TCDA Resolution No. 18-02 CITY OF TIGARD, OREGON
TOWN CENTER DEVELOPMENT AGENCY
RESOLUTION NO. 18-
A RESOLUTION AMENDING THE CITY CENTER URBAN RENEWAL PLAN BY
ADDING THE DISPOSITION OF TWO PROPERTIES ON SW MAIN STREET (TAX
LOT IDS 2S102AB02000 AND 2S102AB02100)
WHEREAS, ORS 457. 170 authorizes the Town Center Development Agency (ICDA) to acquire
and/or dispose of real property pursuant to its approved urban renewal plan;and
WHEREAS,the City Center Urban Renewal Plan authorizes the acquisition and/ or disposition of real
property within the Urban Renewal Area as determined by the Agency to be necessary to further the
Goals and Objectives of the City Center Renewal Plan and as provided in Section VIII, paragraphs A
and B;and
WHEREAS, on November 24, 2015 the Town Center Development Agency acquired two properties
on SW Main Street(Tax lot IDs 2S102AB02000 and 2S 1 02AB021 00);and
WHEREAS, the City Center Urban Renewal Plan must be amended to add the disposition of these
properties to the list of urban renewal projects;and
WHEREAS, adding projects that add a cost in 2005 dollars of more than $500,000 and are materially
different from projects previously authorized in the plan may be approved through a Council-approved
amendment;and
WHEREAS, the Tigard City Council will also consider approval of the amendment by resolution.
NOW,THEREFORE,BE IT RESOLVED,by the Tigard Town Center Development Agency that:
SECTION 1: The City Center Urban Renewal Plan is hereby amended with the language
found in Exhibit A.
SECTION 2: This resolution is effective immediately upon passage.
PASSED: This th —day of 2018.
C City of Tigard
wn Center Development Agency
ATTEST: �1
C&9A age_
Recorder—City of Tigard
Town Center Development Agency
TCDA Resolution No. 18-02
Page 1 of 1
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EXHIBIT A
Proposed new text is shown in double-underline
V. URBAN RENEWAL PROJECTS
Urban renewal projects authorized under the Plan,which may be undertaken by the Agency,are
described below and shown in Figures 2 to 7.To preserve and enhance the Area' s natural resources,
projects will be designed and implemented with consideration for ecologically sensitive areas and to
minimize the impacts of development on the environment. Property acquisition may be required for
these projects. Further,some of the projects described herein will require participation of other public
agencies. In addition, real property acquisition and disposition are Projects under the plan as described
in Section V, paragraphs H and I.
I. Land Disposition
The Agency may dispose of property acquired under the Plan by conveying any interest in property
acquired pursuant to Subsection VIII A. Property shall be conveyed at its fair reuse value. Fair reuse
value is the value,whether expressed in terms of rental or capital price, at which the urban renewal
agency in its discretion determines such land should be made available in order that it may be
developed, redeveloped, cleared, conserved or rehabilitated for the purposes specified in such plan.
Because fair reuse value reflects limitations on use of the property to those purposes specified in the
Plan,the value may be lower than the property's fair market value.
Property disposition may be required to support development of retail, office, housing and mixed use
projects within the Area.
1.Taxlots 2S102AD02800, 2S102AD02900, and 2S102AD03000; Burnham and Ash Avenue Properties
2.Taxlots 2S102AB02000 and 2S102AB02100. Main Street" Saxony Properties"