|Why does an urban renewal line item appear on property tax statements?
The urban renewal line item shown on tax statements received by property owners within the City of Wilsonville is not a separate assessment or additional tax. It represents the Urban Renewal portion of the “division of taxes” that corresponds to the allocation to the City’s Urban Renewal Districts.
Find out more information about how the division of taxes works.
The purpose of urban renewal is to stimulate economic development through private investment in a specific area of the community. Tax increment financing, ORS Chapter 457, is used in “blighted” areas where private development has stagnated or is not feasible. Public funds are needed to change those conditions. The types of urban renewal activities undertaken generally include land assembly, development of infrastructure and public amenities such as streets, utility lines lighting, public open spaces and parks.
Consistent with the goals and policies of the Economic Development element of the City’s Comprehensive Plan, the Urban Renewal Agency strives to meet or exceed the following policies:
- To ensure overall economic stability the City will attempt to coordinate its policies with those of Clackamas County’s and Washington County’s Overall Economic Development Plan (OEDP).
- The City shall protect existing and planned industrial and commercial lands from incompatible land uses, and will attempt to minimize deterrents to desired industrial and commercial development.
- The City’s public facilities and transportation and Capital Improvements Plan, priorities will be established to ensure adequate public facilities are available to support desired industrial and commercial development. A high priority shall be given to improvements to storm drainage, traffic circulation and safety.
In-depth information relating to economic development in the City of Wilsonville is available on the City’s Economic Development website.
Last updated: 6/5/2012 1:31:04 PM