Partners collaboratively finance loan to investigate levees in two remaining drainage districts

October 2015 - Partners collaboratively finance loan to investigate levees in two remaining drainage districts

In October of 2015, the LRC partners secure a loan for $3.5 million through the State of Oregon’s
Infrastructure Finance Authority levee subaccount of the Special Public Works Fund to complete the geotechnical investigations in MCDD and SDIC. The loan will follow a seven‐year payback period
with half of the loan having a 0 percent interest rate and the remaining half having a 1.75 percent interest rate. SDIC and MCDD also receive $50,000 grants each from the IFA. Multnomah County,
the Port of Portland, MCDD, SDIC, the cities of Portland, Troutdale, Gresham, and Fairview sign an Intergovernmental Agreement to finance the loan.