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Committee narrows commitment on PSU Broadway venue, adds financial guardrails and preserves Keller future
Summary
The City Life Committee voted to send a revised resolution to full council that supports planning for a Broadway-capable venue at Portland State University while adding requirements that the city receive a full capital stack, project cost and proposed city contribution before any financial commitment is made; the committee also secured protections for the Keller Auditorium.
The City Life Committee on Aug. 11 approved amendments to a resolution supporting planning for a new, approximately 3,000-seat Broadway-capable venue at Portland State University, saying the action should advance planning but not obligate Portland taxpayers without detailed financial review.
Councilor Carmen Avalos moved a set of amendments that replace the resolution's language "affirm the city's commitment" with wording that the council "support advancing planning and predevelopment for a potential new city-owned approximately 3,000-seat Broadway-capable venue," and that any agreement that would financially obligate the city must return to council with a fully defined capital stack and total project cost. "My 3 amendments are therefore not intended to stop the PSU work. They're intended to let that work continue while being precise about what council is and is not deciding today," Councilor Avalos said.
Portland State University representatives told the committee the state has committed $137,000,000 toward the university portion of the project, primarily for an education component and parking, and that the city's proposed $44,000,000 figure would cover predevelopment and design of the city-owned component. "So the $137,000,000 is the state's commitment to PSU to construct [the] performing arts venue," Jason Franklin, PSU's associate vice president for planning and real estate, said. Ann Cudd, PSU's president, added: "We are not asking for the city to vote for $44,000,000 today."
City staff said they do not expect the resolution itself to commit city funds. City Administrator Lee told the committee the administration's intent was to ensure any future financial obligations be returned to council for approval. "We would not be trying to come back to council midstream of a project and say, 'hey, we need additional money,'" Lee said, describing a plan to bring detailed financial analysis and contingencies before any binding decisions.
The committee adopted Avalos 1, Avalos 2 (revised to remove a requested return-on-invested-capital clause), and Avalos 3, and then voted to forward the amended resolution to the full council with a recommendation to adopt. Committee members said the changes preserve staff authority to plan and negotiate while protecting the city from unspecified financial commitments until the capital stack and risks are clearly defined.
