March 2019 - Measure 2-121: South Corvallis Urban Renewal Plan Approval
The March 12, 2019 ballot included Measure 2-121: South Corvallis Urban Renewal Plan Approval. The measure was approved by voters.
The ballot title and links to additional information are available below.
Ballot Title:
CAPTION: South Corvallis Urban Renewal Plan Approval.
QUESTION: Shall the South Corvallis Urban Renewal Plan, including the collection and use of tax increment funds, be approved?
SUMMARY: This measure approves the ordinance implementing the South Corvallis Urban Renewal Plan (Plan) and the use of tax increment financing to fund projects undertaken as part of the Plan. Funding comes from capturing property taxes from new development and increased property values in the urban renewal area. It is not a new tax or increase for taxpayers.
The proposed boundary, goals, projects, project costs, and funding limits are described in the Plan. Approval of the Plan authorizes activities within the following project categories:
Affordable Housing Support
Commercial and Residential Development Support
Business Support and Enhancement
Street Design and Improvements
Multi-Use Path Design and Construction
Millrace Restoration
Natural Resource Management
Plan Administration and Planning Refinement
Voter approval of the South Corvallis Urban Renewal Plan and the implementation of the Plan through the use of tax increment funds satisfies the requirements in Corvallis City Charter Chapter 57.
