Morning Roundup

Photo credit: Portland Business Journal

Lithia Motors buys Terminal 1, Legislature aims to assess groundwater supply and PGE scounts Boardman gas plant site.

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1. Terminal 1 sold to Lithia Motors

The Bureau of Environmental Services chose Medford’s Lithia Motors as buyer for the 14-acre property, the Portland Business Journal reports. Lithia’s final offer was for $12.5 million. When bids were first submitted, Lithia proposed paying $10 million. The highest bidder out of seven at the time was Tandem Development Corp. with $10.5 million. Lithia also asked the Portlandia statue be relocated to the site. It’s unknown at this time if that will occur.

2. Beaverton rep files three bills to study groundwater

Rep. Ken Helm is pushing for a close look at Oregon’s groundwater supplies and a change to the permitting process, the Oregonian reports. An investigation earlier this year by the Oregonian found the state issues groundwater permits to nearly all applicants, without knowing how much water is actually available. Gov. Kate Brown also doubled the amount allocated to studying Oregon’s groundwater in the 2017-2019 budget. However, the Oregon Water Resources Department says the $1.8 million funding isn’t nearly enough — and claims between $45 and $75 million is needed.

3. Portland General Electric modifies permit for Boardman site

PGE is now looking to site a 330-megawatt simple-cycle combustion turbine at its Carty Generating Station, the Portland Business Journal reports. Environmentalists are already ready to fight the additional gas plant as the first comment period opens. 

4. The “Portlandia” effect spreads to retailers

The Portland brand allows small businesses and large alike to test new ideas, the Oregonian reports. This “Portlandia” effect is even being utilized by large brands like Whole Foods and Amazon. Companies also use the Portland market to search for new trends to take nationwide. The PDX doughut ecosystem we reported on last week might be considered a classic example of this Portlandia effect.

5. Union Pacific rail expansion appeal goes before Columbia River Gorge Commission

The proposal to expand rail service in Mosier was rejected by the Wasco County Board of Commissioners last month. The commission will review the appeal, which could take six months, the Bend Bulletin reports.

6. Snow could hinder holiday travel

Between six and 12 inches are expected in the Cascade Mountain passes, and at least one to two inches in the Columbia River Gorge, the Statesman Journal reports. The National Weather Service is advising drivers to plan for extra travel time.

7. OB original blog: What’s driving post-election market fever?

The post-election Trump rally reflects “animal spirits,” in which instinct and emotion drive feelings about the economy.