What is urban renewal?

Urban renewal, or tax increment financing, is a tool use by cities to finance improvements and redevelopment in specific areas of a city by reinvesting the increase in the area’s property taxes. The program is aimed at helping communities improve specific areas that are unsafe or in need of improved conditions.  Urban renewal is authorized by the State of Oregon and is used by many cities.  An urban renewal governing body is established (the Agency) and a plan is created to demonstrate how this tool can help improve the area. The goal of urban renewal is to support economic development and community improvements by encouraging private development, like businesses and housing, and by financing needed public projects, like street improvements.  Eugene has two urban renewal districts: 1) Downtown and 2) Riverfront.

Show All Answers

1. What is urban renewal?
2. Where is urban renewal used in Eugene?
3. What has been done in the Downtown District with urban renewal funds?
4. How does urban renewal work?
5. Does urban renewal raise property taxes?
6. How has urban renewal evolved?
7. Who benefits from urban renewal?
8. Where do urban renewal funds come from?
9. What effect does urban renewal have on the other governments in the area?
10. How will urban renewal impact the school district?
11. Who makes the decisions about urban renewal projects and spending?
12. Why is the City considering an amendment to the Downtown Urban Renewal Area?
13. How will the money be spent if the Downtown Urban Renewal Plan is amended?
14. How much money is there to spend in the Downtown District?
15. What is the City's next step related to downtown and urban renewal?