Economic & Capital Development

The Economic and Capital Development Department manages economic development programs and capital projects that support the attraction, retention and expansion of local businesses and enhance the overall economic vitality of Lake Oswego. Working with local, State, Federal and Regional Economic Development Partners and the business community, the Department manages activities and programs in commercial areas throughout the City, including Downtown, Lake Grove Village, the Kruse Way corridor, the Southwest Industrial Area, and Foothills. The Department includes the Lake Oswego Redevelopment Agency (LORA) and is also responsible for capital investment projects including facilities planning and potential creation of a Lake Grove Urban Renewal Area.

Lake Grove Urban Renewal Planning Underway

The City is planning a potential urban renewal district which would help facilitate the implementation of the Lake Grove Village Center Plan.  The Village Center Plan, developed with extensive community participation, identifies projects to improve the Lake Grove area and stimulate private investment, including a major reconstruction of Boones Ferry Road, pedestrian safety improvements, and other public projects.

At the first public meeting on April 4, 2012,  attendees learned about the process of forming an urban renewal district, received general background information about urban renewal, and reviewed financial feasibility work. 

The second meeting was held on May 9, 2012 and a draft proposed urban renewal plan was presented for community review prior to Planning Commission and City Council consideration in the June/July 2012 timeframe. 

Visit our project page for regular project updates.

Urban renewal is a locally implemented program that allows for the use of property tax from growth in valuation for investment in designated areas of a city. Property tax payers will not see an increase in permanent rate property taxes as a result of urban renewal. However, taxes are divided so that amounts collected on the increased assessed value of an area after adoption of an urban renewal plan go to an urban renewal agency for projects within the urban renewal area.   

Lake Oswego Economic Development Strategy

On April 6, 2010, the City Council adopted the Lake Oswego Economic Development Strategy to guide efforts of the City and key partners to improve the community’s economic vitality. The document outlines a vision and five-year action plan organized on a framework of four key objectives:

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