The Community Development Department administers the Urban Renewal program for the City. There are two Urban Renewal Districts - Astor-East Urban Renewal District, and Astor-West Urban Renewal District with the City.
Urban Renewal is a public financing tool available to cities and counties in Oregon. Using a mechanism called Tax Increment Financing (or TIF), urban renewal directs property taxes on growth in assessed value within an established urban renewal district toward projects that will improve conditions in the district. The driving idea behind urban renewal is that the extra investment, and the expectation of investment, in the urban renewal district generates growth that would not have occured but for that investment. This extra growth is what funds urban renewal projects, and ultimately provides additional tax revenues to the city as a whole. Additional information about urban renewal can be found on the FAQ link.
Astor West Urban Renewal Area Expansion
Current Urban Renewal Projects (select link below)
Astor West Urban Renewal District Storefront Improvement Program