The Portland City Council convened on May 21, 2025, to address several key agenda items, primarily focusing on budget amendments and interfund loans. The meeting began with a discussion regarding the correction of financial figures associated with various Tax Increment Financing (TIF) districts. Council members confirmed that an outdated document had been uploaded, necessitating a vote to amend the figures to reflect previously approved amounts.

Councilor Smith inquired about the specific numbers for the TIF districts, which were read aloud by staff. The corrected amounts included $2,575,000 for the Cali TIF district, $975,000 for the 82nd Avenue TIF district, and several others totaling various amounts. Following this clarification, the council voted unanimously, with 12 votes in favor, to approve the amended figures.

The meeting then shifted to a discussion about an interfund loan from the Parks Department to the Fire and Police Disability and Retirement (FPDR) fund. Councilor Kunal raised concerns about ensuring future funding gaps are addressed without relying on Parks funds. Staff member Jonas explained that the need for this loan stemmed from a technical issue in the charter language, which requires that funds collected in November be spent within the same calendar year. This creates a funding gap from July until the collection occurs. The interfund loan was described as a cost-neutral solution to bridge this gap.

Further inquiries from Councilor Greene clarified that this type of interfund loan aligns with city finance policy and is a more efficient approach compared to external market borrowing, which incurs additional costs.

After addressing these financial matters, the council prepared to move into public testimony, noting that a significant number of citizens had signed up to speak, potentially extending the session for several hours. The meeting highlighted the council's ongoing efforts to ensure financial accuracy and address funding mechanisms effectively.