The Medford City Council announced in a press conference this afternoon it plans to take control of the Medford Urban Renewal Agency.

A media release said the move will eliminate duplication and result in cost savings, but it did not specify how much.

Officials said the city is committed to completing The Commons, a multiblock downtown revitalization project, the facade improvement program and the Evergreen project.

MURA uses tax-increment financing (when properties in MURA‘s boundaries increase in assessed value, the agency gets the difference in taxes paid) to make improvements to the downtown. It was established in 1988 and is scheduled to sunset in 2013.

— Damian Mann