February 24th, 2011 | by JAMES PITKIN News | Posted In: City Hall, Schools, Politics, Housing, Multnomah County, Business

Read the Document: Adams' Proposed New Urban Renewal Boundaries and Costs

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 WW has obtained a copy of a three-page information sheet detailing a new urban-renewal district proposed by Portland Mayor Sam Adams at his State of the City speech last Friday.

The information sheet (PDF) includes a map of the proposed 31-year, 130-acre district centered around Portland State University.

Unlike a much larger and highly gerrymandered new district previously floated by Adams, the newly proposed "Innovation District" would have somewhat regular boundaries. It would stretch from I-405 east to Southwest 1st Avenue, and from Southwest Jefferson Street south to Southwest Lincoln Street, with a dog leg taking in two blocks south of the I-405 loop.

The proposal contains lots of verbiage about how "Portland must competitively grow our knowledge-based economy." All well and good, but Adams' proposal is likely to raise concerns about new urban-renewal schemes from others such as Multnomah County and Portland Public Schools. Both lose property-tax revenue with tax-increment financing.

The information sheet includes estimated financial impacts for those government bodies, including $4.1 million in lost revenue for the county and $4.6 million in losses to the school district.

 
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