Item 2D: Resolution Approving Grant for Green Property

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Adoption of Resolution 4940 Authorizing Application for Grant from the Oregon Parks and Recreation Department for the Acquisition of the East Fork Amazon Headwaters Meeting Date: April 28, 2008 Agenda Item Number: 2D Department: Public Works Staff Contact: Carolyn Weiss www.eugene-or.gov Contact Telephone Number: 682-4909 ISSUE STATEMENT The Oregon Parks and Recreation Department requires a council resolution that authorizes the City’s grant application to help with acquisition costs of the Green property. On January 28, 2008, the City Council approved a purchase option agreement for the Green property and directed staff to seek grant funding to help with acquisition costs. BACKGROUND On January 28, 2008, the City Council acted to acquire an initial option to purchase a 39.9 acre parcel owned by Joe Green. At that time, the council also directed staff to seek grant funding to help with acquisition costs. Staff has prepared and submitted a grant application to the Oregon Parks and Recreation Department (OPRD). Although the grant application was due on April 4, the council resolution approving the grant application can be submitted as late as the end of April. Staff is also preparing a grant application to be submitted to the Oregon Watershed Enhancement Board (OWEB) by April 21st. A council resolution is not required for the OWEB application. The purchase price identified in the option agreement is supported by a recent appraisal for $3.8 million. The current funding plan is as follows: ? OPRD - approximately $950,000, 25% of the total purchase price ? OWEB - approximately $1.9 million, 50% of the total purchase price ? Donation - approximately $380,000 from the current property owner. ? City of Eugene - approximately $570,000, the City’s share combined with the property owner donation equals 25% of the total purchase price. If the grant applications are successful, staff would put together a funding package that would include funds from the 2006 Parks Bond, Parks’ systems development charge’s (SDC) stormwater acquisition dollars, or other sources as directed by the City Council. The percentages that would come from each source have not yet been identified. The funding structure for this acquisition is similar to the funding structure defined in last year’s applications to the Forest Legacy Program and OWEB for the purchase of 400 acres along the Ridgeline F:\CMO\2008 Council Agendas\M080428\S0804282D.doc