City to Vote on $92M Urban Renewal Plan

GRESHAM, OR-The Gresham City Council next month is expected to approve a $92-million urban renewal plan for its Rockwood neighborhood and other areas of West Gresham. If the citizen steering committee’s final plan is adopted by the Council on Feb. 2, Gresham voters will decide the issue once and for all on a May ballot. Only 50% of the voters in that election must vote “yes” for the plan to take effect.

The Rockwood-West Gresham Renewal Plan would fund projects and planning in the district over the next 20 years. Funding for the plan will be generated through tax increment financing, meaning taxes on new growth in the overlaying Urban Renewal District would be diverted specifically for urban renewal projects and programs within that district.

Fundable projects could include a storefront improvements program, new streets and sidewalks, grants and loans for residential and commercial rehabilitation and other development that would attract new employers to the area.