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Portland Development Corporation advancing low‑interest loan pool to reduce downtown commercial vacancies
Summary
The Portland Development Corporation (PDC) is moving toward a low- or no‑interest loan pool, backed by downtown TIF funds, to help tenants and property owners make improvements and reduce storefront vacancies; the PDC expects to consider a final version at its next meeting.
The Portland Development Corporation (PDC) is developing an incentive program, expected to be funded from downtown tax increment financing (TIF) resources, that would offer low‑ or no‑interest loans to tenants or small businesses to finance improvements aimed at reducing downtown commercial vacancies.
Nut graf: The PDC discussed a plan to create a revolving pool of cash from…
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