City of Oroville, CA
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The Supplemental Benefits Fund (SBF), the result of a Settlement Agreement (SA) signed by multiple parties associated with the re-licensing of the Oroville Dam, could make available up to approximately $61 million (in nominal dollars) [1] over the next 30 to 50 years, depending on the term of the license that will be issued by the Federal Energy Regulatory Commission (FERC).
The determination of the $61,270,000 that had been used as the basis for SBF funding came from ten concepts that were, at the time, part of the Oroville Downtown Waterfront Redevelopment Concept Plan [2] and the probable construction costs assigned in 2006 when the SA was signed by over fifty participating agencies, groups and individuals.
What were the ten concepts that were considered very important, at the time, to the recreational and economic growth of Oroville and what costs were allocated to the SBF for possible future funding participation?
| South Bank Waterfront Linear Park | 6,740,000.00 | ||||
| North Bank Waterfront Linear Park | 9,292,000.00 | ||||
| North Bank Public Space Area | 800,000.00 | ||||
| Gateway Park | 9,280,000.00 | ||||
| Downtown Waterfront Park | 28,880,000.00 | ||||
| Whitewater Park | 23,505,440.00 | ||||
| Group Camping Space | 9,978,508.00 | ||||
| Equestrian Event Staging/Multi-purpose Camping Space | 8,164,595.00 | ||||
| Neighborhood Park (Both Sides of the Feather River) | 14,744,000.00 | ||||
| Total used to determine SBF funding: | 111,384,543.00 | ||||
| Riverbend Park Interim Funding (footnote 3) | 5,200,000.00 | ||||
| SBF Funding at Riverbend Park (footnote 4) | 1,000,000.00 | ||||
And divided by two is how the $61,270,000 figure was derived to establish Appendix B of the Settlement Agreement which was defined as, “Measures Agreed to Among the Parties but Not to be Included in New Project License”.
Since 2007 $11,270,000 has been provided, via Appendix B, to the SBF and the balance of $50,000,000 would be paid out over a fifty-year period assuming that is the final license term approved by FERC is 50 years.
Footnotes:
[1] Nominal dollars is defined as dollars that are not adjusted for inflation.
[2] Funding for the concept plan was to come from the Oroville Redevelopment Agency (RDA), unfortunately all RDAs were dissolved by the State of California in 2012.
[3] $5,200,000 Riverbend Park, Phases I & II were included in “up-front” funding from DWR and completed in 2005.
[4] The SBF in 2008 provided $1,012,221.74 to the Feather River Recreation & Park District towards the construction of the Soccer/Multi-purpose fields at Riverbend Park.