In today’s news, Mosier oil train expansion blocked, Portland to vote on public financing and Aequitas can file lawsuits to collect its own debts.
1. Union Pacific track extension denied in Wasco County
UP requested the expansion in Mosier, where an oil train derailed last summer. OPB reports Wasco County commissioners denied the proposal that had been approved by the local planning commission. The proposed track expansion was intended to reduce rail traffic delays. Union Pacific has not said if it will appeal the decision.
2. Portland council could consider public financing next month
Commissioner Amanda Fritz has been pushing for publicly funded campaigns and contribution limits, which received support at a hearing last week. Fritz says she wants to bring the proposal for a vote before year end, the Portland Tribune reports. If approved, the city would use .2% of the general fund to match candidate donations of $50 or less. That works out to between $2 and $3 million per election cycle.
3. Federal judge gives Aequitas permission to file lawsuits
When Aequitas Capital collapsed earlier this year the court appointed a receiver to sort out the investment firm’s assets. Aequitas owes approximately $600 million to investors. The receiver now has permission to file litigation against those who owe Aequitas money. The Portland Business Journal reports those debts total about $10 million.
4. Portland looks to expand streetcar
Transportation officials want to extend the South Waterfront line to Hamilton Court, the Oregonian reports. The proposal is yet another sign of the neighborhood’s popularity. In the past year, outposts of the city’s well-known foodie venues have migrated to the neighborhood. And, of course, there’s the Zidell property, soon to feature two glamorous and massive office buildings.
5. Adidas unveils first shoe made from ocean plastic
The prototype for the UltraBoost Uncaged Parley was first released last year. The shoe — 95% constructed with recycled ocean plastic — is available for purchase next week, the Portland Business Journal reports. Adidas made 7,000 pairs of the recycled shoe.
6. Portland Mayor may reverse street parking requirements
Within four months of taking office, Mayor Charlie Hales passed a rule requiring developments with more than 30 units to build off-street parking. As Hales exits office, he’s reversing that rule, Willamette Week reports. Removing this requirement will help reduce the cost of housing construction.
7. From the Magazine: Four Under Forty
