Portland leaders under pressure to re-imagine downtown as property values plummet

PORTLAND, Ore. (KATU) — Plummeting property values in downtown Portland are costing the city millions of dollars in tax revenue that would otherwise go to vital city services, as the city looks at a $92.8-million budget shortfall in the upcoming fiscal year.

The turndown in revenue is putting pressure on city leaders to re-imagine a downtown once filled with workers.

Perhaps no one is feeling the pinch like downtown restaurants and small businesses…

Story continues

TRENDING NOW

LATEST LOCAL NEWS