Beaverton Urban Redevelopment Agency (BURA)

BURA Area Photos

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Background
To capitalize on the opportunities within central Beaverton and to meet the community’s desire to create a revitalized, vibrant downtown core, the Beaverton Urban Renewal Plan (Plan) was developed in 2010 and approved by voters in 2011. The Beaverton Urban Redevelopment Agency (BURA) is the agency responsible for administering and monitoring urban redevelopment and renewal activities within the City of Beaverton.
 
 UPCOMING EVENTS
Beaverton Urban Renewal Agency Meeting
Tuesday, October 23, 2018 CANCELLED
6:30 p.m., City Hall 
Council Chambers 

Urban Renewal Advisory Committee Meeting 
Monday, November 5, 2018
7 p.m., City Hall
Council Chambers

Beaverton Urban Renewal Agency Meeting
Tuesday, November 27, 2018 
7
p.m., City Hall 
Council Chambers 
Urban renewal and tax increment financing (TIFs) are public financing tools that provide local governments with the flexibility necessary to respond to new challenges and opportunities that arise locally; BURA employs these tools to spur targeted investments in particular, blighted areas in order to create value through the development of public-and-private-funded improvement projects.

The agency completed the Central Beaverton Urban Renewal Plan, which proposes to accomplish the following goals and objectives: 
  • Create an active downtown
  • Address traffic congestion
  • Address response times for public safety
  • And provide incentives for redevelopment, business investment, and jobs.

About Urban Renewal

Share of BURA Tax Increment by Project Type

 
Approved by voters in 2011, BURA has allocated tax increment finance expenditure to five categories of projects:
 

Figure 1: Year-to-Date
Image of year to date expenditures percentages: infrastructure and transportation improvements (41%); incentive programs (5%); joint investment program (44%); community identity building (2%); debt service and oversight (6%)

Figure 2: 30 Years

Image of 30 year recommended funding percentages: infrastructure and transportation improvements (48%); incentive programs (7%); joint investment program (33%); community identity building (4%); debt service and oversight (8%)

 

Legend for above figures: dark blue, infrastructure and transportation improvements; purple, joint investment; orange, incentive program; green, community identity building; light blue, debt services and oversight; gold, other

Share of BURA Tax Increment by Project Type

Share of BURA Tax Increment by Project Type, Percentages Year to Date and 30 Years
Project Type Percentage Year-to-Date Percentage 30 Years
Incentive Programs 5% 7%
Joint Investment Program 44% 33%
Community Identity Building 2% 4%
Transportation & Infrastructure 41% 48%
Debt Service and Oversight 3% 8%
Other 5% n/a