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Committee backs sale of Lot 1 at Portland Technology Park and sends recommendation to council

City of Portland Housing and Economic Development Committee · February 3, 2026

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Summary

Staff presented a draft purchase-and-sale agreement for Lot 1 at Portland Technology Park (about 3.5 acres on Rand Road). After discussion of site constraints, including utilities and soil conditions, the committee voted to recommend approval to the full council.

The committee reviewed a draft purchase-and-sale agreement for Lot Number 1 at Portland Technology Park, a roughly 3.5-acre parcel with frontage on Rand Road, and voted to recommend that the full city council consider the transaction.

Director Greg Watson said staff had drafted the agreement after direction at a previous meeting and noted the property presents challenges — including required utility extension and soil conditions that will necessitate additional foundation work and pilings — that factor into the proposed below‑market price. Watson said the buyer would be responsible for infrastructure costs and site remediation associated with making the parcel build-ready.

Councilors asked clarifying questions about net proceeds and valuation; Watson said the fiscal note estimated net proceeds in the range of about $200,000, after accounting for site preparation and infrastructure obligations. The committee moved and voted to recommend the sale to the full council.

Next steps: staff will forward the draft agreement and committee recommendation to the city council for final approval; any final sale will require council authorization and completion of the standard closing and permitting steps.