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2000 URA
The 2000 Sherwood Urban Renewal Plan was adopted and approved by ordinance on August 29, 2000. The initial URA “maximum indebtedness”, as defined by statute, was $35,347,600. However, on February 27, 2012, the Sherwood City Council approved a substantial amendment to increase the maximum indebtedness to $45,133,469. There were 596 acres designated in the Urban Renewal Plan, however the area was reduced significantly down to 166 acres via Ordinance 2021-005 in order to make room for the 2021 URA. The 2000 URA is set to sunset in 2023.
The following projects have been funded by the URA:
• URA expenses related to project administration, planning, technical and financial services, renewal area marketing and support.
• The Façade Grant Program - Since its inception, local business owners through application with the Urban Renewal Agency have been awarded almost matching grants to improve building facades, remove blighted structures and rebuild structures in their place. The programs offer a district match of 50% of the expense per façade with a maximum of $15,000.
• In 2003, the district spent $600,000 to convert a portion of the City owned Public works facility into an indoor soccer complex, with restrooms, bleachers, party room and a state of the art indoor field complete with artificial turf. The City has partnered with local youth sports organizations and the YMCA to program activities and events in the facility.
• In 2004, the District, in partnership with the Sherwood School District invested over $500,000 to install a new Turf Field, artificial surface at the High School stadium. In addition, the district participated in the funding of new lights at the High School and middle school fields, and invested in the new stadium at the High School, increasing capacity and use for community groups.
• In late 2003 the Urban Renewal District invested $300,000 to purchase fiber for Old Town. In purchasing the fiber, Sherwood now has a direct link to provide speed of light access to the internet. A large portion of Sherwood’s Old Town is now a “wireless internet hot spot”. An outgrowth of this investment is the formation of Sherwood Broadband, a city utility that provides high speed broadband service to businesses in Sherwood, Newberg and other parts of Yamhill County.
• The URA has purchased several properties in Old Town Sherwood that will be used for redevelopment purposes.
• the Sherwood URA funded the building of the new Civic building in Old Town and the Downtown Street project. The Civic building is home to Sherwood City Hall on the second floor and a 14,000 square foot library. This facility is a major draw to patrons of Old Town.
• The Sherwood 2000 URA also funded the development of the Cannery site, a 6.5 acre parcel in the heart of the Sherwood Old Town that has been master planned to include, mixed use residential, office space, retail shops, a community plaza, and the Sherwood Arts Center.
