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INTERGOVERNMENTAL PARTICIPATION AGREEMENT THIS PARTICIPATION AGREEMENT (the °Agreement") is made and entered into as of the ~t~ day of , 19~, by and between the URBAN RENEWAL AGENCY OF THE CITY OF~, OREGO the City of Salem Oregon, a public oda Poblorate yA~ ncrate, acting by and through OREGON, a political subdivision of the State of Oregon ("County"), and AL M AREA~ MASS TRANSIT DISTRICT, a political subdivision of the State of Oregon ("Transit District"). RECITALS A• The County and the Transit District own certain real property located in downtown Salem, Marion County Oregon, described as Block 5, Salem. The County and Transit Dist~ict have agreed to construct on the p~operty a mixed use facility commonly known as Courthouse Square generally consisting of a transit center with Transit District administrative offices, County administrative offices, and other improvements to be developed by a third party on a leasehold interest granted by the County and Transit District (the "Project"). B. The Project is located within the boundaries of the RiverfronUDowntown Urban Renewal Plan ("Plan") adopted Ma 5 1975, Objectives of the Plan, administered and mplemented by the Age cy, nblude "To 98 improve present public streets and alleys by installation of new surfacing, curbs, gutters, sidewalks, and the placing of visually integrated street furniture, and to develop and improve the street fighting system." (section 400 M), "Where necessary, to construct, install, and replace new publicly owned utility systems such as water, storm drains, and sanitary sewers where existing systems are inadequate, undersized, or substandard."(section 400 P), and "To beautify and enhance the streetscape by participating in projects involving public art, landscaping, sidewalk surfacing, signing, street furniture, intersection corner bulbs, weather protection, and ~elated improvements" (section 400 R). C• The County and Transit District have requested the Agency to financially participate in the Project by funding streetscape improvements, weather protection, street lighting, traffic signalization, public utility reconstruction, and removal of an existing on-street transit transfer facility. ~ The Agency pledged up to $2 million to fund participation in the requested Project elements. In accordance with an annual tax management plan and the annual budget of the Riverfront/Downtown Urban Renewal Area, fur~ds to meet the $2 million dollar pledge are being accumulated over a three year period with full funding of the pledge to be achieved July 1, 1999. ~~.~