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Bend staff details site‑specific tax‑increment assistance; committee weighs benefits and limits
Summary
Staff explained Bend’s newly adopted site‑specific tax‑increment assistance policy (a TIF rebate tied to new assessed value) and reviewed early projects including Bridal Ridge; committee members raised concerns about upfront capacity, benefits for small infill projects, and enforcement of affordability through development agreements.
Jonathan Taylor, urban renewal project manager, presented Bend’s site‑specific tax‑increment assistance policy and how tax increment financing (TIF) can be used to incentivize new housing. He explained that TIF freezes the current assessed value and directs future tax increment from new development back to the project as annual rebates or to cover system development charges (SDCs) and infrastructure. Jonathan said the policy requires a base minimum of 15% of units rented at or below 90% AMI for the rebate program (with limits on annual rent…
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