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PMG File Photo – Portland Clean Energy Fund supporters during the November 2020 general election campaign.
Portland, Oregon (light seal) — In late 2023, Portland leaders discovered an additional $540 million available for community-led climate change projects. The committee will soon accept applications from organizations and programs wishing to secure additional funding.
The Portland Clean Energy Community Benefit Fund was first passed in November 2018. With 65% of the vote, the PCEF was designed as a “long-term funding source” for the city’s sustainability efforts. “Priority population”.
by Planning and Sustainability Officethat money comes from a 1% surcharge covered by the big retailer, which generates $1 million in revenue nationally and $500,000 locally.
Last December, officials announced that $540 million in windfall funds would be made available over the next five years. But the city of Portland didn’t initially expect its clean energy fund to be this large.
“Once the program really matured and the revenue started coming in, we found that the revenue projections were not matching the actual results,” said BPS Director Donny Oliveira. Previously told KOIN 6.
at that time, Commissioner Carmen Rubio suggested: The remaining $282 million in funding covers “one-time investments” in local agencies such as the Portland Bureau of Transportation, the Department of Parks and Recreation, and the Office of Management and Finance.
The remaining $258 million was proposed for affordable housing projects, new infrastructure for Portland Fire and Rescue, the future of Keller Auditorium, and other city projects.
But on Thursday, the PCEF committee recommended that the $382.8 million in funding be earmarked for other local projects. This includes renovating the roof of the Arlene Schnitzer Concert Hall, replacing Portland streetcars, and developing a home leak repair program for low-income residents.
At least $158 million of the remaining proceeds will be donated to eligible organizations seeking additional clean energy funding.of cThe Commission recently approved a new application process Opens on April 4th and closes on May 10th.
Applicants can receive grants ranging from $20 million to $100 million.
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