Beaverton Urban Redevelopment Agency Board Meeting - February 24, 2026

This meeting of the Beaverton Urban Redevelopment Agency (Bureau) Board included an executive session, presentations, and votes on financial reports, garage leases, and a tenant moving assistance pilot program. The board also received the annual URAC report and an executive director's update.

Executive Session

• The board entered executive session per ORS 192.660(2)(e) to discuss real property negotiations. Upon return, a motion was made and seconded to authorize the executive director to sign a purchase and sale agreement with the Shirley A. Moore Trust for property at 12905 SW Beaver Dam Road. The motion passed 10-0-1 (one absent).

Discussion Items

• URAC 2025 Annual Report: Devin Baker, outgoing chair of the Urban Renewal Advisory Committee, presented a detailed overview of the committee's 2025 activities, including field trips, transportation planning, stormwater strategy, and discussions on housing, parking, and climate action. Board members thanked him for the report.
• Annual Financial Statement & Audit Report: Assistant Finance Director Susan Cole presented the fiscal year 2025 financial statement and the audited report (unqualified opinion from Baker Tilly). The maximum indebtedness remains $150 million, with $75 million incurred (53%). The board accepted the report with a unanimous vote (10-0-1).
• Beaverton Central Garage Leases: Economic Development Manager Mike presented two proposed leases:
  • Kofi LLC (Suite 120): A 1,008 sq ft cold kitchen for Indian-style ice cream and frozen treats. Six-year lease with six-year renewal, $75,000 tenant improvement allowance. Board members expressed excitement about the tenant's proven concept and discussed foot traffic concerns. Resolution 2026-071 passed 10-0-1.
  • Lumier Bakery LLC (Suite 110): A Vietnamese-French fusion bakery in 1,500 sq ft near the Reser. Ten-year lease with ten-year renewal, $316,220 tenant improvement allowance. Board noted the long-term commitment as a strong signal. Resolution 2026-072 passed 10-0-1.
• Tenant Moving Assistance Pilot Program: Janine Lambert presented a two-year pilot program offering voluntary financial assistance to Bureau tenants displaced by redevelopment. The program includes both commercial (up to $50,000 with estimates) and residential (up to $25,000, including down payment assistance) tiers. Discussion included concerns about the residential cap, documentation requirements, and potential for abuse. Board members debated the appropriate amount; some suggested lowering the residential cap. The motion to approve Bureau Bill 2026-11 passed 7-0-4 (four absent).

Key Outcomes

• Executive Session Action: Motion to authorize purchase and sale agreement for 12905 SW Beaver Dam Road passed 10-0-1.
• Financials: Unanimous acceptance of fiscal year 2025 financial statement and audit (10-0-1).
• Garage Leases: Both resolutions authorizing leases with Kofi LLC and Lumier Bakery LLC passed 10-0-1 each.
• Moving Assistance Pilot: Bureau Bill 2026-11 approved 7-0-4.

Executive Director's Report

• The Clean Water Services approved the downtown sub-basin stormwater strategy.
• A $20 million federal BUILD grant request was submitted for the downtown Loop project.
• Sarah Phipps returned to Beaverton as a project manager for downtown infrastructure.
• Michelle Tan started as the new Arts Program Manager, with over 20 years of experience.
• Closing on the MelTark Senior Housing Project is expected in April 2026.