Urban Renewal Agency forwards Emblem Tax-Increment Finance plan to planning commission and taxing districts

The Bend Urban Renewal Agency (BURRA) voted July 16 to forward the Emblem Tax Increment Financing (TIF) plan and report to the Bend Planning Commission, affected taxing districts and the City Council for the consult-and-confer period required by state law.

Staff presented the Emblem plan as an 8.38-acre infill residential project on Ferguson Road that proposes a garden-style apartment development with 264 units and a maximum indebtedness (TIF cap) of $22.1 million over a 26-year plan. The applicant proposes 20 percent of units (53 units) at expanded affordability levels (70–90 percent of area median income for 24 years) and to use 45 percent local contractors. Staff’s packet estimated a total project cost of about $85 million and projected SDC revenue of about $4.7 million, with an estimated impact on existing taxing districts of roughly $128 per year for 24 years (loss of tax revenues on currently vacant land).

Why it matters: forwarding the plan starts the required consult-and-confer process: notification of taxing districts and public notice, an August planning commission review of comprehensive-plan conformance, and a September city-council public hearing on adoption. If adopted by council after consult-and-confer, the plan would enable incremental tax revenues generated by the development to be used for development assistance consistent with the TIF plan report.

BURRA action: the board voted to forward the Emblem TIF plan and report for public review and comment. The motion passed with a majority; one member (Councilor Franzosa) recorded a nay vote on the final action at the city-agency meeting.

Council and public follow-up: staff said they will run an online open house in August, mail notice to property owners, meet with taxing districts as requested and present the planning commission review on Aug. 11 ahead of the city-council public hearing on Sept. 17.