The N/NE Community Development Initiative action plan has been adopted and will begin implementation soon. The goal of the plan is to use urban renewal funds to foster economic prosperity among communities and individuals that have not fully participated in, or benefited from, economic opportunities in the Interstate Corridor urban renewal area.
When the urban renewal area was established in 2001, it was supposed to benefit existing residents and businesses in the historically black neighborhoods of North and Northeast Portland. Statistics reinforce that these communities did not equally benefit from the economic prosperity and growth there.
The PDC convened a project advisory committee composed of members of the Neighborhood Economic Development Leadership Group and other community representatives to guide the development of an action plan. More than 200 community members participated in forums held on October 8 and October 20 of 2016.
To align with the plan's goals, the PDC reorganized the investment of $32 million in uncommitted TIF funds into five categories over five years:
• Promote property ownership and redevelopment:
$10.75 million in grants and loans to 44 property owners.
• Support business ownership and growth:
$9.25 million in grants and loans to 55 business owners.
• Invest in new and existing homeowners:
$5 million in grants and loans to 60 homeowners.
• Advance community livability projects:
$2.5 million in grants and loans to 20 nonprofits.
• Catalyze cultural-business hubs:
$4.5 million in grants and loans to one or two anchor or signature projects.
You can watch a YouTube video of the plan's January presentation to the PDC Board here and download a PDF of the plan here. More information about the initiative can be found on the PDC website.