Gresham presents proposed downtown civic urban renewal plan; estimates $381 million maximum indebtedness over 30 years

City of Gresham officials on July 8 briefed the Multnomah County Board of Commissioners on a proposed downtown civic urban renewal plan that, if adopted, would use tax-increment financing to support infrastructure, community-identity projects and private development incentives in roughly 900 acres in east Multnomah County District 4.

Justin Douglas, director of the Gresham Redevelopment Commission, and consultant Elaine Howard summarized the plan—s vision, boundary, timing and fiscal estimates. The draft calls for $211 million in spending in today—s dollars and a maximum indebtedness of $381 million over roughly 30 years; the plan estimates tax-increment impacts across taxing districts that the presenters said total about $437 million when education impacts and interest costs are included.

Why it matters: The proposed area overlays parts of downtown Gresham and the civic neighborhood and would use increment from developing property values to finance transportation, utilities, community-identity work and grants to leverage private development. Multnomah County, the city, library and other taxing districts would see delayed tax receipts while the district is active; the county—s estimated contribution over the life…