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Agenda Item - 2022-05-17 - Number 7.3 - Boones Ferry Road Property - Development Solicitation for Affordable Housing 7.3 ��c E 4... COUNCIL REPORT NC ___ o QREGoNI' Subject: Boones Ferry Road Property- Development Solicitation for Affordable Housing Meeting Date: May 17, 2022 Staff Member: Scot Siegel, FAICP, LEED AP, Director Report Date: May 3, 2022 Department: Community Development Action Required Advisory Board/Commission Recommendation ❑ Motion ❑ Approval ❑ Public Hearing ❑ Denial ❑ Ordinance ❑ None Forwarded ❑ Resolution ❑X Not Applicable ❑ Information Only Comments: ❑X Council Direction The Study Session is to review a draft ❑ Consent Agenda intergovernmental agreement (IGA) for the development solicitation process only. No action is being taken this evening. Staff Recommendation: Conduct a study session and direct staff to prepare a final draft Development Process IGA for City Council consideration on June 21, 2022. Recommended Language for Motion: Move to direct staff to prepare a final draft Development Process IGA for City Council consideration on June 21, 2022. Project/ Issue Relates To: Affordable housing and future disposition of the Boones Ferry Road construction staging property. Issue before Council: Whether to move forward with the next step in planning for development of affordable housing on the Boones Ferry Road construction staging property. Goal: Conserve the community's quality of life by planning for growth and change. Initiative: Complete work on key housing initiatives, including ... decision-making on a possible project on the Boones Ferry Road Staging area, and support for other non-profit led housing projects. ❑X Council Goals/Priorities ❑Adopted Master Plan(s) ❑Not Applicable 503.635.0215 380 A Avenue PO BOX 369 Lake Oswego, OR 97034 www.lakeosweao.city Page 2 ISSUE BEFORE COUNCIL Whether to move forward with the next step in planning for development of affordable housing on the Boones Ferry Road construction staging property. EXECUTIVE SUMMARY Pursuant to Memorandum of Understanding (MOU) between the City, Metro, and the Housing Authority of Clackamas County (HACC) for development of the subject property (City Council Resolution 21-05 (Attachment 1)), Metro has prepared the attached draft Intergovernmental Agreement (IGA) for a developer solicitation and selection process for the property (Attachment 2). This process would begin with stakeholder engagement led by Metro and assisted by City and HACC during the pre-closing period, and it would continue after Metro has acquired the Property, to culminate in the selection of a mutually agreed upon developer for an approximately fifty (50) unit income restricted affordable housing project. Coinciding with and conditioned upon entry into this IGA, the City and Metro would enter into an Intergovernmental Agreement for Purchase and Sale of the Property (the "Purchase IGA"), providing for the sale of the property to the Metro Housing Bond program. (The City Council has previously discussed valuation of the property in Executive Session.) Closing would not occur until after the three parties have agreed on the content of the developer solicitation. The City Council will need to conduct a public hearing for the property sale under ORS 221.725. BACKGROUND The subject property consists of 1.38-acres at the southwest corner of Boones Ferry Road and West Sunset Drive. The City purchased the property in 2018 for$2.25 million for use as a construction staging site for the Boones Ferry Road Improvement Project. In April 2021, the City entered into an MOU with Metro and HACC to explore potential development of affordable housing on the property after completion of the road project. With the approval of zoning changes to allow multifamily housing on the full extent of the property (Ordinance 2872/LU 21-0019), and with the road project substantially completed, it is timely for the City to plan for the future disposition and sale of the property, including reimbursing the Lake Grove Urban Renewal District for site acquisition costs, and future development of affordable housing, consistent with City Council goals. Because the staging site was acquired with Lake Oswego Redevelopment Agency (LORA) funds ($2.25 million), proceeds from its sale must be returned to LORA and used for planned projects within the Lake Grove Urban Renewal District. The only Lake Grove urban renewal projects that remain are unfunded. These are Phase 2 of Boones Ferry Road Improvements and development of one or more public parking facilities pursuant to the Lake Grove Village Center Parking Management Plan (adopted in 2016, per City Council Resolution 16-05). Due to lack of funding, and existing staff workload, the City has not started planning or design work for either project. Sale of the Property would provide funding that could be used to begin this work. 503.635.0215 380 A Avenue PO BOX 369 Lake Oswego, OR 97034 www.lakeoswego.city Page 3 DISCUSSION The City Council has at least three options for development of the property: 1. Metro Acquisition and Development Solicitation. Under this approach (the current path), the City, Metro, and HACC enter into an IGA for a developer solicitation and selection process (the "Development Solicitation IGA") for the property. The process would begin with stakeholder engagement led by Metro and assisted by the City and HACC during the pre-closing period. The parties would continue to work together after Metro has acquired the property, culminating in the selection of a mutually agreed upon developer. Closing would not occur until after the three parties have agreed on the content of the developer solicitation. Part 2 of the attached draft IGA lists the project objectives, including the prospective development of approximately 50 income restricted affordable housing units on the property ("Acknowledged Requirements and Priorities"). See Attachment 2. Purchase and Sale Process Coinciding with and conditioned upon entry into the above described IGA,the City and Metro would enter into a separate IGA for Purchase and Sale of the Property (the "Purchase IGA"), providing for the sale of the property to the Metro Housing Bond program, for fair market value. (The City Council has previously discussed valuation of the property in Executive Session.) The City Council would need to conduct a public hearing concerning sale of the property under ORS 221.725. This follows the path previously laid out in Council Resolution 21-05: "Upon completion of the zone change, [Metro will] negotiate in good faith with the intent of entering into an IGA with the City providing for the acquisition of the Property by Metro from the City, subject to Metro's ordinary and customary due diligence standards, for appraised fair market value. Upon entry into the IGA, perform due diligence and acquire Property from the City upon satisfaction of conditions precedent set forth in the IGA." (MOU, Section 4.1, "Metro Role and Responsibilities") Metro has informed the City that they have completed their diligence for acquisition of the property. If City Council wants to continue on the present path, staff will work with Metro to present a Purchase IGA along with a final version of the attached Development Process IGA for City Council's approval in a public hearing June 21, 2022. Upon approval of both IGAs, the City would work collaboratively with Metro and HACC to begin a stakeholder engagement process to help inform the solicitation for development proposals consistent with the IGA. Metro would lead stakeholder outreach in coordination with City staff and HACC, to help inform the solicitation. The parties' responsibilities are enumerated in Part 3 of the attached agreement. 503.635.0215 380 A Avenue PO BOX 369 Lake Oswego, OR 97034 www.lakeoswego.city Page 4 City Role and Responsibilities (IGA Part 3): 3.1 Enter into the Purchase IGA with Metro. 3.2 Provide input and recommendations for the developer solicitation document and representatives for the developer selection committee and collaborate with Metro and HACC in good faith to develop a mutually agreeable solicitation document and process as set forth in Section 6. 3.3 Use reasonable best efforts to identify and provide City incentives, including in-kind staff assistance and City Council-adopted financial incentives for the Project, to be identified in the solicitation document. 3.4 Participate together with Metro and HACC in good faith in the Developer Solicitation and Selection process as set forth in Section 6. 