Grimm? LOL

There is absolutely no mystery here. This is yet another planner's raid on basic service's budgets.

And of course, as usual, perpetrated under false pretenses of not doing so and misrepresentations of nearly all aspects of this widely abused funding scheme.
There is no "sunset".
The claim that it will is one of many tactics to get people to "like" the plan.

In truth this Urban Renewal will unfold like many others. Right out of the gate the TIF (Tax Increment Financing) revenue will be insufficient and not allow the needed borrowing capacity so a new formula will be cooked up. Then the estimates for the various projects will all be short requiring many more millions.
In a couple years the City Council will increase the debt capacity just as Wilsonville recently increased theirs by $33 million.
All told it will indeed "go on and on". That's NOT good news for the rest of the taxing districts in the long term because it will take many years longer till the bonds are paid off.
This is all so predictable and the League of Oregon Cities knows it well.
In just a few short years Warrenton will be asking, begging and threatening the voters for a new operating levy to fund basic services. Just as Wilsonville did without mention of their Urban Renewal vanquishing of basic services budgets.
Here we have a new fantasy, "if the bonds are paid off early" that takes the UR whoppers to a new level. This is the whopper trend as municipalities follow the LOC play book.
Besides over budget projects and increased debt capacity, granting tax breaks in the district will further the time this UR will need to return the property taxes to basic services.

Modeled after other cities such as Tigard's recent con job this will likely move forward. Tigard voters were asked to vote for a 20 year $22 million Urban Renewal plan. The small print at the time forecasted the need for $39 million and 28 years to pay it off.

Watch out for this official maleficence.
The Tigard City attorney went so far as to say in a public hearing that "all of the money would come from development generated by the UR plan, which would not otherwise happen."
Tigard's plan would immediately start diverting property taxes from 200 acres of existing development and do so for at least 30 years. The attorney could not have been more dishonest.

Beware Warrenton citizens. You are about to be lied to across the board.

If it is desired that your city spend tax dollars to "invest" in a makeover have a vote on a new bond measure to fund it, then make sure no liars are managing the effort and projects.

That URD law is like a hammer. A city can use it to build something good, or use it to smash up their fingers.

Look at what Warrenton wants to spend the money on - road work, sidewalks, marina improvements. If this magically stimulates development that increases property tax revenues, it just might work. But if the city doesn't negotiate hard to leverage these improvements to bring development to the city, then they'll have nice sidewalks with no more development than would have happened without the bond, and end up digging a bigger hole for themselves.

Similar dynamic in Portland - the bond money has clearly stimulated development, but it doesn't look like the city negotiates to leverage the money to bring as much development and tax base as possible.

Yes, and meanwhile school spending advocates in Warrenton will scream that their schools are underfunded while money that would otherwise go to schools goes instead to the URD projects. Maybe the Legislature can increase school funding by double-digits again next Session.

the whole funding bill was "bill the rapist" idea while he was at the whole house....

it was supposed to be a gift to both democrats and republicans back home....

enjoy!! and do steal fast!!!