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Home My WebLink AboutTCDA Resolution No. 25-06 CITY OF TIGARD, OREGON TIGARD TOWN CENTER DEVELOPMENT AGENCY RESOLUTION NO. 25- OC A RESOLUTION TO ADOPT THE FY 2026 FIRST QUARTER BUDGET SUPPLEMENTAL TO TOWN CENTER DEVELOPMENT AGENCY (TCDA) URBAN DEVELOPMENT FOR BUDGET ADJUSTMENTS TO CAPITAL IMPROVEMENT PROJECTS AND DEBT SERVICE. WHEREAS, the TCDA acknowledges those items that were unknown at the time the FY 2026 budget was adopted;and WHEREAS, the TCDA recognizes approximately $617,000 of unanticipated budget in operations and transfers;and WHEREAS, the increase in budget is offset by unanticipated fund balance and reserves for future expenditures. 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 'rd day of /g[7916itde 2025. 111 Chair Pro Te ► -TCDA ATTEST: TCDA Recorder TCDA j RESOLUTION NO. 25-O Page 1 Town Center Development Agency Exhibit A Summary of Appropriation Adjustments Fund Category FY2026 Adopted Supplemental FY2026 Revised Q1 _ Budget Adjustments _ Budget Resources Beginning Fund Balance 732,017 - 732,017 City Center Debt Total Resources 1,763,817 - 1,763,817 Requirements Service(930) Total Budget 1,651,891 50,000 1,701,891 Reserves for Future Expenditures 111,926 (50,000) 61,926 Total Requirements 1,763,817 - 1,763,817 Resources Beginning Fund Balance 1,498,377 - 1,498,377 Triangle Debt Service Total Resources 3,413,587 - 3,413,587 (935) Requirements Total Budget 2,402,671 470,000 2,872,671 Reserves for Future Expenditures 1,010,916 (470,000) 540,916 Total Requirements 3,413,587 - 3,413,587 Resources Beginning Fund Balance 144,191 47,000 191,191 City Center Capital Total Resources 1,144,191 97,000 1,241,191 (940) Requirements Total Budget 1,130,299 97,000 1,227,299 Reserves for Future Expenditures 13,892 - 13,892 Total Requirements 1,144,191 97,000 1,241,191 All Funds CITY CENTER URA 1,130,300 - 1,130,300 TIGARD TRIANGLE URA 3,120,234 - 3,120,234 DEBT SERVICE 1,329,562 470,000 1,799,562 TRANSFER 2,725,000 50,000 2,775,000 CAPITAL IMPROVEMENTS - 97,000 97,000 CONTINGENCY - - - $ 8,305,096 $ 617,000 $ 8,922,096 City Center Debt Service Fund Supplemental Update (930) REVENUE CATEGORY FY2026 Adopted Q1PW01 FY2026 Revised Q1 Q1 Budget Budget Resources Beginning Fund Balance $ 732,017 $ - $ 732,017 Property Taxes $ 1,030,530 $ - $ 1,030,530 Franchise Fees $ - $ - $ - Licenses & Permits $ - $ - $ - Intergovernmental $ - $ - $ - Charges for Services $ - $ - $ - Fines & Forfeitures $ - $ - $ - Investment Earnings $ 1,270 $ - $ 1,270 Other Revenue $ - $ - $ - Transfers In $ - $ - $ - Total Resources $ 1,763,817 $ - $ 1,763,817 Requirements Mayor& City Council $ - $ - $ - Engagement& Innovation $ - $ - $ - Investment& Infrastructure $ - $ - $ - Police $ - $ - $ - Program Expenditures Total $ - $ - $ - Debt Service $ 651,891 $ - $ 651,891 Loan to TCDA $ - $ - $ - Capital Improvement $ - $ - $ - Transfers Out $ 1,000,000 $ 50,000 $ 1,050,000 Contingency $ - $ - $ - Total Budget $ 1,651,891 $ 50,000 $ 1,701,891 Reserve For Future Expenditures $ 111,926 $ (50,000) $ 61,926 Total Requirements $ 1,763,817 $ - $ 1,763,817 Triangle Debt Service Fund Supplemental Update (935) REVENUE CATEGORY FY2026 Adopted Q1FINO3 FY2026 Revised Q1 Q1 Budget Budget Resources Beginning Fund Balance $ 1,498,377 $ - $ 1,498,377 Property Taxes $ 1,909,380 $ - $ 1,909,380 Franchise Fees $ - $ - $ - Licenses & Permits $ - $ - $ - Intergovernmental $ - $ - $ - Charges for Services $ - $ - $ - Fines & Forfeitures $ - $ - $ - Investment Earnings $ 5,830 $ - $ 5,830 Other Revenue $ - $ - $ - Transfers In $ - $ - $ - Total Resources $ 3,413,587 $ - $ 3,413,587 Requirements Mayor& City Council $ - $ - $ - Engagement& Innovation $ - $ - $ - Investment& Infrastructure $ - $ - $ - Police $ - $ - $ - Program Expenditures Total $ - $ - $ - Debt Service $ 677,671 $ 470,000 $ 1,147,671 Loan to TCDA $ - $ - $ - Capital Improvement $ - $ - $ - Transfers Out $ 1,725,000 $ - $ 1,725,000 Contingency $ - $ - $ - Total Budget $ 2,402,671 $ 470,000 $ 2,872,671 Reserve For Future Expenditures $ 1,010,916 $ (470,000) $ 540,916 Total Requirements $ 3,413,587 $ - $ 3,413,587 City Center Capital Fund Supplemental Update (940) REVENUE CATEGORY FY2026 Adopted Q1PW01 FY2026 Revised Q1 Q1 Budget Budget Resources Beginning Fund Balance $ 144,191 $ 47,000 $ 191,191 Property Taxes $ - $ - $ - Franchise Fees $ - $ - $ - Licenses & Permits $ - $ - $ - Intergovernmental $ - $ - $ - Charges for Services $ - $ - $ - Fines & Forfeitures $ - $ - $ - Investment Earnings $ - $ - $ - Other Revenue $ - $ - $ - Transfers In $ 1,000,000 $ 50,000 $ 1,050,000 Total Resources $ 1,144,191 $ 97,000 $ 1,241,191 Requirements Mayor& City Council $ - $ - $ - Engagement& Innovation $ - $ - $ - Investment& Infrastructure $ - $ - $ - Police $ - $ - $ - Program Expenditures Total $ - $ - $ - Debt Service $ - $ - $ - Loan to TCDA $ - $ - $ - Capital Improvement $ - $ 97,000 $ 97,000 Transfers Out $ 490,000 $ - $ 490,000 Contingency $ - $ - $ - Total Budget $ 490,000 $ 97,000 $ 587,000 Reserve For Future Expenditures $ 654,191 $ - $ 654,191 Total Requirements $ 1,144,191 $ 97,000 $ 1,241,191