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11/05/2013 - Voters Approve Urban Renewal Charter Fix . City of Tigard Press Release 13125 SW Hall Boulevard Tigard, Oregon 97223 www.tigard-or.gov FOR IMMEDIATE RELEASE November 5, 2013 Contact: Marty Wine, City Manager City of Tigard 503-718-2486 marty@tigard-or.gov Voters Approve Urban Renewal Charter Fix Tigard voters approved an amendment to the city's Charter by a wide margin on Tuesday. The charter amendment clarifies urban renewal provisions. In 2006,Tigard voters approved the City Center Renewal Plan. But changes in Oregon property tax law adopted in the 1990s caused a conflict between the city's Charter provisions approved in 1983 and the state law. Approval of the charter amendment allows the city to obtain bonding necessary to fully implement the approved plan. "I'm looking forward to partnering with developers and private property owners to move ahead on some of the redevelopment projects envisioned in the city center renewal plan", commented Mayor John Cook. The portions of the Charter requiring voter approval for any amendment to the plan that might impose additional property taxes remains in effect. The city will continue to work within the limits set by that plan; limiting the city to a maximum indebtedness of$22 million for a geographic area that covers 193 acres. Tigard voters will continue to have the same voting rights as authorized by the plan,which calls for a public vote on any amendment that would increase the maximum amount of indebtedness or expand the urban renewal area by more than one percent of the total plan area. Page 1 of 1