Plus: Portland's 'average' millionaire homeowner.
May 9, 2024 6AM-Top banner logo-small.png


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Clean energy tax dollars to the rescue
Portland Mayor Ted Wheeler signs a document sitting at a large desk with a small Portland flag on it.
The mayor’s proposed budget fully covers the costs of public safety services like police, fire, and 911. | Photo via City of Portland
Mayor Ted Wheeler has released an $8.2 billion proposed budget for the 2024-2025 fiscal year — $1 billion more than last year’s — amid anticipated shortfall struggles exacerbated by high inflation rates. The money will fund services provided by city bureaus and approx. 7,500 employees.

The proposed budget relies heavily upon revenue from the voter-approved Portland Clean Energy Fund to supplement the city’s general fund by about $820 million and finance projects like transitioning the city’s vehicle fleet from gas to electric.

Here’s a brief overview of some of the budget’s priorities.

Small business relief

Prosper Portland, the city’s economic development agency, would receive $700,000 under Wheeler’s plan to create a small business office. This would consolidate the agency’s programs and finance three new jobs whose purpose would be connecting business owners with support services and resources. The budget also allocates $500,000 for Prosper Portland to use in supporting businesses with one-time repairs for damages and vandalism.

Streamlining permits

Wheeler’s budget includes $4.5 million to support the city’s plan to create a single office in charge of handling permitting across all bureaus. The money would fund the process and necessary technology improvements needed to launch the office.

Street Response

Portland Street Response, a non-police intervention program that responds to behavioral health and mental health calls, is slated to receive $7.4 million. Wheeler wants the program, which was previously funded by grant money and operated out of Portland Fire & Rescue, to be moved to the Office of Public Safety.

