OCTOBER 2011

RFP process concludes, and HDR, Inc. is selected to provide project management services for bond projects.

MAY 2011

Bend voters pass bond measure authorizing the City to issue up to $30 million in general obligation bonds to improve major street corridors and intersections.

HISTORY

Why was this bond measure proposed?

The City's significant growth of the last 10 years has impacted the transportation system. The measure was proposed so that street infrastructure improvements can be made before there are further impacts from growth. The City has limited funds to make the street improvements.

How will the bond proceeds be spent?

Specifically, this measure would provide funds for some or all of the following priority street improvements:

• Reed Market Road from 3rd to 27th Streets (estimated total cost of $18.3 million), including:
  • Newberry Dr. to Daly Rd. – Update to three lane urban-standard street with bike lanes and sidewalks(estimated cost of $5.3 million)
  • Reed Market Rd./15th St. – Multi-lane roundabout (estimated cost of $5.5 million)
  • American Lane – relocate and update Reed Market Rd./American Lane intersection, including relocation and reconstruction of American Lane Bridge (estimated cost of $7.5 million)
• Simpson Ave./Mt. Washington Dr. roundabout (estimated cost of $3.0 million
• Brookswood Blvd./Powers Rd. roundabout (estimated cost of $3.0 million)
• 18th St./Empire Ave. multi-lane roundabout (estimated cost of $3.0 million)
• 27th Street reconstruction from Connors Dr. to Butler Market Rd. (estimated cost of $1 million)
• 14th St./Century Dr. reconstruction to urban-standard streets with bike lanes and sidewalks between
• Simpson Ave. and Galveston Ave. (estimated cost of $4.5 million)

The 14th St./Century Dr. reconstruction project would be scaled back or eliminated if bond proceeds are insufficient to construct all the projects. Funds could also be used on street improvement projects not listed above if cost savings are realized on priority projects or if one or more priority projects cannot proceed for any reason.

How was the list of projects chosen?

The criteria list for these projects included citizen input to prioritize major street improvements, a staff analysis of street rehabilitation and reconstruction, and geographic distribution throughout the community to spread the transportation improvements throughout the City.

Will the expenditures be accounted for?

The City's Finance Department will track proceeds and expenditures from the bonds. The proceeds and expenditures will also be reviewed as part of the City's annual independent audit. Auditors would ascertain whether the bond proceeds were used for the authorized purpose.

What will be the financial impact to taxpayers?

The measure will cost taxpayers a maximum of 27 cents per $1000 of assessed value. However, a 27 cents per $1000 Bend Urban Renewal Agency special levy is expiring, so the cost of the bond measure would offset the expiration of the urban renewal levy. The average tax rate while the bonds are being repaid would be 22 cents per $1000 of assessed value.

The maximum assessment to repay the bonds on a home with an assessed value of $200,000 would be $54 per year. The maximum assessment on a home with an assessed value of $300,000 would be $81 per year. The average annual cost for a home with an assessed value of $200,000 would be $44, and the average annual cost for a home with an assessed value of $300,000 would be $66.