Resolution-7432.pdf
ProposalAI Summary
Prosper Portland Resolution No. 7432, adopted September 29, 2021, authorizes the Executive Director to execute an intergovernmental agreement with the City of Portland's Office of Management and Finance to implement economic development projects using $7,395,931 in American Rescue Plan Act Local Fiscal Recovery Funds. The agreement establishes the scope, equity requirements, payment procedures, and reporting requirements for deploying these funds. The Executive Director is granted authority to approve amendments that do not materially increase Prosper Portland's obligations or risks and to distribute funds to partners through subrecipient agreements or contracts.
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Resolution No. 7462 authorizes Prosper Portland's Executive Director to enter into an intergovernmental agreement with the Portland Housing Bureau for fiscal year 2022-23, establishing the framework for PHB's implementation of tax increment finance-funded affordable housing projects and Prosper Portland's delivery of supporting services. The agreement covers housing rehabilitation, finance, and development activities funded through TIF resources on an expense reimbursement basis, as well as coordination on joint projects between the two agencies. The resolution was adopted by the Prosper Portland Commission on July 14, 2022, and grants the Executive Director authority to approve future amendments that do not materially increase Prosper Portland's obligations or risks.
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