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Tax Increment Financing
Tax Increment Financing (TIF) allows cities to borrow against future tax increases in designated areas to create funds for infrastructure improvements or loans and grants to make development feasible in difficult locations. As projects are completed, thereby increasing the tax base, the additional tax revenues are used to pay off debt used to finance the projects. At the end of the urban renewal time period, ALL of the tax revenue can then be used as normal.
Milwaukie's TIF district, which was established in 2016, includes downtown and central Milwaukie.
Milwaukie Redevelopment Commission (MRC) Five-Year Action Plan (2022)
By late 2020, sufficient tax increment had accrued to justify development of a five-year investment strategy for the district. The draft action plan was developed in collaboration with the MRC Community Advisory Committee and is slated for adoption on June 7, 2022.
URBAN RENEWAL PLAN 2016
Background
Staff prepared urban renewal reports for the five City Council meetings linked below.
Feb. 2, 2016 Regular Session
Dec. 15, 2015 Regular Session
Dec. 1, 2015 Work Session
Nov. 3, 2015 Work Session
June 30, 2015 Work Session
Public Review / Adoption Schedule
Links to the public meetings leading to the adoption are below:
June 7, 2016: City Council briefing
June 21, 2016: Milwaukie Redevelopment Commission meeting
July 12, 2016: Planning Commission Review
Aug. 2, 2016: City Council public hearing
Aug. 25, 2016: City Council special session
North Clackamas Revitalization Area
Formed in 2006, the approximately 1,008 acre area is shared by Milwaukie and Happy Valley. The sponsor is Clackamas County.
Urban Renewal Flyer
Summary of Clackamas County Urban Renewal Areas
Milwaukie Facade Improvement Program
The Façade Improvement Pilot Program, which ran from June 2011-June 2012, is a great example of the kinds of streetscape improvements that urban renewal would target for enhancement. Consisting of $50,000 in total funding, this small pilot program helped 8 Downtown property owners to significantly enhance their street frontage.
