CPACE Endorsement
Central Oregon Elected Officials
CPACE is an ideal merging of economic stimulus and energy savings opportunities that requires minimal time and resources from government. ORS223.680 enables local governments to pass ordinances or resolutions that authorize the federal program. Authorizing CPACE will give property owners access to private financing that removes barriers to investing in building performance and renewable energy in the commercial sector. CPACE projects increase property values, reduce operating costs, create jobs and opportunities for affordable multi-family housing improvements. CPACE financing can be used retroactively for up to two years. Qualified properties include: commercial, industrial, office, retail, healthcare, nonprofits, churches, hospitality and multifamily (5 units or more).
CPACE benefits property owners, tenants, residents, and the Central Oregon economy
1. Property owners enjoy decreased operating costs & increased asset value
2. Both commercial and residential tenants may enjoy lower energy bills
3. Stimulates private investment in energy and water conservation
Petition by
Sponsored by
To:
Central Oregon Elected Officials
From:
[Your Name]
We endorse the authorization of Commercial Property Assessed Clean Energy (CPACE) by local governments in Central Oregon.
Across the nation, local governments are stimulating economic development and recovery by enabling CPACE financing. Central Oregon elected officials can aid economic recovery and resiliency by implementing CPACE ordinances to provide commercial building owners and developers supplemental financing options for performance improvements on new and existing buildings. CPACE enables private investment that simultaneously helps address economic recovery, COVID and fire safety measures.
ORS223.680 enables local governments to authorize CPACE to:
1. Create economic stimulus through private investment
2. Reduce barriers to investment in building resiliency and performance
3. Provide low-risk opportunities for lenders, business owners and local governments
4. Support public health, energy efficiency and water conservation goals
CPACE gives commercial property owners access to private financing and technical assistance to stimulate sustainable and equitable development while increasing property values, creating jobs and encouraging affordable multi-housing improvements. For these reasons and more, we request that Central Oregon governments pass ordinances to authorize CPACE.