Title
Immediate Opportunity Fund Agreement with the Oregon Department of Transportation for the Meyers Road Extension Project
Body
RECOMMENDED ACTION (Motion):
Approval of the Immediate Opportunity Fund Agreement with the Oregon Department of Transportation for the Meyers Road Extension Project (CI 17-001).
BACKGROUND:
City staff have worked closely with Business Oregon and the Oregon Department of Transportation (ODOT) to expand development opportunities in the city and greater Beavercreek Employment Area. The construction of the Meyers Road Extension Project is essential to improve transportation flow and business access.
The Meyers Road Extension, located between High School Avenue and Highway 213, is identified in the 2013 Transportation System Plan as project D46 - Meyers Road West Extension. This extension of Meyers Road will help to serve many purposes including the following:
· Relieving congestion on Glen Oak Road; and
· Providing a new access through the area to foster future development of land parcels adjacent to the road; and
· Providing access for the Oregon City School District Transportation and Maintenance Facility, the Tyrone S. Woods Memorial Park at the corner of High School Avenue, and an additional access (from the south) to Clackamas Community College.
Additionally, the attached Immediate Opportunity Fund Agreement for the Meyers Road Extension Project brings the Beavercreek Employment Area one step closer to realization of the 1,600 jobs within the area, making the area more marketable by providing critical infrastructure and utilities to Development Site #1.
The Meyers Road Extension Project falls under the Immediate Opportunity Fund (IOF) Category Type B: Revitalization of business district or industrial center to support economic development through construction of road improvements. Business Oregon recommended, and the Oregon Transportation Commission approved, an IOF award of $250,000 to the Meyers Road Extension Project to con...
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