[1:48] ...
[7:17] » cruz: will you please call
[7:18] the roll.
[7:23] >> commissioner slick.
[7:24] >> slick: here.
[7:30] Commiss
[7:31] commissioner alvarez.
[7:37] >> alvarez: here.
[7:39] >> ted cruz.
[7:40] >> cruz: here.
[7:40] I have a note to read.
[7:42] As provided by state law,
[7:44] prosper portland has provided an
[7:44] opportunity to access and attend
[7:46] this meeting in person.
[7:47] There's a youtube live stream
[7:49] video of the meeting and the
[7:50] public has had an opportunity to
[7:52] arrange in advance to provide
[7:54] virtual testimony.
[7:54] At this time, the public may
[7:55] provide written testimony to the
[7:56] commission by emailing prosper
[8:09] commissioners@prosperportland.us
[8:10] .
[8:10] We've got a short agenda today,
[8:11] but we'll go through a few of
[8:13] our usual items.
[8:14] Item number 2 is commissioner
[8:16] reports.
[8:16] Does anything have anything
[8:17] they'd like to report this
[8:23] month?
[8:24] Okay.
[8:24] Sounds like no.
[8:26] So next we have the executive
[8:29] director report with cornell
[8:29] wesley.
[8:30] Welcome.
[8:31] Cornell.
[8:31] >> wesley: good afternoon,
[8:34] everyone.
[8:34] Last week city council
[8:36] reappointed commissioner stoudamire to the
[8:39] prosper portland board.
[8:40] We are extremely excited about
[8:41] this reappointment.
[8:43] She's been recognized for her
[8:44] expertise in public service,
[8:46] community engagement, and
[8:48] strategic leadership.
[8:49] She currently serves as director
[8:51] of engagement and civil rights
[8:52] for the oregon department of
[8:54] transportation.
[8:54] And so we want to collectively
[8:58] congratulate commissioner opn hr
[9:01] return and thank her for her
[9:04] commitment to not only portland
[9:05] but the city as well.
[9:06] I want to note we're in the
[9:07] middle of roux week.
[9:11] It's a city-wide celebration of
[9:13] food and drink culture for the
[9:15] food obsessed, cocktail
[9:18] enthusiast, avid restaurantgoers
[9:19] and the culinary curious.
[9:21] Now through sunday, octo
[9:25] october 12th, roum week has
[9:27] panels and hands-on experiences
[9:29] highlighting women and food and
[9:30] drink culture.
[9:31] Prosper portland's office of
[9:32] events and film is proud to
[9:34] support this event with
[9:36] technical assistance and a scale
[9:38] up grant.
[9:38] For a full list of events and
[9:42] ticket prices, please visit
[9:45] rouxportland.com.
[9:45] Also of note the office of small
[9:47] business is hosting the october
[9:50] show up for small business event
[9:52] on wednesday, october 15th
[9:53] starting at 5:30 p.m. At the
[9:57] array food hall in the gateway
[9:59] district.
[10:00] Every month the osb team chooses
[10:01] a spot in a different
[10:03] neighborhood or business
[10:04] district and invites everyone to
[10:06] come out and shop, grab a
[10:08] beverage or meal at the small
[10:10] business in that area.
[10:11] No agenda, no speech, just all
[10:14] of us celebrating the amazing
[10:17] businesses that make portland
[10:19] unique.
[10:19] The show up for small bus
[10:35] businbus
[10:36] busbusiness
[10:37] are gone ongoing for all of the
[10:38] sponsors below.
[10:38] Kicking it back to you,
[10:39] commissioner cruz.
[10:39] >> cruz: thank you, wesley.
[10:40] Next up, we have item 4, meeting
[10:44] minutes.
[10:44] Would somebody like to make a
[10:45] motion to approve the
[10:48] september 10, 2025, minutes?
[10:50] Assuming there are no comments.
[10:53] >> so moved.
[10:53] >> cruz: thank you.
[10:54] Is that a second?
[10:57] >> I second.
[10:58] >> cruz: great.
[10:58] All right.
[10:59] All those in favor of approving
[11:03] the minutes.
[11:05] [chorus of ayes]
[11:05] >> cruz: passes unanimously.
[11:06] Thank you so much.
[11:09] Okay.
[11:09] Do we have any public comment
[11:11] for items not on the agenda?
