PropertyFit provides long-term financing for energy improvements in the Portland area

MF_1610_PropertyFitPropertyFit, formerly CPACE, is a pilot administered by the Portland Development Commission. It offers commercial building owners within Portland’s Urban Renewal Areas long-term financing for up to 100 percent of the cost of energy efficiency or renewable energy capital improvements. For the first time, building owners have a financial tool to undertake comprehensive energy improvement projects that holistically address a building’s performance needs.

Financing is secured with a benefit assessment lien on the property similar to a limited improvement district assessment used by local governments to finance sewer and road improvements. Financing is attached to the property instead of the owner, allowing for the unpaid balance of the assessment to be transferred with the building upon sale.

The current pilot is open only to contractors with Disadvantaged Business Enterprise or Minority/Women Business Enterprise certification. Visit the Business Oregon website for details. If the pilot is successful, there are plans to expand throughout Multnomah County. A map of eligible areas is available on the Building Owners page. Contractors who are interested in participating should contact Shelly Haack, from the Portland Development Commission, at 503.360.4555.

For more information, contact Nate Collins, trade ally coordinator, at 503.278.3075.