TCDA Resolution No. 24-04 CITY OF TIGARD, OREGON
TOWN CENTER DEVELOPMENT AGENCY
RESOLUTION NO. 24- soy
A RESOLUTION AUTHORIZING THE EXECUTIVE DIRECTOR OF THE
TOWN CENTER DEVELOPMENT AGENCY TO SIGN AN AMENDMENT TO
THE DEVELOPMENT ASSISTANCE AGREEMENT WITH FAMILY PROMISE
OF TUALATIN VALLEY
WHEREAS, on March 23, 2023 the Board of the TCDA approved a Development Assistance
Agreement with Family Promise of Tualatin Valley (FPTV),and
WHEREAS, the agreement set the terms for$1,000,000 in TIE development assistance funding
for FPTV's purchase and improvement of a hotel property in the Tigard Triangle
for use as transitional housing, and
WHEREAS, FPTV has completed the acquisition, partially with the approved funds, and is
operating"A Bridge to Home" transitional housing, and
WHEREAS, the building improvement projects are now underway, but will not be completed
until after the original expiration of the development assistance agreement of
December 31, 2024,and
WHEREAS, FPTV has requested an additional six months to complete the renovations project,
partially funded by the approved grant.
NOW,THEREFORE, BE IT RESOLVED,by the Tigard Town Center Development Agency that:
SECTION 1: The Executive Director is authorized to execute the Amendment to the
Development Agreement, extending the agreement to June 30, 2025
in substantially the form attached as Exhibit A, subject to final legal review.
SECTION 2: This resolution is effective immediately upon passage.
PASSED: This 3rd day of , 2024.
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Chair—City of Tigard
Town Center Development Agency
A 1-1'EST:
�4oYAL
Recorder—City of Tigard
Town Center Development Agency
EXHIBIT A
FIRST AMENDMENT TO DEVELOPMENT ASSISTANCE AGREEMENT
THIS FIRST AMENDMENT TO THE DEVELOPMENT ASSISTANCE
AGREEMENT ("Amendment") is made this day of 21)24 ("Effective Date") by
and between the Town Center Development Agency, an ORS Chapter 457 urban renewal agency
("TCDA") and Family Promise of Tualatin Valley, an Oregon nonprofit corporation ("FPT "').
RECITALS
A. TCDA and FPTV entered into a Development Assistance Agreement ("Agreement") effective June
6, 21)23 for FPTV to purchase property in the Tigard Triangle TIE District for use as emergency
shelter and transitional housing for families and adults and to perform renovations on the building
("Project").
B. FPTV has completed the acquisition, partially with Development Assistance funds, and is operating
the transitional housing.
C. FPTV's renovation project at the property, which is partially funded by Development Assistance
funds, was delayed, but is now underway.
D. Section 2.3 of the Agreement sets December 31, 21124 as the agreement expiration date.
E. FPTV has requested a six-month extension to allow completion of the renovation project.
NOW,THl?REFORF, in consideration of the public benefits to be created by the development of the
Project and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties hereby agree as follows:
AMENDMENT:
1. Section 2.3 of the Development Assistance Agreement is amended to read as follows:
2.3 This Agreement expires on June 30, 21)25, after which time TCDA has no financial
obligation to FPTV unless the Parties extend the term of this Agreement in writing.
2. Except as expressly provided in this Amendment, the terms and conditions of the Development
Assistance Agreement remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly
authorized representatives as of the date first above written.
Executed in multiple counterparts as of the day and year above written.
TOWN CENTER DEVELOPMENT AGENCY,
an ()RS 457 Urban Renewal Agency,
By: Steve Rymer, Executive Director of the Town Center IDevelopment Agency of the City of
Tigard
Signed:
APPROVED AS TO FORM:
By:
Shelby Rihala, City Attorney
FAMILY PROMISE OF TUALATIN VALLEY,
an Oregon nonprofit corporation
By: Family Promise of Tualatin Valley,
an Oregon nonprofit corporation,
By:
Name:
Title:
Page 2 Amendment to Development Assitance Agreement