Loading...
TCDA Resolution No. 17-03 CITY OF TIGARD, OREGON TOWN CENTER DEVELOPMENT AGENCY RESOLUTION NO. 17-e-3 A RESOLUTION EXPRESSING FINANCIAL SUPPORT FOR THE COMMUNITY PARTNERS FOR AFFORDABLE HOUSING PROJECT IN THE TIGARD TRIANGLE AND DIRECTING THE EXECUTIVE DIRECTOR OF THE TOWN CENTER DEVELOPMENT AGENCY TO WRITE A LETTER OF SUPPORT WHEREAS, Goal 5 of the Tigard Triangle Urban Renewal Plan is to: "Provide financial and technical assistance to new and existing businesses and housing developments that contribute to the Area's diversity and vitality and hep it transform into a mixed-use and pedestrian-oriented district;" and WHEREAS, Objective 5.3 of the Tigard Triangle Urban Renewal Plan states "Support the development of mixed-use buildings that provide a variety of housing types and storefront spaces for a range of community and commercial needs,"and objective 5.4 states `Assist in the development of affordable and workforce housing," and WHEREAS, Community Partners for Affordable Housing, a non-profit housing developer, plans to build an affordable housing project on a site at 11090 SW 68th Parkway; and WHEREAS, Community Partners for Affordable Housing has a financial gap in their project and has requested funding under the Re/Development Assistance project in the Tigard Triangle Urban Renewal Plan;and WHEREAS, a letter expressing financial support,will help the project secure other financing;and WHEREAS, the final amount of Re/Development Assistance is contingent on Community Partners for Affordable Housing securing other financing and review of their updated financial need, and later Board of Tigard Town Center Development Agency action. NOW,THEREFORE,BE IT RESOLVED,by the Tigard Town Center Development Agency that: SECTION 1: The Executive Director of the Tigard Town Center Development is authorized to sign a letter of support for a TCDA contribution in Re/Development Assistance to Community Partners for Affordable Housing's Tigard Triangle project. SECTION 2: The amount of Re/Development Assistance will be formally approved at a future TCDA Board meeting and is contingent on Community Partners for Affordable Housing securing other financing TCDA Resolution No. 17- ©3 Page 1 and review of their updated financial need. SECTION 3: This resolution is effective immediately upon passage. PASSED: This 2� day of OCitk--' ,2017. Chair—(Jjliy of Tigard Town Center Development Agency ATTEST: J/, _P C; �--X Recorder— E6 of Tigard , wn enter Development Agency TCDA Resolution No. 17-493 Page 2