Urban Renewal Agency

Notice of Budget Hearing

A public meeting of the Sherwood Urban Renewal Board will be held on Tuesday, June 18, 2024 at 7:00 p.m. at 22560 SW Pine Street, Sherwood, Oregon. The purpose of this meeting is to
discuss the budget for the fiscal year beginning July 1, 2024 as approved by the Sherwood Urban Renewal Budget Committee. A summary of the budget is presented below. A copy of the
budget may be inspected or obtained at City Hall, 22560 SW Pine Street, Sherwood, Oregon, between the hours of 8:00 a.m. and 5:00 p.m. or online at www.sherwoodoregon.gov. This
budget is for an annual budget period. This budget was prepared on a basis of accounting that is the same as the preceding year.

The Urban Renewal Agency was formed to redevelop underutilized and blighted areas in Sherwood, including Old Town. While a separate and distinct agency was formed according to Oregon statute, the governing board consists of the same group of people as the Sherwood City Council. This is common among URAs throughout Oregon. The agency and its activities are funded by tax increment financing.

For more information on urban renewal areas, check out this video! URA 101

The City currently has two active Urban Renewal Areas (URA):