Home Sales 2007 Stats

     The Central Oregon Association of Realtors has released the home sales data for 2007.  Home sales for urban-size lots fell 27 percent to 1,223 for the year. However, even with this decline in sales, the median price still remains high at $349,000, especially since inventories are at or above historical norms. However, one person’s tough times are another’s opportunity.  For buyers, this could not be a better time – high inventories and low interest rates.

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Public Participation – US97 North Corridor Study

     ODOT is hosting an open house on January 24^th at Sky View Middle School, 63555 NE 18^th, from 5:00 to 8:30 p.m. The open house is designed to collect comments on the proposed long-term solution concerning the stretch of US 97 between Empire Road and Deschutes Market Road.  The two long-term solutions under study show one resolution rerouting existing US 97 adjacent to the railroad tracks to the east and the other possible solution would re-route the highway from north of Cooley Road running west to US 20.  For more information, go to the study Web site at: www.us97solutions.org/. Two years ago, the Chamber formed the Cooley Road Working Group which included representatives from the business community east and west of US 97 in and around Cooley Road, and the three adjacent Neighborhood Associations: Boyd Acres, Mountain View and Hunnell. In part due to the work of the Working Group and the over 30 meetings they held, the two long-term solutions the group agreed on will be presented at the open house.  The Chamber was at the table to make sure the concerns of the business community were not on the menu, and business and neighborhood interests were represented and protected.  Mike Schmidt, Bend’s Chambers President and CEO, is the Chair of the Citizens Advisory Group for the ODOT North Corridor Study. 

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City News:

     New Buses: City Transit Director, Heather Ornelas presented to the Bend City Council a request to purchase four new city buses with Federal dollars designed for this purpose. Heather presented the Council with options for both Compress Natural Gas (CNG) and diesel buses, from 16 passengers, with a 5-year life span; to 32 passenger buses with a 12-year life span. After presenting a study of current and short-term ridership needs and cost benefits, the Council agreed to the purchase of four 16-passenger buses. At the February Council meeting, city staff will return with a purchase agreement proposal complementing the Council’s decision for the four new buses.
     Bend Municipal Airport – Looking Forward: At the City Council Work Session last night, City staff presented information regarding the economic contribution of our local Municipal Airport.  Based on 2005 employment data, the Bend Airport has 1,506 jobs contributing aviation related economic contributions of $578,512,000 or $384,138 per employee. Council was also advised of the planned building construction at Epic Air. Epic is planning to build a 160,000 sq. ft. building in 2008 and another 180,000 sq. ft. building in 2009. To address the planned growth for this vital community asset, the Airport Manager was authorized to apply for an Oregon Transportation Commission Opportunity Grant to build a new taxiway requiring the city commitment of $380,000. Council also granted approval for obtaining a $1.51 million line of credit in support of other airport improvements, to further the long-term economic contribution to the community.
     Clean Audit and Reward: Outside Auditor, Kenny Allen presented to the City Council the audit report for 2006-2007. Mr. Allen reported the city has a high level of financial reporting and the audit rendered the city a “Clean Opinion.” The city has excellent internal controls and his only recommendation was for the City Finance Department to document their internal control procedures. He further noted the city fully meets all the Federal controls, again finding “no issues.”  After the audit presentation, the Mayor presented to a member of the City Finance Department the, Government Finance Officer Association Budget Award for 2007-09. Only 16 other Oregon cities have received this award.

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LibertyBank Sees Silver Lining

According to Jeff Thredgold, economic consultant for LibertyBank, he believes the national unemployment rate could be a positive to Oregon’s small businesses. Jeff notes, “Although the declining national job situation weighs on small business owners, the possibility that the Federal Reserve will again cut interest rates is good for small businesses in Oregon because it will reduce the borrowing cost of small business owners.” The current Federal Funds rate is 4.5 percent. He also noted the weakness in the housing sector and fears of a U.S. recession, the LibertyBank Small Business Index for Oregon increased by a point in December, registering 89.3.

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COCC Business Educational Opportunities:

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Deschutes County Sheriff’s Office Needs Our Help

     Deputy Sheriff Kyle Joye, representing all of the Police K9 Units in Deschutes County, is requesting business assistance. Deputy Sheriff Joye is looking for business owners willing to donate space, a building or business, in which the K9’s can train. The K9 Units are willing to work around any schedule and need everything from small businesses to large warehouses and stock rooms.  The training usually consists of 2-4 dogs and includes training on hidden narcotics as well as hidden people. If your business can help out by supporting this important training work, call Kyle at 815-8337, and be sure to tell him the Bend Chamber sent you.

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Accessibility Assistance

     Linda Crossman, the city of Bend’s Accessibility Division is offering to assist organizations and groups serving people with disabilities who might be visiting Bend. “We want their visit to be positive and to get the most out of the wonderful experience of Bend and we want to get the word out that the city is responsive to the needs of people with disabilities.” Also, the city can provide your business with an accessibility survey. To date, forty-six businesses have been surveyed and fifteen reports have been written. There’s no charge for this survey and to learn more about the survey or how to obtain assistance for our group or organization serving people with disabilities call Linda at 693-2141 or via email at: lcrossman@ci.bend.or.us.

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Entertaining economist?

     We know economics is vitally important. You can count on Alan Beaulieu, economist with the Institute for Trend Research, to make economics relevant and actionable. But fun?
     Beaulieu is a rare creature—an economist with an engaging sense of humor. He brings a national if not global perspective to Central Oregon, presenting the major economic trends that will impact your business between now and 2011. And he offers insight into our local situation as well.
     The Institute for Trend Research has an enviable track record and a reputation for no-waffling straight talk. Alan’s twin brother, Brian, received rave reviews at EDCO's 2003 annual luncheon, where he forecast coming worker shortages at a time when Oregon was still recovering from a recession and led the nation in unemployment.
     Reserve your spot today by contacting Dayna Dudkowski or calling EDCO at 541-388-3236.
     When:  Thursday, February 14, 12:00 - 2:00 pm (registration at 11:30 am)
     Where: The Riverhouse Convention Center
    Cost: $45 for EDCO members and $55 for non-members

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