[11:17] Pam?
[11:17] >> feigenbutz: not received.
[11:19] >> cruz: all right.
[11:20] I'll note again as I engsmentio
[11:26] earlier, the public can submit
[11:29] comments to to prosper
[11:34] commissioners@prosperportland.us
[11:34] .
[11:34] Now we're going to take care of
[11:36] housekeeping right off the bat
[11:37] that we didn't have in our
[11:38] written agenda.
[11:39] We'll try to clean a couple
[11:41] things up.
[11:42] With a full board back in place
[11:47] for the first miteeting since t
[11:48] year began, I'd like to add the
[11:50] annual election of officers to
[11:51] the agenda.
[11:51] We've not done that yet.
[11:53] Is there a motion to add this
[11:54] item to the regular agenda?
[11:57] >> so moved.
[11:59] >> cruz: okay.
[11:59] Do we have a second?
[12:02] >> second.
[12:02] >> cruz: great.
[12:03] All those in favor of adding
[12:04] this agenda item.
[12:09] [chorus of ayes]
[12:09] >> cruz: okay.
[12:10] It now joins the agenda.
[12:12] So as required by prosper
[12:15] portland board bylaws, we need
[12:16] to elect officer positions of
[12:18] chair, vice-chair, and
[12:21] treasurer.
[12:21] And would any one of the
[12:22] commissioners like to make a
[12:24] motion in accordance with those
[12:31] requirements?
[12:32] Felisa.
[12:32] >> hagins: I'd love to move tom
[12:35] be re-elected as chair of the
[12:37] board.
[12:39] Commissioner commissioner
[12:40] stoudamire be elected vice-chair
[12:41] as the board.
[12:47] And marcelino alvarez be elected
[12:49] as the treasurer of the board.
[12:51] >> cruz: do we have a second for
[12:53] this motion?
[12:53] >> second.
[12:54] >> cruz: great.
[12:55] Thank you.
[12:56] Okay.
[12:57] So does anyone have any comments
[13:00] or questions or anything they'd
[13:03] like to say?
[13:04] >> hagins: I really appreciate
[13:05] the role that you all are
[13:06] stepping up and playing on the
[13:07] board.
[13:08] I think it's really important
[13:09] and I appreciate that you're
[13:10] putting in the time and effort
[13:11] to do that as well as
[13:15] commissioner slick's engagement
[13:17] in cafe.
[13:17] I just want to give a little
[13:19] shout-out and appreciation to my
[13:21] fellow board members.
[13:22] Thank you very much.
[13:23] >> cruz: thank you, commissioner
[13:25] hagins.
[13:26] Any other comments?
[13:30] >> I want to give a shout out to
[13:35] t
[13:36] tabo.
[13:36] I know he spent a lot of time on
[13:38] prosper and the board.
[13:39] Thank you so much.
[13:42] >> cruz: I have to of course
[13:43] thank all of you for what you're
[13:44] doing and for all of your great
[13:45] work and input and support.
[13:48] So the feeling is mutual.
[13:51] So everybody brings their
[13:53] expertise, and we wouldn't have
[13:54] a great board without that.
[13:55] So really appreciate all of you.
[14:02] So okay then, as board chair --
[14:05] excuse me.
[14:06] We'll go ahead and take a vote
[14:10] then.
[14:10] All those in favor of approving
[14:12] the slate of directors as
[14:16] proposed.
[14:16] [chorus of ayes]
[14:17] >> cruz: okay.
[14:18] Thank you.
[14:20] Okay then.
[14:21] And then as board chair and a
[14:23] member of the prosper portland's
[14:26] standing audit committee
[14:28] pursuant to board
[14:30] resolution 6112, I'd like to
[14:35] appoint commissioner stoudamire
[14:39] fo
[14:39] wesley to the audit commission
[14:40] for this coming year.
[14:42] Hope everybody's okay with that.
[14:43] we go back to our
[14:45] regularly scheduled programming.
[14:46] Now we'll do item 6 -- excuse
[14:48] me, which is now item 7.
[14:49] This is an action item approving
[14:52] building conversion and
[14:54] community anchor destination
[14:59] energy efficiency and loan
[15:01] program guidelines.
[15:03] Lisa abuaf and kay little will
[15:04] both present on these items.
[15:06] Welcome, lisa and kay.
