Portland Just Drastically Changed Its Urban Redevelopment Strategy—And That's Actually Interesting

Comments

1
"special swaths of land that are taken off the tax rolls so that all money collected within can be reinvested within their bounds"

Dirk: This is NOT an accurate description of how TIF works.

When a URA is created, the tax revenues going into the general fund are capped and NEW, ADDITIONAL taxes that are generated are used to back bonds that generate money to be spent within the URA.

The amount below the cap continues going where it always went.

That is to say, only SOME money collected is reinvested within the boundaries --not "all," and the area is in no sense "taken off the tax rolls."

Carry on...
2
PS. Amanda Fritz has voted many many times for URA expansions and spending that have little to do with ending blight.

If she really gave a rip about this sort of thing she could have raised a stink any time during the six years she's been on the Council --or better yet maybe she could work with the rest of the Council to tighten the rules.

Yet again she accomplishes nothing.
3
It was a hasty explanation, Euphonius. Thanks for pointing out the error.