Neighborhood Prosperity Initiative
April 16, 2012
Story by Sophia Kecskes
Nick was pleased to join City Council in approving the Portland Development Commission’s (PDC) urban renewal plans for six proposed Neighborhood Prosperity Initiative districts. All of the districts are located in East Portland, and community groups from the six neighborhoods will partner with the City to build capacity for economic development.
Each urban renewal area will receive about $1 million in tax increment revenue, and will decide how to invest that revenue back into their districts. Over the next nine years, this money will be spent on small, tangible projects such as improvements to storefronts, sidewalks, and street lighting.
PDC Executive Director Patrick Quinton said, “we applaud the community work that drove this process forward, and appreciate City Council’s support of this key initiative in our neighborhood economic development strategy.”