Direct the City Administrator to advance a process to identify a development partner for City-owned properties adjacent to the Moda Center

WHEREAS, the City owns ten parcels in the Rose Quarter in District 2, around Moda Center and the Veterans Memorial Coliseum (VMC) including a number of parcels with redevelopment potential; andWHEREAS, development procedures for City-owned parcels are addressed in the current lease agreement that is set to expire on October 11, 2030; andWHEREAS, the City is currently considering terms for a new long-term lease with the Blazers, which is anticipated to be finalized by December 31, 2026; andWHEREAS, development adjacent to Moda Center has the opportunity to align with other related efforts in the broader Lower Albina area, including the Oregon Department of Transportation's I-5 Rose Quarter Transportation Corridor, Broadway/Weidler Main Street Improvements, Portland Public Schools Prophet Education Center Site redevelopment by Albina Vision Trust, and the Reconnecting Albina Planning Project; andWHEREAS, since 2012, the Portland City Council adopted a number of foundational plans and guiding policies—including the Portland Plan, the 2035 Comprehensive Plan, the Central City 2035 Plan, and the N/NE Quadrant Plan—that support the establishment of a reconnected, mixed-use residential neighborhood in the Lower Albina area and promote inclusive economic development with emphasis on elevating communities that have been disproportionately burdened, and were sometimes intentionally harmed by past governmental actions; andWHEREAS, the City of Portland is supporting a variety of complementary planning efforts and projects in Lower Albina in an effort to advance multiple City objectives for the area that include fostering wealth-building and inclusive economic development, vibrant regional entertainment venues, and multimodal regional and local transportation in the area; andWHEREAS, the Albina Vision Trust, a 501(c)3 community-led development organization, was created in 2017 to steward the vision for the future of Lower Albina: a nationally precedent-setting, 94-acre restorative redevelopment plan for the area; the largest such initiative in the United States with a holistic, child-centered, district-level plan for the creation and generational sustenance of a diverse, abundant and historically informed zip code in the heart of Portland's central city; andWHEREAS, in July 2024, City Council accepted the Albina Vision Trust Community Investment Plan and affirm City objectives for the area in alignment with the N/NE Quadrant Plan and Central City 2035 Plan; andWHEREAS, pursuant to Charter Section 1-104 the City may sell, dispose or exchange any real property which it owns not needed for public use, by negotiation, bid, auction or any other method the City finds appropriate, including the method for granting of development rights for City-owned properties; andWHEREAS, ADM-13.02- Disposition of City Real Property requires a consistent process for the identification, notification and disposition of excess and surplus real property, including the granting of development rights.NOW, THEREFORE, BE IT RESOLVED that the City anticipates selecting a new development partner to advance vertical development of the City-owned properties adjacent to the Moda and VMC following the new long-term lease for the Moda Center; andBE IT FURTHER RESOLVED that the City Administrator will negotiate with Albina Vision Trust for the opportunity to serve as the City's new development partner; andBE IT FURTHER RESOLVED the development partner should have a community-oriented mission and leadership with demonstrated:Experience in real estate financing and development or securing partnerships to effectively advance real estate development;Ability to bring significant philanthropic and/or private investment to the table; andExperience advancing the public interest and the City's adopted objectives for the area; andBE IT FURTHER RESOLVED the process should consider the organization's development vision for properties, the relationship to the broader Rose Quarter/Lower Albina area, compatibility with the function and operations of the event campus, consistency with the rest of the new Rose Quarter agreements, any costs associated with the granting of development rights, the monetary value of development rights, and potential and/or anticipated public financial support necessary to advance development; andBE IT FURTHER RESOLVED the process should address how the partnership would be structured, the property disposition strategy site by site, the timeline for redevelopment, City and partner roles and responsibilities, and key milestones; andBE IT FURTHER RESOLVED the binding agreements shall return to City Council for consideration on a concurrent timeline as the long-term lease for the Moda Center; and for a period to not exceed 12 months from when negotiations begin.