Downtown plan postponed

Portland's ambitious 345 acre urban renewal district plan was put on the backburner until spring at the earliest.

The sprawling urban renewal area would stretch from the huge Con-way's parking lot on Northwest 20th to South Waterfront by way of the Morrison Bridgehead and the county courthouse.

Many of the city's major power players -- Portland State University and the Portland Business Alliance among them -- endorse the idea. But redirecting property tax revenue would come at a multimillion cost, too, most directly to financially strained Multnomah County and more indirectly to Portland Public Schools.

Portland Mayor Sam Adams halted work on the proposal six weeks ago amid concerns that the process was moving too quickly and without answering fundamental questions: Is this the right investment at the right time? And if so, what's the cost?

The delay represents a brief but notable political victory for Multnomah County, where leaders are more readily challenging the city's tried-and-true redevelopment strategy. But with the city leaning on urban renewal for economic opportunities, officials face a dilemma: Should they earmark money amid a lingering recession to pay for the promise of projects and jobs? Or should they hold off to backfill government programs that are likely to be put on the chopping block soon?

Read more at OregonLive.com.

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