NOTICE OF RECEIPT OF BALLOT TITLE

NOTICE OF RECEIPT OF BALLOT TITLE Pursuant to ORS 250.275 notice is hereby given that a ballot title for a measure referred by the Tigard City Council was filed with the City Elections Officer on February 8, 2017. Any elector dissatisfied with the proposed ballot title may petition City Elections Officer Carol Krager seeking a different title no later than the close of the business day, 6:00 p.m., on February 22, 2017 under Tigard Municipal Code Chapter 1.12.030. CAPTION Tigard Triangle Urban Renewal Plan Implementation-Requires No New Taxes QUESTION Shall the City implement the Tigard Triangle Urban Renewal Plan? SUMMARY This measure approves the ordinance implementing the Tigard Triangle 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. The Tigard Triangle is the area generally between 99W, 217, and I-5. The Plan’s proposed boundaries, goals, projects, and provisions for amendments are described in the Plan. The Plan currently includes many types of projects, such as: Red Rock Creek restoration, focusing on water quality and public access New streets and sidewalks, focusing on safe walking and cycling Major sewer repairs to address public health Intersection improvements, focusing on traffic congestion New trails and parks Unless otherwise amended as allowed by the Plan, the total amount of tax increment that can be spent on projects over the life of the Plan is $188 million. This is anticipated to take 35 years. More information is available at www.tigard-or.gov/urbanrenewal. A copy of the Plan is available at www.tigard-or.gov/TrianglePlan. Publish 02/09/2017. TT15883156

ad: 15883156

Publication: OPC Legals

Section: OPC Legals

Start Date: 02/09/2017

End Date: 02/09/2017

Owner: City of Tigard