1 00:01:48,908 --> 00:07:17,470 ... 2 00:07:17,470 --> 00:07:18,337 ยป cruz: will you please call 3 00:07:18,337 --> 00:07:23,242 the roll. 4 00:07:23,242 --> 00:07:24,877 >> commissioner slick. 5 00:07:24,877 --> 00:07:30,483 >> slick: here. 6 00:07:30,483 --> 00:07:31,417 Commiss 7 00:07:31,417 --> 00:07:37,957 commissioner alvarez. 8 00:07:37,957 --> 00:07:39,258 >> alvarez: here. 9 00:07:39,258 --> 00:07:40,259 >> ted cruz. 10 00:07:40,259 --> 00:07:40,760 >> cruz: here. 11 00:07:40,760 --> 00:07:42,061 I have a note to read. 12 00:07:42,061 --> 00:07:44,297 As provided by state law, 13 00:07:44,297 --> 00:07:44,964 prosper portland has provided an 14 00:07:44,964 --> 00:07:46,766 opportunity to access and attend 15 00:07:46,766 --> 00:07:47,833 this meeting in person. 16 00:07:47,833 --> 00:07:49,068 There's a youtube live stream 17 00:07:49,068 --> 00:07:50,603 video of the meeting and the 18 00:07:50,603 --> 00:07:52,538 public has had an opportunity to 19 00:07:52,538 --> 00:07:54,006 arrange in advance to provide 20 00:07:54,006 --> 00:07:54,607 virtual testimony. 21 00:07:54,607 --> 00:07:55,841 At this time, the public may 22 00:07:55,841 --> 00:07:56,541 provide written testimony to the 23 00:07:56,541 --> 00:08:09,255 commission by emailing prosper 24 00:08:09,255 --> 00:08:10,022 commissioners@prosperportland.us 25 00:08:10,022 --> 00:08:10,590 . 26 00:08:10,590 --> 00:08:11,791 We've got a short agenda today, 27 00:08:11,791 --> 00:08:13,259 but we'll go through a few of 28 00:08:13,259 --> 00:08:14,927 our usual items. 29 00:08:14,927 --> 00:08:16,662 Item number 2 is commissioner 30 00:08:16,662 --> 00:08:16,929 reports. 31 00:08:16,929 --> 00:08:17,964 Does anything have anything 32 00:08:17,964 --> 00:08:23,035 they'd like to report this 33 00:08:23,035 --> 00:08:24,036 month? 34 00:08:24,036 --> 00:08:24,337 Okay. 35 00:08:24,337 --> 00:08:26,404 Sounds like no. 36 00:08:26,404 --> 00:08:29,041 So next we have the executive 37 00:08:29,041 --> 00:08:29,842 director report with cornell 38 00:08:29,842 --> 00:08:30,075 wesley. 39 00:08:30,075 --> 00:08:31,243 Welcome. 40 00:08:31,243 --> 00:08:31,510 Cornell. 41 00:08:31,510 --> 00:08:34,146 >> wesley: good afternoon, 42 00:08:34,146 --> 00:08:34,647 everyone. 43 00:08:34,647 --> 00:08:36,916 Last week city council 44 00:08:36,916 --> 00:08:39,151 reappointed commissioner stoudamire to the 45 00:08:39,151 --> 00:08:40,418 prosper portland board. 46 00:08:40,418 --> 00:08:41,954 We are extremely excited about 47 00:08:41,954 --> 00:08:43,155 this reappointment. 48 00:08:43,155 --> 00:08:44,690 She's been recognized for her 49 00:08:44,690 --> 00:08:46,726 expertise in public service, 50 00:08:46,726 --> 00:08:48,260 community engagement, and 51 00:08:48,260 --> 00:08:49,562 strategic leadership. 52 00:08:49,562 --> 00:08:51,564 She currently serves as director 53 00:08:51,564 --> 00:08:52,698 of engagement and civil rights 54 00:08:52,698 --> 00:08:54,066 for the oregon department of 55 00:08:54,066 --> 00:08:54,433 transportation. 56 00:08:54,433 --> 00:08:58,837 And so we want to collectively 57 00:08:58,837 --> 00:09:01,573 congratulate commissioner opn hr 58 00:09:01,573 --> 00:09:04,310 return and thank her for her 59 00:09:04,310 --> 00:09:05,244 commitment to not only portland 60 00:09:05,244 --> 00:09:06,412 but the city as well. 61 00:09:06,412 --> 00:09:07,946 I want to note we're in the 62 00:09:07,946 --> 00:09:11,283 middle of roux week. 63 00:09:11,283 --> 00:09:13,719 It's a city-wide celebration of 64 00:09:13,719 --> 00:09:15,287 food and drink culture for the 65 00:09:15,287 --> 00:09:18,190 food obsessed, cocktail 66 00:09:18,190 --> 00:09:19,191 enthusiast, avid restaurantgoers 67 00:09:19,191 --> 00:09:21,726 and the culinary curious. 68 00:09:21,726 --> 00:09:25,665 Now through sunday, octo 69 00:09:25,665 --> 00:09:27,433 october 12th, roum week has 70 00:09:27,433 --> 00:09:29,869 panels and hands-on experiences 71 00:09:29,869 --> 00:09:30,769 highlighting women and food and 72 00:09:30,769 --> 00:09:31,971 drink culture. 73 00:09:31,971 --> 00:09:32,571 Prosper portland's office of 74 00:09:32,571 --> 00:09:34,173 events and film is proud to 75 00:09:34,173 --> 00:09:36,208 support this event with 76 00:09:36,208 --> 00:09:38,410 technical assistance and a scale 77 00:09:38,410 --> 00:09:38,944 up grant. 78 00:09:38,944 --> 00:09:42,181 For a full list of events and 79 00:09:42,181 --> 00:09:45,151 ticket prices, please visit 80 00:09:45,151 --> 00:09:45,551 rouxportland.com. 81 00:09:45,551 --> 00:09:47,286 Also of note the office of small 82 00:09:47,286 --> 00:09:50,589 business is hosting the october 83 00:09:50,589 --> 00:09:52,858 show up for small business event 84 00:09:52,858 --> 00:09:53,525 on wednesday, october 15th 85 00:09:53,525 --> 00:09:57,263 starting at 5:30 p.m. At the 86 00:09:57,263 --> 00:09:59,265 array food hall in the gateway 87 00:09:59,265 --> 00:10:00,132 district. 88 00:10:00,132 --> 00:10:01,900 Every month the osb team chooses 89 00:10:01,900 --> 00:10:03,569 a spot in a different 90 00:10:03,569 --> 00:10:04,203 neighborhood or business 91 00:10:04,203 --> 00:10:06,338 district and invites everyone to 92 00:10:06,338 --> 00:10:08,107 come out and shop, grab a 93 00:10:08,107 --> 00:10:10,042 beverage or meal at the small 94 00:10:10,042 --> 00:10:11,977 business in that area. 95 00:10:11,977 --> 00:10:14,046 No agenda, no speech, just all 96 00:10:14,046 --> 00:10:17,850 of us celebrating the amazing 97 00:10:17,850 --> 00:10:19,051 businesses that make portland 98 00:10:19,051 --> 00:10:19,284 unique. 99 00:10:19,284 --> 00:10:35,801 The show up for small bus 100 00:10:35,801 --> 00:10:36,935 businbus 101 00:10:36,935 --> 00:10:37,636 busbusiness 102 00:10:37,636 --> 00:10:38,270 are gone ongoing for all of the 103 00:10:38,270 --> 00:10:38,637 sponsors below. 104 00:10:38,637 --> 00:10:39,204 Kicking it back to you, 105 00:10:39,204 --> 00:10:39,638 commissioner cruz. 106 00:10:39,638 --> 00:10:40,538 >> cruz: thank you, wesley. 107 00:10:40,538 --> 00:10:44,276 Next up, we have item 4, meeting 108 00:10:44,276 --> 00:10:44,543 minutes. 109 00:10:44,543 --> 00:10:45,711 Would somebody like to make a 110 00:10:45,711 --> 00:10:48,347 motion to approve the 111 00:10:48,347 --> 00:10:50,448 september 10, 2025, minutes? 112 00:10:50,448 --> 00:10:53,385 Assuming there are no comments. 113 00:10:53,385 --> 00:10:53,986 >> so moved. 114 00:10:53,986 --> 00:10:54,787 >> cruz: thank you. 115 00:10:54,787 --> 00:10:57,523 Is that a second? 116 00:10:57,523 --> 00:10:58,390 >> I second. 117 00:10:58,390 --> 00:10:58,790 >> cruz: great. 118 00:10:58,790 --> 00:10:59,625 All right. 119 00:10:59,625 --> 00:11:03,262 All those in favor of approving 120 00:11:03,262 --> 00:11:05,097 the minutes. 121 00:11:05,097 --> 00:11:05,598 [chorus of ayes] 122 00:11:05,598 --> 00:11:06,432 >> cruz: passes unanimously. 123 00:11:06,432 --> 00:11:09,635 Thank you so much. 124 00:11:09,635 --> 00:11:09,835 Okay. 125 00:11:09,835 --> 00:11:11,403 Do we have any public comment 126 00:11:11,403 --> 00:11:17,076 for items not on the agenda? 127 00:11:17,076 --> 00:11:17,610 Pam? 128 00:11:17,610 --> 00:11:19,811 >> feigenbutz: not received. 129 00:11:19,811 --> 00:11:20,245 >> cruz: all right. 130 00:11:20,245 --> 00:11:26,452 I'll note again as I engsmentio 131 00:11:26,452 --> 00:11:29,621 earlier, the public can submit 132 00:11:29,621 --> 00:11:34,193 comments to to prosper 133 00:11:34,193 --> 00:11:34,827 commissioners@prosperportland.us 134 00:11:34,827 --> 00:11:34,960 . 