ORDINANCE No. 181511

*Amend Coordination Agreement with TMT Development Co, Inc. for the development of South Park Block 5 (Ordinance; amend Contract No. 52688)

The City of Portland ordains:

Section 1. The Council finds:

1.  Portland Parks and Recreation (PP&R) is designing a park on the surface of South Park Block 5 (SPB5). TMT Development Co., Inc. (TMT) is building an underground parking garage on SPB5, which will be substantially completed by December 1, 2007. Construction of the park will begin as soon as possible after the completion of the subsurface parking garage.

2.  PP&R and TMT previously entered into a Coordination Agreement (Ord. No. 180315), dated May 10, 2006, to coordinate the development of the parking garage and the park. The Parties now wish to amend that agreement, in a form substantially similar to the attached First Amendment to Coordination Agreement.

3.   In the Coordination Agreement, TMT agreed to replace the street improvements that it would have to remove in order to construct the garage. The City, however, intends to improve the frontages of SW Park Avenue and SW 9^th Avenue as part of a concerted effort to upgrade the appearance of the South Park Blocks. For this reason, if TMT improves the streets bordering SPB5, the City would likely remove those improvements.

4.  To avoid waste and needless duplication, PP&R and TMT wish to amend the Coordination Agreement to have TMT make temporary street improvements and pay the City $140,000 in lieu of providing permanent street improvements. Parks will use these funds, together with other funding sources, to construct the permanent streets.

5.  The First Amendment to Coordination Agreement also amends the specifications that TMT will apply in constructing the system that protects the parking garage waterproofing membrane.

NOW, THEREFORE, the Council directs:

a.  The Director of Parks is authorized to execute on behalf of the City the First Amendment to Coordination Agreement and any other amendments to the Coordination Agreement necessary, in the Director's judgment, to achieve completion of the project. All such amendments shall be approved as to form by the City Attorney.

Section 2. The Council declares that an emergency exists in order to avoid delays in the development of South Park Block 5; 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

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

December 6, 2007            By /s/Susan Parsons

               Deputy

BACKING SHEET INFORMATION

AGENDA NO. 1516, 35-2008

ACTION TAKEN:

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

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 181511