HomeMy WebLinkAboutDevelopment Commission 2024-05 RESOLUTION NO. 2.(-2'-1 C
BEFORE THE
CENTRAL POINT DEVELOPMENT COMMISSION
A RESOLUTION APPROVING FUTURE FUNDING OF COMMUNITY CENTER
RECITALS:
WHEREAS, the City and Jackson County are partnering to construct a multi-
use pandemic relief center ("Facility") which will include approximately 36,853
square feet for the City's exclusive use as a community center,as well as opportunities
for shared use of the Facility for other events;
WHEREAS,the Urban Renewal Plan,as amended in 2022 (the"Plan")provides
that the Urban Renewal District may fund a Community Center. In particular Project
13 states:"City of Central Point Community Center.Assist with the feasibility analysis,
site and architectural design, land acquisition, and construction of a community
center within the Area. The Agency's participation in the development of a
community center shall be limited to the percentage of the total design and
development costs, including land acquisition that can be reasonably attributed to
serving the Area. 2022 update: The proposed Community Center now includes a
possible location on Jackson County controlled land outside of Central Point city
limits (Expo Property/Site). This property is being included into the urban renewal
area in the 2022 amendment";
WHEREAS, the Development Commission finds that the Community Center
will be used both as a community recreation resource and also as an evacuation
center for the community.The funds being allocated to the Community Center project
by the Development Commission are being leveraged by significant funds from
Jackson County. The City of Central Point is unable to construct a Community Center
without this partnership with Jackson County.The Development Commission sees the
Community Center as meeting dual purpose needs for the Urban Renewal Area
("Area"). The recreation need is a resource that will enhance the overall community
atmosphere including providing a community where people will want to work and
reside, supporting the Area.The evacuation center is an important community safety
need, and the Area does not have the capacity to adequately serve this need at this
time.
WHEREAS, the Development Commission finds that "reasonably attributed"
in this case means those funds necessary, as determined by the Development
Commission to allow the construction of the Community Center to proceed given the
funding allocated by Jackson County and any other potential funding sources.
1 - Resolution No. 7/11/2024 (Development Commission Meeting)
WHEREAS, the City and Jackson County have entered into a long-term lease
for the Community Center in which the City's share of the costs of design and
construction is estimated to be between$15,000,000 to$18,000,000. The County has
agreed to amortize this cost over the course of 35 years, at 4.5% interest. Interest
will not accrue until the City is given possession of the premises for use as a
Community Center, estimated to occur in the fall of 2026.
WHEREAS, the Development Commission finds these terms favorable and
reasonably attributed to the Community Center.
The Central Point Development Commission resolves as follows:
Section 1. The Development Commission hereby approves the expenditure of
District funds for the feasibility, site and architectural design, and construction of
the Community Center in the amount of$15,000,000 - $18,000,000, payable in
annual installments amortized over 35 years at 4.5% as provided in that lease
between the City and Jackson County for the Community Center.
Section 2. This Resolution shall take effect immediately from and after its passage
and approval.
Passed by the Development Commission and signed by me in the
authentication of its passage this 1I day of jUky , 2024.
Hank Williams, Chair
Central Point Development Commission
ATTEST:
y Recorder
2 - Resolution No. 2-t-/'1- `' 7 11 2024 (Development Commission Meeting)