Roy Jay, president of the African American Chamber of Commerce of Oregon and Southwest Washington, has proposed an agreement to take revenues from planned Rose Quarter development for use in a fund to support North and Northeast Portland.
The Community Benefits Agreement aims to ensure African American families in the area don't suffer like in the 1950s when their houses and businesses were leveled to make way for the Rose Quarter.
A CBA is a private contract between a developer and a community that designates benefits a community will receive from development. Generally, these benefits include local hiring, living wages for workers and environmental projects. But Jay says Portland can do better. Under his proposal, 1 percent of gross revenues from the revamped Rose Quarter, as well as a $1.99 fee for every ticket sold in the Rose Quarter, would go to a fund to support North and Northeast businesses, neighborhood groups and nonprofit organizations.
“We have not been doing our job as a community to be sure everyone is empowered,” Jay said. “This is one of the last prime pieces of real estate to be redeveloped in Northeast Portland. This is an opportunity for an entire community to financially benefit beyond a few jobs.”
Read more at the Daily Journal of Commerce.