Right 2 Dream Too landowner Michael Wright is considering the Portland Development Commission's offer of $1.2 million for the homeless community's high-profile property.
But the landowner, who has been at odds with the city for years before allowing the homeless community to set up tents on the prominent street corner more than two years ago, said the number "was a little low."
Shawn Uhlman, PDC spokesman, said the $1.2 million is the figure where "negotiations will start." The city is still doing its due diligence, he said, and that may not be the final price. Other factors such as potential "environmental remediation" on site could plunge the price downward, Uhlman said.
But Uhlman added that the appraised value of the .18-acre site is "essentially the ceiling for us." Wright has more than $10,000 in unpaid property taxes on the two lots as well, a figure that would likely be carved out of any eventual payout.
Read more at OregonLive.com.