City Council to convene as Prosper Portland Budget Committee to approve the FY 2021-22 Budget

DATE: May 11, 2021 TO: Mayor Ted Wheeler Commissioner Jo Ann Hardesty Commissioner Mingus Mapps Commissioner Dan Ryan Commissioner Carmen Rubio FROM: Kimberly Branam, Executive Director, Prosper Portland SUBJECT: FY 2021-22 Prosper Portland Budget Change Memo and Resolution Approving the Budget City Council, acting as the Prosper Portland Budget Committee, is scheduled to vote on Prosper Portland’s budget on May 19, 2021. The attached Exhibit A to the resolution approving the budget illustrates the Fiscal Year (FY) 2021-22 Proposed Budget appropriations by fund presented during the May 6, 2021 presentation to City Council and recommends one technical change. The technical change is to move $2.5 million in funding in the Downtown Waterfront TIF District Fund from the current fiscal year to next fiscal year’s budget (FY 2021-22). The technical change recognizes that some funding related to the Old Town/Chinatown Action Plan will not be necessary in the current year and therefore can be appropriated towards potential projects that support the plan next fiscal year. Changes that are approved by City Council, acting as the City of Portland Budget Committee on May 13, 2021 impacting the General Fund, Cannabis Fund, or American Rescue Plan Fund allocations to Prosper Portland will be included as recommended amendments to Exhibit A as part of Prosper Portland’s budget approval on May 19, 2021. Exhibit A may be further amended as directed by the Budget Committee as part of budget approval on May 19, 2021.