Development agreement released

The former Sheller-Globe south property is again in the process of being sold.

Portland Board of Works and Chad Fifer agreed to a mutual release from their five-year development agreement and waived its option to buy the property back from Fifer.

City attorney Wes Schemenaur explained that Fifer plans to sell the property at 510 S. Bridge St., Portland. In order to do so, Fifer and the board of works needed to take several steps.

In October 2024, the board of works approved a development agreement with Fifer for an economic development income tax (EDIT) loan to help with improvements at the property. It worked in conjunction with a $309,372 partially forgivable EDIT loan that was approved by Portland City Council. The loan would be 75% forgiven if Fifer met certain criteria, including completing construction and hiring at least one new employee within one year and being fully operational within three years. The loan had a payback period of eight years, with no payments or interest for the first three years.

At the time, Fifer planned for his company, Fifer Services, to install a sawmill in the north building on the property, using loan funds to install new walls, doors and insulation. He hoped to rent the remainder of the property to other businesses and to eventually manufacture furniture at the site. 

In order to sell the building, Fifer paid back the $53,932 he had drawn down from the EDIT loan so far. Board of works members Jerry Leonhard, Steve McIntosh and Mayor Jeff Westlake approved releasing Fifer from the development agreement and waiving the city’s buyback option. Both city officials and Fifer signed the agreement during the meeting.

Fifer said he plans to sell the property to Patriot Dumpsters LLC, which has already been using part of the property. He hopes to have an agreement with the company to allow Fifer Services to continue to use part of the property for his tree business. Fifer said plans for the sawmill are on hold.

The City of Portland had owned the former industrial site since 2014 and had attempted to sell it multiple times, with previous sales falling through. In September 2022, the city’s board of works approved the sale to Fifer. A negotiation process followed — the sale stipulated that the city would retain responsibility for any existing environmental issues, but that any new issues that might surface would be the responsibility of the property owner — with the sale completed in early 2024.