The Portland Development Commission is considering buying the Shilo Inn in the Portland, Ore., for $2.8 million.
The 44-room hotel is in the Oregon Convention Center Urban Renewal Area. If approved by the PDC Board of Commissioners, the price of the property will be set at no more than $2.8 million.
The hotel will continue to be operated by Shilo Management Corporation, but a new management agreement will be formed with the PDC. Holy Rosary Church owns the land the hotel is located on, and a ground lease will need to be renegotiated with the church should the deal go through.