The Portland Development Commission will consider a deal on Wednesday to buy the site next to the Chinatown Gate occupied by a homeless encampment for $1.2 million.

The deal provides up to 30 months to relocate the Right to Dream Too homeless camp on the property.

Under terms of the deal, PDC would pay Michael Wright and other owners $10,000 a month in the interim, for a possible city expenditure of $1.5 million.

The 7,762-square-foot parcel is located on the northeast corner of West Burnside and Northwest Fourth Avenue.

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