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Bend expands use of site‑specific tax increment to unlock housing; committee recommends TIF, credit enhancement and infrastructure loans
Summary
Urban renewal staff described Bend’s site‑specific tiff program that offers annual rebates (about a 10‑year exemption equivalent) for projects that commit to community benefits; the committee voted to recommend three near‑term tools — expanded TIF use, a credit‑enhancement program and an infrastructure loan fund — to City Council.
Jonathan Taylor, Bend’s urban renewal project manager, briefed the committee on a site‑specific tax‑increment assistance policy the city adopted to promote housing. He explained the basic mechanics under ORS Chapter 457: an urban renewal plan freezes a base assessed value, captures future incremental tax growth from new development over a set period and rebates a portion of that increment to support projects that meet policy requirements.
Taylor described the policy the city adopted in the prior year: a 12‑year annual tax rebate (modeled to be roughly equivalent to a 10‑year property‑tax exemption), a base requirement that 15% of units be rented at or below 90% AMI for the full term, and a…
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