​​Approve the Cully Tax Increment Financing District Five-Year Action Plan

​​This action by the Portland City Council will provide final approval for the 2026 Cully Five-Year Action Plan (Action Plan) for investing tax increment finance (TIF) resources in the Cully TIF District. Prosper Portland's Board of Commissioners approved the Action Plan on February 11, 2026. For clarity, due to the timing of Action Plan approval and the desire for the plan to be effective for five years after approval, the five-year Action Plan provides guidance on six years of forecasted resources, from FY 2025-26 through FY 2030-31. ​ ​Approval of the community-driven Action Plan will provide Prosper Portland and Portland Housing Bureau direction for TIF investments that meet the priorities set by the CLC. The plan facilitates Portland Housing Bureau's placement of set-aside resources to support regulated affordable housing production in alignment with the City's Housing Needs Assessment and production strategy. The plan is also aligned with the following Advance Portland Strategic priorities and outcomes: ​Objective 2: Promote equitable wealth creation through small business and property ownership ​Objective 3: Foster vibrant neighborhood commercial districts ​Outcome 3.5: Support growth & health of businesses within commercial districts ​Outcome 3.6 Activate vacant properties and storefronts; attract new commercial development ​Outcome 3.7: Improve public streets and sidewalks in select districts to support the vitality of business districts ​Outcome 3.8: Address housing production across a continuum of affordability ​

​​While there are no direct financial impacts, implementation of the 2025 Cully Action Plan is expected to inform the Prosper Portland and Portland Housing Bureau's TIF-related budget proposals that will be approved by City Council and the Prosper Portland Board annually for the next five years. ​

​​The Cully Action Plan was developed through a co-creation process with the CLC, Prosper Portland, and Portland Housing Bureau staff. During the process, the Cully community provided feedback through different public engagement strategies including information sharing, surveys, community presentations, and email blasts. Feedback provided additional guidance for the CLC and City staff. Prosper Portland and Portland Housing Bureau are proposing to direct significant TIF investments to leverage partner investment based on economic strengths and meeting the needs of Cully's diverse residents and businesses. ​ ​Implementation of Prosper Portland's portion of the Action Plan will take advantage of a number of amended or new programs to be launched in Cully to provide financial access to property reinvestment, development, and small business support, including: ​NPN-Administered Micro-Grants will build on the existing relationships between Neighborhood Prosperity Network partners and small businesses in the Cully area. ​Prosperity Investment Program (PIP) grants will continue to lower barriers to entry for larger needs, particularly for businesses struggling to obtain costly credit from financial institutions. ​The Affordable Commercial Tenanting Program will be available to provide grants for improvement to ground floor commercial property in exchange for property owners offering commercial spaces at 10 to 25 percent below market rents. ​The Small Business Loan Program will offer small business loans to pay for PIP match and support larger tenant improvements. ​The Commercial Property Loan Program may be used for predevelopment, tenant improvements, construction financing and land acquisition. ​The Community Livability Grant will support cultural and community assets that promote healthy, complete and resilient neighborhoods while providing a sense of belonging for all residents of Cully. ​Implementation of the Portland Housing Bureau portion of the Action Plan will promote residential and community stabilization through existing programs by providing funding for first-time homebuyers with Down Payment Assistance Loans (DPAL) and subsidies to create new permanently affordable homeownership units. It will support retention of existing homeowners to prevent displacement through home repair grants and loans. The Action Plan directs PHB to develop and implement new programs to stabilize mobile home park residents through unit improvements and pathways to resident or nonprofit ownership, and supports land acquisition for future affordable housing development, including land for permanently affordable homeownership opportunities. ​In addition to the implementation of programs in Cully, the Action Plan outlines future collaboration between Prosper Portland and the Portland Housing Bureau for land acquisition to be used for a mixed-use housing project. ​

The Action Plan was co-created in partnership with Prosper Portland, Portland Housing Bureau, and Cully TIF Community Leadership Committee (CLC) which consisted of 13 Cully community members. PHB and Prosper Portland contracted with partners at the Living Cully Coalition (Verde, NAYA, Habitat for Humanity and Hacienda , CDC) to lead community engagement. Early engagement focused on reinforcing relationships and available avenues for continued engagement, participation and information sharing; and gathering input on immediate priorities for affordable housing and economic and urban development investment. In later stages of engagement, when a draft Action Plan was available for review, a survey (translated to multiple languages) was created and promoted through virtual information sessions, neighborhood flyers, community presentations, and blast emails shared across numerous community networks, including Living Cully Coalition members, Prosper Portland, PHB and the Cully Association of Neighbors (CAN). Through community involvement and public engagement efforts, the voices and perspectives shared are reflected in the Action Plan and help guide the shared vision and investments in Cully. One significant shift made in response to public feedback was a shift of resources to facilitate additional land acquisition for future affordable housing and mixed-use development in the Cully area through a community partners letter developed by Habitat for Humanity, Proud Ground, Verde, and NAYA.