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This page contains a single entry from the blog posted on November 23, 2011 10:02 AM. The previous post in this blog was A lesson about to be learned the hard way. The next post in this blog is How much insider trading do these guys do?. Many more can be found on the main index page or by looking through the archives.

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Wednesday, November 23, 2011

A trial balloon falls to earth

That proposed 15-story Pearl District apartment bunker that we wrote about the other day has been killed. That was quick -- at last report, the developers were planning to meet with city officials to see what kind of taxpayer handouts were available if the project would "pencil out." Guess they got the word that the deal would have to rise or fall on its own merit. Nobody does business within Portland city limits without a handout any more, and so that was the end of that.

Comments (9)

Guess they got the word that the deal would have to rise or fall on its own merit.

Are they now telling developers that their projects have to stand on their own? Or was it simply that these particular developers were not on the short list of favoreds?

Nobody can "pencil out" a project that size without a subsidy. The city fees and SDC's have more than doubled during the recession -- to $15k per dwelling unit.

Maybe jacking up fees is having the unintended consequence of choking off development, which isn't necessarily a bad thing. Who needs more bunkers in the pearl anyway?

It sounds pretty final, but this could still be a bluff to get the PDC to be more generous.

Was it Gresham who put a moratorium on development fees this year? Maybe the developers ought to see if their project works in East County. Or maybe the Don would like it if the project appealed to "educated" residents, and they could move the project to Beaverton.

And down in Oregon City, the development and business community are funding a recall of an OC commisioner who dared question an $18 million subsidy for a shopping center. Fortunately, the folks in unincorporated Clackamas County have some brains; apparently the developers must think OC residents are rubes.

Have they really run out of money as much as they like to give, there is no more?
They need every dollar there is now for that MLR!
_____________________

Notice of December 13, 2011 Public Hearing - Planning and Sustainability Commission
(Rescheduled from 10/25/11)
Tuesday, Dec. 13th - 3:00pm*
1900 SW Fourth Avenue, 2nd floor, Rm. 2500A
* call 503-823-7700 one week before for scheduled time of this agenda item.
Conform the City of Portland's Transportation System Plan to the Portland-Milwaukie Light Rail Land Use Final Order
http://www.portlandonline.com/transportation/index.cfm?c=52495&a=365026
_______________________
Maybe others can get the info, when I checked link, item could not be found.

Maybe it has been cancelled again.

This is one of many meetings.
It would be interesting to have the numbers of how many meetings there are in a month in this city, and then compared to other cities?
or in a year?

We do need to keep an eye on city decisions especially during the holidays.

Clinamen,

Yes. The city of LO moved the date of public hearings for The Foothills Development Framework Plan at the last minute to a week earlier than originally scheduled. I assume some people won't get the message and there will be fewer negative testimonies on the new night. The in-crowd (chamber) will all be there no matter what the date or time. Kind of slimy if you ask me. So why should Portland act more responsibly?

So why should Portland act more responsibly?

As evidenced, they don't...
they may have set the playbook for those who are operating now in LO and other areas.

I hope someone on here has the data on number of meetings.
Sometimes I wonder if there aren't waaaaay too many,
creating chaos and confusion, in hopes that the critical ones will have less attendance.

"Nobody does business within Portland city limits without a handout"

That's not quite accurate, Bob Ball and a couple of others aren't on Sam's XMAS list and he is still trying to develop here (consiering the BS he has to plow thru, god knows why).

My gut is that Simpson was looking for a fat wet kiss from CoP/PDC though.


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