HomeMy WebLinkAboutCouncil Resolutions 2025-04
RESOLUTION NO. 2025-___
A RESOLUTION OF THE CENTRAL POINT DEVELOPMENT COMMISSION
AUTHORIZING THE FINANCING OF THE COMMUNITY CENTER
PRESCHOOL PLAY AREA PROJECT THROUGH THE USE OF AN
INTERGOVERNMENTAL AGREEMENT WITH THE CITY OF CENTRAL
POINT
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 play area (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 Development Commission is prepared to enter into an Intergovernmental Agreement
(IGA) with the City for a loan to fund the Project in the amount of approximately $180,000; 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 DEVELOPMENT
COMMISSION:
Section 1. The Central Point Development Commission approves this Resolution authorizing the Urban
Renewal Chair or her designee to enter into an Intergovernmental Agreement with the City of Central
Point to evidence the Loan for the Project in an amount of approximately $180,000 and to obligate the
Commission to repay the loan with tax increment revenues attached hereto at Exhibit A.
Section 2. The Development Commission Chair, or her 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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04
Resolution No. __________ Development Commission 08/28/2025
PASSED by the Development Commission and signed by me in authentication of its passage this
_____ day of August 2025.
Central Point Development Commission
_________________________________
Taneea Browning, Chair
Attest:
____________________________
City Recorder
Docusign Envelope ID: 8585D060-BDFA-409F-9009-5561D22CD8B2
2025-04
28th