135 00:11:34,960 --> 00:11:36,395 Now we're going to take care of 136 00:11:36,395 --> 00:11:37,196 housekeeping right off the bat 137 00:11:37,196 --> 00:11:38,631 that we didn't have in our 138 00:11:38,631 --> 00:11:39,632 written agenda. 139 00:11:39,632 --> 00:11:41,167 We'll try to clean a couple 140 00:11:41,167 --> 00:11:42,368 things up. 141 00:11:42,368 --> 00:11:47,239 With a full board back in place 142 00:11:47,239 --> 00:11:48,240 for the first miteeting since t 143 00:11:48,240 --> 00:11:50,008 year began, I'd like to add the 144 00:11:50,008 --> 00:11:51,076 annual election of officers to 145 00:11:51,076 --> 00:11:51,576 the agenda. 146 00:11:51,576 --> 00:11:53,179 We've not done that yet. 147 00:11:53,179 --> 00:11:54,813 Is there a motion to add this 148 00:11:54,813 --> 00:11:57,249 item to the regular agenda? 149 00:11:57,249 --> 00:11:59,218 >> so moved. 150 00:11:59,218 --> 00:11:59,952 >> cruz: okay. 151 00:11:59,952 --> 00:12:02,321 Do we have a second? 152 00:12:02,321 --> 00:12:02,621 >> second. 153 00:12:02,621 --> 00:12:03,155 >> cruz: great. 154 00:12:03,155 --> 00:12:04,622 All those in favor of adding 155 00:12:04,622 --> 00:12:09,261 this agenda item. 156 00:12:09,261 --> 00:12:09,628 [chorus of ayes] 157 00:12:09,628 --> 00:12:10,262 >> cruz: okay. 158 00:12:10,262 --> 00:12:12,565 It now joins the agenda. 159 00:12:12,565 --> 00:12:15,266 So as required by prosper 160 00:12:15,266 --> 00:12:16,602 portland board bylaws, we need 161 00:12:16,602 --> 00:12:18,370 to elect officer positions of 162 00:12:18,370 --> 00:12:21,173 chair, vice-chair, and 163 00:12:21,173 --> 00:12:21,473 treasurer. 164 00:12:21,473 --> 00:12:22,341 And would any one of the 165 00:12:22,341 --> 00:12:24,677 commissioners like to make a 166 00:12:24,677 --> 00:12:31,717 motion in accordance with those 167 00:12:31,717 --> 00:12:32,051 requirements? 168 00:12:32,051 --> 00:12:32,718 Felisa. 169 00:12:32,718 --> 00:12:35,254 >> hagins: I'd love to move tom 170 00:12:35,254 --> 00:12:37,990 be re-elected as chair of the 171 00:12:37,990 --> 00:12:39,291 board. 172 00:12:39,291 --> 00:12:40,025 Commissioner commissioner 173 00:12:40,025 --> 00:12:41,493 stoudamire be elected vice-chair 174 00:12:41,493 --> 00:12:47,299 as the board. 175 00:12:47,299 --> 00:12:49,134 And marcelino alvarez be elected 176 00:12:49,134 --> 00:12:51,036 as the treasurer of the board. 177 00:12:51,036 --> 00:12:53,005 >> cruz: do we have a second for 178 00:12:53,005 --> 00:12:53,505 this motion? 179 00:12:53,505 --> 00:12:54,273 >> second. 180 00:12:54,273 --> 00:12:55,241 >> cruz: great. 181 00:12:55,241 --> 00:12:56,475 Thank you. 182 00:12:56,475 --> 00:12:57,009 Okay. 183 00:12:57,009 --> 00:13:00,379 So does anyone have any comments 184 00:13:00,379 --> 00:13:03,249 or questions or anything they'd 185 00:13:03,249 --> 00:13:04,483 like to say? 186 00:13:04,483 --> 00:13:05,450 >> hagins: I really appreciate 187 00:13:05,450 --> 00:13:06,819 the role that you all are 188 00:13:06,819 --> 00:13:07,786 stepping up and playing on the 189 00:13:07,786 --> 00:13:08,187 board. 190 00:13:08,187 --> 00:13:09,722 I think it's really important 191 00:13:09,722 --> 00:13:10,656 and I appreciate that you're 192 00:13:10,656 --> 00:13:11,890 putting in the time and effort 193 00:13:11,890 --> 00:13:15,260 to do that as well as 194 00:13:15,260 --> 00:13:17,029 commissioner slick's engagement 195 00:13:17,029 --> 00:13:17,596 in cafe. 196 00:13:17,596 --> 00:13:19,031 I just want to give a little 197 00:13:19,031 --> 00:13:21,533 shout-out and appreciation to my 198 00:13:21,533 --> 00:13:22,768 fellow board members. 199 00:13:22,768 --> 00:13:23,469 Thank you very much. 200 00:13:23,469 --> 00:13:25,971 >> cruz: thank you, commissioner 201 00:13:25,971 --> 00:13:26,204 hagins. 202 00:13:26,204 --> 00:13:30,108 Any other comments? 203 00:13:30,108 --> 00:13:35,614 >> I want to give a shout out to 204 00:13:35,614 --> 00:13:36,015 t 205 00:13:36,015 --> 00:13:36,215 tabo. 206 00:13:36,215 --> 00:13:38,417 I know he spent a lot of time on 207 00:13:38,417 --> 00:13:39,285 prosper and the board. 208 00:13:39,285 --> 00:13:42,121 Thank you so much. 209 00:13:42,121 --> 00:13:43,288 >> cruz: I have to of course 210 00:13:43,288 --> 00:13:44,690 thank all of you for what you're 211 00:13:44,690 --> 00:13:45,691 doing and for all of your great 212 00:13:45,691 --> 00:13:48,427 work and input and support. 213 00:13:48,427 --> 00:13:51,664 So the feeling is mutual. 214 00:13:51,664 --> 00:13:53,165 So everybody brings their 215 00:13:53,165 --> 00:13:54,366 expertise, and we wouldn't have 216 00:13:54,366 --> 00:13:55,935 a great board without that. 217 00:13:55,935 --> 00:14:02,107 So really appreciate all of you. 218 00:14:02,107 --> 00:14:05,311 So okay then, as board chair -- 219 00:14:05,311 --> 00:14:06,111 excuse me. 220 00:14:06,111 --> 00:14:10,015 We'll go ahead and take a vote 221 00:14:10,015 --> 00:14:10,215 then. 222 00:14:10,215 --> 00:14:12,451 All those in favor of approving 223 00:14:12,451 --> 00:14:16,588 the slate of directors as 224 00:14:16,588 --> 00:14:16,855 proposed. 225 00:14:16,855 --> 00:14:17,222 [chorus of ayes] 226 00:14:17,222 --> 00:14:18,590 >> cruz: okay. 227 00:14:18,590 --> 00:14:20,292 Thank you. 228 00:14:20,292 --> 00:14:21,560 Okay then. 229 00:14:21,560 --> 00:14:23,462 And then as board chair and a 230 00:14:23,462 --> 00:14:26,298 member of the prosper portland's 231 00:14:26,298 --> 00:14:28,534 standing audit committee 232 00:14:28,534 --> 00:14:30,202 pursuant to board 233 00:14:30,202 --> 00:14:35,240 resolution 6112, I'd like to 234 00:14:35,240 --> 00:14:39,211 appoint commissioner stoudamire 235 00:14:39,211 --> 00:14:39,644 fo 236 00:14:39,644 --> 00:14:40,479 wesley to the audit commission 237 00:14:40,479 --> 00:14:42,081 for this coming year. 238 00:14:42,081 --> 00:14:43,215 Hope everybody's okay with that. 239 00:14:43,215 --> 00:14:45,083 we go back to our 240 00:14:45,083 --> 00:14:46,351 regularly scheduled programming. 241 00:14:46,351 --> 00:14:48,587 Now we'll do item 6 -- excuse 242 00:14:48,587 --> 00:14:49,822 me, which is now item 7. 243 00:14:49,822 --> 00:14:52,591 This is an action item approving 244 00:14:52,591 --> 00:14:54,393 building conversion and 245 00:14:54,393 --> 00:14:59,264 community anchor destination 246 00:14:59,264 --> 00:15:01,800 energy efficiency and loan 247 00:15:01,800 --> 00:15:03,068 program guidelines. 248 00:15:03,068 --> 00:15:04,236 Lisa abuaf and kay little will 249 00:15:04,236 --> 00:15:06,372 both present on these items. 250 00:15:06,372 --> 00:15:08,707 Welcome, lisa and kay. 251 00:15:08,707 --> 00:15:10,442 >> thanks chair cruz and 252 00:15:10,442 --> 00:15:10,876 commissioners. 253 00:15:10,876 --> 00:15:12,378 As allison's pulling up the 254 00:15:12,378 --> 00:15:15,247 deck, good afternoon. 255 00:15:15,247 --> 00:15:16,114 I'm lisa abuaf, director of 256 00:15:16,114 --> 00:15:17,582 development and investment with 257 00:15:17,582 --> 00:15:18,016 prosper portland. 258 00:15:18,016 --> 00:15:20,786 Glad to be joined by kay little 259 00:15:20,786 --> 00:15:23,288 who is our investment manager 260 00:15:23,288 --> 00:15:25,190 who's staff person shelly hack 261 00:15:25,190 --> 00:15:26,825 has been instrumental to putting 262 00:15:26,825 --> 00:15:28,460 these program guidelines 263 00:15:28,460 --> 00:15:28,761 together. 