Details of Portland Diamond Project’s Letter of Intent Revealed

A letter of intent between the Port of Portland and a group seeking to build a Major League Baseball-caliber stadium calls for the private group to pay up to $1.5 million over two years to exclusively negotiate redevelopment of a waterfront site.  The group would then pay the Port at least $900,000 a year as they build out the property.  The property lease would have an initial term of 55 years with options for extensions.  Read more here.

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Filed under Design & Construction, Lease & Contracts, Stadium Issues

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