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Troutdale URA adopts FY2025–26 budget, tax increment declaration and extends riverfront plan duration
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Summary
The Urban Renewal Agency on June 17 adopted its FY 2025–26 budget, declared an estimated $137,000 in tax‑increment revenue for the coming year and approved a fourth amendment to the Troutdale Riverfront Renewal Plan extending the plan’s debt-incurrence deadline from 20 to 30 years.
The Troutdale Urban Renewal Agency adopted its FY 2025–26 budget, approved a resolution declaring the agency’s tax increment for 2025–26 and voted to extend the Troutdale Riverfront Renewal Plan’s allowable debt period by 10 years.
Finance staff told the agency the budget follows the budget committee’s prior approval and involves an intra‑budget reallocation to move funds from contingency into debt service so the agency can continue payments on trail construction contracts. Staff said the budget was published as required by local budget law and noted that additional URA appropriations could follow later this year if a disposition and development agreement moves forward.
On the tax increment resolution, finance staff estimated tax increment revenue of about $137,000 for the coming year and explained that division of tax (TIF) revenues are the mechanism that repays authorized URA debt. The URA adopted the declaration after a public hearing.
On a separate but related item, staff presented a proposed fourth amendment to the Troutdale Riverfront Renewal Plan to extend the period to incur debt from 20 years to 30 years. Staff explained that this amendment requires an ordinance by the city council (already adopted) and an agency resolution; the URA adopted the resolution to extend the plan duration.
All three budget‑related resolutions were approved by the URA board during the meeting. Staff emphasized that, if development negotiations proceed, additional budget considerations and appropriations will likely come back to the agency later in the year.