3.5 Review and approve the Project through its typical land use and development approval processes. Once Metro, the City, and HACC have agreed on the contents of the solicitation, HACC would issue a Request for Proposals, or Request for Qualifications. HACC anticipates issuing a solicitation specifically for the Boones Ferry Road property as opposed to combining the property with others as part of a general, countywide solicitation. The target for releasing a Boones Ferry Site RFP/RFQ is late-Summer/ Fall 2022. The City would contribute to the Developer Solicitation, as follows. Preparation for Developer Solicitation and Selection (IGA Section 6) 6.1 The developer solicitation will be by Request for Qualifications/Request for Proposals ("RFQ/P")process. The Parties will cooperate and negotiate in good faith to reach consensus approval of the RFQ/P criteria and selection timelines and process. The RFQ/P will be released following Metro's acquisition of the Property. 6.2 Shared Contributions: 6.2.1 Each party will review, provide input, and approve the RFQ/P prior to release. 6.2.2 Each party will contribute staff to a technical review of received submissions. 503.635.0215 380 A Avenue PO BOX 369 Lake Oswego, OR 97034 www.lakeoswego.city Page 5 6.2.3 Each party will work together to seat a developer selection committee which will recommend a developer team and concept for endorsement by the Parties. 6.3 City's Contributions: The City will provide the following in preparation for the RFQ/P: 6.3.1 Summary of City incentives and resources available for the Project, if any. 6.3.2 Existing due diligence materials on the property including, if any: • Phase I and/or Phase II Environmental studies; • Soil reports; • Surveys; • Title Insurance Policy. Option 1 Pros: • High probability of success in selling the property for fair market value. • Metro has $12 million for affordable housing property acquisitions like this. • Leverages Metro's and HACC's skills and experience in affordable housing development—City does not have similar in-house expertise. • Consistent with City's longstanding goal of producing affordable family housing. • Collaborative process with stakeholder engagement and input by the City prior to developer solicitation. Option 1 Cons: • Requires some staff resources. 2. City-lead developer solicitation. Under this approach, the City solicits affordable housing development proposals independently. The approach is similar to the process used for the North Anchor development but would prioritize affordable housing. Option 2 Pros: • Simpler process that does not directly involve other agencies. • The City retains sole discretion over developer selection. Option 2 Cons: • Foregoes Metro site acquisition funding, which could make it difficult to leverage other capital for an affordable housing development. • Requires more staff resources than Option 1 for planning/project management. • Less certainty for producing same quantity of affordable housing units. 503.635.0215 380 A Avenue PO BOX 369 Lake Oswego, OR 97034 www.lakeoswego.city Page 6 3. Dispose of the property with no stipulation for development of affordable housing. This option should only be selected if the City Council no longer intends for the property to be developed with affordable housing. Under this approach the City would solicit offers following the legal requirements for disposal of public property. Similar to Options 1 and 2, it is presumed the City would accept fair market value or better. Option 3 Pros: • Does not require staff resources for any project other than property disposal. Option 3 Cons: • Does not address the community's housing needs (Council Goal). Foregoes Metro funds for affordable housing. • The City does not own other properties for housing. • City does not control future development of the property. FISCAL IMPACT None RECOMMENDATION Direct staff to prepare a final draft Development Process IGA under Option 1, for City Council consideration on June 21, 2022. A public hearing on the Purchase IGA would be held at the same meeting. ATTACHMENTS 1. City Council Resolution 21-05 2. Draft Development Process IGA, 04/21/2022 503.635.0215 380 A Avenue PO BOX 369 Lake Oswego, OR 97034 www.lakeoswego.city ATTACHMENT 1 RESOLUTION 21-05 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE OSWEGO APPROVING A MEMORANDUM OF UNDERSTANDING BETWEEN METRO,THE CITY OF LAKE OSWEGO AND THE HOUSING AUTHORITY OF CLACKAMAS COUNTY FOR DEVELOPMENT OF MULTI-FAMILY AFFORDABLE HOUSING WHEREAS, the City of Lake Oswego seeks to promote the creation of new multi-family affordable housing options within the City; WHEREAS,the voters of the Metro region approved Ballot Measure 26-199 (2018), providing$652.8 million dollars in funding to build new affordable housing in the region (the "Metro Housing Bond"), of which the Housing Authority of Clackamas County(HACC) has been allocated $116,188,094 to build new affordable housing in Clackamas County,via an Intergovernmental Agreement between HACC and Metro; WHEREAS, HACC has created a Local Implementation Strategy(LIS) outlining approaches for achieving its share of affordable housing unit production targets required by the Metro Housing Bond, and the LIS supports the creation of affordable housing opportunities in the City; and WHEREAS,the City owns approximately 1.4 acres at the intersection of Boones Ferry Road and West Sunset Drive ("the Site") currently being used as a staging area for the Boones Ferry Road project that may be suitable for affordable housing, subject to meeting the criteria for a rezone; and WHEREAS, Metro, HACC and the City now wish to enter into a non-binding Memorandum of Understanding (MOU) to set forth the expectations governing their cooperative pursuit of intersecting processes, including amendments to the City's Comprehensive Plan and Zoning, Property acquisition and disposition, and multi-family affordable housing project developer selection. NOW,THEREFORE, BE IT RESOLVED by the City Council of the City of Lake Oswego that: Section 1. The City Manager is authorized to execute the Memorandum of Understanding with Metro and the Housing Authority of Clackamas County in substantially the form attached as Exhibit 1. Section 2. Effective Date. This Resolution shall take effect upon passage. Considered and enacted at the regular meeting of the City Council of the City of Lake Oswego on the 16th day of March, 2021. AYES: Mayor Buck, Verdick, Mboup, Manz, Nguyen, Wendland NOES: Rapf EXCUSED: NONE Resolution 21-05 Page 1 of 2 ABSTAIN: NONE J eph M. buck, Mayor ATTEST: Kari Linder, City ecorder APPROVED AS TO FORM: Evan Boone, City Attorney Pro Tern Resolution 21-05 Page 2 of 2 EXHIBIT 1 MEMORANDUM OF UNDERSTANDING Housing Authority of Clackamas County City of Lake Oswego, and Metro This Memorandum of Understanding (the "MOU") is entered into by and between Metro, a municipal corporation established pursuant to Oregon law and the Metro Charter("Metro"),the City of Lake Oswego, a municipal corporation (the "City"), and the Housing Authority of Clackamas County ("HACC"), (collectively, "the Parties").This MOU is effective as of the last date of execution set forth below(the "Effective Date"). RECITALS A. The City of Lake Oswego seeks to promote the creation of new multi-family affordable housing options within the City.The City owns and is currently using for construction staging six tax lots at the intersection of Boone's Ferry Road and West Sunset Drive legally described on Exhibit A attached hereto (the "Property").The Property is roughly 1.4 acres in area and its zoning is predominantly WLG-OC, with portions zoned WLG-R.25 and WLM-RMU.The City is exploring the possibility of amending its comprehensive plan to change the zoning of the Property to support multi- family housing(the "Zone Change").The City purchased the Property with Lake Oswego Redevelopment Agency(LORA)funds. If the Property is sold and developed for housing,the City will use the sale proceeds to repay LORA. B. At the general election on November 6, 2018,the voters of the Metro region approved Ballot Measure 26-199, providing$652.8 million dollars in funding to build new affordable housing in the region (the "Metro Housing Bond"), of which the HACC has been allocated $116,188,094 to build new affordable housing in Clackamas County,via an Intergovernmental Agreement between HACC and Metro effective December 10, 2019 (the "LIP IGA"). Pursuant to the LIP IGA, HACC has created a Local Implementation Strategy outlining approaches for achieving its share of affordable housing unit production targets required by the Metro Housing Bond. HACC supports the creation of affordable housing opportunities in the City, consistent with its Local Implementation Strategy(the "LIS")for the Metro Housing Bond program. HACC expects to commit of a portion of its Metro Housing Bond allocation to development of affordable housing at the Property. C. In support of HAAC's unit production targets, Metro's Affordable Housing Bond