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Request for Expressions of Interest CORNELL/MURRAY PROPERTY

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Request for Expressions of Interest CORNELL/MURRAY PROPERTY www.co.washington.or.us/cornell-murray Request for Expressions of Interest CORNELL/MURRAY PROPERTY Suggested* Response Submittal Date: September 14, 2015, 4:00 pm *While there is not a formal submittal deadline, the County suggests that submittals be provided by the date above. However, submittals will be accepted at any point, until such time as the County has made a selection in its sole discretion. NW CORNELL RD NW MURRAY BLVD NW JOY AVE NW DALE AVE Table of Contents 1. Introduction & OVERVIEW 01 2. Development offering 05 3. context: cedar mill 09 4. property information 13 5. selection criteria & Process 20 6. submission format and content 24 7. General conditions 28 County Contact For more information, or for all questions related to this Request for Expressions of Interest (RFEI), please contact Stephen Roberts at (503) 846-3798, or stephen_roberts@ co.washington.or.us or visit www. co.washington.or.us/cornell-murray. cornell/murray property - rfei 01 Introduction & OVERVIEW Introduction bus lines serve the site, providing connections to light rail. Washington County is seeking expressions of interest in two The County purchased the property County-owned parcels totaling 0.76 in 2008 as part of a project that acre (about 33,000 square feet) at improved the Cornell/Murray the southeast corner of Cornell intersection. The road project is Road and Murray Boulevard, in the complete, and the remaining property heart of the Cedar Mill Town Center. is now available for redevelopment. 1.Developers, business owners and others with creative, feasible ideas Cedar Mill is a thriving community for uses or activities that support the in urban unincorporated Washington town center vision are encouraged to County. Within a two-mile radius respond. of the subject property, there are about 60,000 residents and 30,000 The criteria the County will use jobs. Cedar Mill boasts one of the to evaluate responses and select a highest average incomes in Oregon. preferred development concept are Once predominantly a bedroom set forth in Section 5 (page 20). community to Portland, Washington County has become a major economic Property and Community driver in the region and the state. Overview Intel has its largest concentration of The property is conveniently located jobs in the world in nearby Hillsboro. just north of the Sunset Highway (US Existing uses in the area include 26)/Murray Boulevard interchange Beaverton School District’s Sunset in the Cedar Mill Town Center. More High School, with about 2,000 than 30,000 cars drive past the site students and teachers; a mix of on a typical weekday, and two TriMet 02 cornell/murray property - rfei retail and commercial businesses; See Section 3 for additional and single-family and multi-family community background information. residential housing. Several new retail and commercial developments Development Offering have been completed in the Cedar Overview Mill Town Center in the past few This Request for Expressions of years. New development will create Interest (RFEI) sets forth the County’s several thousand new housing units intentions for this project, including in Cedar Mill in the next decade, the selection criteria and selection based on recent trends. process. This RFEI is intended to be very flexible. The County is not cornell/murray property - rfei 03 seeking detailed proposals for the Submittal and Review Process site at this time, although it will not Overview reject any specific proposals that may The County has identified criteria be put forward. Rather, the County it will consider when evaluating seeks expressions of interest from responses to this RFEI, particularly developers, business owners, or each proposal’s responsiveness to others who may have viable ideas for the County’s objectives set forth in the site and the ability to bring ideas Section 5 (page 20). to fruition. Based on the responses to this RFEI, the County intends to There is no formal deadline for select a party with whom it will enter submittals—the County is willing into exclusive negotiations. to entertain any response at any time until it enters into an exclusive The County is open to a broad agreement with a selected team range of ideas—new mixed-use (such as an Exclusive Negotiating development, temporary activities, Agreement). However, the County or any combination of uses and is interested in timely action, and activities that best achieves the strongly suggests that interested County’s goals as set forth in Section parties submit a response to 5. The County is also open to a broad this RFEI no later than Monday, range of possible deal structures— September 14, 2015 at 4 p.m. outright purchase, land sale contract, ground lease, lease with an option to purchase, and so forth. 