February 1, 2006

1. On January 3, 2006, the Portland Development Commission (PDC) contracted with Pinnell/Busch Inc., an engineering consulting firm, to prepare a report on the Portland Aerial Tram. The consulting team was commissioned to establish the best estimate of the final construction cost of the tram, determine if there are ways to reduce construction costs, expedite the work, and manage risks that could cause the tram construction costs to increase.
   
   
2. PDC is now releasing the February 1, 2006 Pinnell/Busch report. Key conclusions include:
   
   
   • Successful Completion Possible
   • No Engineering Opportunities to Reduce Project Costs
   • Cost Estimate $55 Million, Includes $5 Million Contingency
   • Further Delay Most Significant Risk
   • Identified Risk Factors Must be Managed Immediately
   • Coordination and Scheduling are Crucial

Related to the Pinnell/Busch report, posted on our website in Adobe PDF format you will find:

1. The Pinnell/Busch Inc. Portland Aerial Tram Report
   (21 pages);
   
   
2. PDC’s Executive Summary of the Pinnell/Busch report
   (1 page); and
   
   
3. Prepared statement in response to the Pinnell/Busch report by Bruce Warner, PDC Executive Director (1 page).

 

3. On January 30, 2006, City of Portland Mayor Tom Potter released a memo to City Council outlining expectations for addressing tram funding issues. In that memo, the Mayor appointed PDC Executive Director Bruce Warner as the lead in negotiating funding solutions for the tram and presenting a report to a full City Council work session in the near future. In response, Bruce Warner has appointed the team responsible for negotiating and presenting to the City Council work session to include:
   

• Bruce Warner, PDC Executive Director
• Austin Raglione, Mayor’s Office
• Tom Miller, Commissioner Adams’ Office
• Steve Stadum, OHSU
• Dike Dame, NMI
• Mike Lindberg, PATI Board
• Sue Keil, PDOT Director
• Ken Rust, OMF
  

Related to the Mayor’s memo, also available on our website in Adobe PDF format you will find:

4. January 30, 2006 Memo from Mayor Tom Potter to City Council (2 pages); and
   
   
5. Prepared Statement in Response to the Mayor’s Memo from Bruce Warner, PDC Executive Director (1 page).
   
   

All of the aforementioned documents are available in electronic format on the PDC website online newsroom at www.pdc.us/newsroom under the link titled Breaking News.

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