Incentives & Current Programs
COMMUNITY LENDING WORKS
Community Lending Works, an affiliate of Neighborhood Economic Development Corporation recently established an office in Oregon City and offers a range of lending products for artisans, micro-enterprise, and small business. Loans are considered holistically and may bridge the gap when traditional banks do not. Financing options range from $300 to $50,000.
MAIN STREET REVITALIZATION GRANT PROGRAM
Authorized by the State of Oregon in 2017, the Main Street Revitalization Grant invested nearly $2.5 million in Main Street communities in 2017. Downtown Oregon City received a $100,000 grant which supported the completion of Black Ink Coffee / White Rabbit Gifts and will complete lighting and signage enhancements along Railroad Avenue in early 2018. Currently, the program offers grants up to $100,000 for the acquisition, reuse, or construction of property. Only designated Main Street communities in Oregon are eligible for this grant program. Downtown Oregon City is one of 8 districts within Portland Metro’s urban growth boundary eligible for this program.
In early 2019, the State will make available $5 million in grants, twice the amount of funding available in the programs pilot year.
DIAMONDS IN THE ROUGH GRANT PROGRAM
Administered by Oregon Heritage, up to $20,000 is available to restore or reconstruct facades of buildings that have been heavily altered. Downtown Oregon City’s historic Weinhard Building has benefited from this grant program.
VERTICAL HOUSING DEVELOPMENT ZONE
Mixed use infill projects that include housing are eligible for up to 80% property tax abatement for ten years, 20% for each floor of housing created. This program is administered by the City of Oregon City.
METRO’S TRANSIT ORIENTED DEVELOPMENT PROGRAM
Much of the downtown district is within a short walk of Tri-Met’s Oregon City transit station which is a major bus interchange. Developments within walking distance of the station may be eligible for significant financial investment to support mixed-use and residential development.