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Posted on: December 21, 2020

City Issues Reports on Housing, Economic Development & Marine Economy

COUNCIL NEWS

The Portland City Council received several reports during its December 21, 2020 Council meeting. Related to the City’s housing efforts, marine and waterfront economy, and economic development achievements. 

The former Housing Committee will submit its 2020 Annual Report, which reflects the Committee’s work to address the Council’s housing goal and the Committee’s work plan priorities. It has been a standing practice to forward the annual year end Housing Committee report to the Council. The Housing Committee worked closely with the Economic Development Committee on investment in five public-private partnerships that will renovate and or create 293 units of housing affordable to a broad spectrum of income levels. The Committee also initiated and supported the sale of city-owned property to support the creation of over 300 affordable housing units throughout the city. Going forward, the report will be issued as part of the combined Housing & Economic Development Committee. 

The Council will also receive the assessment report of Portland’s waterfront and marine economy. The evaluation was conducted by economic consultants AECOM and Rachel Bouvier Consulting between February and April 2020. The assessment estimated the contributions of both marine-related commerce and non-marine businesses that benefit from the waterfront. It was determined that the Portland waterfront supports approximately 7,700 jobs and generates $313 million in labor income, $417 million in GDP (value added) and more than $800 million in economic output. 

From that total, marine commerce generates over $650 million in revenue, supporting 2,250 jobs. Major contributors to the marine totals are generated from businesses involved in Marine Transportation & Port Services and Seafood Manufacturing & Wholesale.

The former Economic Development Committee is submitting its accomplishments for calendar year 2020. It has been a standing practice to forward the annual year end Economic Development Committee report to the Council. Committee 2020 accomplishment highlights include recommending approval on five affordable housing public-private partnerships, which include redevelopment of 100 rental units and new construction of 193 residential units. Additionally, the Committee oversaw the sale of City-owned property to support new construction of over 300 affordable rentals and home ownership units. Going forward, the report will be issued as part of the combined Housing & Economic Development Committee. 


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