Prosper Portland Executive Director Cornell Wesley approved three contracts totaling as much as $456,000 with two men he knew from Morehouse College, according to records obtained through public-records requests. The agency had paid about $264,000 on the contracts by late September, and two remained active. The contracts went to Indianapolis law firm Ice Miller, Chicago-based Synergy Credit Union Consulting and Cincinnati-based law firm Taft. Wesley signed the first two, and signed the Taft agreement with attorney Jarrod Loadholt, who had moved from Ice Miller to Taft. The agency has not disclosed the scope of work for either law firm contract, citing attorney-client privilege. Prosper Portland says Wesley followed agency policies and state law, and that the contracts raise no ethical concerns. The agency says Wesley had previously worked with the people or firms and acknowledged those relationships during the process. It says no conflict of interest existed that required a formal disclosure. Wesley, who became executive director in August 2025 after serving as Birmingham, Alabama’s chief economic development officer, said he began reviewing Prosper’s programs and sought people with experience in other states to recommend improvements. “I knew individuals or firms that could provide a fresh perspective,” he said in a response to questions. The Synergy contract began at $85,000 for consulting on lending infrastructure and credit-risk management. Two extensions raised its value to $165,000 through December 2026. The company’s founder, Ancin Cooley, attended Morehouse during part of the time Wesley was there, and the two belonged to the same fraternity, according to records and social media profiles cited in the reporting. Because the Synergy agreement was for nonlegal work and exceeded Prosper’s $25,000 procurement threshold, it would ordinarily have gone through a competitive process. Records show Wesley approved an exemption, which said Synergy’s background and experience limited the availability of comparable providers. Prosper’s normal process calls for inviting at least three vendors to compete for contracts above the threshold. The Ice Miller contract, signed in December 2025, was worth up to $132,000. Its lead lawyer was Loadholt, who graduated from Morehouse with Wesley in 2005, according to their LinkedIn profiles. In June, shortly after Loadholt left Ice Miller, Prosper signed a separate contract with Taft for up to $132,000, again naming Loadholt as the lead attorney. Wesley said continuing with Loadholt and his team allowed the work to proceed without a lengthy transition. Prosper says attorney contracts are exempt from its competitive bidding process. Under a 2024 policy change, the executive director can approve contracts under $500,000 without board approval. The agency’s board chair, Gustavo Cruz, said the engagements complied with Prosper’s procedures and that commissioners received updates about the work. He did not say whether the board knew of Wesley’s friendships with the consultants. The agency has declined to provide even a general description of the law firms’ work, saying the information is protected by attorney-client privilege. Portland lawyer Alan Kessler, who specializes in public-records law, questioned whether that exemption applies, saying it generally covers legal work prepared for litigation or confidential communications made to obtain legal services. The spending comes as Prosper Portland faces heightened scrutiny following a failed $7 million loan to a shoe-manufacturing startup and debate over the agency’s accountability and oversight. The city’s economic development agency operates with an independent board appointed by the City Council. City Council President Jamie Dunphy said the contracts were concerning even if they complied with ethics rules, adding that the agency should do more to demonstrate accountability. Councilor Olivia Clark said the arrangements were another reason to consider placing Prosper under closer city oversight.