Regional Property Acquisition Program (the "Regional Program") acquires real property for future affordable housing in areas of Clackamas County with access to high quality schools, grocery shopping, and transit, and provides gap funding to support the private creation of affordable housing on Metro properties. Under the LIP IGA, Metro must make good faith efforts to coordinate and consult with HACC to ensure Metro's acquisition decisions support HACC in reaching its production targets. Metro's property acquisition and gap financing funds are only available to properties acquired by Metro. D. The Parties now wish to enter into this non-binding MOU to set forth the expectations governing their cooperative pursuit of intersecting processes, including amendments to the City's Comprehensive Plan and Zoning, Property acquisition and disposition, and multi-family affordable housing project developer selection. The Parties anticipate that this MOU will result in a Zone Change to the Property supporting multi-family affordable housing, a binding agreement between Metro and the City governing Metro's acquisition of the Property from the City, a jointly conducted mutually City of Lake Oswego, HACC and Metro MOU Page 1 approved developer solicitation, and an Exclusive Negotiating Agreement between Metro and the selected developer, leading to a Disposition and Development Agreement (DDA) between Metro and the selected developer governing the sale of the Property and requiring that a satisfactory affordable housing project be built upon it (the "Project"). 1. Primary Objective of MOU. The primary objective of this MOU is to provide a process for the Parties to jointly conduct developer solicitation and selection (the "Developer Solicitation and Selection"),for the purposes of identifying an affordable housing developer with which Metro will commit to negotiate the disposition of the Property.The Developer Solicitation and Selection will be preceded by the City's Zone Change and entry into an intergovernmental agreement("IGA") between Metro and City for the acquisition of the Property, followed by acquisition due diligence and the conveyance of the Property to Metro. 2. Acknowledged Requirements and Priorities: 2.1 HACC requires a Project that proportionately contributes to its unit production goals for 30%AMI units and family sized units. On a portfolio basis, approximately 40%of units supported with bond funds will need to house households earning 30%of AMI or less and half of bond supported units will be two-bedrooms or larger. 2.2 HACC will advocate for a Project of a scale consistent with efficiency in financing, construction, and operations. To this end, it is expected that the anticipated Zone Change will allow for the construction of an affordable housing building or buildings containing approximately 50 units and not exceeding three stories. 2.3 HACC will advocate for the selection of a Project developer committed to the racial equity benchmarks set forth in its Local Implementation Strategy for construction contracting and property management. 2.4 Metro may only contribute Regional Program funds to Properties purchased by Metro. 2.5 The level of Metro's Regional Program gap funding for a Project on the Property will be determined based on unit production and level of affordability, in alignment with and supporting HACC's LIS unit production targets. 2.6 The City requires a Project designed and built to a standard of construction and quality of materials consistent with its local policies and community values. 2.7 The City may identify, through its outreach processes, other community priorities which it wants to include during the process of preparing the developer solicitation. 2.8 Developer selection criteria will be determined by mutual consent of Metro, HAAC and the City. 3. City Role and Responsibilities. With the approval of its governing body,the City will: 3.1 Seek to amend the zoning of the property to permit multifamily housing under clear and objective code requirements. Conceptual timeline: 3.1.1 Neighborhood outreach (April) 3.1.2 City applies for rezoning/code change (May) 3.1.3 Planning Commission public hearing (June) 3.1.4 City Council public hearing (Sept) City of Lake Oswego, HACC and Metro MOU Page 2 3.1.5 City Council final decision on zoning (Sept) 3.2 Negotiate in good faith with the intent of entering into an IGA with Metro governing the sale of the Property to Metro for appraised fair market value upon completion of the Zone Change. 3.3 After the conveyance of the Property to Metro, provide input and recommendations for the developer solicitation document and staff for the developer selection committee and cooperate with Metro and HACC in good faith to develop a mutually agreeable solicitation document and process as set forth in Section 7. 3.4 Participate together with Metro and HACC in good faith in the Developer Solicitation and Selection process as set forth in Section 8. 3.5 The City anticipates that it may elect to contribute financial support to the Project, subject to City Council approval, and will use best efforts to identify and provide City incentives, resources, and sources of support and financial subsidy for the Project. 4. Metro Role and Responsibilities. With the approval of its governing body, Metro will: Provide input and support the City in amending its comprehensive plan and zoning to allow multifamily housing on the Property. 4.1 Upon completion of the Zone Change, negotiate in good faith with the intent of entering into an IGA with the City providing for the acquisition of the Property by Metro from the City, subject to Metro's ordinary and customary due diligence standards, for appraised fair market value. Upon entry into the IGA, perform due diligence and acquire Property from the City upon satisfaction of conditions precedent set forth in the IGA. 4.2 Draft and issue the developer solicitation. Metro will collaborate with the City and HACC to ensure the solicitation reflects the needs and priorities of the Parties and to jointly establish a mutually agreeable timeline and process for the developer solicitation. 4.3 Release a developer solicitation only with the agreement and support of the City and HACC MOU representatives. 4.4 Convene the developer selection committee, which shall provide for balanced representation between HACC, Metro, and the City. 4.5 Select a developer and Project concept only with the concurrence and support of the City and HACC MOU representatives. 4.6 Following selection of a developer, Metro anticipates entering into an Exclusive Negotiating Agreement with the selected developer,which shall provide a period of time during which the developer will design the Project and secure financing. Upon further refinement of the Project, Metro anticipates entering into a DDA with the developer. 4.7 Metro anticipates committing Metro Affordable Housing Regional Property Acquisition Program gap funds to the Project in coordination with HACC and may transfer these gap funds to HACC so that they may be loaned to the developer via a single loan instrument. City of Lake Oswego, HACC and Metro MOU Page 3 4.8 Metro anticipates that it may elect to contribute further gap funding to the Project, in the form of Metro Transit Oriented Development program funds, subject to Project's satisfaction of Metro Transit Oriented Development program requirements and governing body approval. 5. Housing Authority of Clackamas County Role and Responsibilities. 5.1 Provide input and support the City in amending its comprehensive plan and zoning to allow multifamily housing on the Property. 5.2 Prior to Metro's issuance of the developer solicitation, HACC will communicate to Metro and the City the amount of its allocation of Regional Affordable Housing Bond program funds it intends to make available to support affordable housing on the Property and will share its funding criteria and Project requirements consistent with its Local Implementation Strategy for inclusion in the development solicitation. 5.3 HACC will contribute staff to the developer selection committee and support the preparation of the developer solicitation. 5.4 HACC will be responsible for applying to Metro for a Conceptual and Final funding commitment for the selected Project as further described in the existing IGA between Metro and HACC governing the use of Regional Affordable Housing Bond funds. 5.5 HACC will be responsible for negotiating and entering into a funding agreement with selected developer, committing its Regional Bond funds, as necessary,to the Project. 5.6 Provide input and recommendations for the developer solicitation document and staff for the developer selection committee. 5.7 Cooperate with Metro and the City in good faith to develop a mutually agreeable solicitation document and process as set forth in Section 7. 