*Authorize Development Agreement with AM/DRI Willamette LLC to develop Blocks 41, 42, 44, and 45 in South Portland and install South Portal Transportation Improvements

The City of Portland ordains: Section 1. The Council finds: AM/DRI Willamette, LLC is a developer that owns land on S Bond Ave from S Lane St to S Lowell St in the City of Portland and is presently, and in the future, undertaking development of their property. The Portland Bureau of Transportation (PBOT) has identified improvements required within the rights-of-way adjacent to the Development. The initial conditions of approval were based upon the phasing assumption that Blocks 41 (Lot 1) and 44 (Lot 4) would be developed as the first phase, followed by Blocks 42 (Lot 2) and 45 (Lots 3) as a second phase. The Developer’s phasing of the Project differs from the Subdivision Approval conditions and instead includes the following three phases: “Phase 1” includes Blocks 41 (Lot 1) and 42 (Lot 2); “Phase 2” includes two buildings on Block 45 (Lot 3); and “Phase 3” includes Block 44 (Lot 4). Site development depictions are attached as Exhibits to this ordinance. AM/DRI Willamette LLC is responsible for the design, planning, and construction of the “South Portal Transportation Improvements”. These transportation improvements will include the installation of a new traffic signal and reconfiguration of the intersection geometry and signal phasing at S Macadam and S Bancroft to allow the eastbound and westbound left turn movements to occur simultaneously, prohibit the eastbound through movement, and construction of any improvements necessary to accommodate a second eastbound left turn lane with a 75 foot long storage (initially to be striped as a single left turn lane). All transportation improvements shall be made to the satisfaction of the City Engineer. AM/DRI Willamette LLC shall seek approval for immediate transportation system development charge (TSDC) credit for the full anticipated cost of designing, constructing, and installing the South Portal Transportation Improvements. The TSDC credit will be adjusted based upon actual costs following completion of the South Portal Transportation Improvements. The City will review receipts for actual costs submitted by the Developer after construction of the South Portal Transportation Improvements is complete and shall provide for a subsequent adjustment in accordance with City Code Section 17.13.070.B.2. The Development Agreement, attached as Exhibit A to this ordinance, was developed by PBOT working with AM/DRI Willamette LLC to govern design and construction of the transportation system improvements established as conditions of Development Approval LU 20-102914 DZM AD GW, and ensure the City’s interests are protected. NOW, THEREFORE, the Council directs: The Director of the Bureau of Transportation is authorized to execute Exhibit A on behalf of the City in substantially similar form to those attached to this ordinance. Section 2. The Council declares that an emergency exists because the proposed development is in progress and provides housing supply ; therefore, this Ordinance shall be in full force and effect from and after its passage by the Council.