264 00:15:28,761 --> 00:15:34,466 Also wanted to acknowledge that 265 00:15:34,466 --> 00:15:35,066 samb 266 00:15:35,066 --> 00:15:36,902 sam baraso is here in case the 267 00:15:36,902 --> 00:15:37,870 board has any questions, because 268 00:15:37,870 --> 00:15:41,006 it's a partnership between 269 00:15:41,006 --> 00:15:43,142 prosper portland and pcef and 270 00:15:43,142 --> 00:15:45,010 sam leads the clean energy fund 271 00:15:45,010 --> 00:15:47,980 work within the bureau of 272 00:15:47,980 --> 00:15:48,580 planning and sustainability. 273 00:15:48,580 --> 00:15:49,548 Next slide, please. 274 00:15:49,548 --> 00:15:50,749 Wanted to honor that we're being 275 00:15:50,749 --> 00:15:52,351 efficient with our presentation 276 00:15:52,351 --> 00:15:55,454 today, so in fact, this 277 00:15:55,454 --> 00:15:57,022 presentation captures what is 278 00:15:57,022 --> 00:15:59,558 before you in two separate but 279 00:15:59,558 --> 00:16:01,927 related resolutions. 280 00:16:01,927 --> 00:16:04,896 So one is to approve guidelines 281 00:16:04,896 --> 00:16:07,266 for a central city building 282 00:16:07,266 --> 00:16:09,268 conversion pilot loan program. 283 00:16:09,268 --> 00:16:12,371 And the second is to approve 284 00:16:12,371 --> 00:16:14,506 guidelines for an anchor 285 00:16:14,506 --> 00:16:15,908 destination energy efficiency 286 00:16:15,908 --> 00:16:17,810 and renewable energy loan 287 00:16:17,810 --> 00:16:21,814 program. 288 00:16:21,814 --> 00:16:22,114 Next slide. 289 00:16:22,114 --> 00:16:24,683 So wanted to highlight that in 290 00:16:24,683 --> 00:16:25,951 fact the action that is before 291 00:16:25,951 --> 00:16:27,653 the board today implements on 292 00:16:27,653 --> 00:16:28,387 two key strategies. 293 00:16:28,387 --> 00:16:31,123 I know you're very familiar with 294 00:16:31,123 --> 00:16:32,324 advanced portland as our 295 00:16:32,324 --> 00:16:34,526 collective economic development 296 00:16:34,526 --> 00:16:35,894 strategy for portland. 297 00:16:35,894 --> 00:16:36,895 And there are particular 298 00:16:36,895 --> 00:16:39,097 outcomes that you see listed 299 00:16:39,097 --> 00:16:43,302 here tied to fostering a vibrant 300 00:16:43,302 --> 00:16:44,670 central city and neighborhood 301 00:16:44,670 --> 00:16:45,337 commercial districts that speak 302 00:16:45,337 --> 00:16:46,371 to a number of elements that 303 00:16:46,371 --> 00:16:47,772 touch on some of these loan 304 00:16:47,772 --> 00:16:49,107 program guidelines from office 305 00:16:49,107 --> 00:16:52,744 to residential conversions, 306 00:16:52,744 --> 00:16:54,847 providing incentive to support 307 00:16:54,847 --> 00:16:56,248 housing production via various 308 00:16:56,248 --> 00:16:57,716 means, and then supporting 309 00:16:57,716 --> 00:16:58,984 anchor business retention, 310 00:16:58,984 --> 00:17:00,119 particularly in the central city 311 00:17:00,119 --> 00:17:01,720 as we think about the role that 312 00:17:01,720 --> 00:17:03,188 the anchor destination program 313 00:17:03,188 --> 00:17:04,956 can play for some of our central 314 00:17:04,956 --> 00:17:07,259 city partners. 315 00:17:07,259 --> 00:17:10,329 But also it furthers 316 00:17:10,329 --> 00:17:11,864 implementation of the climate 317 00:17:11,864 --> 00:17:13,598 investment plan, the climate 318 00:17:13,598 --> 00:17:14,800 investment plan was developed 319 00:17:14,800 --> 00:17:16,835 through a nine-month 320 00:17:16,835 --> 00:17:18,537 community-driven process. 321 00:17:18,537 --> 00:17:19,604 It involved significant input 322 00:17:19,604 --> 00:17:21,807 from residents, business, 323 00:17:21,807 --> 00:17:22,674 technical experts, community 324 00:17:22,674 --> 00:17:25,043 partners, et cetera, and it is 325 00:17:25,043 --> 00:17:28,914 the plan that informs how pcef 326 00:17:28,914 --> 00:17:31,016 invests a certain portion of the 327 00:17:31,016 --> 00:17:32,784 pcef resources into community. 328 00:17:32,784 --> 00:17:36,522 Next slide, please. 329 00:17:36,522 --> 00:17:38,557 So just a little bit of 330 00:17:38,557 --> 00:17:40,959 background and to try to weave 331 00:17:40,959 --> 00:17:42,928 together all the plates of the 332 00:17:42,928 --> 00:17:44,530 braid, you may recall at about a 333 00:17:44,530 --> 00:17:47,266 year ago the board approved an 334 00:17:47,266 --> 00:17:48,100 intergovernmental agreement 335 00:17:48,100 --> 00:17:50,135 between pcef and prosper 336 00:17:50,135 --> 00:17:52,737 portland that allocated certain 337 00:17:52,737 --> 00:17:54,005 funds from what are called 338 00:17:54,005 --> 00:17:55,407 strategic programs within that 339 00:17:55,407 --> 00:17:58,076 climate investment plan. 340 00:17:58,076 --> 00:18:00,646 The four key areas that are in 341 00:18:00,646 --> 00:18:02,614 intergovernmental agreement with 342 00:18:02,614 --> 00:18:03,849 pcef touches upon are outlined 343 00:18:03,849 --> 00:18:06,418 here in yellow. 344 00:18:06,418 --> 00:18:08,787 These include everything from 345 00:18:08,787 --> 00:18:11,557 support on workforce training 346 00:18:11,557 --> 00:18:12,858 via community response grants to 347 00:18:12,858 --> 00:18:15,260 launching a new clean energy 348 00:18:15,260 --> 00:18:16,595 grant for small, commercial 349 00:18:16,595 --> 00:18:18,897 buildings and property owners in 350 00:18:18,897 --> 00:18:21,200 buildings under 40,000 square 351 00:18:21,200 --> 00:18:21,500 feet. 352 00:18:21,500 --> 00:18:22,968 And a specific allocation of a 353 00:18:22,968 --> 00:18:24,603 portion of those grant dollars 354 00:18:24,603 --> 00:18:26,071 to 82nd avenue. 355 00:18:26,071 --> 00:18:28,273 And we are here before you today 356 00:18:28,273 --> 00:18:30,842 to focus on the implementation 357 00:18:30,842 --> 00:18:32,911 and administration of strategic 358 00:18:32,911 --> 00:18:33,244 program 14. 359 00:18:33,244 --> 00:18:35,113 You see it all the way on the 360 00:18:35,113 --> 00:18:35,614 right. 361 00:18:35,614 --> 00:18:37,115 This will provide increased 362 00:18:37,115 --> 00:18:38,984 access to capital in two key 363 00:18:38,984 --> 00:18:39,618 areas. 364 00:18:39,618 --> 00:18:42,421 One for an early pilot and 365 00:18:42,421 --> 00:18:50,495 learning phase around russeside 366 00:18:50,495 --> 00:18:51,963 conversion programs and another 367 00:18:51,963 --> 00:18:55,000 around the anchor destination 368 00:18:55,000 --> 00:18:55,267 program. 369 00:18:55,267 --> 00:18:56,034 Next slide. 370 00:18:56,034 --> 00:18:57,802 Now we wanted to dive into more 371 00:18:57,802 --> 00:18:58,704 detail and we've separated your 372 00:18:58,704 --> 00:19:00,138 two actions into two chapters of 373 00:19:00,138 --> 00:19:01,540 the presentation. 374 00:19:01,540 --> 00:19:02,741 So first, wanted to provide a 375 00:19:02,741 --> 00:19:04,676 bit of context regarding the 376 00:19:04,676 --> 00:19:05,710 pilot conversion program. 377 00:19:05,710 --> 00:19:08,513 What you see here is a timeline 378 00:19:08,513 --> 00:19:10,415 of a number of interdependent 379 00:19:10,415 --> 00:19:11,916 initiatives that we've been at 380 00:19:11,916 --> 00:19:15,520 together with pcef and other 381 00:19:15,520 --> 00:19:16,054 partners. 382 00:19:16,054 --> 00:19:20,259 This does include pcef's work on 383 00:19:20,259 --> 00:19:20,926 the approval and implementation 384 00:19:20,926 --> 00:19:22,127 on the climate investment plan. 385 00:19:22,127 --> 00:19:24,529 It also includes work that we 386 00:19:24,529 --> 00:19:26,732 have had underway with the 387 00:19:26,732 --> 00:19:27,432 department of environmental 388 00:19:27,432 --> 00:19:29,034 quality at the state level. 