Community members can comment on the budget proposal at a public hearing Thursday, May 9.
6AM City Giving Campaign
Thursday, May 9
  • Best of Portland Anniversary Cruises | Thursday, May 9 + Thursday, May 23 | 5:30-8:30 p.m. | Salmon Springs Dock, 1010 SW Naito Pkwy., Portland | $30 | Celebrate Portland Spirit’s 30th anniversary with a 1990s-themed sunset cruise showcasing local food + drink purveyors and familiar faces, like The Unipiper and Una the Mermaid.
  • Secret Roller Disco | Thursday, May 9 | 7-9 p.m. | Irvington Elementary School, 1320 NE Brazee St., Portland | Free | Bring your own skates (or rent gear on site) at this “Earth, Wind, and Fire"-themed edition of the weekly, not-so-secret event.
Friday, May 10
  • Spring Revels: “At the Root” | Friday, May 10-Sunday, May 12 | Times vary | Brunish Theatre, 1111 SW Broadway, Portland | $10-$35 | See the world premiere of this series of short vignettes “celebrating the bonds women build through the ritual of styling one another’s hair.”
  • Pearl Jam - “Dark Matter World Tour” | Friday, May 10 | 7:30 p.m. | Moda Center, 1 N. Center Court St., Portland | $183-$921 | “Just Breathe” and enjoy this show from the Seattle rock band born in the 1990s.
Saturday, May 11
  • Hippie Chick Half Marathon, Quarter Marathon & 5K | Saturday, May 11 | 8 a.m.-12:30 p.m. | Champoeg State Park Riverside Day Use Area, St. Paul | $15-$129 | Grab your mom, your sister, or a friend this Mother’s Day weekend and lace up those running shoes for “the original all-women’s race.”
Sunday, May 12
  • Wood & Other Wonders Market | Sunday, May 12-Sunday, Oct. 13 | 10 a.m.-4 p.m. | Urbanite, 1005 SE Grand Ave., Portland | Free | Meet baby goats + local artisans at this community market featuring demonstrations and interactive activities (think: blacksmithing, weaving, screen printing, and more).
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News Notes
  • Family-owned Mexican food truck Mole Mole has opened a second location. The new outpost in the Prost! Marketplace cart pod on North Mississippi Avenue has a similar menu, but soups have been nixed in favor of expanded vegan offerings. Try the three enchilada special showcasing three different moles. (Portland Monthly)
  • High schools within the Portland Public Schools district can now decide whether to offer Junior Reserve Officers’ Training Corps (JROTC) programs. PPS’ Board of Education voted 4-3 this week to allow each school the freedom to make the choice independently, 30 years after initially banning military recruitment on campuses. (KGW)
  • A new housing development will add 65 single-family homes in Washington County by mid-2027. The Beaverton School District sold the property at 4403 NW 174th Ave. to Noyes Development Co. for $10 million. Homes will be 2,600-4,500 sqft in size and zero-energy ready. (Portland Business Journal)
  • Bambuza Vietnam Kitchen’s South Waterfront location will close next week. The restaurant, which has been in business at 3682 S. Bond Ave. since 2008, will hold a closing celebration Monday, May 13, 4-6:30 p.m. Parent company Bambuza Hospitality is actively looking for a new space downtown. (Portland Business Journal)
  • Jane and Ed Kim lead busy lives in their respective fields, but they always make time to share meals together — and with their 1 million TikTok, Instagram, and Facebook followers. The Portland-based mother-son duo run “The Korean Mama,” a social media venture in which they document their eating experiences. (The Oregonian/Oregon Live)
  • Live Nation’s Concert Week is going on now through Tuesday, May 14, which can only mean one thing — $25 concert tickets. Specially priced concerts in Portland include Kings of Leon, Sum 41, and Weezer at Moda Center.
  • Scoot Henderson is heading to the NBA Draft Lottery this Sunday — will he be the good luck charm Rip City needs? Get the biggest stories every day from the local Trail Blazers experts with Locked On’s daily podcasts.
  • $2,500. That’s how much we’re looking to raise to support our staff and mission here at PDXtoday — and our fundraising ends tomorrow. If you love the free community resource you’re reading right now (we sure do), support us today with a one-time donation. See how close we are to our goal.
Real Estate
💰 Baby boomers lock down costly cribs
The Portland city skyline on a partially cloudy day. The Ritz-Carlton tower rises above other downtown buildings.
The Ritz-Carlton’s private residences (located in the tower in the right of this photo) are among Portland’s priciest digs. | Photo by @datguy_eddy
The number of US households earning at least $1 million more than quadrupled between 2017 and 2022, according to a new study from Point2. While most millionaire homeowners belong to Generation X on the national scale, baby boomers run the millionaire homeowner’s club here in the Portland metro area.

Take a look at the local numbers broken down by generation:
  • 36.7% of millionaire homeowners are baby boomers
  • 30.1% belong to Gen X
  • 14.2% are millennials
  • 14% are Gen Z (“mostly due to young adults living with wealthy parents”)

Who are they?

The study found that the “average” millionaire homeowner in the Portland-Vancouver-Hillsboro metro is likely a physician, real estate broker, or sales agent. They own a $1.3 million, five-bedroom home, and their garage accommodates around three cars.

Nationally, the “typical” millionaire homeowner is a 50-year-old chief executive or physician living in San Francisco or New York. Their home is, on paper, similar to the Portland profile — but costs a bit more at $1.8 million.
The Buy
LED signs. Are you looking for a fun way to brighten up your home? Category6 LED has iconic neon signs scaled down to a size perfect for your at-home bar or game room.
Which mode of transportation do you use most?
A blue and white TriMet bus passes several people riding bikes in a pedestrian lane on a bridge with steel supports and arches.

Forbes ranked Portland the 10th worst city to drive in because of the city’s high rate of car thefts, rainy days, and snail-paced rush hour speeds.


Photo via PBOT

  • 54.3% said personal vehicle
  • 24.7% said they walk
  • 16% said public transit
  • 4.9% said bike
The Wrap
Cambrie Juarez headshot Today’s edition by:
From the editor
Twenty years ago today, the first condor chick hatched at the Oregon Zoo’s Jonsson Center for Wildlife Conservation. The raptor — named Kun-Wac-Shun — was released at Pinnacles National Park in 2005 and has been a cornerstone in the work to bring the species back from the brink of extinction. Happy birthday, you magnificent creature.
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