5.8 Participate together with Metro and the City in good faith in the developer solicitation and selection process as set forth in Section 8. 6. Metro Purchase of City Property. Subject to appropriate and necessary governing body approvals,which approvals may be withheld at each governing body's sole discretion, Metro and the City anticipate negotiating and entering into an IGA providing for the purchase of the City Property by Metro for a price not to exceed its appraised fair market value, subject to Metro's ordinary and customary due diligence standards, with the closing of the purchase to occur after the date that the City's Zone Change becomes final and all applicable appeal periods have expired, and after a developer has been selected. 7. Preparation for Developer Solicitation and Selection. 7.1 The Parties will cooperate and negotiate in good faith to reach unanimous approval of the selection of Project concept and developer.To that end: 7.1.1 Each party will review provide input and approve the Developer Solicitation prior to release. 7.1.2 Each party will contribute staff to the developer selection committee. City of Lake Oswego, HACC and Metro MOU Page 4 7.1.3 Each party will agree to consensus decision making in establishing selection criteria and selecting the developer and development concept (if one party does not support the developer or concept selection,the selection will not move forward). 7.2 The City will provide the following in preparation for the Request for Qualifications ("RFQ")/Request for Proposals ("RFP"): 7.2.1 Statement of City's vision and aspirations for the Property 7.2.2 Aspirational standard of design and construction and quality of materials consistent with its local policies and community values. 7.2.3 Summary of incentives and resources available for the Project, if any. 7.2.4 Existing due diligence materials on the property including, if any: • Phase I Environmental studies • Soil reports • surveys • Preliminary Title reports 7.3 Metro will provide the following in preparation for the RFQ/P: 7.3.1 Metro Affordable Housing Bond Regional Acquisition Program goals and requirements for the Project. 7.4 HACC will provide the following in preparation for the RFQ/P: 7.4.1 HACC will identify the amount of its allocation of Regional Affordable Housing Bond program funds it intends to make available to support affordable housing on the Property and will share its funding criteria and Project requirements consistent with its Local Implementation Strategy for inclusion in the development solicitation. 8. Developer Solicitation and Selection. The Developer Solicitation and Selection will be conducted by the Parties in cooperation with a Review Committee, using a RFQ/P process. 8.1 RFQ/P. Metro will establish the RFQ/P criteria, allocation of scoring, process,terms and conditions, with input, review, and approval by the City and HACC, based on the Parties' expected contributions set forth herein and the parameters set forth below. Metro will be responsible for administering the RFQ/P process and will pay for the administrative costs of developer solicitation. 8.2 Review Committee. The Parties will appoint a Review Committee (the "Committee") by the mutual agreement,to provide equal representation to each party.The Committee will review responses to the RFQ/P and provide developer selection recommendations. 8.3 Base RFQ/P Criteria. In addition to meeting any applicable Metro Affordable Housing Regional Acquisition Program criteria, HACC's LIS the City Zoning and Development Code, and all applicable provisions of ORS 279A-C,the RFQ/P may, for example, include the following base criteria for evaluating proposals: City of Lake Oswego, HACC and Metro MOU Page 5 8.3.1 Experience. Proven, extensive, successful experience in designing, financing, constructing, and operating projects of similar type and scale. 8.3.2 Concept Design.The respondents shall provide the following information: 8.3.2.1 Program narrative describing the vision for the Property including anticipated approaches to identified Property opportunities and challenges including: parking, access, pedestrian right-of-ways, and neighboring uses. 8.3.2.2 Concept drawing on 11" by 17" sheet or smaller showing Property configuration (layout) and scale including: building programming, height, any outdoor spaces, publicly accessible plazas (if applicable), pedestrian pathways, and parking. 8.3.2.3 Program summary including: envisioned residential unit count and approximate building square feet, envisioned square feet of retail and/or commercial space, and envisioned number of regulated affordable units with income level and duration of income restrictions. 8.3.2.4 Oregon Housing and Community Services Preliminary Proforma 8.3.2.5 Feasibility. Proof of financial feasibility.The respondents shall provide the following information: preliminary sources and uses, 5- year operating proforma, development timeline, a one page narrative describing the basis for assumptions regarding rents, costs (including assumptions regarding exterior materials and interior levels of finish), and available sources, particularly bank loans, developer or investor equity,tax credits, or other grants and incentives. 8.4 Committee Recommendation Scoring. The Committee will score responses for each Property based on the criteria and scoring allocation described in the Request for Qualifications and Proposals, and the highest scoring developer for each Property shall receive the Committee's recommendation.-The Committee shall also provide a yes/no indication as to whether, regardless of score, it recommends going forward with any or none of the submitted responses. 9. Exclusive Negotiating Agreement. Upon the selection of a successful developer as set forth in Section 8, Metro anticipates entering into an Exclusive Negotiating Agreement with the selected developer. Elements to be addressed by Metro and the developer in the ENA include: 9.1 Exclusive right to negotiate for a DDA with Metro 9.2 Construction and permanent financing 9.3 Metro Affordable Housing Bond Regional Property Acquisition Program provided incentives 9.4 Other state and local affordable housing project financing and incentives 9.5 Description of development program 9.6 Submission of permit application permit plan set, sources and uses,financing City of Lake Oswego, HACC and Metro MOU Page 6 commitments and other due diligence 9.7 Predevelopment Schedule and performance deadlines 9.8 Community outreach process requirements 9.9 Term and expiration/termination provisions During the term of the ENA, Metro will negotiate diligently and in good faith with the selected developer to reach agreement on the terms of the DDA. Metro will continue to consult with HACC and the City during the negotiation,to promote consistency with HACC's and the City's goals and priorities for the Project. 10. Disposition and Development Agreement. At the conclusion of the ENA process, Metro anticipates entering into the DDA to formalize Metro's commitment to convey the Property to the developer and provide support for the Project, including financial and other incentives. Metro anticipates that the terms of the DDA with developer will be consistent with the Metro Affordable Housing Regional Property Acquisition program parameters and Metro's ordinary and customary predevelopment property disposition parameters. 11. Term. This MOU will be effective for a period of three(3)years from the date of final signature, or until Metro enters into a DDA with the selected developer, whichever occurs first. 12. Modification and Termination. This MOU is a non-binding expressing of the parties intent to work together towards the successful completion of the Project.As such, any Party may terminate their participation in this MOU by providing the other parties with thirty(30) days advance written notice.With notice of intention to terminate,the parties will meet promptly to discuss the reasons for the notice and to try to resolve their differences.The parties will attempt to settle differences informally and acknowledge a willingness to meet to resolve any new or ongoing differences, and to refer such differences to higher level management as appropriate. 13. Project Staff. The Parties will each designate a Project Manager to be primarily responsible for fulfilling the purposes of this MOU. Said Project Manager may be replaced by any party with written notice.The initial Project Management Committee shall be composed of the following: 13.1 Scot Siegel, Director of Planning and Building Services, City of Lake Oswego 13.2 Devin Ellin, Interim Director of Housing Development, Housing Authority of Clackamas County 11.3 Jonathan Williams, Metro TOD Program Staff The Parties may assign other staff or consultants as needed. 