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Thursday, November 4, 2010

Watch out, Portland taxpayers

The real estate beasts are on the prowl. They're hungry. And for sure, they want you to pay for this.

This is what the new "urban renewal" district is all about -- more tax money for Mark Edlen, Jordan Schnitzer, Jim Winkler, Bob Naito, Tom Moyer, and the other people who own you through their puppets at City Hall. Be sure to smile and tip your hat as you pay for their new cash machines.

Comments (22)

The main theme of the story was about existing tenants looking to relocate to different digs. For prestigious law firms and consulting companies the newest and be fanciest seems to be the norm. The question however is what happens to the vacant spaces they leave. Is this not part of the total. I just don’t see the real demand. Even if these tenants require a little more space than they have the demand is not going to sky rocket as the article suggests. That type of speculation is what got Moyer in trouble to begin with. It also bothers me that governmental agencies are part of that demand. Soon someone is going to figure out that there won’t be any federal bailout money coming anytime soon with a Republican congress for the states, counties and cities. I am sure some of the federal agencies will notice some cuts also. I can see the USDA and Fish and Wildlife getting some cuts.

I work across the street from the 1st and Main building mentioned in the article. I heard that once completed it was desperate for tenants and that if it had not been for the renovation of the Federal Building across the street they would have been in trouble.

"Suddenly red hot" sounds kinda smarmy for a news article. How about trying to provide some data to subtantiate that claim? Isn't there a vacant high-rise between the Justice Center and the river?

Wind power, prestigious law firms and the Federal Government seem to be looking for fine new space.

Iberdrola Renewables is growing rapidly it says. Who is paying for this? Well, we taxpayers heavily subsidize the construction of the wind machines. Then we pay a premium for "green power." I call that a double subsidy--and for part time power. Unlike dams, coal or nuclear the wind doesn't always turn the generators.

The Federal Government is looking out for itself and can just tap the taxpayers for more--or even print more money to pay for brand new, class A office space. And these are the folks who insist on helping us by controlling more and more of our daily lives.

At least I own a few shares of Iberdrola--formerly Scottish Power, Pacificorp here in Portland before that.

"Shortage of office space." Wow. That is basically a flat-out lie. Easily demonstrably false. There's a certain giant hole in the ground behind Nordstroms one could point to.

I fail to see why even one dollar of taxpayer funds should be used to subsidize these projects.

What other ways will they find to screw the common man... Grrr...

Hans Christian Anderson continues to be a good read.

How about a building moratorium, across the board, at least those with public dollars involved, and that includes office space, condos, apartments, housing, etc.?


A complete inventory and evaluation, with integrity, of what we exactly do have and what would be valid needs.

Public can no longer afford to subsidize insider's agenda.

"If you're a large user needing 50,000 square feet or more"

Yeah, those users are all over the place aren't they. Even the two they mentioned are leaving a 50,000 sqft space downtown to move to another. There is plenty of

The developers (Harsch Investment Corp. and Gerding Edlen) are looking for handouts. Like we jsut gave G-E $30M for their Vestas bldg.

Refresher from article and some excerpts:


Vestas Americas' announcement, hastily arranged by officials before reporters could break the news, came the same day the Danish parent company lost almost a quarter of its value in Copenhagen stock trading. Vestas Wind Systems cut sales forecasts because of order delays in the United States, Spain and Germany.

Even as it adds U.S. employees, the parent company plans to lay off 300 in Denmark and drop another 300 temporary workers there. In February, Vestas Americas cut 114 jobs, including 15 in Portland, testifying to the wind industry's continued volatility.

Taxpayers will shell out for the building. The state of Oregon will kick in $2.25 million. If Vestas fails to retain 400 jobs and create 100 more, the company must return $1 million to the governor's strategic reserve fund.

The City of Portland will extend an $8 million interest-free loan to Gerding Edlen, subject to approval of the Portland Development Commission board. Adams figures the city will recoup interest costs for the 15-year loan through property taxes and fees.

"But some Miller Nash lawyers are ready for a change in scenery away from the gritty Burnside strip and neighboring Old Town."

There just a block away from the biggest concentration of food carts in the city! If that's not prime Portland location I don't know what is.

I think I'd rather take my chances in the old days, when a shake-down, was a shake-down.

In this new media-friendly fascist world it is like trying to catch a venomous snake with your toes while blind-folded

Miller Nash should just wait for Sam's wonderful Burnside/Couch Couplet and all the grit will disappear.

That kind of comment will certainly hurt business fo Miller Nash from all of the Creative/Green Class of Portland.

Vestas is another scandal...
why is the local taxpayer being asked without our permission to support a failing small foreign startup at the same time that the big players like GE and Siemans are tooling up to take over the wind power market and possibly even make it feasible?
Sounds like more backroom deals to me.

Not to worry.

Kiz and all the re-elected Democrats are for change, right?

They'll get the City, State, TriMet and Metro in order.

There's a statue outside the FTC building in DC that illustrates how government is supposed to handle big business so that it remains useful yet doesn't get out of control...


... note that the man is not taking food off people's tables to feed the horse.

Frankly I'm surprised TriMet didn't buy up the old Port of Portland building...they're still headquartered down in Southeast.

(Of course, now that I said that I probably gave Neal an idea...after all there's all that money TriMet has floating around in mysterious accounts.)

MY fav thing about the Vestas project is that it includes 180 some indoor parking places in 39,000 sq ft. , NOW THAT is green. It is really a parking garage with a penthouse office , well it has a grass roof , maybe they can bring in some danish goats!
[by the by I want that 8 mil$$$ interest free loan they got...]

Maybe Vera will return for another term as mayor and help speed recovery up?

She can bring back Kohler and Hansen to pitch in.

Miller Nash wants to get away from the "gritty Burnside strip". They're already perched some 30 plus stories above it all in a glass tower that would make the Pharaohs swoon. Most of the partners probably park in the secured basement and never come closer than 10 feet of it all through the windows of their BMW's and Mercedes sedans as they descend and ascend to their West Hills mansions. I can see how some of the secretaries and support staff might not want to dodge the freak scene and unsightly piles of human excrement on the sidewalk, but something tells me that they don't have much say in the matter. What a bunch of tools.

Didn't Stoel, Rives bag on the Moyer tower and decide to stay put in the Standard Insurance building?

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