389 00:19:29,034 --> 00:19:32,371 We've actually had a multiyear 390 00:19:32,371 --> 00:19:33,171 partnership with them as they 391 00:19:33,171 --> 00:19:34,239 started to consider how some 392 00:19:34,239 --> 00:19:35,974 resources they applied for and 393 00:19:35,974 --> 00:19:36,808 were successful in receiving 394 00:19:36,808 --> 00:19:40,078 from the federal government 395 00:19:40,078 --> 00:19:41,679 could contribute both to broader 396 00:19:41,679 --> 00:19:43,749 pollution reduction, but con -- 397 00:19:43,749 --> 00:19:46,284 but also conversions as a 398 00:19:46,284 --> 00:19:49,988 portion of that pollution 399 00:19:49,988 --> 00:19:50,388 reduction grant. 400 00:19:50,388 --> 00:19:51,289 And there are resources that 401 00:19:51,289 --> 00:19:53,358 will also eventually come before 402 00:19:53,358 --> 00:19:56,495 the board and executive director 403 00:19:56,495 --> 00:19:57,896 wesley for allocation. 404 00:19:57,896 --> 00:20:00,198 Because we are negotiating a 405 00:20:00,198 --> 00:20:01,733 contract with daq for 406 00:20:01,733 --> 00:20:03,969 administration of those funds. 407 00:20:03,969 --> 00:20:05,203 Prosper also a couple of years 408 00:20:05,203 --> 00:20:07,105 ago worked with the mayor's 409 00:20:07,105 --> 00:20:13,712 office as well as echo 410 00:20:13,712 --> 00:20:15,880 northwest, agagensler an 411 00:20:15,880 --> 00:20:16,648 architectural firm to understand 412 00:20:16,648 --> 00:20:17,783 what was happening on the 413 00:20:17,783 --> 00:20:18,717 national side and best 414 00:20:18,717 --> 00:20:19,017 practices. 415 00:20:19,017 --> 00:20:20,618 What were the regulatory or 416 00:20:20,618 --> 00:20:22,421 financial products that other 417 00:20:22,421 --> 00:20:23,088 cities were offering. 418 00:20:23,088 --> 00:20:24,589 And how should we think about 419 00:20:24,589 --> 00:20:25,490 those in portland. 420 00:20:25,490 --> 00:20:30,295 We actually took a look at some 421 00:20:30,295 --> 00:20:32,464 case studies, analyzed the 422 00:20:32,464 --> 00:20:33,332 feasibility of conversions to 423 00:20:33,332 --> 00:20:34,399 understand what kinds of 424 00:20:34,399 --> 00:20:35,433 buildings could make good 425 00:20:35,433 --> 00:20:36,568 candidates and what kind of 426 00:20:36,568 --> 00:20:37,803 regulatory or financial tools 427 00:20:37,803 --> 00:20:39,471 would be needed to support those 428 00:20:39,471 --> 00:20:39,771 projects. 429 00:20:39,771 --> 00:20:41,072 And the guidelines that kay's 430 00:20:41,072 --> 00:20:42,874 going to walk you through 431 00:20:42,874 --> 00:20:43,675 shortly are an important next 432 00:20:43,675 --> 00:20:46,778 step in kind of taking the next 433 00:20:46,778 --> 00:20:48,380 step in implementing some of the 434 00:20:48,380 --> 00:20:50,215 recommendations of that report. 435 00:20:50,215 --> 00:20:52,851 Next slide, please. 436 00:20:52,851 --> 00:20:53,952 So we also thought it was 437 00:20:53,952 --> 00:20:55,253 important to kind of highlight 438 00:20:55,253 --> 00:20:57,622 some of the work that we've been 439 00:20:57,622 --> 00:20:59,257 doing with pcef. 440 00:20:59,257 --> 00:21:00,125 This particular visual is 441 00:21:00,125 --> 00:21:02,127 actually from the rocky mountain 442 00:21:02,127 --> 00:21:03,195 institute. 443 00:21:03,195 --> 00:21:04,830 It shows that office to 444 00:21:04,830 --> 00:21:05,630 residential conversions can 445 00:21:05,630 --> 00:21:07,866 actually significantly lower 446 00:21:07,866 --> 00:21:10,202 embodied carbon by reusing 447 00:21:10,202 --> 00:21:12,738 existing buildings, structures, 448 00:21:12,738 --> 00:21:14,406 materials, et cetera, instead of 449 00:21:14,406 --> 00:21:14,839 new construction. 450 00:21:14,839 --> 00:21:18,243 And what you see here is kind of 451 00:21:18,243 --> 00:21:20,846 in the lifecycle of a building 452 00:21:20,846 --> 00:21:22,481 from construction through to 453 00:21:22,481 --> 00:21:24,383 operations through to kind of 454 00:21:24,383 --> 00:21:26,051 eventual demolition if a 455 00:21:26,051 --> 00:21:28,819 building is no longer useable, 456 00:21:28,819 --> 00:21:30,955 the 40% of carbon emissions are 457 00:21:30,955 --> 00:21:33,558 actually generated during the 458 00:21:33,558 --> 00:21:34,025 construction phase. 459 00:21:34,025 --> 00:21:36,027 And then the secondary or 460 00:21:36,027 --> 00:21:37,729 tertiary benefit which is 461 00:21:37,729 --> 00:21:38,963 certainly important has also 462 00:21:38,963 --> 00:21:40,565 been important to the way we've 463 00:21:40,565 --> 00:21:43,001 negotiated the guidelines with 464 00:21:43,001 --> 00:21:45,036 pcef is that conversions also 465 00:21:45,036 --> 00:21:46,505 generate additional housing 466 00:21:46,505 --> 00:21:48,340 units, as well as addressing the 467 00:21:48,340 --> 00:21:49,307 urban challenges that vacant 468 00:21:49,307 --> 00:21:51,910 office spaces are creating. 469 00:21:51,910 --> 00:21:53,311 In addition, because you'll see 470 00:21:53,311 --> 00:21:54,712 this as kay walks you through 471 00:21:54,712 --> 00:21:56,481 the program guidelines for 472 00:21:56,481 --> 00:21:57,148 conversions, it's important to 473 00:21:57,148 --> 00:21:58,783 take the opportunity to make 474 00:21:58,783 --> 00:22:01,086 energy efficiency upgrades 475 00:22:01,086 --> 00:22:02,187 during the conversion process to 476 00:22:02,187 --> 00:22:05,857 more fully realize and embodied 477 00:22:05,857 --> 00:22:07,459 carbon savings and ensure 478 00:22:07,459 --> 00:22:08,560 overall environmental impact. 479 00:22:08,560 --> 00:22:10,462 You'll see that in terms of the 480 00:22:10,462 --> 00:22:11,730 guidelines also being tied to 481 00:22:11,730 --> 00:22:13,965 folks when they're converting a 482 00:22:13,965 --> 00:22:15,167 commercial asset into 483 00:22:15,167 --> 00:22:17,969 residential, installing higher 484 00:22:17,969 --> 00:22:18,869 energy efficiency hvac systems, 485 00:22:18,869 --> 00:22:19,170 et cetera. 486 00:22:19,170 --> 00:22:20,805 With that, I'm going to hand it 487 00:22:20,805 --> 00:22:22,607 over to kay to walk through the 488 00:22:22,607 --> 00:22:25,177 specific guidelines. 489 00:22:25,177 --> 00:22:25,777 >> little: thanks, lisa. 490 00:22:25,777 --> 00:22:28,346 Good afternoon, chair cruz, 491 00:22:28,346 --> 00:22:30,382 commissioners, and executive 492 00:22:30,382 --> 00:22:32,017 director wesley. 493 00:22:32,017 --> 00:22:34,186 I'm happy to discuss the pilot 494 00:22:34,186 --> 00:22:35,520 program guidelines with you. 495 00:22:35,520 --> 00:22:37,956 As lisa mentioned, one of the 496 00:22:37,956 --> 00:22:39,390 big goals of this pilot is for 497 00:22:39,390 --> 00:22:42,427 us to really -- and for the city 498 00:22:42,427 --> 00:22:44,862 to get a better understanding of 499 00:22:44,862 --> 00:22:47,532 how to value that embodied 500 00:22:47,532 --> 00:22:49,767 carbon that is contained in 501 00:22:49,767 --> 00:22:51,203 existing buildings. 502 00:22:51,203 --> 00:22:52,403 And then how repurposing that 503 00:22:52,403 --> 00:22:54,406 does contribute to the city's 504 00:22:54,406 --> 00:22:55,207 climate action goals. 505 00:22:55,207 --> 00:22:56,675 And also we can get a better 506 00:22:56,675 --> 00:22:57,976 understanding of what those 507 00:22:57,976 --> 00:22:59,211 technical challenges are. 508 00:22:59,211 --> 00:23:00,412 And so that is one of the things 509 00:23:00,412 --> 00:23:01,680 that we're trying to accomplish 510 00:23:01,680 --> 00:23:03,748 here in addition to being able 511 00:23:03,748 --> 00:23:06,117 to revitalize, you know, 512 00:23:06,117 --> 00:23:08,353 downtown by the reuse of some of 513 00:23:08,353 --> 00:23:09,454 those office buildings. 