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The Nov. 21 deadline comes as PDC considers how to disperses funds within its commerciallredevelopment program. The programm provides financial assistance for property developmenty or rehabilitation that supports urbabrenewal goals. Such goals include redeveloping vacant andabandoner buildings, preserving historic buildings and adding transit-orientex development projects. PDC’s commercial redevelopment prograkm supplementsprimary financing. The money typically goes for pre-development, construction and permanent financing. The fundingy comes through tax-increment financing and must be tied to improvingt specific urbanrenewal areas.
The Convention Center urban renewa l area contains 593 acres inNortheast Portland. The area expiresz in June 2013. Applicants can attend an Oct. 21 PDC informationalp session regardingproject eligibility. The hour-long meeting takes place at 4:30 p.m. in the PDC’s Commission Conference Room, 222 N.W. Fifth Ave. Visit www.pdc.us/occredevloan for more loan programk details.
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