14. Non-Binding Expression of Intent. THIS MOU IS A STATEMENT OF THE CURRENT INTENT OF THE PARTIES, DOES NOT CREATE A BINDING AGREEMENT FOR THE PURCHASE, SALE OR DEVELOPMENT OF REAL PROPERTY, AND MAY NOT BE RELIED UPON AS A BASIS FOR A CONTRACT BY ESTOPPEL OR SERVE AS THE BASIS FOR A CLAIM BASED ON DETRIMENTAL RELIANCE OR ANY OTHER THEORY. TO THE EXTENT THAT THIS MOU ANTICIPATES THE TRANSFER OF FUNDS, OR SERVICES,THE PARTIES WILL ENTER INTO THE APPROPRIATE LEGAL INSTRUMENT TO ACCOMPLISH SUCH TRANSFER. THE PARTIES ACKNOWLEDGE THAT NO PARTY SHALL BE COMMITTED TO PURCHASE, CONVEY OR DEVELOP PROPERTY UNTIL AN IGA HAS BEEN NEGOTIATED, EXECUTED, DELIVERED,AND APPROVED BY THE GOVERNING BODIES OF THE PARTIES. City of Lake Oswego, HACC and Metro MOU Page 7 15. No Other Arrangements. The parties agree that this MOU supersedes all prior arrangements between the Parties and contains the entire understanding between the parties on its subject matter. The parties agree this MOU may only be modified in writing signed by all parties and that no verbal statements or conversations between the parties or their representatives, occurring either before or after the entry into this MOU, have any effect upon this MOU. 16. Public Communications. The parties will submit to each other for review and approval prior to distribution all public communications concerning the actions contemplated by this MOU, e.g., press releases or information provided to the media.All substantive discussions with public agencies having jurisdiction over the Property will be undertaken jointly by the parties and shall be subject to their mutual prior approval. 17. Notices. All notices required by or relating to this MOU or the Property will be in writing, and sent by email, personal delivery, by mail addressed to: For City of Lake Oswego: Scot Siegel, Director of Planning and Building Services Address: P.O. Box 369, Lake Oswego, OR 97034 Phone: 503-635-0290 Email: ssiegel@ci.oswego.or.us For HACC: Jill C. Smith, Director of Housing and Housing Services Clackamas County Health, Housing and Human Services, (H3S) Address: P.O. Box 1510 Phone: 503 742-5336 Email: JSmith6@clackamas.us For Metro: Megan Gibb, Manager Metro Development Center 600 NE Grand Ave. Portland, OR 97232 Phone: (503) 797-1753 Email: megan.gibb@oregonmetro.gov 18. Counterparts and Electronic Signature. This MOU may be executed in one or more counterparts all of which shall be considered one and the same instrument.An MOU executed and transferred by electronic signature shall be deemed duly executed. 19. No ORS 190 Entity or Business Partnership. Nothing in this MOU shall be construed to create an intergovernmental entity under ORS 190 nor any of the attributes or incidents of a partnership or joint venture under common law or ORS Chapters 67 and 70. No officer or employee of any party hereto has authority to act as an agent for any other party, nor make representations on its behalf 20. DISCLAIMER OF CONSEQUENTIAL DAMAGES. IN NO EVENT SHALL ANY PARTY BE LIABLE TO THE OTHER PARTY HERETO FOR ANY LOST OR PROSPECTIVE PROFITS OR ANY OTHER SPECIAL,PUNITIVE, EXEMPLARY, CONSEQUENTIAL, INCIDENTAL OR INDIRECT LOSSES OR DAMAGES (IN TORT, CONTRACT OR OTHERWISE) UNDER OR IN RESPECT OF THIS MOU OR FOR ANY ACT OR FAILURE TO ACT RELATED HERETO HOWSOEVER CAUSED, WHETHER OR NOT ARISING FROM SUCH PARTY'S SOLE, JOINT OR CONCURRENT NEGLIGENCE. City of Lake Oswego, HACC and Metro MOU Page 8 IN WITNESS WHEREOF,the Parties hereto have set their hands on the day and year set forth below. METRO CITY OF LAKE OSWEGO Elissa Gertler Name Metro Planning Director Title Date: Date: HOUSING AUTHORITY OF CLACKAMAS COUNTY Name Title Date: Exhibits: Exhibit A- Legal Description of Metro Property Exhibit B— Plans and Elevations City of Lake Oswego, HACC and Metro MOU Page 9 EXHIBIT A Property Legal Description ATTACHMENT 2 INTERGOVERNMENTAL AGREEMENT FOR DEVELOPER SOLICITATION AND SELECTION THIS INTERGOVERNMENTAL AGREEMENT FOR DEVELOPER SOLICITATION AND SELECTION("Agreement"or"IGA")is entered into by and between Metro, a municipal corporation established pursuant to ORS Chapter 268 and the Metro Charter("Metro"),the Housing Authority of Clackamas County("HACC"),and the City of Lake Oswego(the"City"), an Oregon municipal corporation(each a"Party"; collectively,"the Parties"). This Agreement is effective as of , 2022(the"Effective Date"). RECITALS A. The City of Lake Oswego seeks to promote the creation of new multi-family affordable housing options within the City. The City owns and is currently using for construction staging six undeveloped tax lots at the intersection of Boone's Ferry Road and West Sunset Drive legally described on Exhibit A attached hereto(the"Property"). The City has identified the roughly 1.4 acre Property as a suitable location for multi-family affordable housing. B. At the general election on November 6,2018,the voters of the Metro region approved Ballot Measure 26-199,providing$652.8 million dollars in funding to build new affordable housing in the region(the"Metro Housing Bond"), of which HACC has been allocated $116,188,094 to build new affordable housing in Clackamas County,via an Intergovernmental Agreement between HACC and Metro effective December 10,2019 (the"LIP IGA"). Pursuant to the LIP IGA,HACC has created a Local Implementation Strategy("LIS") outlining approaches for achieving its share of affordable housing unit production targets required by the Metro Housing Bond. HACC supports the creation of affordable housing opportunities in the City, consistent with its LIS for the Metro Housing Bond program. C. Metro's Affordable Housing Bond Regional Property Acquisition Program(the "Regional Program") acquires land for future affordable housing in areas of Clackamas County with access to high quality schools, grocery shopping, and transit, and provides gap funding to support the private creation of affordable housing on Metro properties. Metro wishes to acquire the Property from the City for said purposes.Metro's Housing Bond property acquisition and gap financing funds are only available to properties acquired and owned by Metro. D. HACC expects to commit a portion of its Metro Housing Bond allocation to development of affordable housing on the Property as well. Under the LIP IGA with HACC, Metro must make good faith efforts to coordinate and consult with HACC to ensure Metro's acquisition of the Property supports HACC in reaching its Metro Affordable Housing Bond unit production targets. E. On June 3,2021 Metro,the City and HACC entered into a non-binding MOU setting forth the expectations governing their cooperative pursuit of the intersecting processes required to generate affordable housing for approximately fifty(50) families on the Property, including amendments to the City's Comprehensive Plan and Zoning,Property acquisition and disposition, and multi-family affordable housing project developer selection. The Lake Oswego City Council completed the first step of this process on October 5, 2021,by adoption of Ordinance 2872, approving an amendment to its Comprehensive Plan,changing the zoning designation of the Property to WLG-OC and making multi-family affordable housing an allowed use subject to conditions. All applicable local and state land use law appeal periods have expired, no appeals have been filed, and the decision of the Lake Oswego City Council applying the new Page 1 IGA—DEVELOPER SOLICITATION AND SELECTION zoning to the Property is final. The next steps in the process are acquisition and developer solicitation and selection. F. Coinciding with and conditioned upon entry into this IGA,the City and Metro will enter into an Intergovernmental Agreement for Purchase and Sale of the Property(the "Purchase IGA"),providing for the sale of the Property to the Metro Housing Bond program, for a purchase price equivalent to the appraised fair market value, subject to commercially reasonable conditions precedent to closing. G. As set forth in more detail in this IGA,the Parties wish to agree to cooperate with each other in a developer solicitation and selection process for the Property,beginning during the pre-closing period and continuing after Metro has acquired the Property,to culminate in the selection of a mutually agreed upon developer for an approximately fifty(50)unit income restricted affordable housing project to be built upon the Property(the"Project"). H. On, , 2022,the Lake Oswego City Council adopted authorizing the city manager to enter into this Agreement with Metro and HACC. AGREEMENT NOW,THEREFORE,in reliance on the above recitals and in consideration of the mutual covenants and agreements set forth herein,and for other valuable consideration,the receipt and adequacy of which are hereby acknowledged,the Parties covenant and agree as follows: 1. Purpose. The purpose of this Agreement is to determine a process,timelines and criteria for the Parties to conduct solicitation and selection of an affordable housing developer with which Metro will commit to negotiate the disposition and development of the Property. The developer selection process,timelines and criteria will be established by mutual consent of Metro,HACC and the City. The developer solicitation and selection will be followed by Metro's entry into Exclusive Negotiating Agreements and Disposition and Development Agreements with the selected developer, leading to construction of a Project consistent with the selection criteria. 