1. Right-click on the memo field and select Format Section.
2. On the Common tab, unmark the Keep Object Together option. This allows the field to break to the next page if it cannot fit on one page.

Note: This will only work if the memo field is NOT placed in a grouper header or footer section where the Group options are marked to "Keep Group Together."  If is in a group section where the group is marked to keep together, the formatting on the memo field itself will not override the overal formatting for that group.