[15:08] >> thanks chair cruz and
[15:10] commissioners.
[15:10] As allison's pulling up the
[15:12] deck, good afternoon.
[15:15] I'm lisa abuaf, director of
[15:16] development and investment with
[15:17] prosper portland.
[15:18] Glad to be joined by kay little
[15:20] who is our investment manager
[15:23] who's staff person shelly hack
[15:25] has been instrumental to putting
[15:26] these program guidelines
[15:28] together.
[15:28] Also wanted to acknowledge that
[15:34] samb
[15:35] sam baraso is here in case the
[15:36] board has any questions, because
[15:37] it's a partnership between
[15:41] prosper portland and pcef and
[15:43] sam leads the clean energy fund
[15:45] work within the bureau of
[15:47] planning and sustainability.
[15:48] Next slide, please.
[15:49] Wanted to honor that we're being
[15:50] efficient with our presentation
[15:52] today, so in fact, this
[15:55] presentation captures what is
[15:57] before you in two separate but
[15:59] related resolutions.
[16:01] So one is to approve guidelines
[16:04] for a central city building
[16:07] conversion pilot loan program.
[16:09] And the second is to approve
[16:12] guidelines for an anchor
[16:14] destination energy efficiency
[16:15] and renewable energy loan
[16:17] program.
[16:21] Next slide.
[16:22] So wanted to highlight that in
[16:24] fact the action that is before
[16:25] the board today implements on
[16:27] two key strategies.
[16:28] I know you're very familiar with
[16:31] advanced portland as our
[16:32] collective economic development
[16:34] strategy for portland.
[16:35] And there are particular
[16:36] outcomes that you see listed
[16:39] here tied to fostering a vibrant
[16:43] central city and neighborhood
[16:44] commercial districts that speak
[16:45] to a number of elements that
[16:46] touch on some of these loan
[16:47] program guidelines from office
[16:49] to residential conversions,
[16:52] providing incentive to support
[16:54] housing production via various
[16:56] means, and then supporting
[16:57] anchor business retention,
[16:58] particularly in the central city
[17:00] as we think about the role that
[17:01] the anchor destination program
[17:03] can play for some of our central
[17:04] city partners.
[17:07] But also it furthers
[17:10] implementation of the climate
[17:11] investment plan, the climate
[17:13] investment plan was developed
[17:14] through a nine-month
[17:16] community-driven process.
[17:18] It involved significant input
[17:19] from residents, business,
[17:21] technical experts, community
[17:22] partners, et cetera, and it is
[17:25] the plan that informs how pcef
[17:28] invests a certain portion of the
[17:31] pcef resources into community.
[17:32] Next slide, please.
[17:36] So just a little bit of
[17:38] background and to try to weave
[17:40] together all the plates of the
[17:42] braid, you may recall at about a
[17:44] year ago the board approved an
[17:47] intergovernmental agreement
[17:48] between pcef and prosper
[17:50] portland that allocated certain
[17:52] funds from what are called
[17:54] strategic programs within that
[17:55] climate investment plan.
[17:58] The four key areas that are in
[18:00] intergovernmental agreement with
[18:02] pcef touches upon are outlined
[18:03] here in yellow.
[18:06] These include everything from
[18:08] support on workforce training
[18:11] via community response grants to
[18:12] launching a new clean energy
[18:15] grant for small, commercial
[18:16] buildings and property owners in
[18:18] buildings under 40,000 square
[18:21] feet.
[18:21] And a specific allocation of a
[18:22] portion of those grant dollars
[18:24] to 82nd avenue.
[18:26] And we are here before you today
[18:28] to focus on the implementation
[18:30] and administration of strategic
[18:32] program 14.
[18:33] You see it all the way on the
[18:35] right.
[18:35] This will provide increased
[18:37] access to capital in two key
[18:38] areas.
[18:39] One for an early pilot and
[18:42] learning phase around russeside
[18:50] conversion programs and another
[18:51] around the anchor destination
[18:55] program.
[18:55] Next slide.
[18:56] Now we wanted to dive into more
[18:57] detail and we've separated your
[18:58] two actions into two chapters of
[19:00] the presentation.
[19:01] So first, wanted to provide a
[19:02] bit of context regarding the
[19:04] pilot conversion program.
