Oregon Gov. John Kitzhaber, Portland Mayor Vera Katz, Port ofPortland Executive Director Bill Wyatt, Toyota AdministrativeServices Group Vice President Bob Pitts, and St. Johns NeighborhoodAssociation Chair Robin Plance will lead off the event shortlybefore 11 a.m. and speak about the 200 family wage jobs that wereretained and the host of efficiency- and environmental-related siteenhancements that are part of the project. The speeches will befollowed by a tour of the site and a demonstration of Toyota's autoprocessing operation.

Toyota, which has processed autos at the port since the 1970s,currently leases around 104 acres; 65 acres down by the river forparking cars and another 40 acres about a mile up a hill behindTerminal 4 that holds aging metal buildings used for processing thecars before shipment to both regional and national dealerships.

Under the new deal, Toyota will consolidate operations onto 82acres by the river at Terminal 4 and spend $30 million developingsix new buildings with greater energy efficiency than the currentones. Toyota will lease the site for at least 15 years at a baserate of $1.4 million that would be adjusted each year according toCPI-U. Toyota's rent payments under the previous lease agreementtotaled about $1 million annually.

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