Saturday, July 10, 2004
Hotel may hold key to Lloyd housing
If the sale goes through, the nonprofit hopes to borrow $5 million from the Portland Development Commission to finance the purchase. An additional $3 million that would be needed probably would come from tax credits.
The proposed sale, however, prompted a June 23 letter to the PDC from the chairmen of the Lloyd Business Improvement District Inc., the Lloyd District Community Association and the Lloyd District Transportation Management Association castigating the development agency for the process surrounding the transaction.
It says the project “shows a blatant disregard” for the guidelines in the development strategy for the Lloyd District and the Rose Quarter.
The Rose Quarter plan, the letter says, identifies the property where the Ramada Inn is located, at 10 N. Weidler St., as “the linchpin for improving accessibility to the Lloyd District,
If the sale goes through, the nonprofit hopes to borrow $5 million from the Portland Development Commission to finance the purchase. An additional $3 million that would be needed probably would come from tax credits.
The proposed sale, however, prompted a June 23 letter to the PDC from the chairmen of the Lloyd Business Improvement District Inc., the Lloyd District Community Association and the Lloyd District Transportation Management Association castigating the development agency for the process surrounding the transaction.
It says the project “shows a blatant disregard” for the guidelines in the development strategy for the Lloyd District and the Rose Quarter.
The Rose Quarter plan, the letter says, identifies the property where the Ramada Inn is located, at 10 N. Weidler St., as “the linchpin for improving accessibility to the Lloyd District,
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