HomeMy WebLinkAboutResolution No. 26-01 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO. 26-0
A RESOLUTION OF SUPPORT OF AN APPLICATION FOR A METRO 2040 PLANNING AND DEVELOPMENT
GRANT TO FUND A FEASIBILITY STUDY FOR THE CREATION OF A NEW TAX INCREMENT FINANCING (TIF)
DISTRICT IN RIVER TERRACE 2.0 AND AN ASSESSMENT OF EXISTING TIF DISTRICTS
WHEREAS, Metro has a new cycle of funding available for the 2040 Planning and Development Grant
program,which has targeted funds to support efforts to remove barriers to housing development, support
economic growth, and promote planning that makes land ready for development; and
WHEREAS, the City is currently completing the River Terrace 2.0 Community Plan project to plan for the
development of an Urban Growth Boundary expansion area,approved by Metro on February 2, 2023; and
WHEREAS,the City last conducted an update to the Downtown Urban Renewal Plan in 2021, and the Tigard
Triangle Urban Renewal Plan has not been updated since its adoption in 2017;and
WHEREAS, the River Terrace 2.0 Housing Plan identified the creation of a TIF District as a potential strategy
to support infrastructure investments and development assistance for developments aligned with mixed-
income housing and economic development goals of the River Terrace 2.0 Community Plan;and
WHEREAS, the City seeks to support the housing and economic development goals and implementation of
the River Terrace 2.0 Community Plan and to further the City's economic and community development goals
citywide;and
WHEREAS, the grant would fund direct project-related costs to prepare an economic analysis and new or
updated urban renewal plans to assess the feasibility of and inform policy decisions on potential changes to
existing TIF Districts and the establishment of a new TIF District in River Terrace 2.0.
NOW,THEREFORE, BE IT RESOLVED by the Tigard City Council that:
SECTION 1: Council supports the submittal of an application for a Metro 2040 Planning and
Development Grant to fund the TIF District Update Project to support housing and
economic development goals of the City.
SECTION 2: This resolution is effective immediately upon passage.
PASSED: This b,'h day of kili way y 2026.
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May r-City o igard
ATTEST:
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City Recorder-City of Tigard G/��
RESOLUTION NO.26-Q
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