Friday, August 5, 2011

Just in time for the weekend - PDC writes off $9.6 million

Portland's redevelopment agency writes off $9.6 million in loans since 2000. See records of who's who. Not surprising - Judy Shiprack skated. Nor is the Lu San Chinese Garden a surprise defaulter. It has been heavily subsidized since its inception. In both Shiprack - Old Town Lofts - and the Garden the loans were only part of the city's investment. It is hard to argue that Shiprack should get a pass here. See an Oregonian article on another skater Caplan Landlord.