Begins On: August 5th 2020
Time: 6 p.m.
Location: virtual public hearing
What is TIF?
TIF (tax increment financing is a program used throughout Oregon to provide a financing mechanism to implement city plans in designated TIF/urban renewal areas. The goal of TIF is to make investments that spur private development that would not otherwise have occurred. The revenue to pay for projects in a TIF area is generated by the growth in assessed property value. TIF funds may be invested in administration of the plan and in capital projects, such as streetscape improvements, new construction or rehabilitation, or other physical investments in the public or private realm. Those projects must be described in an adopted TIF plan that meets statutory requirements defined in ORS 457.
Currently there are 2 (two) established TIF areas within the City of Bend limits: Murphy Crossing and Juniper Ridge (both referred to as “urban renewal areas”). In 2018, the City Council, acting as the Bend Urban Renewal Agency (BURA), authorized staff to begin the feasibility and drafting of a third TIF area in and around the central area of Bend (see Core Area TIF page for more information).