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Wednesday, February 9, 2011

The sheep have all been fleeced

If like us, you've noticed that the real estate development scams have left the City of Roses and are infiltrating the suburbs, here's further confirmation that the pool of suckers for central city shenanigans has dried up. The crown princes of Portland pork, Homer Williams and Dike Dame, have pulled out of their latest deal with the sharpies up on Pill Hill (and their real-estate-obsessed poor cousins at Portland State) because the two developers can't come up with the $10 million that they were supposed to put into it. Apparently their backing out means that the latest "linchpin" down in the failed SoWhat District will be only seven stories of worthlessness instead of eight. Go by streetcar!

Comments (12)

Whatever happened to the kid who bid on some timber leases and was arrested And charged with fraud when he couldn't pay for his bids?

Is that precedent here?

Is that what you call a "Homer Run" ?

Pardon my sarcasm, but doesn't this mean the Portland taxpayer will be expected to pick up the slack?

My money is on Grumpy's view.

Is that what you call a "Homer Run" ?

A "fly out" to Homer, Alaska?

"Apparently their backing out means" that we need to dig deep into the PDC honeypot to fund this thing!

Walsh and Homer need it, they are the only people in creation that can do these deals.

Bu there is so much stench left behind.

OHSU preaching that MLR is crucial to their expansion.

Could it be because of the $10 million TriMet is giving to their new complex?

Or that in exchange for that OHSU donated some land for MLR and TriMet inflated it's value to $15 million in order to gin up the local match requirment for the feds share?

Just listen to former Metro councilor
now OHSU's Brian Newman.


The role of transit is crucial to attracting everything and "leveraging" and "building community".

I like the literary touch, Jack. We go from
T.E. Lawrence's autobiography, "Seven Pillars of Wisdom" to Portland's "Seven Stories of
Worthlessness" and it's all part of Homer's Odyssey through the shifting sands of a toxic landfill.

Since Dames and Williams were the major "partners" with CoP/PDC on the 9 Amendments comprising the South Water Agreement, are the requirements of the Amendments being met?

Homer received several advantages that were to be paid back in the future for each of the Amendments. He's coped out on Block 49-Affordable Housing, there were other Affordable Housing requirements that were to be met by him in the Amendments too, but not performed. He's taken advantage of FAR/Height bonuses/trades-will they ever be tracked and properly implemented by PDC? Will Homer skip on Agreements on LIDs and other payments/benefits back to the taxpayers?

When a "partner" skips who's protecting the other partner, us, the taxpayers?

And when SW Moody is moved approximately 100 ft to the west giving OHSU the additional width and over 1000 ft length of property to benefit their Life Science Building , will the gained property be properly valued and compensated to the taxpayers? The additional property is equivalent to 3 city blocks, which in SoWhat has a value of $8 to $10 Million. With TriMets inflated $15 Million given to OHSU as Ben pointed out, then they could properly compensate for this land gain.

And when SW Moody is moved...will the gained property be properly valued and compensated to the taxpayers?

That sounds like the scam that Metro/TriMet/Lake Oswego is trying to pull off with their little streetcar project to L.O., claiming the value of the "Willamette Shores Trolley" line will cover the local match for the route.

Never mind that the property has a zero actual value - if the property is not used for a railroad, the land reverts back to the adjoining property owner at no cost to that adjoining owner; and no railroad in their right mind would buy up the right-of-way for a rail purpose. The only value of the line is to the Metro/TriMet/L.O. cabal to build a streetcar on.

I'm liking the exercise in full-on propaganda that is the Tram. For example, this article:


has this choice quote:

“All of these cities' systems have unique features that set them apart. Portland's public transit provides riders with a variety of travel options, including buses, light rail, commuter rail, streetcars, and an aerial tram.

That's right: the "Tram" is considered a key part of the public transit system. I'd laugh if I weren't crying.

With Sam Miller now taking over PBOT I guess we will soon be adding to Portland's "variety of travel options" a skate board rope tow to Pill Hill and Council Crest.

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