Subject: Oregon Convention Center Urban Renewal Plan - 16th Amendment
Dear Community Leader:
PDC staff is proposing an amendment to the OCC URA Plan to allow the possibility of using Tax Increment Financing on a potential publicly-owned Headquarters /Convention Center Hotel. A decision on the amendment does not constitute a decision on whether a hotel will be built. Should the hotel project progress there will be opportunities at community forums to address and discuss the specific project.
ORS 457.085(2)(j) states that an urban renewal plan may authorize spending tax increment resources on public buildings. However, such action requires an amendment to the urban renewal plan that explains how the building serves or benefits the urban renewal area. The intent of the 16th Amendment is to provide the explanation of the benefits to the Oregon Convention Center Urban Renewal Area of a publicly-owned Convention Center Hotel.
The 16th amendment to the Oregon Convention Center Urban Renewal Plan makes the following changes:
ยง Inserts into the Urban Renewal Plan a section explaining the benefits to the urban renewal area of financial participation of a proposed publicly-owned Convention Center Hotel across the street from the Oregon Convention Center. The Portland Development Commission anticipates its contribution for the development will include a 2-block parcel of land, and potentially tax increment financing.
You are invited to attend a special meeting of the OCC Urban Renewal Advisory Committee on Tuesday, February 13, 6:00-8:00 pm, at the Ambridge Events Center, 300 NE Multnomah Street. The plan amendment will be presented and discussed at that time. (See attached agenda)
A public hearing regarding this proposed plan amendment is scheduled before the PDC Board on Wednesday, March 14, 3:00-6:00 pm at OAME, 4134 N Vancouver Ave. and before the Planning Commission on Tuesday, March 27, date and time TBD.
If you have any questions or comments please contact me.
Thank you,
Irene Bowers
Senior Project Coordinator, OCC URA
Portland Development Commission
222 NW Fifth Avenue
Portland, OR 97209-3859
P 503 823.2419
F 503 865.3877
E BowersI@pdc.us
PDC staff is proposing an amendment to the OCC URA Plan to allow the possibility of using Tax Increment Financing on a potential publicly-owned Headquarters /Convention Center Hotel. A decision on the amendment does not constitute a decision on whether a hotel will be built. Should the hotel project progress there will be opportunities at community forums to address and discuss the specific project.
ORS 457.085(2)(j) states that an urban renewal plan may authorize spending tax increment resources on public buildings. However, such action requires an amendment to the urban renewal plan that explains how the building serves or benefits the urban renewal area. The intent of the 16th Amendment is to provide the explanation of the benefits to the Oregon Convention Center Urban Renewal Area of a publicly-owned Convention Center Hotel.
The 16th amendment to the Oregon Convention Center Urban Renewal Plan makes the following changes:
ยง Inserts into the Urban Renewal Plan a section explaining the benefits to the urban renewal area of financial participation of a proposed publicly-owned Convention Center Hotel across the street from the Oregon Convention Center. The Portland Development Commission anticipates its contribution for the development will include a 2-block parcel of land, and potentially tax increment financing.
You are invited to attend a special meeting of the OCC Urban Renewal Advisory Committee on Tuesday, February 13, 6:00-8:00 pm, at the Ambridge Events Center, 300 NE Multnomah Street. The plan amendment will be presented and discussed at that time. (See attached agenda)
A public hearing regarding this proposed plan amendment is scheduled before the PDC Board on Wednesday, March 14, 3:00-6:00 pm at OAME, 4134 N Vancouver Ave. and before the Planning Commission on Tuesday, March 27, date and time TBD.
If you have any questions or comments please contact me.
Thank you,
Irene Bowers
Senior Project Coordinator, OCC URA
Portland Development Commission
222 NW Fifth Avenue
Portland, OR 97209-3859
P 503 823.2419
F 503 865.3877
E BowersI@pdc.us
posted by Vernon Neighbors at 1:40 PM
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