[19:05] What you see here is a timeline
[19:08] of a number of interdependent
[19:10] initiatives that we've been at
[19:11] together with pcef and other
[19:15] partners.
[19:16] This does include pcef's work on
[19:20] the approval and implementation
[19:20] on the climate investment plan.
[19:22] It also includes work that we
[19:24] have had underway with the
[19:26] department of environmental
[19:27] quality at the state level.
[19:29] We've actually had a multiyear
[19:32] partnership with them as they
[19:33] started to consider how some
[19:34] resources they applied for and
[19:35] were successful in receiving
[19:36] from the federal government
[19:40] could contribute both to broader
[19:41] pollution reduction, but con --
[19:43] but also conversions as a
[19:46] portion of that pollution
[19:49] reduction grant.
[19:50] And there are resources that
[19:51] will also eventually come before
[19:53] the board and executive director
[19:56] wesley for allocation.
[19:57] Because we are negotiating a
[20:00] contract with daq for
[20:01] administration of those funds.
[20:03] Prosper also a couple of years
[20:05] ago worked with the mayor's
[20:07] office as well as echo
[20:13] northwest, agagensler an
[20:15] architectural firm to understand
[20:16] what was happening on the
[20:17] national side and best
[20:18] practices.
[20:19] What were the regulatory or
[20:20] financial products that other
[20:22] cities were offering.
[20:23] And how should we think about
[20:24] those in portland.
[20:25] We actually took a look at some
[20:30] case studies, analyzed the
[20:32] feasibility of conversions to
[20:33] understand what kinds of
[20:34] buildings could make good
[20:35] candidates and what kind of
[20:36] regulatory or financial tools
[20:37] would be needed to support those
[20:39] projects.
[20:39] And the guidelines that kay's
[20:41] going to walk you through
[20:42] shortly are an important next
[20:43] step in kind of taking the next
[20:46] step in implementing some of the
[20:48] recommendations of that report.
[20:50] Next slide, please.
[20:52] So we also thought it was
[20:53] important to kind of highlight
[20:55] some of the work that we've been
[20:57] doing with pcef.
[20:59] This particular visual is
[21:00] actually from the rocky mountain
[21:02] institute.
[21:03] It shows that office to
[21:04] residential conversions can
[21:05] actually significantly lower
[21:07] embodied carbon by reusing
[21:10] existing buildings, structures,
[21:12] materials, et cetera, instead of
[21:14] new construction.
[21:14] And what you see here is kind of
[21:18] in the lifecycle of a building
[21:20] from construction through to
[21:22] operations through to kind of
[21:24] eventual demolition if a
[21:26] building is no longer useable,
[21:28] the 40% of carbon emissions are
[21:30] actually generated during the
[21:33] construction phase.
[21:34] And then the secondary or
[21:36] tertiary benefit which is
[21:37] certainly important has also
[21:38] been important to the way we've
[21:40] negotiated the guidelines with
[21:43] pcef is that conversions also
[21:45] generate additional housing
[21:46] units, as well as addressing the
[21:48] urban challenges that vacant
[21:49] office spaces are creating.
[21:51] In addition, because you'll see
[21:53] this as kay walks you through
[21:54] the program guidelines for
[21:56] conversions, it's important to
[21:57] take the opportunity to make
[21:58] energy efficiency upgrades
[22:01] during the conversion process to
[22:02] more fully realize and embodied
[22:05] carbon savings and ensure
[22:07] overall environmental impact.
[22:08] You'll see that in terms of the
[22:10] guidelines also being tied to
[22:11] folks when they're converting a
[22:13] commercial asset into
[22:15] residential, installing higher
[22:17] energy efficiency hvac systems,
[22:18] et cetera.
[22:19] With that, I'm going to hand it
[22:20] over to kay to walk through the
[22:22] specific guidelines.
[22:25] >> little: thanks, lisa.
[22:25] Good afternoon, chair cruz,
[22:28] commissioners, and executive
[22:30] director wesley.
[22:32] I'm happy to discuss the pilot
[22:34] program guidelines with you.
[22:35] As lisa mentioned, one of the
[22:37] big goals of this pilot is for
[22:39] us to really -- and for the city
[22:42] to get a better understanding of
[22:44] how to value that embodied
[22:47] carbon that is contained in
[22:49] existing buildings.
