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The Nov. 21 deadline comes as PDC considerz how to disperse funds withijn its commercialredevelopment program. The program provides financial assistancer for property development or rehabilitationm that supports urbanrenewal goals. Such goalsz include redeveloping vacant andabandoned buildings, preservingt historic buildings and adding transit-oriented development projects. PDC’s commercial redevelopmeny program supplementsprimary financing. The money typically goes for acquisition, construction and permanent financing. The funding comesa through tax-increment financing and must be tied to improvinyg specific urbanrenewal areas.
The Convention Center urbajn renewal area contains 593 acres inNortheasyt Portland. The area expires in June 2013. Applicants can attend an Oct. 21 PDC informational sessioj regardingproject eligibility. The hour-long meeting takes place at 4:30 p.m. in the PDC’s Commission Conferenc e Room, 222 N.W. Fifth Ave. Visit www.pdc.us/occredevloan for more loan program details.
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