Time for a change
Oregon cities (and counties and Metro's) need to get out of the real estate development business.
| Posted at 10:37 AM | Permalink |
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Comments (3)
They should get out of it, but they won't. Not as long as they can squeeze a little more out of that tired Buffalo for Homer and company.
Posted by Dave Lister | June 17, 2008 2:18 PM
C'mon $300M a year for PDC it's money well-spent. Otherwise this town would be mothing besides brownfields.
Think of all those neighborhoods PDC built, NW 23rd, Hawthorne, NE ALberta, N Mississippi, NE 28th, oops, sorry I guess they didn't do anything there did they?
Posted by Steve | June 17, 2008 9:13 PM
Well, actually they invested tons of money in NE Alberta and N Mississippi. I'd guess at least 60% of the revitalized buildings on Mississippi had PDC and City money, and 25-30% of NE Alberta.
But I agree, PDC has not shown it has any special expertise in development. They can buy land and they can sit on land, and they can propose projects that have no financial viability, but it is rare that they actually get something built.
Some day they will have to realize you can't meet every goal with every project and maybe getting back to its economic development roots is a good idea...remember that you don't have UR money if there isn't any new taxable development. The City Council seems to forget about that.
Posted by PDX Pessimist | June 20, 2008 7:41 AM