Footwear and apparel company Adidas America Inc is poised to spend $1 million for the construction of a cycle-track on the street outside its headquarters in the Overlook neighborhood of north Portland, Ore.
The City Council was expected to adopt an ordinance (PDF) that will authorize an agreement between Adidas and the City of Portland to give the company a $1 million System Development Charge credit. Adidas in in the midst of a major expansion that will build three new buildings and nearly double the number of employees at the location.
According to the council ordinance, “The City will provide an SDC credit not exceeding $1 million in value in exchange for Adidas America, lnc.’s construction of the cycle track. This credit will reduce the amount of SDCs Adidas America, Inc. will owe the City under a building permit to develop the properties.”
This project is part of the the Killingsworth/Interstate Connected Centers project, which has already been approved by council via the Transportation SDC project list.
