The urban renewal projects include two of the most anticipated works: the OHSU Knight Cancer Institute and the Portland-to-Milwaukie MAX line.
The urban renewal projects include two of the most anticipated works: the OHSU Knight Cancer Institute and the Portland-to-Milwaukie MAX line.
The expansion are part of a series of changes to the city’s URAs initiated by the council in May 2014. They directed the Portland Development Commission, which oversees the city’s urban renewal programs, to reduce or eliminate four renewal areas: Airport Way, Education District, River Disrict and Willamette Industrial URA. The council also directed the PDC to draw up plans to expand the Central Eastside and North Macadam urban renewal areas.
The council intended the changed to result in a net return of $67 million in property for taxation to the city, Multnomah County, the Oregon School Fund, and library districts. According to the PDC, they will result in a net benefit to the taxing jurisdictions of all additional $300 million for 30 years.
Read more at the Portland Tribune.
