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however, is proposing extensive development setbacks, almost two acres more, than are required by current code. The Planning Commission reviewed this issue in detail during their deliberations and ultimately found that the proposal resulted in an overall expansion of the protected and enhanced area along the river. Attachment B illustrates the proposed Willamette River Greenway setback, and the extent of areas that are otherwise exempt from the Water Resource overlay setbacks (currently paved or existing buildings). Potential Funding Sources for Public Improvements Implementing the master plan will require on-going collaboration and leveraging of funds from multiple sources. There are a variety of public and private funding sources that will likely be considered. Private sources primarily include developer investment, potentially from multiple developers. Public sources could include grants from state or federal sources, Riverfront urban renewal funds and other City-controlled sources, as well as participation from EWEB. As an example, Public Works staff is coordinating with EWEB to pursue federal grant funding to reconstruct and realign the section of riverfront path within the master plan area. Additional options such as the formation of a local improvement district and other public-private partnerships have also been discussed. Until a development entity and a timeline are secured, amounts and sources are difficult to estimate. Options and future decisions regarding financial tools, incentives, and public-private partnerships will come back to the council for further discussion once the regulatory framework is in place. Future Park Site/ Riverfront Open Space The same is true of options that exist for future park ownership and maintenance, which will depend largely on the outcome of this process to first establish the park location and basic regulatory framework for redevelopment of the site. In the case of the EWEB property, an existing Memorandum of Understanding (MOU) identifies the City’s option to declare interest in all or a part of the site, once the proposed land use application package is adopted and EWEB indicates its intent to sell the property. A variety of options exist and have yet to be decided in terms of future ownership and management of the park site. Based on the level of interest in the proposed riverfront open space, additional details are provided in Attachment C, including a set of design guidelines and a detailed open space diagram from the plan. These materials help to show the intended location for various park improvements, riparian enhancements, native habitat areas, interpretive sites and other park elements including areas that could be available for community gardens. The proposal is based upon a “Riverfront Ecological Analysis and Design” report that was prepared during the master planning process, which includes an analysis and recommendations about the site’s ecological condition, riparian restoration, and balancing of these opportunities among economic, social, and environmental concerns. A specific native planting list developed as part of this analysis is included in the adoption package. These materials help to show the balanced approach envisioned in the master plan for compact urban development, reconnecting downtown S:\CMO\2013 Council Agendas\M130612\S130612A.doc