Urban renewal is a program to help Oregon cities and counties renew areas within the city's boundaries. Urban renewal and tax increment financing are ways for local governments to focus investments on a particular area in order to bring about public and private upgrades.
The public upgrades include infrastructure such as streets, roadway improvements, parking, sidewalks, utilities, public spaces, or plazas. These upgrades address declining areas, provide incentives to attract business and housing, build streets, and utilities, address traffic flow and public safety, and support private investment in the area.
The Central Beaverton Urban Renewal Plan allows up to $150 million as the maximum indebtedness that could be incurred under the plan over a 30-year period.
Central Beaverton Urban Renewal Plan will:
Encourage improvement of older blocks and buildings
Provide incentives to increase property values through private investment
Fund road, water and sewer projects
Make downtown more usable for pedestrians and bicyclists
Support business investment, housing creation and job growth
Timeline of Urban Renewal in Beaverton
1972 Urban Renewal Plan
The last urban renewal plan for the City was enacted in 1972. This 1972 plan included completion of the following projects with associated amenities, like landscaping and street lighting:
Hall Boulevard / Watson Couplet between Cedar Hills Boulevard and Allen Boulevard
Farmington Road direct connection to Beaverton Hillsdale Highway
Farmington Road from Lombard Avenue to Murray Boulevard
Fifth Street connection from Lombard Avenue to Western Avenue
Center Street from Hall Boulevard to 114th Avenue
117th Avenue from Canyon Road to Center Street
Broadway Street from the west entrance on TV Highway to 117th Avenue
Tualatin Valley Highway overpass above the new Burlington Northern Railroad at 160th Avenue
Four parking lots in the downtown area
Interconnected traffic signal system for the urban renewal area.
2008 Charter Amendment
Beaverton voters approved Measure 34-160 amending the City Charter on November 4, 2008 requiring any City of Beaverton urban renewal plan to be approved by a majority vote at a November or May election.
Development of the Central Beaverton Urban Renewal Plan
Central Beaverton Urban Renewal Plan approved by voters.
BURA implementing the Central Beaverton Urban Renewal Plan.
A Central Beaverton Urban Renewal Advisory Committee (URAC) was established by the BURA Board in May of 2012. Generally, the URAC meets on the first Monday of the month at
7 p.m. Generally, the BURA Board meets on the fourth Tuesday of the month.