Did you receive our postcard in the mail? The following is meant to serve as a guide to the proposed updates and changes to Portland's Urban Renewal Areas (URAs). Click on an area below to find out more and to view/download the supporting documents.
Summary of Changes
On Wednesday, June 25, 2008, the City Council approved the following amendments with a 4-0 vote.
- The First Amendment to the Lents Town Center Urban Renewal Area will expand boundaries by 140.05 acres, increase maximum indebtedness by $170 million and extend the expiration date to June 30, 2020.
- The Twenty-Eighth Amendment to the Downtown Waterfront Urban Renewal Plan will remove 47.03 acres from the Plan area and standardize Plan amendment process.
- The Tenth Amendment to the South Park Blocks Urban Renewal Plan will remove 3.20 acres from the Plan area and standardize Plan amendment process.
- The Amended and Restated River District Urban Renewal Plan will expand boundaries by a net 41.98 acres, increase maximum indebtedness by approximately $325 million and extend the expiration date to June 30, 2021.
- The First Amendment to the Amended and Restated River District Urban Renewal Plan will expand boundaries by 8.53 acres and increase maximum indebtedness by $19 million.
Lents Town Center
The First Amendment to the Lents Town Center URA Plan will increase the district’s maximum indebtedness by $170 million, expanding it by 140 acres, and extending the last date to issue debt to 2020.
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Downtown Waterfront
The 28th Amendment to the Downtown Waterfront URA Plan will reduce the district by about 47 acres. This district’s borrowing authority has expired and it will now enter a close-out period during which we will complete several critical projects and begin final pay-off of outstanding debt.
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South Park Blocks
Tthe 10th Amendment to the South Park Blocks URA Plan will shrink the district by about 3 acres and initiate the close-out process for the district.
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River District
The Amended and Restated River District URA Plan will substantially expand our work in this district by increasing its maximum indebtedness by approximately $349.5 million, expanding iits boundaries by approximately 42 acres (adding 47 acres from the Dowtown Waterfront and 3 acres from the South Park Blocks, and removing 8 acres of I-405 ROW), and extending the last date to issue debt to 2021.
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David Douglas
The 1st Amendment to the Amended and Restated River District URA Plan will increase the district’s maximum indebtedness by $19 million and add an 8.5 acre island area to help the David Douglas School District build a school and multi-functional community center.
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