County seals a cooperative agreement with the PDC
Commissioner Cogen press release:
Portland, Ore. – Multnomah County Commissioners today unanimously approved a cooperative agreement with the Portland Development Commission (PDC) that allows the county to appoint a representative to PDC advisory groups that consider the creation, expansion or increase in maximum indebtedness of Portland’s urban renewal areas. The agreement also stipulates that PDC will consider the impact to other taxing jurisdictions as one of the criterion used to decide whether or not an urban renewal area is created or amended.
Cogen’s participation in 2007’s Westside Urban Renewal Advisory Group resulted in a recommendation to invest $35 million in urban renewal funds in Multnomah County’s downtown capital projects over the life of the River District. The Cooperative Agreement ensures that representatives of the county will continue to have a seat at the table when urban renewal decisions that financially impact the County are made.
While current state statues require PDC to do no more than consult and confer with Multnomah County, the County Commissioners today expressed their deep appreciation for the willingness of PDC Commissioners to take what they called a “historic” step toward a true partnership with Multnomah County.
Currently, the county forgoes approximately $18 million annually due to Urban Renewal Areas within the City. Despite the loss of revenue from neighborhoods within URAs, the County is still obligated to provide and the community still needs, human services and public safety.
Posted on May 1, 2008
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