Could This be The Most UNDERreported Story of the Year/Decade?

They just never get enough of your money, that’s why they keep asking for higher taxes and fees. Now the Zero FINALLY (although obliquely) confirms what talkers and naysayers have been telling you for years: Urban Renewal is good for Homer Halliburton Williams but bad for Portland schools, fire fighters and police. Go here for the story. Here’s the nut:

Portland should end two downtown economic development districts early, advisers say — a rare move that would forgo roughly $50 million for building projects, but eventually return millions of dollars to schools and county-run social services.
Cogen and other county and school officials urged Portland to end the districts as soon as possible, so they could get back the taxes they are forgoing.
When the two urban renewal areas are paid off, the county should get $3.7 million a year, with schools getting $4.3 million a year and Portland getting $5.4 million.

But they still haven’t learned their lesson:

The Portland Business Alliance also urged the advisory group to end the districts early. Once the districts are paid off, the city can start a new downtown renewal district, said alliance official Marion Haynes. Because of URA rules, a new area could be bigger and yield more money than the city could get by extending the existing areas.

Tell ’em where you saw it. Http://www.victoriataft.com

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