PORTLAND Ore. (KPTV) - The City of Portland will freeze most hiring and overtime for the rest of the fiscal year , which started July 1, due to a “significant” funding gap, the city announced on Wednesday.

According to the city, the City Budget Office is estimating the general fund will receive about $12 million less than expected from the Business License Tax. Additionally, an “unusual” number of offices or agencies ended up spending their full budget by the end of the year, and the city noted that a “large legal settlement” also contributed to the shortfall.

FOX 12 has reached out to the city for more information about which legal settlement the city is referring to.

In a memo written by City Administrator Michael Jordan , he said that while the city does have emergency funds avail

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