2. Acknowledged Requirements and Priorities: 2.1 The Project must proportionately contribute to HACC's Metro Affordable Housing Bond unit production goals for 30%Area Median Income("AMI")units and family sized units. Approximately 40% of units supported with bond funds must house households earning 30%of AMI or less and half of Metro Affordable Housing Bond supported units must be two-bedroom units or larger. All Affordable Housing Bond supported housing units must be restricted at 80% of AMI or less and no more than 10%may be between 60%and 80%of AMI. 2.2 The Project must be developed at a scale consistent with efficiency in affordable housing financing, construction,and operations,yielding at least approximately fifty(50) regulated affordable units. 2.3 The selected developer must commit to the racial equity benchmarks set forth in HACC's Local Implementation Strategy for Project construction subcontracting and property management. 2.4 The amount of Metro's Regional Program gap funding for the Project on the Property will be determined based on unit production and level of affordability, in alignment with and supporting HACC's LIS unit production targets. Page 2 IGA—DEVELOPER SOLICITATION AND SELECTION 2.5 The Project proposed must comport with standards of construction and quality of materials consistent with the City's adopted policies and community development code as provided by the City for inclusion into the solicitation. 2.6 The City may identify,through its outreach processes,other reasonably consistent community priorities which it may include during the process of preparing the developer solicitation. 2.7 The Property will be acquired with Metro Regional Program bond funds,which obligate Metro to develop the site for affordable housing. 3. City Role and Responsibilities. With the approval of its governing body,the City will: 3.1 Enter into the Purchase IGA with Metro. 3.2 Provide input and recommendations for the developer solicitation document and representatives for the developer selection committee and collaborate with Metro and HACC in good faith to develop a mutually agreeable solicitation document and process as set forth in Section 6. 3.3 Use reasonable best efforts to identify and provide City incentives, including in-kind staff assistance and City Council-adopted financial incentives for the Project,to be identified in the solicitation document. 3.4 Participate together with Metro and HACC in good faith in the Developer Solicitation and Selection process as set forth in Section 6. 3.5 Review and approve the Project through its typical land use and development approval processes. 4. Metro Role and Responsibilities. With the approval of its governing body,Metro will: 4.1 Enter into the Purchase IGA with the City providing for the acquisition of the Property by Metro from the City, subject to Metro's ordinary and customary due diligence preconditions. Upon entry into the Purchase IGA,perform due diligence and acquire the Property from the City upon satisfaction of the conditions precedent set forth in the Purchase IGA. 4.2 Lead a stakeholder panel to identify stakeholder priorities for the development of the site. This panel will be seated in collaboration with the City and HACC and will prepare a Statement of Values which will be incorporated into the developer solicitation. 4.3 Establish the developer solicitation document and process.Metro will collaborate in good faith with the City and HACC to ensure the solicitation document reflects the needs and priorities of Metro,the City and HACC and to establish a mutually agreeable timeline and process for the developer solicitation as set forth in Section 5. 4.4 Release a developer solicitation and convene the developer selection committee,which shall provide for balanced representation between HACC,Metro, and the City and select a developer and project concept with the concurrence and support of the City and HACC MOU representatives as set forth in Section 6. 4.5 Following selection of a developer,negotiate in good faith to enter into an Exclusive Negotiating Agreement with the selected developer, as set forth in Section 7. 4.6 Negotiate in good faith with the selected developer the terms of a Disposition and Development Agreement("DDA")between Metro and the developer. Enter into a DDA if mutually satisfactory between Metro and developer, as set forth in Section 8. Page 3 IGA—DEVELOPER SOLICITATION AND SELECTION 5. HACC Role and Responsibilities. With the approval of its governing body,HACC will: 5.1 Provide input and recommendations for the developer solicitation document and staff for the developer selection committee and collaborate with Metro and the City in good faith to develop a mutually agreeable solicitation document and process as set forth in Section 6. 5.2 Participate together with Metro and the City in good faith in the Developer Solicitation and Selection process as set forth in Section 6. 5.3 HACC will be responsible for applying to Metro's Affordable Housing Bond Program for a Conceptual and Final funding commitment for the selected Project as further described in the existing LIP IGA between Metro and HACC governing the use of Regional Affordable Housing Bond funds. 5.4 HACC will be responsible for negotiating and entering into a funding agreement with selected developer and committing its Regional Bond funds, as promised below,to the Project. 6. Preparation for Developer Solicitation and Selection. 6.1 The developer solicitation will be by Request for Qualifications/Request for Proposals ("RFQ/P")process. The Parties will cooperate and negotiate in good faith to reach consensus approval of the RFQ/P criteria and selection timelines and process. The RFQ/P will be released following Metro's acquisition of the Property. 6.2 Shared Contributions: 6.2.1 Each party will review,provide input, and approve the RFQ/P prior to release. 6.2.2 Each party will contribute staff to a technical review of received submissions. 6.2.3 Each party will work together to seat a developer selection committee which will recommend a developer team and concept for endorsement by the Parties. 6.3 Citv's Contributions: The City will provide the following in preparation for the RFQ/P: 6.3.1 Summary of City incentives and resources available for the Project,if any. 6.3.2 Existing due diligence materials on the property including, if any: • Phase I and/or Phase II Environmental studies; • Soil reports; • Surveys; • Title Insurance Policy. 6.4 Metro's Contributions: Metro will provide the following in preparation for the RFQ/P: 6.4.1 Metro Affordable Housing Bond Regional Acquisition Program goals and requirements for the Project. 6.4.2 Due diligence materials on the property, if any, obtained by Metro for its acquisition: • Phase I and/or Phase II Environmental studies; • Surveys; • Geotechnical investigation reports; • Architectural and civil engineering analysis. Page 4 IGA—DEVELOPER SOLICITATION AND SELECTION 6.4.3 An all-in contribution of seven million one hundred fifty thousand and 00/100 dollars($7,150,000.00). This contribution will be inclusive of Metro's acquisition and due diligence expenses for the site. 6.5 HACC's Contributions: In preparation for the RFQ/P,HACC will establish the amount of its allocation of Regional Affordable Housing Bond program funds it will make available to support affordable housing on the Property and will share its funding criteria and Project requirements consistent with its Local Implementation Strategy for inclusion in the development solicitation. 6.6 RFO/P Selection Criteria. Metro will establish the RFQ/P selection criteria,allocation of scoring,process,terms and conditions,with input,review, and approval by the City and HACC,based on the Parties'expected contributions set forth herein. Proposals must satisfy the requirements and priorities set forth in Section 2 above, all applicable Metro Affordable Housing Regional Acquisition Program criteria,HACC's LIS,the City Zoning and Development Code, and all applicable provisions of ORS 279A-C. 7. Developer Solicitation and Selection. The Developer solicitation and selection will be conducted by the Parties in cooperation with a Review Committee. 