PENDLETON – The Pendleton Development Commission is holding a special meeting Friday at 1 p.m. to consider urban renewal fund support for a proposal to renovate the Marigold Hotel on Southeast Court Avenue to an extended stay facility. There is currently a bottleneck in urban renewal funding, and the PDC will consider moving this project to the forefront.
“It’s a significant opportunity for the city,” City Manager Robb Corbett said. “It takes an important commercial asset in our downtown core and promises to convert it.”
Corbett added that it is made even more significant because of Pendleton’s housing shortage.
“We’re going to lay out the information to the Pendleton Development Commission and they’re going to weigh the ability to make a commitment to them in the form of a grant in light of the fact that we have this bottleneck with urban renewal funds,” Corbett said.
The bottleneck is not due to a lack of money.
“We have a lot of money left we’re authorized to invest in the urban renewal district,” Corbett said. “The limitation is on how much tax money comes in.”