Urban Renewal and Redevelopment

In November, 2008, Beaverton voters approved a Charter amendment to make urban renewal available to the City. With urban renewal, the assessed value of a defined area is split into two categories: the current value and the future additional value that would potentially result from redevelopment or improvements. The difference between the two is the amount of funding that would be available to the City to finance identified public improvement projects. Urban renewal is not a new tax; it is a way to bond for improvements and to pay off the bonds. Once an area is redeveloped, properties within the district generate more in property taxes due to an increase in property value.

The City hired a consulting firm to study the feasibility of urban renewal. The study evaluated whether the legal criteria for urban renewal exist, as well as whether urban renewal will produce sufficient revenue and generate an adequate amount of private investment. The study looks at a specific identified study area and also identifies whether there are additional parts of the City that would qualify for urban renewal. More...

City Council Public Hearing:
March 22, 2010

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Barbara Fryer (503) 526-3718
Leigh Crabtree (503) 526-2458