514 00:23:09,454 --> 00:23:11,556 And so the pilot program 515 00:23:11,556 --> 00:23:13,592 guidelines were put into place 516 00:23:13,592 --> 00:23:14,593 to help to reach those goals. 517 00:23:14,593 --> 00:23:17,128 And so the program is really 518 00:23:17,128 --> 00:23:19,197 targeted for projects of 20 519 00:23:19,197 --> 00:23:19,664 units or more. 520 00:23:19,664 --> 00:23:21,766 So of course it requires 521 00:23:21,766 --> 00:23:22,834 inclusionary housing to be a 522 00:23:22,834 --> 00:23:23,902 component of that. 523 00:23:23,902 --> 00:23:26,505 And the funding is broken down 524 00:23:26,505 --> 00:23:28,139 into two tranches. 525 00:23:28,139 --> 00:23:32,043 And so the initial is $60,000 526 00:23:32,043 --> 00:23:34,846 per unit just for the office 527 00:23:34,846 --> 00:23:36,914 residential conversion piece. 528 00:23:36,914 --> 00:23:38,516 That's of course the piece that 529 00:23:38,516 --> 00:23:40,852 then captures that embodied 530 00:23:40,852 --> 00:23:42,320 carbon savings that we're trying 531 00:23:42,320 --> 00:23:43,288 to realize. 532 00:23:43,288 --> 00:23:45,991 But then there's an additional 533 00:23:45,991 --> 00:23:52,030 $25,000 per unit of the -- that 534 00:23:52,030 --> 00:23:52,697 the project can receive. 535 00:23:52,697 --> 00:23:54,933 And that's based on it meeting 536 00:23:54,933 --> 00:23:55,967 some of those energy efficiency 537 00:23:55,967 --> 00:23:56,801 measures that are focused on 538 00:23:56,801 --> 00:24:00,405 things like the hvac systems and 539 00:24:00,405 --> 00:24:01,539 other efficiency systems there 540 00:24:01,539 --> 00:24:02,707 that can actually contribute to 541 00:24:02,707 --> 00:24:05,110 some of that operational carbon 542 00:24:05,110 --> 00:24:07,011 savings that will be analyzed 543 00:24:07,011 --> 00:24:09,581 throughout this pilot program. 544 00:24:09,581 --> 00:24:13,685 One of the things that a couple 545 00:24:13,685 --> 00:24:14,385 requirements that the bar is 546 00:24:14,385 --> 00:24:16,054 having -- will have to comply 547 00:24:16,054 --> 00:24:16,254 with. 548 00:24:16,254 --> 00:24:19,523 One is that the rents will be 549 00:24:19,523 --> 00:24:22,260 maintained at 60 to 120% ami 550 00:24:22,260 --> 00:24:25,864 over a period of ten years. 551 00:24:25,864 --> 00:24:27,532 The bar can receive conditional 552 00:24:27,532 --> 00:24:30,435 loan for giveness over that 553 00:24:30,435 --> 00:24:32,270 ten-year period if they maintain 554 00:24:32,270 --> 00:24:33,337 rents at that level. 555 00:24:33,337 --> 00:24:36,408 And that's something that they 556 00:24:36,408 --> 00:24:38,009 will annually have to report on, 557 00:24:38,009 --> 00:24:40,144 we'll have an opportunity to 558 00:24:40,144 --> 00:24:41,346 look at their rent rolls, et 559 00:24:41,346 --> 00:24:44,249 cetera, to verify that that's 560 00:24:44,249 --> 00:24:44,549 happening. 561 00:24:44,549 --> 00:24:46,217 But really the big thing that we 562 00:24:46,217 --> 00:24:47,652 want to get from them in 563 00:24:47,652 --> 00:24:49,487 addition to this is that we 564 00:24:49,487 --> 00:24:51,089 really want to have information 565 00:24:51,089 --> 00:24:53,124 about the conversion project 566 00:24:53,124 --> 00:24:53,425 itself. 567 00:24:53,425 --> 00:24:55,226 We really want to have access to 568 00:24:55,226 --> 00:24:56,628 that project data. 569 00:24:56,628 --> 00:24:58,396 You know, what were the costs, 570 00:24:58,396 --> 00:25:00,799 what was the equipment that was 571 00:25:00,799 --> 00:25:03,001 installed, the specifications of 572 00:25:03,001 --> 00:25:04,569 that, who were the business -- 573 00:25:04,569 --> 00:25:06,170 the building vendors that you 574 00:25:06,170 --> 00:25:07,472 worked with. 575 00:25:07,472 --> 00:25:09,173 And they'll also be required to 576 00:25:09,173 --> 00:25:11,175 participate in embodied carbon 577 00:25:11,175 --> 00:25:12,110 study. 578 00:25:12,110 --> 00:25:14,112 All of this information is now 579 00:25:14,112 --> 00:25:16,080 what will be used to help us to 580 00:25:16,080 --> 00:25:17,782 really evaluate the 581 00:25:17,782 --> 00:25:20,652 effectiveness of this tool and 582 00:25:20,652 --> 00:25:22,721 so that we can actually measure, 583 00:25:22,721 --> 00:25:24,289 then, what those savings were 584 00:25:24,289 --> 00:25:25,957 both from the embodied carbon 585 00:25:25,957 --> 00:25:28,426 perspective and also from the 586 00:25:28,426 --> 00:25:29,393 operational carbon savings. 587 00:25:29,393 --> 00:25:31,997 And so really excited to see 588 00:25:31,997 --> 00:25:34,932 kind of the results of that. 589 00:25:34,932 --> 00:25:42,273 Next slide, please. 590 00:25:42,273 --> 00:25:44,175 Now we'll talk about the anchor 591 00:25:44,175 --> 00:25:45,410 destination program. 592 00:25:45,410 --> 00:25:46,745 Lisa, do you want me just to 593 00:25:46,745 --> 00:25:47,779 move forward with this piece? 594 00:25:47,779 --> 00:25:51,249 Do you want to talk a little bit 595 00:25:51,249 --> 00:25:51,816 about this? 596 00:25:51,816 --> 00:25:53,618 >> abuaf: you're doing great, 597 00:25:53,618 --> 00:25:53,885 kay. 598 00:25:53,885 --> 00:25:56,021 >> little: okay, great. 599 00:25:56,021 --> 00:25:56,221 Okay. 600 00:25:56,221 --> 00:25:58,423 So our anchor destination 601 00:25:58,423 --> 00:26:01,225 program, here this gives us an 602 00:26:01,225 --> 00:26:05,163 opportunity to provide some pcef 603 00:26:05,163 --> 00:26:06,097 funding for some of those 604 00:26:06,097 --> 00:26:07,499 projects that are much larger 605 00:26:07,499 --> 00:26:10,101 than would qualify for b grant 606 00:26:10,101 --> 00:26:10,368 program. 607 00:26:10,368 --> 00:26:12,503 The b grant program kind of 608 00:26:12,503 --> 00:26:15,707 limits the recipients of pcef 609 00:26:15,707 --> 00:26:17,241 funding to buildings that are 610 00:26:17,241 --> 00:26:19,611 less than 40,000 square feet. 611 00:26:19,611 --> 00:26:21,246 And so then buildings that are 612 00:26:21,246 --> 00:26:22,313 above that really don't have 613 00:26:22,313 --> 00:26:23,915 much of an opportunity to take 614 00:26:23,915 --> 00:26:25,983 advantage of that program. 615 00:26:25,983 --> 00:26:28,153 The anchor destination program 616 00:26:28,153 --> 00:26:29,688 is really targeted specifically 617 00:26:29,688 --> 00:26:32,724 toward what we call anchor 618 00:26:32,724 --> 00:26:33,057 destinations. 619 00:26:33,057 --> 00:26:35,660 And so it would be those 620 00:26:35,660 --> 00:26:36,560 destinations in the city of 621 00:26:36,560 --> 00:26:41,232 portland that really do help to 622 00:26:41,232 --> 00:26:42,967 drive traffic to surrounding 623 00:26:42,967 --> 00:26:44,069 consumer businesses. 624 00:26:44,069 --> 00:26:46,771 We're looking at those at annual 625 00:26:46,771 --> 00:26:48,573 foot traffic half a million or 626 00:26:48,573 --> 00:26:48,773 more. 627 00:26:48,773 --> 00:26:50,174 Which is something that we will 628 00:26:50,174 --> 00:26:51,710 really evaluate from our side. 629 00:26:51,710 --> 00:26:53,211 But we want to see that they are 630 00:26:53,211 --> 00:26:54,445 actually having a positive 631 00:26:54,445 --> 00:26:57,148 impact on those businesses 632 00:26:57,148 --> 00:26:59,084 around the area and that it's 633 00:26:59,084 --> 00:27:01,186 not a franchise or a subsidiary 634 00:27:01,186 --> 00:27:02,887 of a national firm. 635 00:27:02,887 --> 00:27:06,024 Next slide, please. 