*Authorize grant application in the amount of $15 million from the United States Department of Transportation to fund local streets at Broadway Corridor

The City of Portland ordains: Section 1. The Council finds: The U.S. Department of Transportation has published a Notice of Funding Opportunity (NOFO, Exhibit A) for $1.5 billion in grant funding through the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) discretionary grant program. The popular program helps communities around the country carry out projects with significant local or regional impact. Portland Bureau of Transportation (PBOT) is designing new urban streets and a new traffic signal critical to unlock four million square feet of mixed-use, mixed-income, urban development at the former USPS site in Portland’s Central City (Exhibit B). Redevelopment of the 14-acre former USPS property at the heart of the Broadway Corridor district represents one of Portland’s most significant prospects to further an equitable economy by advancing wealth creation opportunities through construction, development, and tenanting; creating a vibrant and welcoming neighborhood; and supporting living wage jobs. The RAISE grant program requires a 20% cost share for any awarded grant. Local match in the amount of $6M in Local Improvement District (LID) revenue and $2M in Systems Development Charges (SDC) will be used in the project. NOW, THEREFORE, the Council directs: The Mayor is hereby authorized to make application to the United States Department of Transportation for a grant in the amount of $15 million. The Mayor is authorized to accept on behalf of the City a grant when awarded and to execute a grant agreement. The Mayor is authorized to provide such information and assurances as required for the grant period. The Office of Management & Finance Grants Management Division is authorized to perform all administrative matters in relation to the grant application, grant agreement or amendments, requests reimbursement from the grantor, and to submit required online grant documents on the Mayor’s behalf. Section 2. The Council declares that an emergency exists because a delay would unnecessarily hinder the City’s ability to apply for the grant funds; therefore, this ordinance shall be in full force and effect from and after its passage by the Council.