Adidas America Inc is looking to spend $1 million for the construction of a cycle-track on the street outside their headquarters in the Overlook neighborhood of north Portland.
In return, the city of Portland Adidas and the City of Portland to give the company a $1 million System Development Charge credit. Adidas in undergoing a significant expansion at its U.S. headquarters, according to bikeportland.org.
According to the council ordinance, “The City will provide an SDC credit not exceeding $1 million in value in exchange for Adidas America, lnc.’s construction of the cycle track. This credit will reduce the amount of SDCs Adidas America, Inc. will owe the City under a building permit to develop the properties.”
