Carlton Urban Renewal Agency

The Urban Renewal area consists of a single contiguous boundary

The area includes the downtown commercial district as bounded by properties north of Washington Street, west of 1st Street, east of Scott Street, and south of Madison Street.  The boundary also includes properties north of Madison Street and south of the northern city limits boundary along Yamhill Street.

There are approximately 151 tax lots within the Urban Renewal area.  Approximately 40 of those tax lots have no value on improvements while another 49 have an improvement of land value ratio of less than 1.5:1, an indication of the lots being underdeveloped.  These conditions indicate impaired investment and economic maladjustment that limit the ability of tax receipts from these properties to cover the cost of public services rendered.  The capacity for urban renewal debt is based on a projection of urban renewal revenue, which in turn is based on a projection of development within the area.               

It is anticipated that the maximum indebtedness under the plan will be $3,700,000 reflecting project activities, district management, and reserve requirements.  No additional indebtedness would be incurred under the Plan when either the maximum indebtedness amount is reached, or the urban renewal area no longer has indebtedness or any plan to incur indebtedness within the next year, whoever occurs first.  The plan is estimated to retire by the end of the fiscal year 2030-31.