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The Portland Development Commission on Thursday took a big step toward a purchase of the U.S. Postal Service property in the Pearl District.

The Portland City Council is on board with a plan to spend up to $80 million to buy the 14-acre parcel that includes the Postal Service facility located at 714 N.W. Hoyt St. The PDC expects the council to next week give final approval for the financial arrangement.

The City Council’s decision 鈥減rovided us the financial resources to go forward with acquiring the downtown post office site and accomplishing some of our other objectives in the River District,鈥� said Eric Jacobson, senior project manager for the PDC.

The PDC is working out a purchase price with the Postal Service, developing plans for the Pearl District site and looking for another site to suit the federal agency.

鈥淭he design work has been moving forward almost regardless of the site,鈥� PDC spokesman Shawn Uhlman said. 鈥淭hat can happen independent of how the negotiations are going, or relocation (for the Postal Service). We can essentially plug and play. You end up having a lot of different actions happening simultaneous.鈥�

Finding a new site for the Postal Service will be no small task.

鈥淲e’re looking for an industrial parcel that meets their needs in terms of size and location requirements,鈥� Jacobson said.

Said Uhlman: 鈥淭here are not that many sites in the metro area that have that much vacant flat land that are buildable. But there are a few 鈥� a couple inside of Portland and a couple outside.鈥�

Any deal reached with the Postal Service would need to be approved by the PDC’s board. Uhlman is hoping that will happen by the end of the year.