Bend has two established Urban Renewal Areas (URAs), Juniper Ridge and Murphy Crossing. Before establishing the two existing URAs, Bend had a very successful Downtown Urban Renewal Area.
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.
Bend’s urban renewal areas are managed by the Bend Urban Renewal Agency (BURA). 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. For more information, check out the presentation staff made to Council in November 2017.
The Juniper Ridge Urban Renewal Plan contains goals, objectives and projects for the development of the Juniper Ridge Urban Renewal Area. The purpose of the plan is to use the tools provided by urban renewal to overcome obstacles to the development and ensure the highest and best use of property in the area. The plan is administered by the Bend Urban Renewal Agency. The plan, adopted in 2005, has a duration of thirty years. The maximum amount of indebtedness - amount of tax increment financing for projects and programs - that may be issued for the Plan is $41,250,000.
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The Murphy Crossing Urban Renewal Plan, adopted in 2008, is the culmination of years of study of the Murphy Crossing area, where access and circulation have been negatively affected by the location and configuration of the Bend Parkway. The urban renewal plan implements the decisions made through these years of study of the area. The plan contains goals, objectives and projects for the development of the Murphy Crossing Urban Renewal Area. The overall purpose of the Plan is to use tax increment financing to overcome obstacles to proper development of the Area by assisting with the funding of access and utility improvements, including the overcrossing of the Bend Parkway at Murphy Road and a system of local streets. The maximum amount of indebtedness - amount of tax increment financing for projects and programs - that may be issued for the Plan is $52,600,000.