Annual Reports

The Madras Urban Renewal Plan was adopted by the City Council of the City of Madras on August 13, 2002 via City Ordinance No. 700, which also established the Madras Urban Renewal District. The purpose of Urban Renewal Plan is to:

• Eliminate blighted condition;
• Reverse physical and economic decline;
• Establish a maximum indebtedness of $14 million;
• Identify financing methods to eliminate blight and improve economic conditions.

The District is located primarily along the Highway 97 commercial corridor that extends from Lee Street in the north and Hall Street in the south. Property taxes are imposed on the increases in property values on the assessed value within the District. The District receives property taxes (tax increment) to fund projects that are consistent with the District's Urban Renewal Plan.

ORS 457.460 requires urban renewal agencies to provide a summary of their finances for public information. Additional reporting for the MRC includes the adoption of its biennial budget and its annual independent audit.

Copies of the Madras Urban Renewal Plan and Urban Renewal Action Plans can be found on the Madras website. https://www.ci.madras.or.us/bc-mrc