636 00:27:06,024 --> 00:27:07,258 So as we're thinking about these 637 00:27:07,258 --> 00:27:09,027 types of projects, one that 638 00:27:09,027 --> 00:27:11,863 comes to mind is the james baird 639 00:27:11,863 --> 00:27:13,164 public market, for example, and 640 00:27:13,164 --> 00:27:15,266 just where it's located and some 641 00:27:15,266 --> 00:27:17,168 of the benefits that it will 642 00:27:17,168 --> 00:27:19,838 bring to the area with that foot 643 00:27:19,838 --> 00:27:20,105 traffic. 644 00:27:20,105 --> 00:27:21,906 And they're actually hoping to, 645 00:27:21,906 --> 00:27:25,210 perhaps, receive some of this 646 00:27:25,210 --> 00:27:28,413 funding so they can then build 647 00:27:28,413 --> 00:27:28,980 out some of the efficiency 648 00:27:28,980 --> 00:27:29,547 measures within their own 649 00:27:29,547 --> 00:27:30,448 building and also perhaps 650 00:27:30,448 --> 00:27:31,649 allocate some of that to the 651 00:27:31,649 --> 00:27:34,419 vendors that will be in the 652 00:27:34,419 --> 00:27:34,886 building. 653 00:27:34,886 --> 00:27:38,056 This loan is structured as a 654 00:27:38,056 --> 00:27:39,157 five-year forgivable loan in 655 00:27:39,157 --> 00:27:40,759 order to get forgiveness, they 656 00:27:40,759 --> 00:27:42,160 have to continue to operate in 657 00:27:42,160 --> 00:27:43,161 that location and has to 658 00:27:43,161 --> 00:27:45,596 continue to be a locally-owned 659 00:27:45,596 --> 00:27:45,863 business. 660 00:27:45,863 --> 00:27:47,232 And it will have an interest 661 00:27:47,232 --> 00:27:50,301 rate that is market driven, very 662 00:27:50,301 --> 00:27:53,938 similar to what we do on our 663 00:27:53,938 --> 00:27:54,271 other loans. 664 00:27:54,271 --> 00:27:54,872 This one will have a maximum 665 00:27:54,872 --> 00:27:58,409 loan amount of 2.5 million. 666 00:27:58,409 --> 00:27:59,644 And the borrowing entity will be 667 00:27:59,644 --> 00:28:02,246 required to contribute 25% of 668 00:28:02,246 --> 00:28:04,082 that eligible cost from another 669 00:28:04,082 --> 00:28:06,251 source other than our anchor 670 00:28:06,251 --> 00:28:06,718 destination funding. 671 00:28:06,718 --> 00:28:08,452 And then they also must enroll 672 00:28:08,452 --> 00:28:12,590 in the portland needs progress 673 00:28:12,590 --> 00:28:14,425 and provide annual reporting on 674 00:28:14,425 --> 00:28:15,793 their participation in that 675 00:28:15,793 --> 00:28:16,194 program. 676 00:28:16,194 --> 00:28:18,229 And so we're also very excited 677 00:28:18,229 --> 00:28:20,765 about this program, and how it 678 00:28:20,765 --> 00:28:22,333 can really benefit those 679 00:28:22,333 --> 00:28:25,703 businesses that though drive 680 00:28:25,703 --> 00:28:28,506 tourism in our downtown area. 681 00:28:28,506 --> 00:28:30,175 So that's an overview of the 682 00:28:30,175 --> 00:28:30,475 guidelines. 683 00:28:30,475 --> 00:28:31,809 Next slide, please. 684 00:28:31,809 --> 00:28:36,848 Are there any questions? 685 00:28:36,848 --> 00:28:41,953 >> cruz: any questions from the 686 00:28:41,953 --> 00:28:42,287 commissioners? 687 00:28:42,287 --> 00:28:42,554 Comments? 688 00:28:42,554 --> 00:28:43,755 >> this is felisa. 689 00:28:43,755 --> 00:28:46,557 I wanted to just follow up and 690 00:28:46,557 --> 00:28:49,593 make sure that we will get a 691 00:28:49,593 --> 00:28:50,929 report back on sort of what are 692 00:28:50,929 --> 00:28:52,963 the projects and things that 693 00:28:52,963 --> 00:28:58,069 have happened as part of this. 694 00:28:58,069 --> 00:28:59,237 >> little: yes, we will report 695 00:28:59,237 --> 00:29:00,571 back to the board to let you 696 00:29:00,571 --> 00:29:00,772 know. 697 00:29:00,772 --> 00:29:03,775 We have the two buildings right 698 00:29:03,775 --> 00:29:06,377 now within the pilot and we will 699 00:29:06,377 --> 00:29:11,216 report back on the outcomes on 700 00:29:11,216 --> 00:29:12,450 those projects. 701 00:29:12,450 --> 00:29:13,818 >> I was also wondering how are 702 00:29:13,818 --> 00:29:14,952 we thinking strategically about 703 00:29:14,952 --> 00:29:16,821 the office to residential 704 00:29:16,821 --> 00:29:18,122 conversions and the location of 705 00:29:18,122 --> 00:29:19,690 those projects and some of the 706 00:29:19,690 --> 00:29:21,492 other priorities we have in the 707 00:29:21,492 --> 00:29:25,430 city in terms of activation of 708 00:29:25,430 --> 00:29:26,230 neighborhoods or acute locations 709 00:29:26,230 --> 00:29:31,035 that we think are critical? 710 00:29:31,035 --> 00:29:31,201 '. 711 00:29:31,201 --> 00:29:31,769 >> abuaf: that's a great 712 00:29:31,769 --> 00:29:33,104 question, commissioner. 713 00:29:33,104 --> 00:29:34,739 I'm going to see if sam's also 714 00:29:34,739 --> 00:29:35,873 available just so you hear the 715 00:29:35,873 --> 00:29:37,141 perspective from pcef. 716 00:29:37,141 --> 00:29:39,143 We're really thinking about this 717 00:29:39,143 --> 00:29:41,913 as a pilot moment and we're 718 00:29:41,913 --> 00:29:42,947 going to learn from it. 719 00:29:42,947 --> 00:29:44,682 Kay shared a little bit about 720 00:29:44,682 --> 00:29:45,516 this. 721 00:29:45,516 --> 00:29:46,317 We're really asking these 722 00:29:46,317 --> 00:29:47,518 particular projects to dive deep 723 00:29:47,518 --> 00:29:48,786 with us in data analysis and 724 00:29:48,786 --> 00:29:52,957 help inform and right size the 725 00:29:52,957 --> 00:29:54,492 per unit calculation relative to 726 00:29:54,492 --> 00:29:56,693 the ghg benefits. 727 00:29:56,693 --> 00:30:00,265 I would say we are in very early 728 00:30:00,265 --> 00:30:02,800 conversations of should there be 729 00:30:02,800 --> 00:30:03,434 additional funds available under 730 00:30:03,434 --> 00:30:05,670 this strategic program to come 731 00:30:05,670 --> 00:30:09,073 over to prosper, they we would 732 00:30:09,073 --> 00:30:11,109 want to release those fairly 733 00:30:11,109 --> 00:30:12,377 competitively and then have 734 00:30:12,377 --> 00:30:12,644 criteria. 735 00:30:12,644 --> 00:30:14,846 Whether that's kind of based on 736 00:30:14,846 --> 00:30:16,047 a corridor that conversion 737 00:30:16,047 --> 00:30:19,284 project is on or it's readiness 738 00:30:19,284 --> 00:30:21,485 to really convert and/or 739 00:30:21,485 --> 00:30:22,020 leverage dollars. 740 00:30:22,020 --> 00:30:23,588 I think it's important, but 741 00:30:23,588 --> 00:30:24,989 we've just started those 742 00:30:24,989 --> 00:30:26,357 conversations, and I would say 743 00:30:26,357 --> 00:30:27,926 right now we're in the learning 744 00:30:27,926 --> 00:30:29,360 mode before we jump full in to 745 00:30:29,360 --> 00:30:31,062 scaling the program. 746 00:30:31,062 --> 00:30:32,530 I don't know, sam, if there's 747 00:30:32,530 --> 00:30:33,164 anything else. 748 00:30:33,164 --> 00:30:39,237 Just trying to reflect on our 749 00:30:39,237 --> 00:30:39,604 conversations. 750 00:30:39,604 --> 00:30:41,539 >> sam: the nature that we're 751 00:30:41,539 --> 00:30:44,375 talking the pilot initially, 752 00:30:44,375 --> 00:30:45,743 it's the products that give us 753 00:30:45,743 --> 00:30:47,879 those opportunities to give the 754 00:30:47,879 --> 00:30:48,680 emission reductions and 755 00:30:48,680 --> 00:30:50,781 understand those community 756 00:30:50,781 --> 00:30:51,048 benefits. 757 00:30:51,048 --> 00:30:51,615 Absolutely I would say our 758 00:30:51,615 --> 00:30:52,717 interests as we move forward and 759 00:30:52,717 --> 00:30:53,785 learn from the pilot is figuring 760 00:30:53,785 --> 00:30:56,321 out if there are geographic 761 00:30:56,321 --> 00:30:59,257 boundaries or prioritization to 762 00:30:59,257 --> 00:31:01,025 certainly motivate -- motivate 763 00:31:01,025 --> 00:31:01,525 activities in certain 764 00:31:01,525 --> 00:31:02,794 neighborhoods, locations, that's 765 00:31:02,794 --> 00:31:03,995 something I'd love to 766 00:31:03,995 --> 00:31:05,129 certainly -- I'd love for that 767 00:31:05,129 --> 00:31:06,030 to be part of the conversation. 