*Authorize contract with Adidas America, Inc. in the amount of $90,000 for anticipated power and maintenance costs for the following thirty years for a new traffic signal at N Greeley Ave and Adidas’ Driveway

The City of Portland ordains: Section 1. The Council finds: Adidas intends to fund and construct a traffic signal at the intersection of N Greeley Ave and adidas’ driveway entering private property, and after construction completion and City acceptance, the City will be responsible for all future maintenance and repair of the traffic signal; and As this traffic signal will solely serve adidas employees and guests, Adidas has prepared a standard maintenance agreement to provide the City with a lump sum payment in the amount of $90,000 to cover anticipated power and maintenance costs for the traffic signal for the following thirty years (Exhibit A); and The City has a commitment to invest in external partnerships, including clarifying the priorities and expectations for each relationship; and The City has a commitment to reducing its unfunded maintenance liability by recouping costs associated with maintenance of traffic signals that solely serve private entities such as Adidas; and The City has an interest in creating a transportation system that is safe, comfortable, and accessible to people of all ages and abilities The maintenance agreement states that adidas will pay the City a lump sum amount of $90,000 for thirty years’-worth of maintenance (estimated at $3,000 per year for thirty years). NOW, THEREFORE, the Council directs: That the Director of the Portland Bureau of Transportation is hereby authorized to execute the standard maintenance agreement with Adidas as attached. The Director of the Portland Bureau of Transportation is authorized to execute amendments, approved as to form by the City Attorney, to the scope of the services or the terms and conditions of this Agreement, provided the changes do not increase the City’s financial risk. Section 2. The Council declares that an emergency exists because it is necessary for adidas to provide payment for future reimbursement of maintenance expenses for this traffic signal ; therefore, this Ordinance shall be in full force and effect from and after its passage by the Council.