Urban Renewal is a state-authorized redevelopment finance program. Urban renewal areas use Tax Increment Financing (TIF) to reinvest or rebuild parts of cities that are physically deteriorated, economically stagnated, unsafe or where the old urban layout no longer works.
Before establishing the two existing URAs, Bend had a very successful Downtown Urban Renewal Area. The Downtown Urban Renewal Area was closed in 2010.
The City hopes to use urban renewal as a tool to achieve the urban changes need to accomplish the city’s growth plan. City Council acting as BURA made a couple recent decisions to help achieve that goal. Staff made presentations to Council in late 2015 called Urban Renewal 101 and Proposed New Urban Renewal Areas.