CRITERIA RECOMMENDATIONS FOR ADDITION OF NONCONTIGUOUS URBAN RENEWAL AREAS
Binding City Policy
WHEREAS, Urban renewal areas can expand by a number of acres equivalent to not more than twenty percent of their original size.
WHEREAS, When an urban renewal area is undergoing geographic expansion, it may be appropriate to consider inclusion of acreage that is noncontiguous.
WHEREAS, The inclusion of noncontiguous areas should be restricted to circumstances meeting certain pre-defined criteria.
WHEREAS, The Council should provide guidance to the Portland Development Commission regarding the criteria the Council believes are appropriate for consideration of noncontiguous areas.
NOW, THEREFORE, BE IT RESOLVED that the noncontiguous areas should occur only during a geographic expansion of an existing urban renewal district and should be limited to fifteen percent of the twenty percent expansion permitted under state law, and
BE IT FURTHER RESOLVED that noncontiguous expansion should occur only in connection with urban renewal districts in which the incremental assessed value exceeds the projections included in the original plan by more than 10 percent, and
BE IT FURTHER RESOLVED that noncontiguous areas may be added only after the tenth anniversary of the adoption of the original plan, and
BE IT FURTHER RESOLVED that the amendment adding noncontiguous land to the Plan must include an increase in the maximum indebtedness allowed under the Plan of which increase not more than fifteen percent of the difference between the original maximum amount of indebtedness and the amended maximum amount of indebtedness must be allocated by the Plan for projects that are located in the noncontiguous area, and
BE IT FURTHER RESOLVED that spending in noncontiguous areas shall be only for projects eligible for tax increment spending under state law, and
BE IT FURTHER RESOLVED that this is binding City policy
Resolution No. 36587, adotped by City Council March 12, 2008.