Specifications include, but are not limited to: Services under this contract shall consist of urban renewal financial services to support the creation of new urban renewal areas, to amend existing urban renewal areas, to provide financial analysis and recommendations as it applies to urban renewal areas and related projects. At times there could be coordination work with other City consultants. Creation of New Plans: • Prepare urban renewal area feasiblity study and financial forecast required in accordance with ORS 457. • Update and analyze long-term tax increment projections. Obtain and review building permit data; develop a database of parcels with an urban renewal area and analyze assessed value to real market value ratios; prepare a projection of future total and incremental assessed value within the area; including Measure 5 compression; and prepare financial analysis showing projected debt proceeds and expenditures under established urban renewal plans. • Evaluate proposed boundry for compliance with relevant ORS. • Tax increment forecast and finance plan development. Substantial Amendments to Existing Plans: • Update and analyze long-term tax increment projections. Obtain and review building permit data; develop a database of parcels within a urban renewal area and analyze assessed value to real market value ratios; prepare a projection of future total and incremental assessed value within the area; including measure 5 compression; and prepare financial analysis showing projected debt proceeds and expenditures under established urban renewal plans.
