Commercial businesses in Deschutes County may soon be able to access funding for clean energy financing. April 20, Deschutes County Board of Commissioners will hold a hearing and vote on a Commercial Property Assessed Clean Energy (CPACE) Ordinance. The Ordinance was recently drafted after the Commissioners voted unanimously to move CPACE forward last month. As we face the challenges of rising utility costs and pollution, the Commissioners demonstrated strong leadership and commitment to meeting energy and water conservation goals while helping businesses overcome hurdles to financing building performance.
“This leadership creates a triple win for commercial property owners and developers who want to reduce operating costs, improve cash flow and meet sustainability and public health goals,” explained Paula Latasa of 350 Deschutes. “Commercial businesses and local leaders are genuinely eager to make this program available.”
CPACE has received widespread support from 114 stakeholders including more than 55 businesses, commercial property owners and local leaders. Notably, the program has been endorsed by the Cities of Bend, Redmond and Sisters; Central Oregon Association of Realtors; the Bend and La Pine Chambers of Commerce; Brightwood Corp.; First Interstate Bank; Brooks Resources; Sunlight Solar; Peter Baer Architecture; Neil Kelly; Merete Hotel Management; Killian Pacific; Pioneer Ranch; St. Francis Catholic Church; Deschutes Brewery; and Sunriver Brewing.
The policy creates access to private capital for developers and commercial and multi-family property owners to finance efficiency, clean renewable energy and resiliency projects. CPACE participants can secure up-front financing for water conservation, energy saving or generating measures, battery back-up and EV charging. Project financing can be for new or existing developments and can include hard and soft costs.
Over the last 12 years, CPACE has grown exponentially across the country to meet industry demand for long-term financing that improves building performance and reduces operating costs and emissions. CPACE financing has been used successfully in almost all commercial sectors: hospitality, industrial, office, retail, healthcare, nonprofits, churches, agriculture and multifamily (five units+). Stakeholders are particularly excited about successful CPACE projects in affordable multi-family housing, homeless shelters, nonprofits and the agricultural sector.
The local effort to authorize CPACE is driven by 350 Deschutes, in alignment with their mission to accelerate a just transition to a clean energy economy. The policy creates an economic stimulus, clean energy jobs and reduces building related emissions. Additionally, the energy improvements reduce energy burden in low income and workforce housing projects. Reducing energy burden is an essential component of making housing truly affordable.
350 Deschutes work is supported by Meyer Memorial Trust. For more information on CPACE, please contact Paula Latasa, 541-390-5826.
