Portland Development Commission extends proposal deadline for Parcel

The Portland Development Commission has extended the deadline for submitting proposals for a 48,645-square-foot site in the RiverPlace neighborhood dubbed Parcel 8.

The new deadline is noon on Feb. 20.

Additionally, in Section V, Desired Development Program, Development Program Criteria, the following sentence has been stricken: If residential units are developed for rental, tax abatement may be pursued for a maximum of 15 percent of the total rental units. Renters of tax abated units must comply with the new City of Portland multi-family tax abatement program guidelines.

The sentence has been replaced with: Residential units developed for rental are an acceptable use on the property. For information about the City of Portland multi-family tax abatement program, please contact Brian Morisky at 503-823-3270.

Section V, Desired Development Program, Development Program Criteria, also has a new addition: For service-enriched housing projects (including senior housing), PDC will require 10 percent of the total units developed to be priced at or below $200,000 (excluding costs for services such as meals, transportation, health care, etc.). Purchasers of these units must also have an income (excluding net worth/assets) that is at or below 120 percent median family income. For one person, the median family income at 120 percent is $57,050, and for two people the median family income at 120 percent is $65,200.

The original deadline for submitting proposals was Jan. 30.

The minimum purchase price for the property is $3,175,000.

After all proposals are in, the PDC will organize an evaluation committee comprising stakeholders representing the North Macadam Urban Renewal District, RiverPlace residents, citizens and businesses. The PDC will also post all proposals under consideration on its Web site.

In addition, the PDC has plans for an open house with stakeholders to discuss final building design.

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