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Council approves discounted sale of Portland Technology Park parcel amid debate over price and restrictions
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Summary
Council approved a $200,000 purchase-and-sale agreement for Parcel 1 of the Portland Technology Park despite public concerns that the city marketed the land at $400,000 and is selling at a large discount; staff cited grant restrictions and current market conditions.
The Portland City Council approved a purchase-and-sale agreement to sell Parcel 1 of Portland Technology Park to a private buyer for $200,000 after public comment and council discussion about price, grant restrictions and long‑term goals for the site.
Greg Watson, director of housing and economic development, said the property has been marketed at a below‑market rate to spur development and that a 2009 Economic Development Administration (EDA) grant imposes restrictions that limit what can be built on the site for roughly three years. "The combination of those grant restrictions and the current zoning are factors that limit what a buyer might propose and the price they are willing to pay right now," Watson said.
Public commenters urged caution. One resident noted the city previously marketed the parcel at $400,000 and questioned why the sale price is $200,000; another asked for a clearer public package showing the buyer’s development plans. "We really need to think deeply about this — we may be giving up prime land," one speaker said.
Developers and some councilors supported the sale as an opportunity to activate a long‑idle property, bring jobs and increase tax base. Todd Goldenfarb, managing director of Mile Marker Investments and the Portland Music Hall developer, described prior site‑planning work and warned against retroactive zoning changes that would target projects after plans are submitted.
Council debate touched on fiscal responsibility and economic strategy. Councilor Pelletier voted against the sale, calling the deal "too good" and urging patience to protect long‑term city assets; others said the discount approach is intentional to attract investment given current market conditions and federal grant limits.
The measure passed on a roll call vote split roughly 5–4 (yes votes from Councilors Grant, Sykes, Ali, McNevich and the mayor; no votes from Councilors Fournier, Pelletier, Bullock and Phillips). Staff said the EDA restrictions likely lift in about three years, after which the city could pursue rezoning or different uses.
