ORDINANCE NO: 176413

*  Authorize purchase of property in the Sellwood-Moreland Improvement League Area from Richard H. and Cheryl A. Sherlock, located at 2210 SE Sherrett Street, as an addition to Johnson Creek Park (Ordinance)

The City of Portland ordains:

Section 1. The Council finds:

1.  Richard H. and Cheryl A. Sherlock have agreed to sell a approximately .46 acre (20,000 sq. ft) parcel of property to the City of Portland ("City") for $243,000 plus closing costs, which is within the fair market value range as established by independent appraisal. In addition, demolition of the existing buildings are estimated at $12,400, for a total up front cost of $255,400 plus closing costs.

2.  The property is commonly identified as Tax Lot 100 on Assessor's Map 1S-1E-26AA, and more particularly described and shown on Exhibit A, attached to this Ordinance ("Property"). This property is a park inholding and will be incorporated into Johnson Creek Park.

3.  Portland Parks and Recreation ("Parks") has reviewed the available information regarding the Property and recommends acquisition of the Property as an addition to Johnson Creek Park because it is in the public interest and for the general benefit and use of the people of the City of Portland.

4.  There are adequate monies available to fund acquisition of the Property. The acquisition will be funded revenue from the Parks Systems Development Charges (SDC) or SDC bonded debt. The acquisition is part of the SDC-CIP, a council approved park land acquisition program.

5.  The Director of Parks estimates that the on-going maintenance cost of the Property will be $2,700 per year. This O & M is not already included in the Parks 2001-02 budget, but ongoing funding capacity is available within the O & M set aside in the General Fund Forecast beginning in FY 2002-03.

NOW, THEREFORE, The Council directs:

a.  The Commissioner of Public Utilities is authorized to give any consents and execute any documents necessary to close the transaction once approved as to form by the City Attorney;

b.  The Commissioner of Public Utilities shall direct Parks to deposit $255,400 plus closing costs into an escrow account established for the purpose of acquisition of the Property;

c.  The Director of Parks is directed to add the Property to the City’s park inventory; and,

d.  In accepting responsibility for the Property, the Council acknowledges the need to fund the ongoing maintenance costs estimated at $2,700 per year, and directs the Bureau of Financial Planning to transfer this ongoing funding allocation from the General Fund O & M set aside to the Parks target budget beginning in FY 2002-03.

Section 2. The Council declares that an emergency exists because delay would prevent the completion of the land acquisition and because funds for purchase by the City are available now; therefore, this ordinance shall be in full force and effect after its passage by Council.

Passed by the Council, APR 24 2002    GARY BLACKMER

Auditor of the City of Portland

By /S/ Susan Parsons

Deputy

Commissioner Francesconi

Janet Wright

April 17, 2002

BACKING SHEET INFORMATION

AGENDA NO. 400-2002

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 176413