4th & Main (Yo Treats/CRO)


Project Status

Project Type
Urban Renewal

Date Received

Project Summary

This 2000 square foot building has lived several lives since it was constructed in the 60s. It has been a cafe and donut shop, a hair salon, as well as a Motorsports parts and service business. Today it lives on as Yo Treats Frozen Yogurt and Clackamas River Outfitters.

After sitting vacant for several years, the Urban Renewal Agency purchased the building in 2018, with plans to renovate it in order to meet the needs of the 2 businesses mentioned above. Normally, the Agency would like to partner with a private builder/developer in order to complete a project like this, but when no willing party stepped forward to purchase and renovate the building, the Agency took lead.

The Agency will hold and manage the property for approximately 2 years, after which the building will be sold. All rent revenue as well as sale proceeds will come back to the urban renewal agency in order to repay the majority of the project costs. Those funds will be redeployed toward other urban renewal projects.

While the structure of this project was uncommon, the Agency is proud of it and the impact it is having on Main Street.

Property Acquisition$171,400
Development Soft Costs

Hard Construction$216,325
Interest (paid)$2,800
Broker Fees (at time of resale)$13,633
Taxes, Ins., Maintenance$11,799
Total Costs$436,471

Income Amount
Rent Revenue$50,000
Loan Interest (received)$1,587
Sale Proceeds$272,667
Earned Tax Increment$9,503
Total Income$333,757

Net Subsidy from EURA - $102,714

*Some of the figures used in this table are estimates and will not be known with certainty or accuracy until the Agency has sold the building.

Estacada City News - Creative Urban Renewal (PDF)