[22:51] And then how repurposing that
[22:52] does contribute to the city's
[22:54] climate action goals.
[22:55] And also we can get a better
[22:56] understanding of what those
[22:57] technical challenges are.
[22:59] And so that is one of the things
[23:00] that we're trying to accomplish
[23:01] here in addition to being able
[23:03] to revitalize, you know,
[23:06] downtown by the reuse of some of
[23:08] those office buildings.
[23:09] And so the pilot program
[23:11] guidelines were put into place
[23:13] to help to reach those goals.
[23:14] And so the program is really
[23:17] targeted for projects of 20
[23:19] units or more.
[23:19] So of course it requires
[23:21] inclusionary housing to be a
[23:22] component of that.
[23:23] And the funding is broken down
[23:26] into two tranches.
[23:28] And so the initial is $60,000
[23:32] per unit just for the office
[23:34] residential conversion piece.
[23:36] That's of course the piece that
[23:38] then captures that embodied
[23:40] carbon savings that we're trying
[23:42] to realize.
[23:43] But then there's an additional
[23:45] $25,000 per unit of the -- that
[23:52] the project can receive.
[23:52] And that's based on it meeting
[23:54] some of those energy efficiency
[23:55] measures that are focused on
[23:56] things like the hvac systems and
[24:00] other efficiency systems there
[24:01] that can actually contribute to
[24:02] some of that operational carbon
[24:05] savings that will be analyzed
[24:07] throughout this pilot program.
[24:09] One of the things that a couple
[24:13] requirements that the bar is
[24:14] having -- will have to comply
[24:16] with.
[24:16] One is that the rents will be
[24:19] maintained at 60 to 120% ami
[24:22] over a period of ten years.
[24:25] The bar can receive conditional
[24:27] loan for giveness over that
[24:30] ten-year period if they maintain
[24:32] rents at that level.
[24:33] And that's something that they
[24:36] will annually have to report on,
[24:38] we'll have an opportunity to
[24:40] look at their rent rolls, et
[24:41] cetera, to verify that that's
[24:44] happening.
[24:44] But really the big thing that we
[24:46] want to get from them in
[24:47] addition to this is that we
[24:49] really want to have information
[24:51] about the conversion project
[24:53] itself.
[24:53] We really want to have access to
[24:55] that project data.
[24:56] You know, what were the costs,
[24:58] what was the equipment that was
[25:00] installed, the specifications of
[25:03] that, who were the business --
[25:04] the building vendors that you
[25:06] worked with.
[25:07] And they'll also be required to
[25:09] participate in embodied carbon
[25:11] study.
[25:12] All of this information is now
[25:14] what will be used to help us to
[25:16] really evaluate the
[25:17] effectiveness of this tool and
[25:20] so that we can actually measure,
[25:22] then, what those savings were
[25:24] both from the embodied carbon
[25:25] perspective and also from the
[25:28] operational carbon savings.
[25:29] And so really excited to see
[25:31] kind of the results of that.
[25:34] Next slide, please.
[25:42] Now we'll talk about the anchor
[25:44] destination program.
[25:45] Lisa, do you want me just to
[25:46] move forward with this piece?
[25:47] Do you want to talk a little bit
[25:51] about this?
[25:51] >> abuaf: you're doing great,
[25:53] kay.
[25:53] >> little: okay, great.
[25:56] Okay.
[25:56] So our anchor destination
[25:58] program, here this gives us an
[26:01] opportunity to provide some pcef
[26:05] funding for some of those
[26:06] projects that are much larger
[26:07] than would qualify for b grant
[26:10] program.
[26:10] The b grant program kind of
[26:12] limits the recipients of pcef
[26:15] funding to buildings that are
[26:17] less than 40,000 square feet.
[26:19] And so then buildings that are
[26:21] above that really don't have
[26:22] much of an opportunity to take
[26:23] advantage of that program.
[26:25] The anchor destination program
[26:28] is really targeted specifically
[26:29] toward what we call anchor
[26:32] destinations.
[26:33] And so it would be those
[26:35] destinations in the city of
[26:36] portland that really do help to
[26:41] drive traffic to surrounding
[26:42] consumer businesses.
[26:44] We're looking at those at annual
[26:46] foot traffic half a million or
[26:48] more.
[26:48] Which is something that we will
[26:50] really evaluate from our side.
