Fwd: Development Services Newsletter | April 2025
L.C. Larry Weymouth
Commercial Property Assessed Clean Energy Program
The Corvallis Benton County Economic Development Office will begin administering a Commercial Property Assessed Clean Energy (CPACE) financing program on April 11, 2025. The CPACE Program allows owners of eligible commercial property to obtain long-term financing from private capital providers for certain qualified improvements. The Benton County CPACE Program is set to become just the sixth of its kind in Oregon and the first in the mid or southern Willamette Valley. CPACE is a real estate finance program that incentivizes clean energy, energy efficiency, water efficiency, and seismic systems. The primary goal of CPACE is to promote resilience and sustainability of the built environment and qualified improvements include projects that:
- Decrease energy consumption or demand through the use of efficiency technologies, products, or activities that reduce or support the reduction of energy consumption or allow for the reduction in demand or reduce greenhouse gas emissions.
- Support the production of clean, renewable energy, including but not limited to a product, device, or interacting group of products or devices on the customer's side of the meter that generates electricity, provides thermal energy, or regulates temperature.
- Decrease water consumption or demand and address safe drinking water through the use of efficiency technologies, products, or activities that reduce or support the reduction of water consumption, allow for the reduction in demand, or reduce or eliminate lead from water which may be used for drinking or cooking.
- Increase seismic safety through rehabilitation improvements.
By making it more affordable for building owners to make major improvements to their buildings, local building stock value is enhanced, and more jobs are created. Energy, water, and seismic upgrades create a more competitive environment for retaining and attracting new businesses by lowering energy costs and improving the structural soundness of buildings. Upgraded buildings can also generate higher property tax payments for the city/county. Energy upgrades also typically reduce greenhouse gases and other pollutants, which facilitates adherence to city, county, or state climate action plans or goals.
For more information about CPACE, contact Economic Development Manager Christopher Jacobs at 541-766-6339 or Christoph...@corvallisoregon.gov.
To: "Larry Weymouth" <lcwey...@peak.org>
Sent: Tuesday, April 1, 2025 8:28:33 AM
Subject: Development Services Newsletter | April 2025
Development Services Newsletter | April 2025
The Development Services Division has prepared this quarterly newsletter in an effort to provide the community with more information about changes to land development and permitting. The majority of information that will be shared will be focused on changes to codes, services, and/or fees. We will also include information from other departments when changes from those departments may affect the permitting process. Click the link to find out what’s happening at the City, and how it could impact your building project.
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