On July 24, 2012, the City Council adopted Ordinance 2598, approving the Lake Grove Village Center Urban Renewal Plan (URP), which is now administered by the Lake Oswego Redevelopment Agency. The URP establishes an urban renewal area and authorizes the use of urban renewal financing for two projects: Boones Ferry Road and parking. Both projects are consistent with the Lake Grove Village Center Plan that was adopted in 2008 after many years of community work to develop a vision and plan for a revitalized Lake Grove. The Village Center Plan identifies private development design goals and public projects to improve the Lake Grove area and stimulate private investment, including the two urban renewal projects and other investments in infrastructure and amenities. One of the Council’s goals for 2012 was to begin implementation of the Village Center Plan, which prompted completion of a financing study, and preparation of the urban renewal plan.
Urban Renewal Plan Adoption Process
- Five meetings of a focus group of business and property owners, residents, and representatives of the Lake Oswego School District and the City's Planning Commission.
- April 4 - Attendees learned about the process of forming an urban renewal district, received general background information about urban renewal, and reviewed financial feasibility work.
- May 9 - A draft proposed urban renewal plan was presented for community review prior to Planning Commission and City Council consideration in the June/July 2012 timeframe.
- June 18 - Lake Oswego Redevelopment Agency forwards URP to Planning Commission and City Council
- June 20 - Notice sent to taxing jurisdictions (associated meetings with Lake Oswego School Board (6/4) and Clackamas County Commissioners (6/26))
- June 25 - Planning Commission finds that URP conforms with the City's Comprehensive Plan
- July 1 - Notice of July 17 City Council hearing to all postal customers in Lake Oswego
- July 17 - City Council conducts public hearing and votes tentative approval of the URP.
- July 24 - City Council adopts Ordinance 2598, approving the URP.
About Urban Renewal
Urban renewal is a locally implemented program that allows for the use of property tax from growth in valuation to upgrade certain designated areas of a city. Property tax payers do not see an increase in permanent rate property taxes as a result of urban renewal. However, taxes are divided so that amounts collected on the increased assessed value of an area after adoption of an urban renewal plan go to an urban renewal agency for projects within the urban renewal area.