Tax Increment Financing

City of Milwaukie Oregon Official Website

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

Economic Development & Business Improvement Grants

The City of Milwaukie’s urban renewal agency—Milwaukie Redevelopment Commission—offers 50% matching grants to help offset costs associated with specific commercial construction and building projects. See grant programs and basic details below. An applicant’s business or property must be located within the Urban Renewal Area(link is external) to take advantage of these programs. All programs are implemented on a first come, first served basis. More information can be found here - https://www.milwaukieoregon.gov/economicdevelopment/economic-development-business-improvement-grants