768 00:31:06,030 --> 00:31:08,766 But in this moment we know that 769 00:31:08,766 --> 00:31:10,935 part of it is just getting 770 00:31:10,935 --> 00:31:11,936 actors to come to the table so 771 00:31:11,936 --> 00:31:13,237 we can learn. 772 00:31:13,237 --> 00:31:16,007 >> if I can get on a soapbox for 773 00:31:16,007 --> 00:31:17,341 a second, and chair cruz, and 774 00:31:17,341 --> 00:31:18,742 kind of give some comments on 775 00:31:18,742 --> 00:31:18,909 it. 776 00:31:18,909 --> 00:31:22,413 I have a lot of opinions about 777 00:31:22,413 --> 00:31:24,415 office to residential conversion 778 00:31:24,415 --> 00:31:27,251 specifically in portland. 779 00:31:27,251 --> 00:31:27,818 I know that we've all been 780 00:31:27,818 --> 00:31:29,253 reading for years about office 781 00:31:29,253 --> 00:31:30,888 to residential conversions 782 00:31:30,888 --> 00:31:32,223 happening in other cities across 783 00:31:32,223 --> 00:31:34,425 the u.s., especially as we've 784 00:31:34,425 --> 00:31:36,260 seen a demise in the office 785 00:31:36,260 --> 00:31:36,494 demand. 786 00:31:36,494 --> 00:31:38,362 And I think it's a really 787 00:31:38,362 --> 00:31:39,964 amazing way to reuse and 788 00:31:39,964 --> 00:31:41,632 repurpose buildings that could 789 00:31:41,632 --> 00:31:43,734 be newer or older or have 790 00:31:43,734 --> 00:31:45,269 historical or community 791 00:31:45,269 --> 00:31:46,704 significance like has been 792 00:31:46,704 --> 00:31:48,205 happening -- I loved in one in 793 00:31:48,205 --> 00:31:50,074 new york city about 15 years ago 794 00:31:50,074 --> 00:31:51,142 when I first got there after 795 00:31:51,142 --> 00:31:51,709 graduate school. 796 00:31:51,709 --> 00:31:53,010 So it's been happening for a 797 00:31:53,010 --> 00:31:53,244 while. 798 00:31:53,244 --> 00:31:56,381 And I think that a really 799 00:31:56,381 --> 00:31:58,182 exciting thing, as all of you I 800 00:31:58,182 --> 00:32:00,418 think here know, it's a really 801 00:32:00,418 --> 00:32:02,754 expensive way to produce 802 00:32:02,754 --> 00:32:05,123 housing, especially in a seismic 803 00:32:05,123 --> 00:32:05,323 zone. 804 00:32:05,323 --> 00:32:07,225 And we and our other western 805 00:32:07,225 --> 00:32:10,962 states are in a seismic zone. 806 00:32:10,962 --> 00:32:12,196 And recently portland made the 807 00:32:12,196 --> 00:32:15,133 decision not to adopt some of 808 00:32:15,133 --> 00:32:16,567 the coade changes that our 809 00:32:16,567 --> 00:32:17,969 neighbors in washington and 810 00:32:17,969 --> 00:32:19,337 california have adopted to try 811 00:32:19,337 --> 00:32:22,106 to make office to residential 812 00:32:22,106 --> 00:32:23,508 conversions more feasible 813 00:32:23,508 --> 00:32:24,909 financially and also just from 814 00:32:24,909 --> 00:32:28,146 an administrative and logistics 815 00:32:28,146 --> 00:32:29,914 standpoint in favor of 816 00:32:29,914 --> 00:32:32,350 maintaining more stringent code 817 00:32:32,350 --> 00:32:34,519 requirements. 818 00:32:34,519 --> 00:32:35,219 So for me, there is a 819 00:32:35,219 --> 00:32:37,288 misalignment of what we're 820 00:32:37,288 --> 00:32:37,922 trying to do in portland with 821 00:32:37,922 --> 00:32:38,456 this effort. 822 00:32:38,456 --> 00:32:40,124 On the one hand, here we are 823 00:32:40,124 --> 00:32:42,260 trying to push pilot and 824 00:32:42,260 --> 00:32:43,527 learning for office residential 825 00:32:43,527 --> 00:32:44,628 conversion to try to enable it 826 00:32:44,628 --> 00:32:46,664 to happen in our city. 827 00:32:46,664 --> 00:32:48,466 While our code partners at the 828 00:32:48,466 --> 00:32:50,668 city are not helping us be 829 00:32:50,668 --> 00:32:51,903 innovative and progressive in 830 00:32:51,903 --> 00:32:53,337 ways that are being adopted in 831 00:32:53,337 --> 00:32:54,439 other cities. 832 00:32:54,439 --> 00:32:56,207 So this is one thing that I find 833 00:32:56,207 --> 00:32:58,076 to be a rub. 834 00:32:58,076 --> 00:32:59,376 The second thing, and it's come 835 00:32:59,376 --> 00:33:02,446 up with other topics related to 836 00:33:02,446 --> 00:33:03,448 tif and other things. 837 00:33:03,448 --> 00:33:05,149 I would love for us to not think 838 00:33:05,149 --> 00:33:08,152 about this as simply a climate 839 00:33:08,152 --> 00:33:10,855 change initiative. 840 00:33:10,855 --> 00:33:11,355 But to think about the 841 00:33:11,355 --> 00:33:13,224 multilayering impact that our 842 00:33:13,224 --> 00:33:14,625 subsidies for this project can 843 00:33:14,625 --> 00:33:16,093 actually offer to our 844 00:33:16,093 --> 00:33:18,362 communities by making sure that 845 00:33:18,362 --> 00:33:19,430 we choose buildings and 846 00:33:19,430 --> 00:33:25,469 locations that really need 847 00:33:25,469 --> 00:33:25,769 activation. 848 00:33:25,769 --> 00:33:27,337 Where a specific block or 849 00:33:27,337 --> 00:33:28,472 neighborhood has strategic 850 00:33:28,472 --> 00:33:29,707 importance for activation, and 851 00:33:29,707 --> 00:33:32,142 also in addition to that, 852 00:33:32,142 --> 00:33:34,278 obviously, activating a vacant 853 00:33:34,278 --> 00:33:35,780 commercial building and the 854 00:33:35,780 --> 00:33:36,814 embodied carbon benefits. 855 00:33:36,814 --> 00:33:39,283 So I think this is all 856 00:33:39,283 --> 00:33:40,418 especially important as we think 857 00:33:40,418 --> 00:33:41,985 about the fiscal issues that our 858 00:33:41,985 --> 00:33:43,287 city is facing financially with 859 00:33:43,287 --> 00:33:47,024 decreased revenue, like we need 860 00:33:47,024 --> 00:33:49,627 to be more incisive with how we 861 00:33:49,627 --> 00:33:50,461 spend our money. 862 00:33:50,461 --> 00:33:53,364 And I want to make sure that's 863 00:33:53,364 --> 00:33:53,964 being considered as we think 864 00:33:53,964 --> 00:33:58,703 about this loan program. 865 00:33:58,703 --> 00:34:00,438 >> cruz: thank you. 866 00:34:00,438 --> 00:34:03,808 Any -- any response from anyone 867 00:34:03,808 --> 00:34:07,844 on that or further comments? 868 00:34:07,844 --> 00:34:07,978 . 869 00:34:07,978 --> 00:34:11,248 >> sam: if you don't mind me 870 00:34:11,248 --> 00:34:13,984 just responding, chair cruz. 871 00:34:13,984 --> 00:34:17,388 Sam baraso here clean energy 872 00:34:17,388 --> 00:34:17,588 fund. 873 00:34:17,588 --> 00:34:20,224 I think there's a wholehearted 874 00:34:20,224 --> 00:34:20,858 agreement on the complexities of 875 00:34:20,858 --> 00:34:22,793 this and the fact that without a 876 00:34:22,793 --> 00:34:24,161 doubt there's a significant -- 877 00:34:24,161 --> 00:34:28,599 this is in no small part a 878 00:34:28,599 --> 00:34:29,299 significant sub-saharan effort 879 00:34:29,299 --> 00:34:30,601 to make those projects happen. 880 00:34:30,601 --> 00:34:31,702 I think there's a strong 881 00:34:31,702 --> 00:34:33,870 interest on our side to not -- 882 00:34:33,870 --> 00:34:36,307 obviously I speak to the climate 883 00:34:36,307 --> 00:34:37,675 benefits because that's where I 884 00:34:37,675 --> 00:34:39,243 think most the learnings will be 885 00:34:39,243 --> 00:34:40,478 from a technical perspective 886 00:34:40,478 --> 00:34:41,279 what's going to happen. 