Deal reached for PDC to buy Right 2 Dream Too property

Deal reached for PDC to buy Right 2 Dream Too property
The Portland Development Commission has agreed to buy the property on Fourth and Burnside, which is where the Right 2 Dream Too homeless currently occupies, but certain variables exist before the sale can be finalized.

PORTLAND, Ore. – The Portland Development Commission has agreed to pay to clear out the city’s most visible homeless camp, but it may not happen right away.

The PDC has agreed to buy the property the Right 2 Dream Too homeless camp sits on for $1.5 million. The agreement sets up conditions for the sale of the property but there are some variables in how that sale might take place.

If the current owner of the property at Fourth and Burnside, Michael Wright, gets the camp to move right away then he can get all of the money right away. The PDC will pay a monthly option to keep the sale open. That money will be deducted from the final price.

Wright believes that will let him clear up any back taxes on the property quickly.

“I shouldn't have any problem doing that,” he said. “They have a 30-month option – that is about $10,000 a month on the options.
Within three months I'll have all the back taxes cleaned up – I think it's less than 30,000. And I have some money so I can pay a little bit sooner than that. Yeah, no problem.”

But the deal still requires Wright to come up with an agreement with the city to let Right 2 Dream Too move to some other location. That hasn't been decided yet, and that has been a sticking point because a site under the Lovejoy off-ramp in Northwest Portland drew criticism from nearby residents.

Wright now has an incentive to reach an agreement sooner rather than later. Once the camp is moved the PDC will close the deal and hand over all of the $1.5 million.