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Minority & Small Business Week
September 30, 2015
Business Loans for
Energy Retrofits
The Portland Development
Commission has approved a
new program that will allow
PDC to provide loans to own-
ers of commercial buildings
undertaking energy efficient
retrofits. The agency will ad-
minister the program on behalf
of Multnomah County, which
approved the program and
PDC’s role as administrator
earlier in September.
The Commercial Proper-
ty Assessed Clean Energy
(CPACE) program will be a
two-year pilot using tax incre-
ment funds to support up to
10 projects in the Downtown
Waterfront, Gateway Region-
al Center, Interstate Corridor,
Lents Town Center, North
Macadam, or River District ur-
ban renewal areas.
Firms designated as Disad-
vantaged Business Enterprise
(DBE), Minority Business En-
terprise (MBE), and Woman
Business Enterprise (WBE)
will have an early entry advan-
Patrick Quinton
tage for funding during the pi-
lot period.
“With CPACE loans, we
hope to remove a financial bar-
rier to investment in energy
efficiency while we also take
steps to create wealth creation
opportunities for construction
firms owned by people from
underrepresented populations,”
said Patrick Quinton, PDC ex-
ecutive director.