HOW MUCH DOES THE DOWNTOWN URBAN RENEWAL DISTRICT COLLECT?
The Downtown Urban Renewal District collects $5.6 million each year. Those funds must be spent within the Downtown Urban Renewal District boundary. The only item that CANNOT be funded with UR funds is maintenance.
WHERE DOES URBAN RENEWAL MONEY COME FROM?
The funds captured in Urban Renewal Districts come from increases in property values within the district. The city, county, etc., continue to collect the same property taxes they collected prior to the creation of the district. After the creation of the district, any tax income generated from increases in property values go toward eliminating blight within the Urban Renewal District.
Urban Renewal is governed by Oregon State Statute. To read the statute, click here.
WHAT HAS URBAN RENEWAL BUILT – AND WHAT IS IT PLANNING TO BUILD?
Over the past 20 years, Urban Renewal has funded the downtown sky bridges, Salem Conference Center, Riverfront Park, and the Union Pacific Railroad Bridge conversion. Currently, the City Council is planning to use Urban Renewal funds to build an $8 million footbridge from Riverfront Park to Minto Park.
Learn more about the Minto Island Bridge
To view a map of the Downtown Urban Renewal boundary, click here.