HomeMy WebLinkAboutTCDA Resolution No. 25-03 CITY OF TIGARD, OREGON
TIGARD TOWN CENTER DEVELOPMENT AGENCY
RESOLUTION NO. 25-al
A RESOLUTION TO ADOPT THE FY 2026 FIRST QUARTER BUDGET SUPPLEMENTAL TO TOWN
CENTER DEVELOPMENT AGENCY(TCDA) URBAN DEVELOPMENT.
WHEREAS, the TCDA acknowledges those items that were unknown at the time the FY 2026 budget was
adopted;and
WHEREAS,the TCDA recognizes approximately$9,100,000 of unanticipated budget in capital improvements;
and
WHEREAS, the increase in budget is offset by unanticipated fund balance, from prior year budget now being
carried forward,debt proceeds,and transfers.
NOW,THEREFORE,BE IT RESOLVED by the Tigard Town Center Development Agency that:
SECTION 1: The FY 2025-26 Budget is hereby amended as detailed in Exhibit A.
SECTION: This resolution is effective immediately upon passage.
PASSED: This Oa' day of 2025.
Chair-TCDA
ATTEST:
1/4115-e5Adff-4t-
TCDA Recorder-TCDA
RESOLUTION NO. 25-63
Page 1
Exhibit A
TOWN CENTER DEVELOPMENT AGENCY
ADJUSTED APPROPRIATIONS
JULY 22,2025
Item Request 1 Revised Budget
Fund Program Adopted
City Center Capital Improvements
City Center URA 1,130,300 1,130,300
Capital Improvements - -
1,130,300 1,130,300
City Center Debt Service -
Debt Service 651,891 651,891
Transfer 1,000,000 1,000,000
1,651,891 1,651,891
Tigard Triangle Capital Improvements -
Tigard Triangle URA 3,120,234 Q1TCDA01 (2,150,000) 970,234
Capital Improvements - Q1TCDA01 11,250,000 11,250,000
3,120,234 9,100,000 12,220,234
Tigard Triangle Debt Service -
Debt Service 677,671 677,671
Transfer 1,725,000 1,725,000
2,402,671 2,402,671
All Funds -
City Center URA 1,130,300 1,130,300
Tigard Triangle URA 3,120,234 (2,150,000) 970,234
Debt Service 1,329,562 1,329,562
Transfer 2,725,000 2,725,000
Capital Improvements - 11,250,000 11,250,000
$ 8,305,096 $ 9,100,000 $ 17,405,096
Tigard Triangle Capital Fund Update
REVENUE CATEGORY FY2026 Adopted QITCDA01 FY2026 Revised Q1
Budget Budget
Resources
Beginning Fund Balance $ 1,467,869 $ 2,700,000 $ 4,167,869
Investment Earnings $ 10,000 $ - $ 10,000
Debt Proceeds $ - $ 5,600,000 $ 5,600,000
Transfers In $ 1,725,000 $ 800,000 $ 2,525,000
Total Resources $ 3,202,869 $ 9,100,000 $ 12,302,869
Requirements
TCDA-Tigard Triangle $ 3,120,234 $ (2,150,000) $ 970,234
Program Expenditures Total $ 3,120,234 $ (2,150,000) $ 970,234
Capital Improvement $ - $ 11,250,000 $ 11,250,000
Total Budget $ 3,120,234 $ 9,100,000 $ 12,220,234
Reserve For Future Expenditures $ 82,635 $ - $ 82,635
Total Requirements $ 3,202,869 $ 9,100,000 $ 12,302,869