Local Option - Local Improvement Districts (Oregon)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Local Option - Local Improvement Districts|
|Incentive Type||PACE Financing|
|Applicable Sector||Commercial, Industrial, Multi-Family Residential, Residential, Special Improvement District, Local Improvement District|
|Eligible Technologies||Locally determined, Locally determined|
|Energy Category||Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs|
|Program Administrator||Programs administered locally|
|Date added to DSIRE||2009-07-28|
|Last DSIRE Review||2012-08-22|
Note: The Federal Housing Financing Agency (FHFA) issued a statement in July 2010 concerning the senior lien status associated with most PACE programs. In response to the FHFA statement, most local PACE programs have been suspended until further clarification is provided.
Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Oregon has authorized certain local governments to establish such programs, as described below. (Not all local governments in Oregon offer PACE financing; contact your local government to find out if it has established a PACE financing program.)
Oregon has authorized the creation of "local improvement districts" where cities and counties provide financing for the installation of renewable-energy systems and energy-efficiency improvements to residential, commercial, industrial or other qualifying real property. HB 2626, enacted in July 2009, authorizes local governments to provide loans for renewable energy and energy efficiency improvements. Local governments may issue revenue bonds to finance this loan program or can borrow money from the Oregon Department of Energy under the Energy Efficiency and Sustainable Technologies Loan Program for small-scale local energy projects. Prior to establishing the program, the local government must notify the electric and gas utilities in the area, as the loans may be paid back on utility bills. The loans may be secured with a lien on the property, although liens are not senior. Some potential options for loan repayment are via a special assessment on local government taxes, utility bills, or another approved method of loan repayment.
|Contact Name||Kathy Estes|
|Department||Oregon Department of Energy|
|Address||625 Marion Street, N.E.|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||HB 2626|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.