HomeMy WebLinkAboutCouncil Resolutions 1846RESOLUTION NO. __1846____
A RESOLUTION OF THE CENTRAL POINT CITY COUNCIL AUTHORIZING
THE FINANCING OF THE COMMUNITY CENTER PRESCHOOL
PLAYGROUND PROJECT THROUGH THE USE OF AN
INTERGOVERNMENTAL AGREEMENT WITH THE CITY OF CENTRAL
POINT DEVELOPMENT COMMISSION
WHEREAS, the Central Point Development Commission (“Development Commission”) is authorized by
ORS 457.190(1) and Section 1.6.8(E) of the Downtown & East Pine Street Corridor Revitalization Plan
(“Plan”), an urban renewal plan of the City of Central Point (“City”) to accept loans for the purposes of
undertaking and carrying out urban renewal projects; and
WHEREAS, the Plan, pursuant to ORS 457.190(3) includes a Maximum Indebtedness amount of
$43,177,530 having a current remaining balance in excess of $38,220,577; and
WHEREAS, the Community Center was included in a substantial plan amendment for the Plan approved
by the City Council and the Development Commission in 2022, which such Community Center has been
designed to include construction of a preschool playground (the “Project”); and
WHEREAS, ORS 190.010 provides legal authority for the City and the Development Commission to
enter into a binding Intergovernmental Agreement; and
WHEREAS, the City is prepared to enter into an Intergovernmental Agreement (IGA) with the
Development Commission for a loan to fund the Project in the amount of approximately $180,000.00; and
WHEREAS, the Development Commission will use its tax increment revenues to pay all amounts due
the City per the IGA; and
WHEREAS, the Development Commission is projected to have sufficient tax increment revenues
necessary to meet its financial obligation as stated in the IGA.
NOW, THEREFORE, BE IT RESOLVED BY THE CENTRAL POINT CITY COUNCIL:
Section 1. The Central Point City Council approves this Resolution authorizing the Mayor or her designee
to enter into an Intergovernmental Agreement with the Central Point Development Commission to
evidence the Loan for the Project in an amount of approximately $180,000.00 and to obligate the
Development Commission to repay the loan with tax increment revenues attached hereto at Exhibit A.
Section 2. The City Manager, or his designee, is authorized to negotiate any and all documents to
complete the Agreement and transactions related to the Loan and repayment.
Section 3. This Resolution shall be effective immediately upon its adoption.
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Res. No. _1846_ City Council Meeting (08/28/2025)
PASSED by the Central Point City Council and signed by me in authentication of its passage this
_28th__ day of August 2025.
Central Point City Council
_________________________________
Taneea Browning, Mayor
Attest:
____________________________
City Recorder
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