When does it make sense to use urban renewal?

Generally, urban renewal makes sense in areas that have physical and/or economic conditions that cause a reduction of, or lack of, proper utilization of that area. An urban renewal agency may determine that TIF is required to:

  • Support catalytic projects as needed to spur new investment in an area
  • Focus necessary public investments in a specific target area
  • Accelerate the timing of necessary infrastructure and transportation projects
  • Incentivize development, redevelopment, or major improvements to a property that might not otherwise occur without TIF
  • Fund infrastructure projects that might not otherwise occur without TIF

Show All Answers

1. How is an Urban Renewal Plan financed?
2. How does Tax Increment Financing work?
3. What is Maximum Indebtedness?
4. When does it make sense to use urban renewal?
5. What can urban renewal pay for and what can it not pay for?
6. Does urban renewal increase property taxes?
7. How does “Tax Increment Financing” affect overlapping taxing districts?
8. What about schools?
9. How is an urban renewal area created?
10. What are the steps to amend a TIF area/plan?
11. What types of projects are typically completed?
12. How has urban renewal been used in Oregon City?
13. What are the benefits of TIF?
14. Why was the Urban Renewal Plan amended?
15. How long does an urban renewal plan last?
16. What are some examples of how urban renewal has been used elsewhere in Oregon?
17. What About the Downtown / North End District?
18. What do I do if I have more questions?