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<p class="MsoNormal"><b><u><span style="color:red">This email is being forwarded over the OMS listserv. All responses will be over the listserv.<o:p></o:p></span></u></b></p>
<p class="MsoNormal"><span style="color:red">See -attached. Important info re: use of TIF (Urban Renewal) funds.<o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> Mary Bosch <mary@marketekinc.com> <br>
<b>Sent:</b> Wednesday, March 25, 2020 4:36 PM<br>
<b>To:</b> STUART Sheri * OPRD <Sheri.Stuart@oregon.gov><br>
<b>Cc:</b> OEDA Director <director@oeda.biz><br>
<b>Subject:</b> Fwd: For Immediate Release: OEDA TIF Committee Statement on TIF Uses for Business Assistance<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Hi Sheri, <o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt">From Avery Pickard, ED at OEDA.<o:p></o:p></p>
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<p class="MsoNormal">Mary Bosch <o:p></o:p></p>
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<p class="MsoNormal">MARKETEK<o:p></o:p></p>
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<p class="MsoNormal">503.504.6770<o:p></o:p></p>
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Begin forwarded message:<o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt"><b>From:</b> <a href="mailto:director@oeda.biz">
director@oeda.biz</a><br>
<b>Date:</b> March 25, 2020 at 4:07:52 PM PDT<br>
<b>To:</b> Mary Bosch Marketek <<a href="mailto:mary@marketekinc.com">mary@marketekinc.com</a>><br>
<b>Subject:</b> <b>FW: For Immediate Release: OEDA TIF Committee Statement on TIF Uses for Business Assistance</b><br>
<b>Reply-To:</b> <<a href="mailto:director@oeda.biz">director@oeda.biz</a>><o:p></o:p></p>
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<p class="xmsonormal">Mary,<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">Would you mind forwarding to your contact at the Main Street group? I actually don’t have a good contact there although I should. This should reach that group as I know the urban renewal conversation is happening a few places right now.
Thank you and I hope you are well!<o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal">Avery P.<o:p></o:p></p>
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<p class="xmsonormal"><i><span style="font-family:Bitter">FOR IMMEDIATE RELEASE:
</span></i><o:p></o:p></p>
<p class="xmsonormal"><i><span style="font-family:Bitter">March 25, 2020 <br>
Contact: Avery Pickard<br>
541.623.0064 <br>
<a href="http://www.oeda.biz">www.oeda.biz</a></span></i><o:p></o:p></p>
<p class="xmsonormal"><i><span style="font-family:Bitter"><a href="mailto:director@oeda.biz">director@oeda.biz</a></span></i><o:p></o:p></p>
<p class="xmsonormal" style="text-align:justify"><i><span style="font-family:Bitter"> </span></i><o:p></o:p></p>
<p class="xmsonormal" align="center" style="text-align:center"><b><i><span style="font-family:Bitter"> </span></i></b><o:p></o:p></p>
<p class="xmsonormal"><b><i>OEDA TIF Committee Statement on use of Tax Increment Finance Funds
<br>
Related to Coronavirus Response</i></b><o:p></o:p></p>
<p class="xmsonormal"><b><i> </i></b><o:p></o:p></p>
<p class="xmsonormal"><i>Oregon- Today Oregon Economic Development Association (OEDA) and its Tax Increment Finance (Urban Renewal) Committee is releasing guidance on the use of tax increment funds for response related to coronavirus impact on business:</i><o:p></o:p></p>
<p class="xmsonormal"><i> </i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">In the midst of this crisis, we recognize that communities are leaving no stone unturned to locate funding to support businesses. Several communities have reached out about whether
jurisdictions can utilize Tax Increment, or urban renewal, funds to create loan or grant programs to support businesses.</span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black"> </span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">Unfortunately, the answer to this question is No.</span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black"> </span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">It is the longstanding interpretation in Oregon that other than TIF administration for running the program, funds may only be used for capital infrastructure. Years of discussion with
taxing districts, professional trainings, and best practices recommendations have reinforced the standard that <b>communities may not use TIF for functions like marketing, promotions, business salaries, operational costs, routine maintenance, and the like.</b>
</span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black"> </span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">A use of funds that ignores statute and interpretive precedent to meet a pressing need could put this critical tool at risk after this crisis and be held up as a reason why the tool
requires more oversight, more restrictions in statute, or why it merits elimination altogether.</span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i> </i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">Our organization held internal conversations to discuss this option and even explored re-examining governing statute ORS 457 in an upcoming special session. In consultation with our
team and with taxing district partners at Special Districts of Oregon (SDAO) our organization do not see a path forward.
</span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i> </i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">One legal option that communities may wish to consider is an under-levy to access more unrestricted funds. This maneuver would be formalized through the jurisdictional budget process
and would proportionately under-levy to all taxing districts. <a href="https://oeda.biz/wp-content/uploads/2020/03/2020-UR-agency-memo-_underlevy.pdf">
This memo</a> prepared by key TIF consulting partner Elaine Howard Consulting LLC provides more information on this option.</span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i> </i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">We join TIF partners and the economic development community in continued work to bring to bear every assistance strategy available and are inspired by the tireless work occurring in
communities across Oregon to respond to this virus and its impacts.</span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black"> </span></i><o:p></o:p></p>
<p class="xmsonormal" style="background:white"><i><span style="color:black">If practitioners in in your communities have questions, please have them contact Avery Pickard, OEDA Executive Director at
<a href="mailto:director@oeda.biz">director@oeda.biz</a>.</span></i><o:p></o:p></p>
<p class="xmsonormal"><b><i><span style="font-family:"Garamond",serif"> </span></i></b><o:p></o:p></p>
<p class="xmsonormal"><b><i><span style="font-size:10.0pt">About Oregon Economic Development Association</span></i></b><i><span style="font-size:10.0pt">:<b>
</b>OEDA is the statewide association for Oregon’s economic development community that works on the front line in job creation and expansion of Oregon's economy. OEDA’s TIF Committee specializes in advocacy, education and best practices regarding tax increment
finance. </span></i><o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
<p class="xmsonormal"><b><i> </i></b><o:p></o:p></p>
<p class="xmsonormal"><br>
Oregon Economic Development Association<o:p></o:p></p>
<p class="xmsonormal"><a href="https://oeda.biz/">https://oeda.biz</a> <o:p></o:p></p>
<p class="xmsonormal">(541) 623-0064<o:p></o:p></p>
<p class="xmsonormal">OEDA <a href="https://www.facebook.com/OregonEcoDev/">Facebook</a> |
<a href="https://twitter.com/OregonEcoDev">Twitter</a> | L<a href="https://www.linkedin.com/company/oregon-economic-development-association/">inkedIn</a><o:p></o:p></p>
<p class="xmsonormal"> <o:p></o:p></p>
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