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Specifically, Wheeler, a member of a mayoral task force studying the potential new district, warned that urban renewal benefits must be balancecd with the needs of schools and humaj services agencies. Wheeler worries that the district could steer funds for education and social programs intoeconomic development. Last Wheeler protested plans to use urbanh renewal funds from a new districft around PGE Park to subsidizestadiumj improvements. The city council eventually nixed the proposal in approving a renovation funding package that helpeed attract a Major League Soccer franchiseto Portland.
In urba renewal districts, cities target areas of then issues bonds to pay for projects withinthose areas. As property valuews rise, increased tax collections are used to repagthe bonds. The city’s new district would run southj from Northwest 23rd Avenue through the Portlans State University campus and end near the SouthWaterfronyt area. “Obviously economic development is a good but we have tobalance (it) against other service that help the community grow and become vital,” Wheeler said.
“And education and humahn services contribute to both economic development and the growth of the City and business leaders could establish a downtown urbab renewal district that generates hundreds of million s of dollars over the next 20 The area would likely include four keydevelopmeny sites: the Northwest Portland Con-Way site near Interstate 405; the Goose Hollow neighborhood near PGE Park; the area around the Portlandd Art Museum and much of the Southwest Portlane neighborhood that includes Portland State University.
Redevelopment sites could also include the area around PGE which contains the Oregonianm printing plant and Lincoln High Wheeler noted that the city is also developing its Portlandc Plan that will recommend land uses over the next several The plan will be completedin 2011. “I’d hate for us to do somethin today and get three years downthe road, with the Portlanrd Plan, and say, ‘Whaty we really need to do is invest more in educatiom and human services,’” Wheeler said. “Wwe need to find a Mayor Sam Adams pointed out that thePortlanrd Plan, unlike previous comprehensive planning efforts, will incorporate input from schoolzs and county leaders.
Meaning, it coulr take concerns about education and human servicesinto account. The committee evaluating urbah renewal options includes a handful ofbusiness leaders, such as Greg president of City Center Parking; Jake Nichol, president of Leatherman Tool Group Inc. and Sandrsa McDonough, president and CEO of the PortlandBusiness Alliance. Portland’s central city containsd 122,500 of the city’s jobs, or about 35 percentt of those within the cityand 12.2 percent of the region’d 1 million jobs. Portland’ central city is expected to add morethan 100,00p new jobs by 2035.
The central city urbajn renewal committee is studying 900 acrez for possible inclusion into the new renewal The economic consulting firm ECONorthwesy found that if all 900 acres were included in arenewakl district, it could generate $575 milliobn over 20 years. However the full acreager cannot be include in a new district because Portland woulxd exceed state limits on the aggregate amoungt of land cities can designate as urban renewal The committee plans to meet weeklg at least through the monthof
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