The Creswell Urban Renewal Agency is the only urban renewal district in place in the city of Creswell.  It is overseen by the members of the city council.  The Creswell Urban Renewal Agency was enacted through ordinance of the city council in August of 2018 with the objectives of eliminating blight and its influences, revitalizing Creswell through attracting new private investment, and enhancing the exiting private and public investments in the area.

Urban Renewal Districts are one of the most utilized economic development tools in Oregon.  As a tax increment finance tool, urban renewal can be hard to understand; however, the core concept of urban renewal is simple.  Urban renewal takes a small portion of the appreciated value of property in a given area and invests it in projects that are expected to increase the overall value of the district over time, eliminate blight, and stimulate investment.  Oregon’s experience with urban renewal suggests that this strategy has been generally successful around the state.