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MURA shrinks urban renewal area, ends option with Rubicon Edlund and directs staff to craft funding plan for Living Waters seismic work
Summary
At its July meeting the Medford Urban Renewal Agency approved a boundary reduction for the Southgate portion of the district, terminated an option agreement with Rubicon Edlund JV LLC, and directed staff to craft a grant/loan proposal (including lien/recapture terms) to assist Living Waters Church with seismic retrofit funding.
The Medford Urban Renewal Agency (MURA) board at its July meeting approved three related actions: a minor removal of the Southgate portion of the urban renewal district, termination of an option and purchase agreement with Rubicon Edlund JV LLC, and direction to staff to design a funding approach to support seismic upgrades at 360 E. Jackson St., owned by Living Waters Church. Harry Weiss, MURA project manager, said the proposed boundary change removes an area in Southgate that has completed its redevelopment work and is no longer producing tax increment revenues for the district; the board…
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