As used in sections 3.450 to 3.454, unless the context requires otherwise:
Economic Improvement:
(a) 
The planning or management of development or improvement activities.
(b) 
Landscaping or other maintenance of public areas.
(c) 
Promotion of commercial activity or public events.
(d) 
Activities in support of business recruitment and development.
(e) 
Improvements in parking systems or parking enforcement.
(f) 
Any other economic improvement activity for which an assessment may be made on property specially benefited thereby.
Lot.
A tax lot.
"Recorder"
has the meaning given that term in ORS 223.387.
(1) 
The council may enact ordinances making assessments for the cost of economic improvements upon the lots which are specially benefited by all or part of the improvement.
(2) 
In any such ordinance adopted pursuant to subsection 1 of this section, the city shall not be authorized to:
(a) 
Levy assessments in an economic improvement district in any year that exceed 1 percent of the real market value of all the real property located within the district.
(b) 
Include within an economic improvement district any area of the city that is not zoned for commercial or industrial use.
(c) 
Levy assessments on residential real property or any portion of a structure used for residential purposes.
(1) 
Any assessment ordinance adopted pursuant to section 3.352 shall:
(a) 
Describe the economic improvement project to be undertaken or constructed.
(b) 
Contain a preliminary estimate of the probable cost of the economic improvements and the proposed cost formula for apportioning cost to specially benefited property.
(c) 
Describe the boundaries of the district in which property will be assessed.
(d) 
Specify the number of years, to a maximum of three, in which assessments will be levied.
(e) 
Contain provision for notices to be mailed or delivered personally to affected property owners that announce the intention of the council to construct or undertake the economic improvement project and to assess benefited property for a part or all of the cost. The notice shall state the time and place of the public hearing required under paragraph (f) of this subsection.
(f) 
Provides for a hearing not sooner than 30 days after the mailing or delivery of notices to affected property owners at which the owners may appear to support or object to the proposed improvement and assessment.
(2) 
When after the hearing held under subsection (1)(f) if the council proposes to adopt an assessment ordinance authorized by section 3.452 the council shall:
(a) 
Provide that if, after the hearing held under subsection (1)(f) of this section, the council determines that the economic improvement shall be made, the council shall determine whether the property benefited shall bear all or a portion of the cost and shall determine, based on the actual or estimated cost of the economic improvement, the amount of assessment on each lot in the district.
(b) 
Require the finance director or other person designated by the council to prepare the proposed assessment for each lot in the district and file it in the appropriate city office.
(c) 
Require notice of the proposed assessment to be mailed or personally delivered to the owner of each lot to be assessed, which notice shall state the amount of the assessment proposed on the property of the owner receiving the notice. The notice shall state the time and place of a public hearing at which affected property owners may appear to support or object to the proposed assessment. The hearing shall not be held sooner than 30 days after the mailing or personal delivery of the notices.
(d) 
Provide that the council shall consider such objections and may adopt, correct, modify or revise the proposed assessments.
(e) 
Notwithstanding the provisions of Section 77 of the city charter, the council shall provide that the assessments will not be made and the economic improvement project terminated if written objections are received at the public hearing from owners of property upon which more than 33 percent of the total amount of assessments is to be levied.
(3) 
The council may require establishment of an advisory committee for each economic improvement district to allocate expenditures of money for economic improvement activities within the scope of this act. If an advisory committee is created, the council shall strongly consider appointment of owners of property within the economic improvement district to the advisory committee. The advisory committee may be an existing association of property owners or tenants. An advisory committee may enter into an agreement with the city to provide the proposed economic improvement.
(4) 
If the council considers it necessary to levy assessments upon property in an economic improvement district for longer than the period of time specified in the assessment ordinance that created the district, the council shall enact an ordinance that provides for continued assessments for a specified number of years. Any such ordinance shall grant to property owners in the district the notice and right of remonstrance described in subsection (2) and ORS 223.118.
(5) 
When the amount of the assessments to be levied upon property in an economic improvement district has been set by the council pursuant to an ordinance authorized by this act, there shall be no change in the amount of the assessment unless any such change is:
(a) 
Adopted by ordinance; and
(b) 
The ordinance grants to property owners in the district the notice and right of remonstrance described in subsection 2 of this section.
(6) 
The council shall not expend any monies derived from assessments levied under an ordinance authorized by section 3.452 for any purpose different from the purpose described in the ordinance adopted pursuant to section 3.452.