The Portland Development Commission (PDC) unanimously approved the Commercial Property Assessed Clean Energy Program this week.
The two-year pilot, which is being conducted in association with Multnomah County, will help building owners upgrade the energy efficiency of their properties. The program will loan as much as $3 million in urban renewal funds over two years to as many as 10 building owners, according to The Portland Tribune.
The most targeted group will be owners of buildings from 10,000 square feet to 50,000 square feet. The story says that the building owners will save on energy bills and the community would benefit from reduced carbon emissions.
The Portland Business Journal said projects will be in the Downtown Waterfront, Gateway Regional Center, Interstate Corridor, Lents Town Center, North Macadam and River District areas. PDC will encourage involvement of minority- and women-owned vendors.
