Urban renewal is a financial tool that funds projects and activities in an urban renewal area which have been identified in an urban renewal plan. The purpose of urban renewal is to make public investments in designated geographic areas to remove blight, to improve property values, and to leverage private investment. Public investments spur redevelopment in areas where it might not otherwise occur.

Urban renewal uses Tax Increment Financing to improve and redevelop designated areas of a city by reinvesting the increase in the area’s property taxes. When an urban renewal area is created, the assessed property value within the district is set (or “frozen”), and those taxes continue to go to the taxing jurisdictions (such as city, county, school district). Any increase in the tax assessed value that occurs in that area (referred to as the “increment”) is collected by the urban renewal district to use for redevelopment projects identified in the urban renewal plan. Each plan includes a timeline and/or funding capacity (called “Maximum Indebtedness”), under which it must operate. When the projects in a plan are complete and funding is expended, the area closes and the taxing jurisdictions begin receiving their full share of taxes.

Urban Renewal Agency 

The Urban Renewal Agency (URA) is a separate municipal corporation responsible for governing Salem’s seven urban renewal areas. With assistance from three advisory boards, the Agency Board provides direction and approval for projects and programs to invest in and improve specific geographic areas of the City.

In Salem, the Urban Renewal Agency Board (Agency) is constituted by the Mayor and City Council with the Mayor acting as Chair. The City Manager serves as the Executive Director of the Agency.

Staff support is provided by the Urban Development division through an intergovernmental agreement with the City of Salem.

Meeting Schedule

The Agency meets in Council Chambers following the Council meeting on the second Monday of the month at 6:00 p.m. and as needed on the forth Monday of the month.

Detailed information about Agency meeting times, dates, and locations is shown in the calendar. You can access meeting agendas online. Watch the meetings live on CC:Media channel 21, with replays during the week, or stream the meeting live or in archive form online.

Rules

URA Rules are adopted by the Agency and provide guidelines and procedures for its meetings. The rules provide for the order of agenda items at URA meetings, public comment, voting at meetings, and procedures for public hearings.

Other helpful resources you can access include the functions and role of the City Council and URA and ways you can participate in a City Council or URA meeting.

Resolution

Resolution 7986 – used to establish the Urban Renewal Agency.