04 cornell/murray property - rfei Address RFEI responses and questions to: Stephen Roberts Special Projects Coordinator Washington County Department of Land Use & Transportation 155 N. First Avenue, Suite 350, MS 16 Hillsboro, Oregon 97124 [email protected] 503-846-3798 direct County staff is available to meet with interested parties ahead of the suggested submittal deadline to answer questions about this RFEI, to discuss goals and expectations, and potential partnership arrangements. If desired, meetings may be held at the site, and may include a brief tour of the surrounding area. Contact Stephen Roberts if you would like to schedule a meeting. cornell/murray property - rfei 05 Development offering Development Offering for Expressions of Interest (RFEI). Overview This approach is flexible and does not require a complex or expensive The County seeks expressions of response on the part of prospective interest for the use or redevelopment respondents. The County does not of the site in a way that supports the expect prospective respondents County and community vision for to incur considerable costs in the Cedar Mill Town Center. The responding to the RFEI—rather, County is open to a wide range of the County is looking for creative ideas for the site. The County also 2. responses and approaches. welcomes proposals which affect not only the County’s property, but other Some community members have nearby and/or adjoining parcels. suggested that some portion of the site could be utilized as publicly- Innovative Concepts accessible open space. County Encouraged staff has conducted exploratory The County has not identified a conversations with Tualatin Hills specific required program for the Park & Recreation District (THPRD) property, but is instead seeking staff regarding the possibility of that developers/business owners with a agency’s participation in the creation proven track record who can provide of some type of public open space on a compelling use or development some portion of the property—most concept and business plan that likely the northern-most section. contributes to the County’s objectives THPRD is open to cooperating with as set forth in Section 5. The County the County and with the project team is very intentional in utilizing the selected as a result of this process. approach set forth in this Request Prospective respondents to this RFEI 06 cornell/murray property - rfei are to direct any questions about lease agreement might include an this possibility to Stephen Roberts option-to-purchase. (see contact information on page 4), who will coordinate communications Potential County Assistance during the RFEI review and The following is a list of forms evaluation process. of assistance that the County is Flexible Deal Structures willing to consider. This list is not Considered necessarily exhaustive, nor is it in any order of priority. Just as the County is amenable to a variety of programmatic ideas for • Vertical Housing Tax Abatement: the site, the County is also open to a The County will consider range of possible deal structures for initiating a Vertical Housing the project. The following is a list of Development Program for the possible deal structures. This list is area. Under this program, mixed- not intended to be exhaustive, nor use projects featuring at least two is there any priority in the order of floors of housing over ground- ideas listed: floor commercial use are eligible for a maximum 10-year property • Sale: The County could sell the tax abatement of 40% - 80% property to the selected project (depending on the number of team, either for cash, or seller- floors of residential use). financed (contract purchase). • Land/Lease Write-Down: The • Lease: The County could enter County will consider offers into a long-term lease agreement which entail a sale price (or with the developer team. Such a lease payment) at less than fair cornell/murray property - rfei 07 market value, particularly if the the prior buildings on the site County determines that this (demolished by the County as part is necessary to achieve some of the road-widening project) may substantial objective, such as a apply to any new development on project that is very compelling in the site. satisfying the County’s selection • Development Code/Community criteria. For instance, the County Plan Modifications: The County may deeply discount the lease of anticipates that the successful the land if the developer/lessee respondent to this RFEI may provides a substantial portion propose a use or activity of site improvements for a use that requires modifications or activity that contributes to to the County’s Community a strong sense of place and is Development Code and/or consistent with the Cedar Mill the Cedar Hills-Cedar Mill Town Center vision. Community Plan. The County • Assistance in Securing Other is prepared to work with the Financing Sources: The County selected respondent to this RFEI will consider assisting the to consider options to address any developer team in securing such code issues. other financing for the project— • Assistance in Negotiations: The including, but not limited to, County will assist the team conventional loans, New Market in negotiating any necessary Tax Credits, and other funding agreements with other property sources.
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