ORDINANCE No. SUBSTITUTE 181510

*Accept a donation of $1,575,000 from the Portland Parks Foundation on behalf of an anonymous donor for the development of South Park Block 5 (Ordinance)

The City of Portland ordains:

Section 1. The Council finds:

1.  Portland Parks and Recreation (PP&R) is in the process of designing a park on the surface of South Park Block 5 (SPB5), which will be donated to the City by the Marilyn Moyer Charitable Trust. Construction of the park will begin as soon as possible after the completion of the subsurface parking garage and the park is expected to be completed in the Spring of 2009.

2.  An anonymous third party donor pledged a gift of $1,575,000 to the Portland Parks Foundation. The Foundation wishes to transfer, and Parks wishes to accept, these funds to be used for the construction of a park at South Park Block 5.

3.  The City will receive a gift of $1,575,000 to be applied to the costs of the SPB5 project. However, this gift will be paid in installments in 2009, 2010, and 2011. The Parks Capital Improvement fund will manage the cash flows with regard to this project and the incoming installments. However, if it becomes necessary in the future that the Parks Capital Improvement fund cash balances require a temporary loan from the General fund, a request will be made at that time.

4.  Because of its contribution of the surface of South Park Block 5 and $1,000,000, the Marilyn Moyer Charitable Trust was granted naming rights for the Park, which it has chosen to transfer to the anonymous donor. The anonymous donor will be given the right to name the SPB5 park, subject to Council approval of the name. To the extent that the naming rights are not being exercised in complete accordance with Parks’ Naming Policy (PRK 3.03), Council waives any inconsistencies.

5.  Portland Parks Foundation and Portland Parks and Recreation have negotiated the terms of the donation as set forth in the attached South Park Block 5 Support Agreement, which has been approved as to form by the City Attorney.

6.  The Portland Development Commission (PDC) has committed $800,000 funds subject to receipt of private donation. Additionally, Council set aside $700,000 in general fund contingency subject to matching receipt of private funding for this project.

NOW, THEREFORE, the Council directs:

a.  The Director of Parks is authorized to execute the South Park Block 5 Support Agreement, in a form substantially similar to the form of agreement attached to this Ordinance, and to accept, on behalf of the City of Portland, the donation of $1,575,000, in accordance with that Agreement.

Section 2. The Council declares that an emergency exists due to the need to secure funding for the project in order to facilitate the bidding process and construction; therefore, this Ordinance shall be in force and effect from and after its passage by Council.

Passed by the Council: January 2, 2008

Commissioner Saltzman        GARY BLACKMER

Ptrepared by: Allison Rouse:kmg      Auditor of the City of Portland

December 6, 2007          By /s/Susan Parsons

                   Deputy      

BACKING SHEET INFORMATION

AGENDA NO. S 1515, S34-2008

ACTION TAKEN:

DEC 19 2007 CONTINUED TO JAN 02 2008 9:30 AM

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. SUBSTITUTE 181510