887 00:34:41,279 --> 00:34:42,346 But without a doubt those 888 00:34:42,346 --> 00:34:45,316 community benefits, yes, there's 889 00:34:45,316 --> 00:34:46,450 the jobs created and the work 890 00:34:46,450 --> 00:34:47,952 that happens in the projects. 891 00:34:47,952 --> 00:34:50,922 But I think there's a lot of 892 00:34:50,922 --> 00:34:51,655 eagerness on our side to 893 00:34:51,655 --> 00:34:53,424 understand that as well, and 894 00:34:53,424 --> 00:34:55,159 drive more of those. 895 00:34:55,159 --> 00:34:56,160 >> cruz: thank you. 896 00:34:56,160 --> 00:34:59,163 Is there any -- is there any, 897 00:34:59,163 --> 00:35:01,132 you know, encouragement or 898 00:35:01,132 --> 00:35:02,933 coordination coming from our 899 00:35:02,933 --> 00:35:04,769 side toward planning or anybody 900 00:35:04,769 --> 00:35:09,140 else with respect to the code 901 00:35:09,140 --> 00:35:10,007 change issues that commissioner 902 00:35:10,007 --> 00:35:10,908 slick mentioned? 903 00:35:10,908 --> 00:35:12,643 Are we engaging on that at all 904 00:35:12,643 --> 00:35:14,278 or just kind of sticking to our 905 00:35:14,278 --> 00:35:22,687 own program? 906 00:35:22,687 --> 00:35:24,956 >> abuaf: that's a great 907 00:35:24,956 --> 00:35:25,223 question. 908 00:35:25,223 --> 00:35:26,023 If you look at the report that 909 00:35:26,023 --> 00:35:28,659 got issued, it took a look at 910 00:35:28,659 --> 00:35:30,995 the regulations that was 911 00:35:30,995 --> 00:35:31,295 mentioned. 912 00:35:31,295 --> 00:35:33,698 We did open it up with the mayor 913 00:35:33,698 --> 00:35:35,666 and council at that time and 914 00:35:35,666 --> 00:35:36,834 there was not an interest in 915 00:35:36,834 --> 00:35:37,367 pursuing those further. 916 00:35:37,367 --> 00:35:39,570 Now we have a new mayor and 917 00:35:39,570 --> 00:35:41,004 council and it's something we 918 00:35:41,004 --> 00:35:41,572 can reopen. 919 00:35:41,572 --> 00:35:43,073 I would say to sam it's 920 00:35:43,073 --> 00:35:44,909 something we can do with our 921 00:35:44,909 --> 00:35:46,310 partnership with the planning 922 00:35:46,310 --> 00:35:47,245 and sustainability. 923 00:35:47,245 --> 00:35:48,979 It's mostly building code than 924 00:35:48,979 --> 00:35:50,715 it is land use code, but I do 925 00:35:50,715 --> 00:35:51,749 think it's something we could 926 00:35:51,749 --> 00:35:53,951 open up also with cornell and -- 927 00:35:53,951 --> 00:35:57,855 sorry, executive director wesley 928 00:35:57,855 --> 00:36:02,860 and our deputy city 929 00:36:02,860 --> 00:36:03,427 administrator's certainly 930 00:36:03,427 --> 00:36:04,428 another place to start. 931 00:36:04,428 --> 00:36:04,828 >> cruz: great. 932 00:36:04,828 --> 00:36:06,030 I don't know how the rest of the 933 00:36:06,030 --> 00:36:07,331 board feels about it, but I 934 00:36:07,331 --> 00:36:09,033 think I would encourage that. 935 00:36:09,033 --> 00:36:11,902 would be great. 936 00:36:11,902 --> 00:36:12,770 >> I agree. 937 00:36:12,770 --> 00:36:15,706 I feel like the more alignment 938 00:36:15,706 --> 00:36:16,340 that we're driving at the city 939 00:36:16,340 --> 00:36:16,974 and the restructuring of the 940 00:36:16,974 --> 00:36:18,676 city was meant to create that 941 00:36:18,676 --> 00:36:18,976 alignment. 942 00:36:18,976 --> 00:36:20,311 I think is really important. 943 00:36:20,311 --> 00:36:24,415 So it's one of the reasons why I 944 00:36:24,415 --> 00:36:26,083 actually really am loving 945 00:36:26,083 --> 00:36:26,683 this -- sort of this funding 946 00:36:26,683 --> 00:36:28,052 braiding and sort of 947 00:36:28,052 --> 00:36:28,986 streamlining these requests and 948 00:36:28,986 --> 00:36:31,956 how they come through this 949 00:36:31,956 --> 00:36:32,623 process. 950 00:36:32,623 --> 00:36:34,825 Because it is exactly, I feel 951 00:36:34,825 --> 00:36:37,928 like what our city should be 952 00:36:37,928 --> 00:36:38,161 doing. 953 00:36:38,161 --> 00:36:40,531 And so hopefully we can get the 954 00:36:40,531 --> 00:36:44,669 other bureaus on board. 955 00:36:44,669 --> 00:36:47,004 >> cruz: great. 956 00:36:47,004 --> 00:36:47,471 Any further comments? 957 00:36:47,471 --> 00:36:51,142 Questions? 958 00:36:51,142 --> 00:36:51,976 Okay then. 959 00:36:51,976 --> 00:36:54,812 Well, we actually have two 960 00:36:54,812 --> 00:36:56,280 resolutions with this, you know, 961 00:36:56,280 --> 00:37:00,451 covering both of the program 962 00:37:00,451 --> 00:37:00,751 guidelines. 963 00:37:00,751 --> 00:37:01,819 So would someone give me just 964 00:37:01,819 --> 00:37:04,554 one moment to find where I'm at. 965 00:37:04,554 --> 00:37:06,490 Would someone like to make a 966 00:37:06,490 --> 00:37:15,266 motion to approve resolution 967 00:37:15,266 --> 00:37:18,269 number 7627? 968 00:37:18,269 --> 00:37:18,536 Please. 969 00:37:18,536 --> 00:37:19,470 >> so moved. 970 00:37:19,470 --> 00:37:20,170 >> cruz: great, thank you. 971 00:37:20,170 --> 00:37:23,073 Do I have a second? 972 00:37:23,073 --> 00:37:23,407 >> second. 973 00:37:23,407 --> 00:37:23,974 >> cruz: okay. 974 00:37:23,974 --> 00:37:25,309 All those in favor -- or any 975 00:37:25,309 --> 00:37:26,844 further discussion in if not, 976 00:37:26,844 --> 00:37:30,414 then all those in favor of 977 00:37:30,414 --> 00:37:35,152 approving resolution 7627. 978 00:37:35,152 --> 00:37:35,352 Aye. 979 00:37:35,352 --> 00:37:35,820 [chorus of ayes] 980 00:37:35,820 --> 00:37:38,723 >> cruz: great, okay. 981 00:37:38,723 --> 00:37:42,026 I think everybody voted 982 00:37:42,026 --> 00:37:42,459 affirmatively. 983 00:37:42,459 --> 00:37:44,795 Maybe commissioner slick, did 984 00:37:44,795 --> 00:37:46,230 you vote? 985 00:37:46,230 --> 00:37:47,464 >> slick: I'm sorry, gustavo, 986 00:37:47,464 --> 00:37:50,300 which one -- is that for the 987 00:37:50,300 --> 00:37:52,837 helping conversion? 988 00:37:52,837 --> 00:37:53,170 >> cruz: yes. 989 00:37:53,170 --> 00:37:54,271 >> slick: I'm going to abstain 990 00:37:54,271 --> 00:37:54,939 on that one. 991 00:37:54,939 --> 00:37:56,640 >> cruz: so four out of five 992 00:37:56,640 --> 00:37:58,342 with one abstention. 993 00:37:58,342 --> 00:37:58,542 Okay. 994 00:37:58,542 --> 00:38:01,412 And then resolution number 7628, 995 00:38:01,412 --> 00:38:02,947 would someone like to make a 996 00:38:02,947 --> 00:38:07,084 motion on that one? 997 00:38:07,084 --> 00:38:09,720 >> I so move. 998 00:38:09,720 --> 00:38:10,488 >> cruz: thank you. 999 00:38:10,488 --> 00:38:11,755 A second? 1000 00:38:11,755 --> 00:38:12,690 >> second. 1001 00:38:12,690 --> 00:38:13,290 >> cruz: thank you. 1002 00:38:13,290 --> 00:38:14,024 All right. 1003 00:38:14,024 --> 00:38:15,793 All those in favor of approving 1004 00:38:15,793 --> 00:38:19,997 resolution number 7628. 1005 00:38:19,997 --> 00:38:20,364 [chorus of ayes] 1006 00:38:20,364 --> 00:38:21,565 >> cruz: great. 1007 00:38:21,565 --> 00:38:21,832 Okay. 1008 00:38:21,832 --> 00:38:23,267 Unanimous on that one. 1009 00:38:23,267 --> 00:38:24,001 All right. 1010 00:38:24,001 --> 00:38:27,238 Well thanks very much. 1011 00:38:27,238 --> 00:38:31,341 Any other comments? 1012 00:38:31,341 --> 00:38:31,742 Okay. 1013 00:38:31,742 --> 00:38:33,110 There being no further items on 1014 00:38:33,110 --> 00:38:34,912 the agenda, the prosper portland 1015 00:38:34,912 --> 00:38:35,879 board of commissioners meeting 1016 00:38:35,879 --> 00:38:39,283 for this month is now adjourned. 1017 00:38:39,283 --> 00:38:40,918 So thanks very much, everybody. 1018 00:38:40,918 --> 00:38:41,986 Have a great day. 1019 00:38:41,986 --> 00:38:44,054 See you soon. 1020 00:38:44,054 --> 00:38:44,822 [meeting adjourned]