On December 26, 2007, Metro and Garfield Traub Ashforth, LLC (GTA) entered into a development agreement regarding the Oregon Convention Center Headquarters Hotel Project, as authorized by the Metro Council on November 8, 2007 via Resolution 07-3882.

The Development Agreement outlines several distinct phases, and the Metro Council has the ability to terminate the agreement during each phase. The first phase is a 6-to-8 month Feasibility Period, in which the developers and Project team will deliver to Metro conceptual Project drawings, a preliminary project budget and schedule; and agreements with the project team including the design-build agreement and the hotel operating and room block agreements. Metro will pay the project team $600,000 for these deliverables.

If Metro decides to continue with further development after reviewing these project deliverables, the Project will move into the Design Development Phase, an approximate 8-9 month period wherein the developers will work with the Project team to deliver to Metro for Metro’s review and approval updated architectural drawings and an updated Project budget based on the new drawings. The fee for this phase will be up to $5 million dollars, the bulk of which will pay for architectural work, which architectural drawings and documents will illustrate and describe the refinement of the design of the Project, establishing the scope, relationships, forms, size and appearance of the Project by means of plans, sections and elevations, typical construction details and equipment layouts. This phase of architectural drawings will also include specifications that identify major materials and systems.

If Metro decides to continue with further development after reviewing these Design Development Phase project deliverables, the Project will move into the Construction Document Development Phase, an approximate 7 month period wherein the developers will work with the Project team to deliver to Metro for Metro’s review and approval final construction drawings and a Guaranteed Maximum Price for the Project. The fee for this phase of the Project will be up to $5 million dollars, the bulk of which will again pay for architectural work. All pre-construction fees paid to the architect and the General Contractor will be credited against the Project price, and all pre-construction fees paid to the developer will be credited against the developer’s fee.

Please direct any questions regarding the headquarters hotel to Matt Springer, Project Coordinator, at 503-797-1556 or [email protected]