CCDA Resolution No. 15-03 CITY OF TIGARD, OREGON
CITY CENTER DEVELOPMENT AGENCY
RESOLUTION NO. 15-03
A RESOLUTION ASSIGNING THE PURCHASE AGREEMENT RIGHT TO
PURCHASE THE SAXONY-PACIFIC PROPERTIES FROM THE CITY
CENTER DEVELOPMENT AGENCY TO THE CITY OF TIGARD
WHEREAS,City Center Development Agency Resolution 14-01 authorized the CCDA Executive
Director to negotiate voluntary acquisitions subject to CCDA Board oversight and conditions; and
WHEREAS,on April 9,2014 a Purchase Agreement for the Saxony-Pacific properties was executed
by the Seller and City Center Development Agency;and
WHEREAS,in December 2014 the parties executed a First Amendment to the Purchase Agreement
which provided the ability for the Agency to assign its rights under the agreement to the City of
Tigard; and
WHEREAS,Park Bond funds were identified as a potential source to purchase the properties;and
WHEREAS,using Park Bond funds necessitates transferring the Purchase Agreement right to
purchase the Saxony-Pacific properties from the City Center Development Agency to the City of
Tigard.
NOW, THEREFORE,BE IT RESOLVED, by the Tigard City Center Development Agency that:
SECTION 1: The right to purchase the Saxony-Pacific properties provided for in the
Purchase Agreement and Escrow Instructions executed on April 9,2014 is
assigned from the City Center Development Agency to the City of Tigard.
SECTION 2: This resolution is effective immediately upon passage.
PASSED: This �h day of _' 2015.
Chair. of Tigard
City Vity
er Development Agency
ATTEST:
kweaeef
Recorder—City of Tigard City enter Development Agency
CCDA Resolution No. 15- 03
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