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2 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW State ethics commission will investigate Breidenthal ... Investigators still trying to determine what caused Butte Creek Mill blaze ... White City simulation house will provide training scenarios for multiple agencies ... State ethics commission will investigate Breidenthal ... Investigators still trying to determine what caused Butte Creek Mill blaze ... White City simulation house will provide training scenarios for multiple agencies ... PORTLAND Portland signs off on $88 million post office purchase Comment By The Associated Press MailTribune.com By The Associated Press Posted Jan. 14, 2016 at 3:55 PM By The Associated Press Posted Jan. 14, 2016 at 3:55 PM » Social News PORTLAND — Portland has approved a plan to purchase a 13.4-acre U.S. post office campus in the city's Pearl District for $88 million. The city's urban renewal agency approved the terms of the deal Wednesday, but it hasn't been finalized yet, reported The Oregonian. Members of the Portland Development Commission aren't happy about the possibility that they'd have to contribute more than $3.4 million in non-refundable deposits. "There's a lot of money at risk," said Commissioner Aneshka Colas-Dickson. The commission's unanimous vote, however, marks the first step in Portland's most expensive redevelopment project so far. For decades, city officials have been interested in the property but unable to make a deal for its purchase. The post office site could help link the upstart Pearl District to the downtrodden Old Town Chinatown. "We look forward to moving on this project," said board chairman Tom Kelly. "It's historic." The deal includes plans to build a new facility for the U.S. Postal Service near the airport. It would be funded by Portland's $88 million plus $69 million in federal funds. $13 million of Portland's payment would come from the Portland Housing Bureau and the rest would be from a city urban renewal district. Portland officials hope to close on a deal by August and lease the facility back to the U.S. Postal Service for up to 2 1/2 years at no cost. By The Associated Press MailTribune.com By The Associated Press Posted Jan. 14, 2016 at 3:55 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2016 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501