Port Commission Approves Two Land Sales

PORTLAND-Port of Portland commissioners this week approved two land sales, one to Mt. Hood Chemical Corp. and another to McCall Oil and Chemical Corp.

McCall Oil has leased the 18 acres of land it is buying since 1974 and owns the improvements on the property, which it uses to support an asphalt manufacturing operation. The property is located in the 5400 block of Front Avenue. The agreed upon sale price is $4.64 per sf.

As part of the deal, McCall Oil will sign an environmental compliance and indemnity agreement, absolving the port of any financial responsibility with regard to contamination on the property, and put up a $1.5-million trust deed to ensure the property is cleaned up after the sale closes. “Once we let go, we need to make sure this thing doesn’t continue to follow us,” one port source tells GlobeSt.com.