What is the Long Term-impact of the District?

In its first year, the District is expected to generate added value of $15,995,148 increasing to $412,152,233 in the last year of the District, at which time the entire value of real property will be returned to the tax rolls.

In its first year, revenues forgone by the City of Canby will equal $55,801, increasing to $1,437,834 in the last year of the District. All taxing entities, including Fire District 62, Clackamas Community College, and the Canby School District will experience forgone revenues of different amounts.

The Plan anticipates that the affected taxing entities will “recoup all forgone revenues within eight years from the cessation of urban renewal tax collection, or by FY 2029-30.”