April 24, 2007

PDC Board Directs Effort To Bring More Land And Resources To The Lents Town Center Urban Renewal Area

The Portland Development Commission (PDC) will meet on Wednesday, April 25 and will consider authorizing the Executive Director to study the feasibility of amending the Lents Town Center Urban Renewal Area (Lents URA).  Amendments could include a possible boundary extension, increasing the area’s maximum indebtedness and extending the date to issue debt.  This would mean that PDC could provide more affordable housing, neighborhood improvements, assistance to small businesses and jobs.

“PDC is committed to keeping the resources in place to help the Lents community realize its vision of healthy small businesses, a range of housing and new jobs,” said Executive Director Bruce Warner.  “One key project, Freeway Lands, has no budget allocation beyond fiscal year 2007-08, yet offers great potential for jobs.  The 100-acre site is located next to I-205 and light rail and is industrially zoned—offering a tremendous opportunity to locate a major employer with family wage jobs,” Warner added.

The Lents URA Plan was adopted by City Council in September 1998 to address commercial revitalization, housing and infrastructure needs in the southeast neighborhood.  Progress has been made in addressing these issues by bringing a mixed-use project to Lents Town Center (Assurety Northwest insurance), paving numerous streets, and by extending the new Green MAX line to the area. 

In addition, Foster Road serves as a major gateway to Lents and offers many redevelopment sites, but falls outside the current URA boundaries.  Lents URA boundaries along Powell Blvd. and SE 122nd only include one side of these streets.  There may be parts of these important corridors where the URA boundary should include both sides of the street. 

PDC board approval of this resolution would allow staff to begin researching the feasibility of the boundary expansion, increase to indebtedness and extension of the debt timeline.  Staff would also initiate a public participation process with the Lents Town Center Urban Renewal Advisory Committee (Lents URAC), Lents Neighborhood Association and other key stakeholders.  Initial discussion of the resolution with the Lents URAC has been favorable. 

PDC was created by Portland voters in 1958 to serve as the city’s urban renewal agency as laid out in Chapter 15 of the City’s Charter. PDC provides comprehensive housing, development and economic development programs within the Portland region.

###

for PDC's News & Information E-Mail Lists
Archive of sent E-Mails
Unsubscribe from our E-Mail Lists