In today’s news, renewable energy audit finds $347 million in suspicious credits, Lattice Semiconductor is acquired and Terminal 1 returns to market.
1. State audit lists 165 renewable energy projects with questionable tax credits
The state conducted an audit of its Business Energy Tax Credit Program after instances of fraud were discovered in the now defunct program. Some companies exceeded their maximum eligible program costs and requested multiple credits for the same project, the Oregonian reports. Those companies include Klondike Wind Farm, SolarWorld and Pacific Ethanol. In total, the audit found $347 million in questionable credits.
2. Lattice Semiconductor sold for $1.3 billion
Portland’s largest tech company was purchased by California-based Canyon Bridge Capital, the Oregonian reports. Lattice manufactures programmable chips. Lattice certainly isn’t the first tech company to be sold recently, but the sale to an investment firm rather than another tech company is unusual. Lattice says they will operate as a stand alone subsidiary of Canyon Bridge.
3. Terminal 1 back on the market
After withdrawing support for a homeless shelter at Terminal 1, the City Council voted unanimously to sell the 14-acre property, OPB reports. Offers will be accepted through Nov. 18. Commissioner Nick Fish, who oversees property manager Bureau of Environmental Services, says he’s looking for a buyer who will create jobs.
4. Boardman dairy opponents blame land-use loophole
Lost Valley Ranch has official approval to replace the popular Boardman Tree Farm along Interstate 84 with a 30,000-cow dairy. But many — including the county commissioners — are concerned the state’s second largest dairy would drain limited groundwater. According to land-use laws, there are no issues, the Oregonian reports. Opponents argue rules for mega-dairy are too loose.
5. Longshoreman negotiate contracts to keep Port open
The International Longshore and Warehouse Union encompasses 29 ports, including Portland and Seattle. The Portland Business Journal reports negotiators hope to prevent a port slowdown similar to 2014.
6. FedEx settles Oregon drivers lawsuit
The three suits were filed more than a decade ago alleging FedEx misclassified drivers to deny them overtime pay. The suit was settled for $15.45 million, the Portland Business Journal reports.
7. Main Street models combat gentrification
Portland’s small businesses squeezed as property rates rise.
