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The Portland Development Commission is planning to add slightly more than 45 acres to the North Macadam Urban Renewal Area, in hopes that the expansion will increase tax-generated revenue that can be used to finance development projects in the area.

The commission has released a draft report outlining the expected impacts 鈥� fiscal, physical and social 鈥� the expansion would have on the existing URA, which was established in 1999.

In June 2014, the PDC established an advisory committee of citizens and stakeholders who met five times to provide input on the proposed expansion area. The commission also met with neighborhood associations and the public at multiple meetings and open houses.

鈥淭he need is there now,鈥� PDC spokesman Shawn Uhlman said. 鈥淧DC wants to impact things now, and by moving the amendment forward we can continue plans for developments with (Portland State University and ZRZ Realty).鈥�

The proposed expansion includes land that the PDC and PSU have developed together, which will allow development to progress. The PDC is still in talks with ZRZ Realty to move forward on the South Waterfront development that will include part of the 33-acre Zidell Yards.

The original URA covers 447 acres and extends north and east (to the Willamette River) from the intersection of Southwest Boundary Street and Macadam Avenue, until just north of the Ross Island Bridge, where the western URA boundary extends to Naito Parkway, with another slight jog west to Southwest First Avenue. Southwest Montgomery Street was established as the northernmost boundary of the URA.

The expanded 45.12 acres is a contiguous area (approximately) bounded to the west by Southwest Fourth Avenue and to the north by Southwest Market Street.

The original URA was established to 鈥渆nable redevelopment of the North Macadam area to fully utilize its potential as an employment center with the characteristics of a viable neighborhood, including adequate housing, infrastructure, transportation, and supportive businesses, amenities and services,鈥� according to the 1999 final plan.

The new boundaries were established to enhance and continue those goals, according to PDC Central City Manager Lisa Abuaf.

鈥淭he boundary expansion, in many ways, has a close nexus with the expansion at PSU,鈥� she said. 鈥淏ut it’s on par with the level of importance of moving forward with the South Waterfront affordable housing project.鈥�

Abuaf said that if Portland City Council approves the expansion, the increase in URA properties will generate $47 million toward housing development and redevelopment over a 10-year period. Without the increase, Abuaf said the PDC has about $9 million for housing during the same period.

Though the increase in tax revenue would come from the North Macadam expansion, the dollars generated can be spent anywhere inside the URA boundaries, including the South Waterfront.

鈥淲e’ve designated a large amount in the first two years to get the first project started,鈥� Abuaf said. 鈥淐ertainly that first project is targeting Parcel 3.鈥�

Parcel 3 is a two-acre, PDC-owned property at 2095 S.W. River Parkway. The PDC and the Portland Housing Bureau are working together to offer the parcel for development.

鈥淭he property has the potential for 400 units, and what we’re going to be looking for is proposals for a mixed-use, mixed-income project,鈥� Abuaf said. 鈥淭he solicitation will call for the project to have a minimum of 200 units, with 62 of those serving tenants making 60 percent or less of the median family income.鈥�

In 2003, the Portland City Council set goals for the North Macadam URA that called for creating 479 affordable housing units. To date, 209 have been constructed.

The draft report estimates that the PDC will have $19 million available in fiscal years 2015-16 and 2016-17 for housing development.

鈥淎s soon as the amendment is approved we can move forward on the Parcel 3 development,鈥� Abuaf said. 鈥淧SU is also waiting until the amendment is approved to get started. The funding isn’t there without it.鈥�

Abuaf was among a group that on Thursday presented the draft report to City Council.

鈥淭here are a lot of details to work out,鈥� she said. 鈥淎t the end of the hearing they decided to come back in two weeks and decide how to proceed after that.鈥