7.1 Costs. Metro will release the RFQ/P with the consensus support of Metro,the City and HACC. Metro will be responsible for administering the RFQ/P process and will pay for Metro's administrative costs of developer solicitation. 7.2 Review Committee. The Parties, in cooperation with HACC,will appoint a Review Committee (the "Committee")by the mutual agreement,to provide equal representation to each party. The Committee will review responses to the RFQ/P and provide developer selection recommendations. 7.3 Committee Recommendation Scoring. The Committee will score responses for each Property based on the criteria and scoring allocation described in the Request for Qualifications and Proposals, and the highest scoring developer for each Property shall receive the Committee's recommendation. The Committee shall also provide a yes/no indication as to whether,regardless of score,it recommends going forward with any or none of the submitted responses. 7.4 Approval by Parties. The Review Committee's recommendation will be advisory to HACC. In the event that the HACC does not agree with the Review Committee's recommendation,the Parties will work together to either select a mutually agreeable Team from among the submitted proposals or to re-open the solicitation for an additional ninety(90)days. In the event that after an extended solicitation,no mutually agreeable team is selected,Metro will continue to independently pursue an affordable housing development for the site. 8. Exclusive Negotiating Agreement. Upon the selection of a developer,Metro will enter into an Exclusive Negotiating Agreement with the selected developer which will provide developer with site control for a period of time during which the developer will begin to design the Project and secure financing. 9. Disposition and Development Agreement. Metro will negotiate the terms of a disposition and development agreement("DDA")with the selected developer,providing for the conveyance of the property to the selected developer at a reduced price, in return for, among other things,the construction of an approximately fifty(50)unit multi-family income restricted affordable housing Project on the Property. Metro will have sole authority to negotiate the terms of the DDA with the selected developer. Page 5 IGA—DEVELOPER SOLICITATION AND SELECTION 10. Term. This Agreement will expire on the earlier of: four(4)years from the Effective Date; the date Metro executes a DDA with a developer selected as set forth in this IGA; or the date the Parties determine they are unable to agree upon the selection of a developer after an extended solicitation. 11. Termination. This Agreement may be terminated for cause or mutual convenience, subject to the requirements set forth in this section.Notices of termination must be issued in one of the two forms set forth below: 11.1 Termination for Cause. The Parties will negotiate in good faith to resolve any dispute arising out of this Agreement. However,any Party to this Agreement may declare a default before the date of expiration, if that Party determines in its sole discretion that a material breach of the terms of this Agreement has occurred. If any Party so determines,the aggrieved Party shall promptly document the breach and state a demand that the breach be cured. The breaching Party must thereafter cure said breach within thirty(30)days of receipt of said notice. If the breaching Party fails to so cure, or under circumstances where the breach cannot reasonably be cured within a 30-day period, fails to begin curing such violation within the 30-day period,or after thirty(30) days has expired fails to continue diligently to cure the breach until finally cured,the aggrieved Party may, at its sole discretion,immediately terminate this Agreement. The exercise of this termination right will not extinguish or prejudice the terminating Party's right to seek damages and enforcement of the terms of this Agreement in a court of competent jurisdiction with respect to any breach that has not been cured. 11.2 Termination for Convenience. The Parties may terminate this Agreement for convenience based on mutual written agreement. 12. Property Management. Metro will manage the Property as set forth in this section after the closing of the Metro conveyance. 13. Covenant to Provide Further Assurances. The Parties acknowledge that they are entering into a long-term arrangement in which their cooperation is required. At any time and from time to time during the Term of this Agreement,the Parties will cooperate with each other and promptly upon request and without further consideration, execute or deliver any other documents, instruments,files,books,materials and records,and do all further acts and things as may be reasonably necessary or desirable to carry out the intent of the Parties under this Agreement.No Party may unreasonably withhold conditions or delay its compliance with any reasonable request made pursuant to this Section. 14. Notices. All notices required or permitted to be given must be in writing to the address set forth below and will be deemed given upon(a)personal service, (b)deposit in the United States Mail,postage prepaid, (c) deposit with a nationally recognized overnight courier service, or(d) by email delivery. All such notices will be deemed received(e)upon personal service, (f)three (3)days after deposit in the United States Mail,postage prepaid, (g)one(1) day after deposit with a nationally recognized overnight courier service, or(h) if by email delivery, (i) on the date of delivery,provided that the email is sent on a business day during the hours stated above, or(j)on the next business day if the email is sent outside of the hours state above). Page 6 IGA—DEVELOPER SOLICITATION AND SELECTION To Metro: Metro Elissa Gertler,Planning Director 600 N.E. Grand Avenue Portland, OR 97232-2736 Email: Elissa.Gertler@oregonmetro.gov Phone: 503-797-1752 To City: City of Lake Oswego Scot Siegel, Community Development Director P.O. Box 369 Lake Oswego, OR 97034 Email: ssiegel@ci.oswego.or.us Phone: 503-699-7474 To HACC: Devin Ellin Director of Housing Development Housing Authority of Clackamas County P.O. Box 1510 Oregon City, OR 97045 Email: dellin@clackamas.us Phone: 971-227-0472 The foregoing addresses may be changed by written notice,given in the same manner.Notice given in any manner other than the manners set forth above will be effective when received by the party for whom it is intended. Telephone number and email addresses are for information only. 15. Insurance; Indemnification;Limitation on Liability. 15.1 The Parties will self-insure or maintain general liability insurance and workers compensation insurance coverage.Each party is responsible for the wages and benefits of its respective employees performing any work or services related to this Agreement. 15.2 Subject to the limitations and conditions of the Article XI, Sections 7 and 11 of the Oregon Constitution and the Oregon Tort Claims Act,ORS 30.260-300, each party will indemnify, defend,and hold harmless the other Party,its elected officers and employees,from and against any and all liabilities,claims,demands,damages,actions,costs,penalties,losses and expenses suffered or incurred as a result of third-party claims arising out of a Party's performance of this Agreement or resulting in whole or in part from any act,omission,negligence,fault or violation of law by a Party,its officers,employees,agents,and contractors.This indemnity provision does not apply to third-party claims resulting from the sole negligence or willful misconduct of a Party. 15.3 In no event will the Parties be liable to each other for,and each Party releases the other from,any liability for special,punitive,exemplary,consequential,incidental or indirect losses or damages(in tort,contract or otherwise)under or in respect of this Agreement,however caused, whether or not arising from a Party's sole,joint or concurrent negligence. 16. Assignment. No Party may assign any of its rights or responsibilities under this Agreement without prior written consent from the other Party, except the Parties may subcontract for performance of any of their responsibilities under this Agreement. Page 7 IGA—DEVELOPER SOLICITATION AND SELECTION 17. Severability. If any covenant or provision in this Agreement shall be adjudged void, such adjudication shall not affect the validity, obligation, or performance of any other covenant or provision which in itself is valid, if such remainder would then continue to conform to the terms and requirements of applicable law and the intent of this Agreement. 