The argument for revamping a handful of Portland's urban renewal districts—including putting much of the booming Pearl District back on the tax rolls and aborting the Sam Adams-created renewal area around Portland State—has always been about money.
Let the city and Portland Development Commission make the changes, and watch city hall, Multnomah County, Portland Public Schools, and the county library district all reap millions of property tax revenues over the next 30 years that otherwise would have been spent on more urban renewal projects.
The first chart (with the dollar amounts meant to be read as millions) shows year by year how much would come in. The city alone can expect nearly $50 million.
And this chart shows which shifts are creating the most money. Pulling out the Pearl District is a big driver, unsurprisingly. This chart also shows that the city would get even more money if it weren't trying to sweeten the demise of the PSU district by throwing more cash into a bordering district and investing in a few other spots.
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