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Resolution No. 21-07 CITY OF TIGARD, OREGON TIGARD CITY COUNCIL RESOLUTION NO. 21-6 7 A RESOLUTION APPROVING REFERRAL TO THE ELECTORS OF THE CITY OF TIGARD AT THE MAY 18,2021 ELECTION,THE QUESTION OF WHETHER TO AMEND THE CITY CENTER URBAN RENEWAL PLAN, Gnc�/eol WHEREAS,Section 47 of the City of Tigard's Charter requires voter approval for any urban renewal plan or amendment that initiates the use of tax increment financing;and WHEREAS, the City Council of Tigard adopted Ordinance No. 21-04,which amends the City Center Urban Renewal Plan Amendment by increasing the maximum indebtedness by $20.8 million, adding projects, and extending the duration of the City Center Urban Renewal Plan (the"Plan");and WHEREAS,the City Council of Tigard,pursuant to the City's Charter,desires to refer Ordinance No.21-04 to the electors of the City of Tigard. NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that: SECTION 1: Measure.A measure election is called in and for the City of Tigard,Washington County, Oregon, for the purpose of submitting to the electors of the City of Tigard, a measure that, if approved,would amend the City Center Urban Renewal Plan by increasing the maximum indebtedness and extending the duration of the Plan.A copy of the measure is attached and incorporated as Exhibit 1. SECTION 2: Election Conducted by Mail.The measure election shall be held on Tuesday,May 18, 2021. The precinct for the election shall be all of the territory within the corporate limits of the City of Tigard.As required by ORS 254.465 and ORS 254.470,the measure election will be conducted by mail by the Washington County Elections Department,according to the procedures adopted by the Oregon Secretary of State. SECTION 3: Notice of Ballot Title.The City Elections Officer is directed to publish notice of receipt of the ballot title in the Tigard Times or The Oregonian in compliance with ORS 250.275(5). SECTION 4: Ballot Title.Pursuant to ORS 250.285 and ORS 254.095,the Tigard City Council directs the City Elections Officer to file a Notice of City Measure Election in substantially the form of Exhibit 2,with the Washington County Elections Office,unless,pursuant to a valid ballot title challenge,the Tigard City Council certifies a different Notice of City Measure Election be filed, such filing shall occur no earlier than the eighth business day after the date on which Exhibit 2 is filed with the City Elections Officer and not later than March 18,2021. SECTION 5: Explanatory Statement. Pursuant to ORS 251.345, the Tigard City Council directs the City Manager to prepare a Measure Explanatory Statement for publication in the county voters' pamphlet; said statement shall be filed with the Washington County Elections Office at the same time the Notice of City Measure Election is filed by the City Elections Officer. SECTION 6: Delegation.The Tigard City Council authorizes the City Manager or a designee of the City Manager to act on behalf of the City of Tigard and to take such further action as is necessary RESOLUTION NO.21-0 7 Page 1 to carry out the intent and purposes herein in compliance with the applicable provisions of law. SECTION 7: Effect of"Yes" Vote. If a majority of eligible voters vote "yes" on the measure, Ordinance No. 21-04 will become operative, and the City will amend the City Center Urban Renewal Plan by increasing the maximum indebtedness, adding projects,and extending the duration of the Plan. SECTION 8: This resolution is effective immediately upon passage. PASSED: This-a3 "- day of 2021. Mayor-City of Tigard ATTEST: City Recorder-City of Tigard RESOLUTION NO.21-0 Page 2 Exhibit 1 Ballot Title for City Center Urban Renewal Plan Amendment CAPTION (10 words) City Center Urban Renewal Plan Amendment— Requires No New Taxes QUESTION (20 words) Shall the City amend the City Center Urban Renewal Plan, including increasing the amount of Maximum Indebtedness? SUMMARY (175 words) This measure approves an amendment to the City Center (Downtown) Urban Renewal Plan, which would increase the maximum indebtedness of the Plan from $22 million to $42.8 million, and duration of the plan by nine years (ending in 2035). The Plan Amendment would not impose new taxes, nor raise existing taxes. Funds generated from the Substantial Amendment will support new projects in the City Center (Downtown) area such as: • Connectivity: Designing and building new streets • Universal Plaza Phase 2 • Parking Facility • Tigard Heritage Trail Continuation • Fanno Creek Trail Improvements • Housing Development: funds to support affordable housing • Pedestrian Safety and Streetscape Improvements • Land Acquisition: buying land to encourage mixed-use development Funding comes from capturing property taxes from new development and increased property values in the urban renewal area. Funding generated within the area must be spent on projects within that same area. Urban Renewal is not a new or additional tax. A copy of the Plan and Plan Amendment and additional information is available at www.tigard- or.gov/urbanrenewal. (175 words)