How Does Urban Renewal Work?

Point on a mapStep 1 - The District is created. The value of ALL the properties inside the district is calculated. This becomes the frozen base amount of property tax for the area.
Step 2 - Redevelopment and Improvements. Public and private investments generate improvements. As property values increase, all new tax revenue above the frozen base amount go to the urban renewal fund to reinvest in the area.
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Step 3 - District is retired. Once the City Council is finished investing in the area and the debt of the district has been repaid, the district is retired. Property taxes are distributed among the taxing districts.

Show All Answers

1. How Does Urban Renewal Work?
2. Where does the money come from?
3. Who decides how Urban Renewal funds can be used?
4. Where is Urban Renewal used in Eugene?
5. How has Urban Renewal been used?
6. Has Urban Renewal helped increase the value of downtown?