BEAVERTON, Ore. - You might just see professional baseball in Beaverton after all.

Officials from the City of Beaverton have reached a deal with officials from the Portland Beavers on how to pay for a new stadium. The details were released this afternoon on the plan that would cost tax-payers $35 million dollars. On average each year, city officials said homeowners would see an increase of $57 per year. That amounts to a $22 increase in property taxes, a $20 increase in natural gas costs and a $15 jump in their electricity bill. 

Later Tuesday night, the city council will meet to discuss the plan.

Here are the terms of the agreements, as released by the City of Beaverton Tuesday:

"Together with business and community leaders, Mayor Denny Doyle announced today that the City of Beaverton has reached a preliminary understanding with Peregrine LLC to help build a new publicly-owned multi-purpose venue in Beaverton to hold concerts, community activities, amateur and youth sporting events as well as become the new home to Triple-A baseball in Oregon. Peregrine LLC (Portland Beavers baseball) would become the primary tenant and contribute $9 million up front in addition to $600,000 per year in license fees and a 6 percent ticket fee which over time will equal an additional $29.9 million.

'A new community gathering place will create jobs at a time when more people need them, stimulate downtown redevelopment and become a destination for people from across the region,' said Beaverton Mayor Denny Doyle. 'We still have more work to do but this understanding is a step forward toward the realizing the city's vision for a revitalized downtown and public desire for a community gathering place.'

The Mayor was joined by Oregon State Representative Tobias Read, Beaverton City Council President Bruce Dalrymple, Washington County Visitors Association President and CEO Ruthie Reinhart, Beaverton Chamber of Commerce President Lorraine Clarno, Oregon Sports Authority CEO Drew Mahalic, Oregon Business Association President Ryan Deckert, longtime Beaverton area baseball coach Len Clarke plus Wendi Eiland of American Family Insurance, Jaann Hoisington of Koeber's Carpets, Rick Kam of ID Experts and Dave Vernier of Vernier Software & Technology.

'I am absolutely, 100% for the Beavers coming to Beaverton. As a third generation Beaverton resident, mom, and business owner, I believe a multi-use venue is exactly what we need to revitalize a pretty quiet downtown," said Jaann Hoisington, an owner of Koebers Carpets and an active participant in the city visioning process. "The neighbors I've talked to - from high school kids to senior citizens - all say 'give me a reason to come downtown!' Whether you come to the Beaver games or not, I see this as a solid opportunity to bring new businesses, shops, and restaurants to what will become a prize destination. I believe in this area and see nothing but good coming from the decision to move forward.'

Site Selection Followed by Community Input
In addition to reaching a preliminary agreement on funding, the City of Beaverton is also actively considering locations for the facility. A site recommendation is expected within 10 days to two weeks. Last week, the City of Beaverton released a list of sites that are no longer being considered for the project, including the Westgate site. Once a potential site is identified, the City is planning a comprehensive public hearing process to seek out community input.

"This is a win for Beavers baseball and a win for Beaverton's future. Baseball will succeed and grow in Beaverton. I look forward to quickly finalizing a ballpark location and becoming a long-term part of the Beaverton and Washington County communities,' said Merritt Paulson, owner of the Portland Beavers.

The details of the Memorandum of Understanding (or MOU) will be presented to the City Council at a Study Session on Tuesday, October 13 at 6 p.m. at City Hall. Study sessions are for the purpose of allowing the city council and staff to informally discuss and better understand issues before the city. While there is no visitor comment period or Council decision at the study session, the public is welcome to attend.

Public Feedback
During the last two years, the city engaged the public in the Beaverton Community Vision project in which more than 3,800 citizens shared their views for Beaverton's future. Among the top responses was an overwhelming interest in building community and creating a vibrant downtown for Beaverton. In addition, a recent survey of Beaverton's registered voters demonstrated that two-out-of-three voters support a multi-purpose facility. Survey respondents also demonstrated a strong interest in attending concerts (78%), community celebrations (63%), sporting events (62%) and baseball games (61%) at such a facility. Hundreds of comments, the majority in favor of the project, have been received via email by the City of Beaverton and are posted at www.BeavertonOregon.gov.

"We've done our research. We've talked to our citizens. Beaverton residents have told us overwhelmingly that they want a stronger, more dynamic downtown. Now it's our job as elected officials to act on that directive," said Beaverton City Council President Bruce Dalrymple. "Imagine being able to attend a ball game, graduation ceremony, concert or enjoy shopping, dining and working all right here at home. We've got a unique opportunity with a private investor to make it happen."

Memorandum of Understanding
The MOU is a non-binding agreement that sets the framework for future discussions. The estimated total project cost is $59 million and includes the estimated cost of land and construction of the venue. The City of Beaverton would own the land and the building, Peregrine LLC would pay the City to use the venue at which the Portland Beavers baseball team would play 72 regular-season home games per year. The 25-year proposal calls for the City of Beaverton to contribute $34.9 million toward the venue from city-issued bonds and Peregrine to contribute $24.1 million. The $24.1 million from Peregrine includes a $9 million up-front capital contribution, a $1.25 million contingency fund, if needed, and annual payments to the city over 25 years that provides $29.9 million ($13.8 million in today's dollars). The City and Peregrine will share equally any project cost over-runs up to $2 million and Peregrine will pay cost over-runs in excess of $2 million. Further, each year Peregrine will pay the first $25,000 for repairs and capital improvements to the facility, and Peregrine's annual payments will help fund capital and operating reserves, and other administrative costs of the City. Peregrine also commits to keeping the Beavers in the stadium for 25 years.

'Investing in a multi-purpose venue will bring more than 450,000 people each year into Beaverton, create jobs when they are needed most and will be part of a larger revitalization effort that will help us create a healthy, sustainable long-term economic base for our community,' said Doyle.

If the MOU and site are approved by Council, the City of Beaverton would continue to negotiate a pre-development agreement by mid-November and a development agreement by the end of the year. Facility construction would begin in spring 2010 with the goal of the stadium being ready for Beavers Opening Day in April 2011."