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Bitcoin, tech stocks rip, Lululemon drops sharply in after hours trading on lower earnings, Forest service to close Portland office, affordable housing group Home Forward to increase cost for tenants, Idaho battling a rat problem, mortgage rates hit 6.9%, auto loan delinquencies hit record high, diesel hits record high, Anaconda, MT gets new newspaper.

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US diesel prices hit record high as conflicts intensify supply crunch (Reuters)

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US Forest Service releases long-awaited restructuring plan (OPB)

“Labs in Seattle and Wenatchee that were previously identified for closure were spared in the latest plan. The regional headquarters in Portland will be closed.

The U.S. Forest Service announced the plan to restructure in March, when it said it was evaluating more than 50 research and development facilities for potential closure. Today, it announced it will shutter nearly two dozen facilities.

In the Pacific Northwest, at least three locations were being evaluated for closure, of those three, one will be closed: the Pacific Northwest regional headquarters in Portland.

When the plan was first released, researchers were concerned about the potential closure of labs in Seattle and Wenatchee. The Seattle smoke lab forecasts where wildfire smoke is expected to drift and how it could impact human health. Research out of Wenatchee has informed more than a decade of forest management policy.

“Our lease that we have for our regional office in Portland and for the Pacific Northwest Research Station is a relatively expensive lease,” French said. “We have basically negotiated other spaces for our employees within the local commuting area, that will cut those costs by two thirds.”

The U.S. Forest Service defines commuting distance as 49 miles. If a commute exceeds that amount, the agency could need to pay its employees relocation costs.

Under the new plan, some of those currently working out of Portland will be commuting to a new state office in Salem, about 47 miles away.

“That is quite a commute for some folks if they were working in downtown Portland,” French said. “But it does keep them from having to move their families.”

Moving the Portland regional headquarters to Salem is part of the agency’s national plan of dissolving all regional offices in favor of state offices. It is also moving its headquarters from Washington D.C. to Salt Lake City.”

Portland City Council approves resolution on future of city-owned properties near Moda Center (KGW)

“PORTLAND, Ore. — The Portland City Council unanimously approved a resolution Thursday afternoon that lays the groupwork for the future redevelopment of 10 city-owned pieces of property near the Moda Center and Veterans Memorial Coliseum and positions Albina Vision Trust (AVT) as the likely partner for the project.

The planned redevelopment is separate from the deal currently being negotiated to renovate the Moda Center, but is timed to coincide with it; the resolution directs the city administrator to begin a process for selecting a new development partner for the properties once a new long-term lease is in place for the Portland Trail Blazers at the Moda Center.

The resolution also directs the city to begin negotiations with Albina Vision Trust about potentially taking on that role, though it doesn't prohibit the city from considering other partners. The resolution states that any development partner should have a community-focused mission, experience with real estate development and the ability to bring private or philanthropic investment to the table. 

Councilor Mitch Green also sought assurance during the meeting from City Administrator Raymond Lee that the city would still be committed to redeveloping the area and pursuing a partnership with AVT even if negotiations with the Blazers were to fall through, which Lee confirmed.

"We know whatever happens with Moda can change some of the dynamics of the money that's associated with the site that'll be developed there, but we have a commitment to do that with AVT," Lee said.

The specific redevelopment plan will still need to be established in the future — the intention is to get a partner on board first before envisioning exactly how to redevelop the properties. Any final agreements about the scope of the project will need to come back to the city council for consideration.

Albina Vision Trust executive director Winta Yohannes spoke at Thursday's council meeting, recapping the group's prior work and calling AVT "the obvious partner for the city" for the redevelopment.”

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