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Council approves interfund loan to buy 921 South Buxton Road, sets 10-year repayment
Summary
The council voted to authorize an interfund loan of $1.5 million to the general fund to acquire 921 South Buxton Road (former Troutdale Community Church) and budget for initial renovation work, with repayment to Parks SDC fund over 10 years.
The Troutdale City Council approved a resolution authorizing an interfund loan of $1,500,000 to fund the purchase of 921 South Buxton Road, the property formerly occupied by the Troutdale Community Church, and provided for a supplemental budget for fiscal year 2025-26.
Lede context: Finance staff explained the loan will be drawn from the Parks System Development Charge (SDC) fund and repaid by the general fund over 10 years, in accordance with local budget law provisions for capital interfund loans.
What the council approved - The resolution implements a purchase authorized earlier by council (the transcript references a prior July 8 resolution…
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