Tax increment financing (TIF) districts in Portland have facilitated investment into regional assets and infrastructure like light rail, the Oregon Convention Center, and the East Bank Esplanade. The creation of the Neighborhood Prosperity Network (NPN) and the 2022 creation of the Cully TIF District are two examples of recent TIFs in Portland.
In early 2022, members of the East Portland Action Plan (EPAP) began convening a group of community organizations, Prosper Portland and Portland Housing Bureau staff, and other stakeholders to explore the use of TIF in East Portland. The group used the Cully TIF District as a model of stabilization, anti-displacement, and equitable growth.
City Commissioner Carmen Rubio, who oversees the Community and Economic Development service area, has directed Prosper Portland and the Portland Housing Bureau to partner with community in a broad TIF exploration process for East Portland. She has also directed the agencies to advance the work as far as possible before the change in City government occurs at year-end 2024.
Exploration discussions build upon years of community planning efforts (e.g., East Portland Action Plan, People’s Plan, Parkrose Community Plan) to identify which types of community aspirations and needs might be eligible for TIF funding, and which are not. Potential outcomes of the exploration process include the creation of one or more new TIF districts, no creation of districts, or simply a message that the partners need more time for exploration.
Commissioner Rubio appointed an East Portland TIF Exploration Steering Committee to hold a broader conversation on vision and strategy and help guide the TIF exploration process. Working groups will conduct that process for the three geographic areas in which TIFs are being considered: East of 205, Parkrose, and 82nd Ave.
Come learn more at the event at the Center Powered by YOUth!