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Multnomah County, the Portland Development Commission and the city of Portland launched a program this week that will create small 鈥渘eighborhood opportunity districts鈥� to boost businesses in target areas and demographics.

The program, called the Neighborhood Prosperity Initiative, will create small urban renewal areas in 鈥減riority neighborhoods.鈥� The program’s criteria for such neighborhoods are in the proposal stage, but include qualifications for areas 鈥渆xperiencing lagging commercial investments鈥� with a concentration of minority-owned or serving businesses, high poverty, low income and commercial zoning. Projects within the new areas would take advantage of urban renewal funding on a small scale.

The program has identified six proposed areas: Northeast 42nd Avenue; Northeast Cully Boulevard; Parkrose; Rosewood; and two areas along Southeast Division Street. The PDC plans to reach out to the proposed areas in the coming months. Areas that express interest will be required to submit letters of interest and commit to local fundraising and volunteer hours. The URAs will be established in February 2012, according to an initial timeline released this week.