18. No Partnership. Nothing contained in this Agreement or any acts of the Parties hereby shall be deemed or construed by the Parties, or by any third person,to create the relationship of principal and agent,or of partnership, or of joint venture,or any association between the Parties. 19. Non-Waiver of Government Rights. Subject to the terms and conditions of this Agreement, by making this Agreement the City is specifically not obligating itself with respect to any discretionary action relating to development approvals or the operation of the improvements to be constructed on the Property, except as expressly set forth herein. 20. Conflict of Interests. No officer, director or employee of the Parties shall have any personal interest, direct or indirect, in the Agreement,nor shall any such elected official, director,or employee participate in any decision relating to the Agreement which affects his or her personal interest or the interests of any corporation,partnership, or association in which he or she is, directly or indirectly, interested. 21. No Third Party Beneficiaries. The City,Metro and HACC are the only parties to this Agreement and are the only parties entitled to enforce its terms and the sole beneficiaries hereof. Nothing in this Agreement gives, is intended to give, or will be construed to give or provide any benefit or right,whether directly, indirectly, or otherwise,to third persons any greater than the right and benefits enjoyed by the general public. 22. Oregon Law,Dispute Resolution,and Forum. This Agreement is to be construed according to the laws of the State of Oregon.Any litigation between the Parties arising under this Agreement will occur,if in the state courts,in the Multnomah County Circuit Court,and if in the Federal courts,in the United States District Court for the District of Oregon located in Portland,Oregon. 23. Compliance with Law. No recipient or proposed recipient of any services or other assistance under the provisions of this Agreement or any program related to this Agreement may be excluded from participation in,be denied the benefits of,or be subjected to discrimination under any program or activity funded in whole or in part with the funds made available through this Agreement on the grounds of race,color,or national origin,42 U.S.C. §2000d(Title VI),or on the grounds of religion, sex,ancestry,age, or disability as that term is defined in the Americans with Disabilities Act.For purposes of this section,"program or activity"is defined as any function conducted by an identifiable administrative unit of government receiving funds pursuant to this Agreement. Page 8 IGA—DEVELOPER SOLICITATION AND SELECTION 24. Entire Agreement. Except as otherwise set forth herein in writing,this Agreement constitutes the entire agreement between the Parties and supersedes any prior or contemporaneous oral or written communications, agreements or representations relating to this Property.No course of dealing between the Parties and no usage of trade shall be relevant to supplement any term used in this Agreement.No waiver,consent,modification or change of terms of this Agreement shall bind any Party unless in writing and signed by all Parties. The failure of a Party to enforce any provision of this Agreement shall not constitute a waiver by any Party of that or any other provision. IN WITNESS WHEREOF,the Parties hereto have set their hands on the day and year set forth below. Housing Authority of Clackamas County By: Tootie Smith Title: Chair Date: City of Lake Oswego By: Martha Bennett Title: City Manager Date: Metro By: Marissa Madrigal Title: Chief Operating Officer Date: Exhibits: Exhibit A—Legal Description of the Property Page 9 IGA—DEVELOPER SOLICITATION AND SELECTION Exhibit A Property Legal Description PARCEL I: Part of Lot 180,BRYANT ACRES PLAT 3, in the City of Lake Oswego, County of Clackamas, and State of Oregon, described as follows: Beginning at the point of intersection of the East line of said Lot 180 with the South boundary of West Sunset Drive;thence South 0° 10'East 135 feet,more or less,along the East line of said lot to the Northeast corner of that certain tract of land reserved by the grantors in Deed to William J. Cooley and Milton M.Wolsborn,recorded June 20, 1950, in Deed Book 432,Page 500;thence South 89° 50'West 66 feet;thence North 0° 10'West 135 feet,more or less,to the South boundary of West Sunset Drive;thence East along said South boundary of West Sunset Drive, 66 feet to the place of beginning. PARCEL II: Part of Lot 181,BRYANT ACRES PLAT 3, in the City of Lake Oswego, County of Clackamas and State of Oregon,more particularly described as follows: Beginning at the Northwest corner of said Lot;thence South 89° 35'East,288.9 feet to the most Easterly corner of said Lot;thence South 45°08-1/2'West 252.55 feet; thence North 50° 55'West 160.42 feet to a point in the West line of Lot 181;thence North 0° 10'West 64.42 feet to the point of beginning. EXCEPTING THEREFROM that portion described in Warranty Deed to The City of Lake Oswego, Oregon,a municipal corporation,recorded January 21, 1993 as Fee No. 93004379. PARCEL III: Part of Lot 180,BRYANT ACRES PLAT 3, in the City of Lake Oswego, County of Clackamas and State of Oregon, described as follows: Beginning at the intersection of the West line of Lot 180 and the South line of W. Sunset Drive; thence South 89° 35'East along said South line 66 feet to the Northwest corner of that tract conveyed to Stephen S. Hazzard, et ux,by Deed recorded April 8, 1974, as Recorder's Fee No. 74 8577, Clackamas County Records;thence South 0° 10'East along the West line of said Hazzard Tract 137.59 feet to the Southwest corner thereof, said point also being the Northeast corner of that tract conveyed to Robert E. Reynolds, et ux,by Deed recorded July 8, 1974, as Recorder's Fee No. 74 18864, Clackamas County Records;thence South 89° 50'West along the North line of said Reynolds Tract 66 feet to the Northwest corner thereof,being a point on the West line of Lot 180; thence North 0° 10'West along said West line, 138.18 feet to the point of beginning. PARCEL IV: Part of Lot 180,BRYANT ACRES PLAT 3, in the City of Lake Oswego, County of Clackamas and State of Oregon, described as follows: Beginning at a point on the West line of said Lot 180 at the intersection with the Northwest boundary line of Boones Ferry Road;thence North and following the West line of said Lot 180, a distance of 209.15 feet to an iron pipe;thence North 89° 50'East 66.00 feet to an iron pipe; thence South 0° 10'East 150.81 feet to an iron pipe set in the Northwesterly line of Boones Ferry Page 1 —Property Legal Description Road;thence South 48°24'30" West and following the Northwesterly line of Boones Ferry Road, 88.00 feet to the point of beginning. EXCEPTING THEREFROM that portion conveyed to the City of Lake Oswego,by deed recorded January 14, 1993,as Recorder's Fee No. 93-02628. PARCEL V: Part of Lot 180,BRYANT ACRES PLAT 3, in the City of Lake Oswego, County of Clackamas and State of Oregon,more particularly described as follows: Beginning at an iron pipe set in the point of intersection of the East line of Lot 180 with the Northwesterly boundary line of Lower Boones Ferry Road;thence North 0° 10'West 92.48 feet along the Easterly line of Lot 180 to an iron pipe; thence South 89° 50 West 66.00 feet to an iron pipe;thence South 0° 10'East, 150.81 feet to an iron pipe set in the said Northwesterly line of Lower Boones Ferry Road;thence North 48°24'30" East 88.00 feet to the point of beginning. EXCEPTING THEREFROM that portion conveyed to the City of Lake Oswego by Deed recorded November 24, 1992,as Document No. 92-75195. PARCEL VI: A tract of land situated in the most Southerly part of Lot 181,BRYANT ACRES PLAT 3,in the City of Lake Oswego, County of Clackamas and State of Oregon,more particularly described as follows,to wit: Beginning at an iron pipe set in the most Southerly corner of said Lot 181, said corner being in the center of Lower Boones Ferry Road in said Plat 3, from said beginning point;thence North 0° 10'West,219.98 feet along the Westerly boundary line of said lot to an iron pipe;thence South 50° 55'East, 160.42 feet to an iron pipe set in the Southeasterly boundary line of said lot,last said boundary line being the said center line of Lower Boones Ferry Road;thence South 45° 08'30" West 117.65 feet along the said Southeasterly boundary line to an iron pipe set in the angle of said line;thence South 48°24'30" West, 53.30 feet to the point of beginning. EXCEPT that portion of property deeded by the State of Oregon to Steven R. Hambleton and Bonnie L. Hambleton,Recording Certificate No. 93-02191, and subsequently recorded in favor of the City of Lake Oswego by Deed recorded January 12, 1993, as Document No. 93-02192. Page 2—Property Legal Description