What is Portland deciding about city Council convenes as Prosper Budget Committee to approve the FY 2026-27 Budget?

Council is convened as the Prosper Portland Budget Committee to approve the FY 2026-27 Proposed Budget. Requested amendments to the Proposed Budget and approval of amendments may be introduced and voted on prior to final budget approval.

The reviewed sources do not clearly identify every existing policy, service, contract, or obligation that would remain unchanged.

This proposal concerns budget, taxes & finance and requires action through Portland’s public legislative process.

Prosper Portland staff developed the FY 2026-27 Draft Budget in close collaboration with the 15-member Community Budget Committee (CBC), whose members reflect a diverse cross-section of Portland's communities, industries, and neighborhoods. Through four meetings during the budget cycle, the CBC provided input to ensure the budget reflects community priorities. The Prosper Portland Board also held a public work session on January 28, 2026, to review General Fund programming and TIF district plans included in the Proposed Budget.Prosper Portland's FY 2026-27 Proposed Budget advances community-centered interventions and investments aligned with Advance Portland: A Call to Action for Inclusive Economic Growth. This budget is designed to support Portland's small businesses, traded sector industries, and Central City and neighborhood commercial districts by helping them stabilize, grow, and better serve their communities. These outcomes are achieved through community-driven, equity-focused programs such as IBRN, Mercatus, My People's Market, Portland Means Progress, TIF district action plans, small business grants and loans, and the Neighborhood Prosperity Network.Recognizing the importance of strong, diverse small businesses to thriving communities, the budget prioritizes resources for workforce training and development, business expansion, and innovation. These investments help local workers access quality jobs, support entrepreneurs in growing their businesses, and enable industry partners to deliver sustainable, green products and services. The budget also supports activation of major events that increase foot traffic, strengthen neighborhood vitality, and boost tourism, benefiting local businesses and residents alike. Continued funding from the Recreational Cannabis Tax fund for Reimagine Oregon and IBRN ensures sustained support for communities historically underserved by economic development programs.Ongoing engagement with community and neighborhood organizations further informed the status and direction of TIF districts and their action plans, ensuring that investments are responsive to local needs and priorities. The CBC's input is documented in a letter included in the Budget Process section of the Proposed Budget. These continued partnerships help ensure that economic development strategies in FY 2026-27 are shaped by and for the communities they serve.