PDC grants will become smaller and rarer
By Terry Murry on Thursday, March 23rd, 2023 in Columbia Basin News More Top Stories
PENDLETON – The Pendleton Development Commission’s urban renewal grants starting next year will be fewer and smaller. Mayor John Turner said that the city has a $10 million line of credit that will probably be increased to $15 million. Meanwhile, as with any line of credit, the borrower has to make payments to the lender.
“The payment on that, starting next year, is somewhere in the ballpark of $750,000 a year,” Turner said. “The PDC brings in through tax incremental funding about $1.1 million and there are some administrative costs too.”
That means the days of big grants for an urban renewal project are coming to an end.
“The nature of doing business with the PDC in the coming years will be less generous grants and fewer of them,” Turner said.
The Pendleton Development Commission is comprised of the city’s council members. The regular PDC meeting is on the second Tuesday of each month at 6 p.m.
