The Commission shall implement the vision and goals of the City as adopted by City Council relating to urban renewal, economic development and affordable housing. The Commission shall advance social equity in carrying out all of its duties and shall involve the constituencies of the City to create, maintain and promote a diverse, sustainable community in which economic prosperity, quality housing and employment opportunities are made available to all residents.
The Commission shall be and serve as the Urban Renewal and Redevelopment Agency of the City of Portland , pursuant to ORS Chapter 457, as amended. In carrying out its urban renewal duties, the Commission shall have all the powers and authority to perform any act or carry out any function authorized or permitted by ORS Chapter 457, as now provided or hereafter amended, subject to the authority of the City Council to approve Urban Renewal Plans and substantial amendment to Urban Renewal Plans and to the other powers of the City Council provided in ORS chapter 457, and the Portland Development Commission shall serve as the local public agency and shall perform all the functions prescribed therefore in Title 42 U.S. Code, relating to slum clearance, urban renewal and urban development and redevelopment within the City boundaries, or in an area within five miles from the City boundaries. In connection therewith, the Commission shall have authority to enter into agreements with any other public body or any department or bureau of the City and enter into any other contracts to carry out its urban renewal and redevelopment functions. The Commission may impose conditions or restrictions by deed or lease upon the use of land or property within an urban renewal area. The work of carrying out an urban renewal plan or redevelopment plan shall be deemed a public project.
In carrying out its economic development duties, the Commission shall, among other things, promote business and industrial recruitment, expansion and location within or near the City, and in connection therewith may acquire, improve, lease or exchange property, real or personal, or interest therein, to the extent permitted by law. Except as otherwise directed, the Commission shall perform the duties set forth in Section 2‑126, except for appropriations and expenditures from the General Fund for advertising the advantages of the City, which power shall be exercised only by the Council.
In carrying out its affordable housing duties, the Commission shall promote home ownership and the creation and retention of multifamily housing, and implement other housing policies that may be adopted by the Council, through acquisition of property, real or personal, or interest therein, through financial and technical assistance to private and nonprofit housing developments and organizations, renters, homeowners and homebuyers, or through any other mechanism authorized by the Council. [New sec. May 16, 1958; am. July 1, 2007.]