(1) In each municipality, as defined in ORS 457.010, there hereby is created a public body corporate and politic to be known as the “urban renewal agency” of the municipality. However, the urban renewal agency shall not exercise its powers until or unless the governing body of the municipality, by nonemergency ordinance, declares that blighted areas exist in the municipality and that there is need for an urban renewal agency to function in the municipality and elects to have the powers of an urban renewal agency exercised in any of the three ways provided in ORS 457.045.
(2) An urban renewal agency, upon activation under subsection (1) of this section, shall have authority to exercise its powers within the same area of operation given a housing authority of the municipality under ORS 456.060. [Formerly 457.130]
Section: Previous 457.010 457.020 457.025 457.030 457.035 457.040 457.045 457.050 457.055 457.060 457.065 457.070 457.075 457.080 457.085 NextLast modified: August 7, 2008