Stop Wilsonville Urban Renewal Scam (No Measure 3-605)

Vote No on Wilsonville Urban Renewal property tax measure 3-605
By Taxpayers Association of Oregon
OregonWatchdog.com

Voters should say NO to stealing funds away from police and fire emergency services to fund private corporations.

Stop the Urban Renewal Scam. Urban Renewal is a public debt mechanism used to subsidize traffic-causing high-density developments. It siphons away money that was specifically approved for Police, Fire, Libraries or Schools to repay the debt and interest for DECADES. Wilsonville generated the highest per capita Urban Renewal debt in Oregon – tell the City “No new Urban Renewal Debts.”

Tax Increment Financing (TIF) funds can be used only in the urban renewal area. That means the TIFs deprive the city’s general fund-and other local governments-of increased property tax revenues from the district.

Will the money materialize? If the economy declines or Wilsonville bungles the investments, the tax revenues may not come, leaving the city’s taxpayers on the hook for the shortfall.

— Vote No on Wilsonville Urban Renewal property tax measure 3-605

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