BDAB backs establishment of new TIF areas and recommends Project Platform for core-area housing incentive

City staff presented a draft urban-renewal investment strategy and five site-specific housing proposals at the March 3 BDAB meeting and asked the board to recommend that the Bend Urban Renewal Agency establish new tax-increment-finance (TIF) areas and support Project Platform's core-area application.

Overview and staff goals

Jonathan Taylor, the city's urban-renewal manager, said the proposed investment strategy is intended as a short-term "guiding document" for priority urban-renewal investments across the city's tax-increment areas (core area, Juniper Ridge, Murphy's Crossing and prospective future districts). Staff said the plan rests on four strategic principles (strategic, sustainable, measurable and aligned) and focuses on housing development, entrepreneurship, infrastructure, business and land development, and beautification.

Why staff proposed this

Staff described the funding role of urban renewal: increment from increased tax-assessed value within designated urban-renewal areas is retained by the agency and can be invested in public infrastructure and, in some cases, used to incentivize private development that the agency finds necessary to catalyze broader redevelopment. Staff noted that the city's Transportation System Plan and recent housing analyses framed the need for coordinated investments to support housing production and higher-wage job creation.

Five site-specific project proposals (summary)

Staff presented five candidate projects that would be eligible for assistance under proposed site-specific TIF-area rules. If all five projects proceed as proposed, staff said the combined package would: generate about 893 residential units (across…