Lake Oswego Redevelopment Agency

The Lake Oswego Redevelopment Agency (LORA) is the City of Lake Oswego's urban renewal agency. Established by the City Council in 1979 under Oregon Revised Statutes (ORS) 457, LORA was created to manage the City's urban renewal activities, with an initial focus on revitalizing Lake Oswego's East End (downtown).

LORA invests in projects and programs that strengthen the local economy, improve public spaces, and encourage private investment. Using tax increment financing (TIF) and other public financing tools, the Agency supports projects that enhance the business environment and create vibrant, connected neighborhoods. As outlined in the 2004 East End Redevelopment Plan Update, investments include public parks, trails, plazas, streetscape improvements, façade improvement grants for existing commercial properties, and public-private partnerships that facilitate mixed-use development.

History

In 1986, LORA adopted the East End Redevelopment Plan, establishing the East End Redevelopment District and authorizing tax increment financing as the primary funding mechanism for redevelopment projects. The tax base for the 1987–88 tax year was established as the foundation for future tax increment revenue. In 2004, the City Council approved a major update to the Plan to address changing conditions and statutory requirements, revise the project list, and increase the District's maximum indebtedness to $93.8 million.

In 2012, the City Council established the Lake Grove Village Center Urban Renewal District to support improvements to Boones Ferry Road and provide public parking to replace spaces lost during construction while adding new parking to serve the Lake Grove Village Center.

Urban Renewal Districts

Today, LORA manages two urban renewal districts:

  • East End Redevelopment District – Located in downtown Lake Oswego, this district has funded significant public infrastructure and community improvements, including Millennium Plaza Park, Sundeleaf Plaza, the Headlee Walkway, and the public-private Lake View Village redevelopment.
  • Lake Grove Village Center Urban Renewal District – Created in 2012, this district focuses on improvements to Boones Ferry Road and the development of public parking that supports businesses and visitors in the Lake Grove Village Center.

Governance and Financial Reporting

LORA is governed by the Lake Oswego City Council, which serves as the LORA Board. Board agendas, meeting materials, and minutes are available on the City's meetings page.

The City's Finance Department prepares LORA's annual budgets and financial reports, which are available on the Finance Department's Urban Renewal page.