HomeMy WebLinkAboutTCDA Resolution No. 25-04 CITY OF TIGARD, OREGON
TOWN CENTER DEVELOPMENT AGENCY RESOLUTION NO. 25-0y
A RESOLUTION AMENDING THE EXPIRATION DATE OF THE DEVELOPMENT
ASSISTANCE AGREEMENT WITH AVA TIGARD DEVELOPMENT, LLC.
WHEREAS, the Tigard Town Center Development Agency approved a development assistance
agreement with AVA Tigard Development, LLC on May 23, 2023 with Resolution 23-03;and
WHEREAS, the agreement authorized$300,000 in development assistance to AVA Tigard
Development to address unanticipated site conditions; and
WHEREAS,in 2023-2024, AVA utilized $227,584 of the funding to pay for System Development
Charges for the project and wishes to use the remaining$72,416 to pay for additional System
Development Charges for the completed project;and
WHEREAS, the development agreement has an expiration date of December 31, 2024,with the
option for the parties to extend the expiration date.
NOW, THEREFORE, BE IT RESOLVED, by the Tigard Town Center Development Agency that:
SECTION 1: The development agreement is amended to extend the
expiration date from December 31, 2024, to September 15, 2025, as
shown in Exhibit A.
SECTION 2: This resolution is effective immediately upon passage.
PASSED: This la day of LA k ,2025.
Chair—City of Tigard
Town Center Development Agency
ATTEST:
Recorder—City of Tigard
Town Center Development Agency
TCDA RESOLUTION NO.25-p41
Page 1
EXHIBIT A
AMENDMENT TO DEVELOPMENT ASSISTANCE AGREEMENT
This Amendment to Development Assistance Agreement ("Amendment") is made this
day of August, 2025 ("Effective Date") by and between the Town Center Development
Agency, an ORS Chapter 457 urban renewal agency ("TCDA") and AVA Tigard Development, LLC, an
Oregon limited liability company ("AVA"). TCDA and AVA may be referred to in this Agreement jointly
as the "Parties" and individually as a "Party."
RECITALS
A. AVA and TCDA entered into a Development Assistance Agreement for development of the real
property located at 12539-12547 SW Main Street,Tigard, Oregon (the "Property").
B. Development of the Property took longer than expected and the parties now wish to amend the
Development Assistance Agreement to extend the term to allow for completion and final payment.
AGREEMENT
1. Section 2.3 of the Development Assistance Agreement is hereby amended to expire on September
15, 2025, after which time TCDA has no financial obligation to AVA 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 executed this Amendment as of the day and year set
forth above.
TOWN CENTER DEVELOPMENT AGENCY,
an ORS 457 Urban Renewal Agency,
By: M. Brent Stockwell, Executive Director of the Town Center Development Agency of the City of
Tigard
Signed:
AVA TIGARD DEVELOPMENT, LLC,
an Oregon limited liability company
By:
Name: Amireh Saberiyan
Title: Manager