Of course, that's just the opening liar's budget for the latest Portland linch-pin. The opening liar's budget for a previous linch-pin, the PHART (Pill Hill Aerial Rapid Transit) was $15 million, which unsurprisingly blossomed into $62 million by the time the Tram was built. As has been the case with everything the City of Portland has got involved in, costs are certain to escalate dramatically of the idiocy is permitted to get started, and then it'll be the old "We can't afford to stop now" refrain for which Portland is so well-known. Portland mayor Sam Adams and other city dorks expect to be able to rent office space for more than $40 a square foot; double the rate for top-line space already available. What business would commit to something like that?
Um...well, none - so the city of Portland has agreed to move its 100-employee Bureau of Planning and Sustainability to the center. The move would cost an estimated $2.7 million to $4.5 million. Plus, rent would be $174,000 higher than at the bureau's current site the first year, and that gap would widen significantly after five years.
They also hope to get some non-profits to locate there at somewhat reduced rents - only a little more than a third higher than the rates that no-profits currently pay.
In other words, virtually all of the ultra-expensive office space proposed would be rented by taxpayers. But it'll sure make Sammo feel good.
