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This page contains a single entry from the blog posted on May 12, 2010 1:30 PM. The previous post in this blog was The great recession: Maybe it isn't all bad. The next post in this blog is Portland's collective nervous breakdown worsens. Many more can be found on the main index page or by looking through the archives.

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Wednesday, May 12, 2010

PDC moving to Moyer tower at $184K a month, source says

Among the items to be handled at this afternoon's Portland Development Commission meeting are a closed executive session, followed by a vote, authorizing the agency's management to go ahead and "negotiate" a new lease for its office space. The report from one source this afternoon is that the lease is going to be in the mothballed office tower currently (not) being built by indicted real estate mogul Tom Moyer -- no surprise there, Mayor Creepy has been carrying his water on this for weeks -- and that the rent is going to be $184,000 a month.

It's the last item on the agenda. I love that they're taking "public comment" immediately before voting. The public doesn't even know what's being proposed until after the executive session; then it gets a few minutes to think over whatever's been announced and comment; and then the board votes. Sometimes some of the board members read a little speech that shows that the decision was wired long before meeting day, but even without that, you know the fix is in at the PDC. Because it always is.

UPDATE, 9:30 p.m.: Surprise, surprise! The PDC is not moving. Our source was dead wrong.

Comments (15)

I'm convinced that Portland, like Vallejo, California, will become a nationally known example of what happens when you give a bunch of unskilled bureaucrats a seemingly unlimited supply of cash.

Portland voters had better wake up to the fact that Adams, the entire city council, and the folks at PDC and Metro don't give a shiny crap about taxpayers, creating jobs and long term economic viability and stability of the region.

This stuff just gets crazier and crazier, and it won't end well.

Better sell some more bonds.

Jack, at this same PDC Commission meeting at 4:00PM today, they plan on confirming Adam's theft from SoWhat of $20 Million for the Milwaukie Lightrail. Sure, they'll allow a little public input and ignore the letter that the SoWhat URAC wrote in opposition to the theft. Transparency in Portland is not a reality.

To add fuel to the political fire of Sam's firing of Sizer and Saltsman, his budget priorities seem to be beyond the boiling point. $3 Million is needed to keep the police force intact. An easy solution is to postpone or abandon Milwaukie Lightrail and apply all the TIF and Transportation Service Development Fees of $20 Million to help out the police.

There's another solution too. Sam has proposed making up the $10 Million dollar difference of the total $30M of Portland's contribution to MLR by taking $3.22M in parking revenue, $5M in a new LID or TSDC around PSU, and taking $1.78M from the citywide TSDC. Why not just take the $3.22M of parking revenue and give it to the police budget?

It's all about Priorities. Sam is not in tune with the majority of people in Portland .

We are being sucked into the same myth that homeowners were when they agreed to mortgages way beyond their means. They gave up on ever 'owning' anything but just counting on things always going up and only having to be able to "make payments". Neither of those things proved to be true especially if they were laid-off.

So, just issue more bonds, fees like our water/sewer bills double and the interest on the debt is something that we never see unless we look for it. It will be sucking away an enormous amount within a few years....$200 million/year with interest just for the borrowed money for things we didn't really think we needed (i.e. it wasn't our idea). If only Potter tried for a 2nd term. I really miss him now.

Wow. No one could have seen that coming.

And let me guess - Moyer gets a check today for 6 or 7 years rent in advance?

I think they had to ink the deal now, before Moyer gets convicted. Something about the city not being able to enter into contracts with a felon...

Maybe the plan is for the PDC to relocate to the Cirque du Soleil tent when they leave for their new gig?

C'mon, it doesn't cost any more to hope for the best case scenario.

(At least I didn't suggest they'd move to Dignity Village...naah, the current residents do have standards of who they choose to live next door to.)

"Moyer gets a check today for 6 or 7 years rent in advance?"

I bet you're exactly right, Ranz.

Can't they buy an existing building for the 2.2 mill it will cost them to rent for one year (if that 184K per month figure is right)?

Seriously??? $2.2 million for RENT?

Why pay rent when half the buildings downtown are vacant? I wonder if those other landlords would see some economic benefit taking a significant amount of rent, but still far less than $184k a month? I heard Moyer is already filthy stinking rich.

The City That (gets) Work(ed over) does it again.

Mike...it is the tax paying citizens of the city who are getting worked over!

It was a done deal months ago.
Now will "The Don" return?

Fiduciary duty - now who in the hell is minding that are for the COP? Whoever signed this deal or whoever approves it is so guilty of theft of honest services that....... well... the US DOJ will continue to turn a blind eye. Wonder what skeletons someone in City Hall knows about in the local US Attorney's office?

The city will continue declining, the PDC will have to lay off more and reduce their operation leaving them in no need of the space but stuck wiht the lease agreement.

What a bunch of stupid jerks running things.

Hmmmm..... There is one option that no one has tried but that might just STOP THE INSANITY..... a ballot initiative to disband the current PDC and to make all future expenditures over $100K on PDC like activities be referred to the voters and require a 2/3 majority to pass. That would stop a whole lot of B.S.


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