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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Our View: Protect pristine headwaters from nickel mining ... Bumper crop ... Growers and Crafters Market searching for new homes ... Our View: Protect pristine headwaters from nickel mining ... Bumper crop ... Growers and Crafters Market searching for new homes ... MEDFORD Medford urban renewal payments will end in 2018 Taxpayers will see a little relief Comment By Damian Mann Mail Tribune MailTribune.com By Damian Mann Mail Tribune Posted Apr. 27, 2015 at 5:54 PM By Damian Mann Mail Tribune Posted Apr. 27, 2015 at 5:54 PM » Social News A 30-year urban renewal effort should end a little sooner than expected, providing taxpayers with a little relief. The Medford Urban Renewal Agency Budget Committee is recommending a special levy be paid off in 2018 instead of 2025 as originally anticipated. “If you have the money to pay it off, pay it off,” said Alison Chan, Medford’s finance director. “You never know what the future holds.” MURA has financed $67 million worth of projects over the almost 30 years the urban renewal agency has been in existence. Two highly visible projects have been the Commons in downtown Medford and sprucing up Hawthorne Park, but more than half the money raised by urban renewal has gone into parking. Chan said she was able to get bonds with a better interest rate that will allow them to be paid off sooner. The Budget Committee discussed lowering the amount paid through property taxes or paying off the bonds earlier. Ultimately, paying off the bonds earlier won out and will result in greater longterm savings. The 25 cents per $1,000 in assessed valuation will go away once the bonds are paid off. Currently, $19 million in bonds have to be paid off. Chan said $380,000 is still available in MURA’s account that could be spent on other projects. The Budget Committee decided to allocate the money to refurbish the North Riverside Avenue parking lot next to the Inn at the Commons. Reach reporter Damian Mann at 541-776-4476 or [email protected] . Follow on Twitter at @reporterdm . By Damian Mann Mail Tribune MailTribune.com By Damian Mann Mail Tribune Posted Apr. 27, 2015 at 5:54 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501