ORDINANCE No. 176758

*  Authorize purchase of property in the Powellhurst-Gilbert Neighborhood area from James E. Stout for use as a Neighborhood Park (Ordinance)

The City of Portland ordains:

Section 1. The Council finds:

1.  James E. Stout has agreed to sell a 1.50 acre parcel of property to the City of Portland ("City") for $280,000 plus closing costs which is within the fair market value range as established by independent appraisal. In addition a one-time stabilization cost of $4,600 and the appraisal cost of $2,650 is included for a total up front cost of $287,250 plus closing costs.

2.  The property is commonly identified as Tax Lot #300, Map 1S2E14AB, in the City of Portland, Multnomah County, Oregon, and more particularly described and shown on Exhibit A, attached to this Ordinance ("Property").

3.  Portland Parks and Recreation ("Parks") has reviewed the available information regarding the Property and recommends acquisition of the Property for use as a Neighborhood Park within the Powellhurst-Gilbert Neighborhood Association 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 acquire 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. Neighborhood Parks SDC will provide $260,000, and Habitate SDC will provide $27,250.

6.  The Director of Parks estimates that the on-going maintenance cost of the Property will be $4,500 per year. This O & M is not already included in the Parks 2002-03 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-in-Charge of Portland Parks and Recreation 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-in-Charge of Portland Parks and Recreation shall direct Parks to deposit $ 280,000 plus closing costs into an escrow account established for the purpose of acquisition of the Property;

c.  Portland Parks & Recreation is directed to include in the Fall Budget

 Monitoring Process a $4,600 internal service reimbursement from the Parks  Construction Fund to the Parks General Fund Budget to provide for one-time  stabilization costs at the site.

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

e.  In accepting responsibility for the Property, the Council acknowledges the need to fund the ongoing maintenance costs estimated at $4,500 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 budget in the Fall Budget Monitoring Process for 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, JUL 31 2002    GARY BLACKMER

Auditor of the City of Portland

By /S/ Terry Reisz

Deputy

Commissioner Francesconi

Janet Wright

July 23, 2002

BACKING SHEET INFORMATION

AGENDA NO. 937-2002

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 176758