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Dundee approves $125,000 urban-renewal contribution for Olive Branch development
Summary
Council voted to direct staff to draft an agreement to provide $125,000 from urban-renewal funds to assist Olive Branch site infrastructure; staff will require a formal agreement specifying conditions and disbursement terms.
DUNDEE, Ore. — The Dundee City Council voted April 1 to provide $125,000 from the urban-renewal fund to assist infrastructure work at the Olive Branch development and directed staff to prepare a formal reimbursement agreement.
Staff presented the applicant’s cost spreadsheet for water, sewer and storm improvements and offered a range of contribution models. Council and staff discussed expected tax-increment returns and the length of time before the city would recoup the investment…
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