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

October 2015Partners 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.