Friday, September 1, 2017

PropertyFit Program Expands to Finance Seismic Upgrades in Multnomah County

The Daily Journal of Commerce reports that the PropertyFit program, which offers 100% financing to building owners and developers for energy-efficiency and seismic upgrades, will be expanding to serve properties throughout Multnomah County. Prosper Portland, Multnomah County, and the Energy Trust of Oregon are sponsoring the program in hopes that it will encourage "mom and pop" owners of unreinforced masonry buildings to perform necessary seismic upgrades. The capital providers for the program include Prosper Portland, CleanFund Commercial PACE Capital Inc., and PACE Equity. Funding can also be used to replace outdated boilers and lighting systems with more energy efficient alternatives. It appears from the website that interest rates range between 5-10%. Read more.

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