Law firm landlord opposes Pierce move
The owners of One Monument Square are speaking out against the city's decision to award the building's anchor tenant, law firm Pierce Atwood, a $2.8 million tax increment financing deal to relocate to the waterfront.
Bill Finard, whose family owns the 10-story building, told Portland city councilors Monday they will seek a tax abatement if they cannot find a tenant to replace the law firm when its lease expires March 31 to mitigate their $300,000 per year property tax bill, according to the Portland Press Herald. City councilors finalized the conditions of a lease agreement Monday that will move the Dropping Springs bait company away from the law firm's new office in the Cumberland Cold Storage warehouse on Commercial Street to protect the building's waterfront views and reduce noise.
Councilor Cheryl Leeman said at Monday's meeting the TIF, approved in June, will keep Pierce Atwood and its 175 employees in Portland and help attract business to the waterfront area. The law firm had expressed plans to relocate to a new building in South Portland.
With the lease agreement finalized, Pierce Atwood is "moving forward" with its relocation, spokesman Christopher Batio told the paper. Construction work is expected to begin in a few weeks.
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