[26:51] But we want to see that they are
[26:53] actually having a positive
[26:54] impact on those businesses
[26:57] around the area and that it's
[26:59] not a franchise or a subsidiary
[27:01] of a national firm.
[27:02] Next slide, please.
[27:06] So as we're thinking about these
[27:07] types of projects, one that
[27:09] comes to mind is the james baird
[27:11] public market, for example, and
[27:13] just where it's located and some
[27:15] of the benefits that it will
[27:17] bring to the area with that foot
[27:19] traffic.
[27:20] And they're actually hoping to,
[27:21] perhaps, receive some of this
[27:25] funding so they can then build
[27:28] out some of the efficiency
[27:28] measures within their own
[27:29] building and also perhaps
[27:30] allocate some of that to the
[27:31] vendors that will be in the
[27:34] building.
[27:34] This loan is structured as a
[27:38] five-year forgivable loan in
[27:39] order to get forgiveness, they
[27:40] have to continue to operate in
[27:42] that location and has to
[27:43] continue to be a locally-owned
[27:45] business.
[27:45] And it will have an interest
[27:47] rate that is market driven, very
[27:50] similar to what we do on our
[27:53] other loans.
[27:54] This one will have a maximum
[27:54] loan amount of 2.5 million.
[27:58] And the borrowing entity will be
[27:59] required to contribute 25% of
[28:02] that eligible cost from another
[28:04] source other than our anchor
[28:06] destination funding.
[28:06] And then they also must enroll
[28:08] in the portland needs progress
[28:12] and provide annual reporting on
[28:14] their participation in that
[28:15] program.
[28:16] And so we're also very excited
[28:18] about this program, and how it
[28:20] can really benefit those
[28:22] businesses that though drive
[28:25] tourism in our downtown area.
[28:28] So that's an overview of the
[28:30] guidelines.
[28:30] Next slide, please.
[28:31] Are there any questions?
[28:36] >> cruz: any questions from the
[28:41] commissioners?
[28:42] Comments?
[28:42] >> this is felisa.
[28:43] I wanted to just follow up and
[28:46] make sure that we will get a
[28:49] report back on sort of what are
[28:50] the projects and things that
[28:52] have happened as part of this.
[28:58] >> little: yes, we will report
[28:59] back to the board to let you
[29:00] know.
[29:00] We have the two buildings right
[29:03] now within the pilot and we will
[29:06] report back on the outcomes on
[29:11] those projects.
[29:12] >> I was also wondering how are
[29:13] we thinking strategically about
[29:14] the office to residential
[29:16] conversions and the location of
[29:18] those projects and some of the
[29:19] other priorities we have in the
[29:21] city in terms of activation of
[29:25] neighborhoods or acute locations
[29:26] that we think are critical?
[29:31] '.
[29:31] >> abuaf: that's a great
[29:31] question, commissioner.
[29:33] I'm going to see if sam's also
[29:34] available just so you hear the
[29:35] perspective from pcef.
[29:37] We're really thinking about this
[29:39] as a pilot moment and we're
[29:41] going to learn from it.
[29:42] Kay shared a little bit about
[29:44] this.
[29:45] We're really asking these
[29:46] particular projects to dive deep
[29:47] with us in data analysis and
[29:48] help inform and right size the
[29:52] per unit calculation relative to
[29:54] the ghg benefits.
[29:56] I would say we are in very early
[30:00] conversations of should there be
[30:02] additional funds available under
[30:03] this strategic program to come
[30:05] over to prosper, they we would
[30:09] want to release those fairly
[30:11] competitively and then have
[30:12] criteria.
[30:12] Whether that's kind of based on
[30:14] a corridor that conversion
[30:16] project is on or it's readiness
[30:19] to really convert and/or
[30:21] leverage dollars.
[30:22] I think it's important, but
[30:23] we've just started those
[30:24] conversations, and I would say
[30:26] right now we're in the learning
[30:27] mode before we jump full in to
[30:29] scaling the program.
[30:31] I don't know, sam, if there's
[30:32] anything else.
[30:33] Just trying to reflect on our
[30:39] conversations.
[30:39] >> sam: the nature that we're
[30:41] talking the pilot initially,
[30:44] it's the products that give us
[30:45] those opportunities to give the
[30:47] emission reductions and
[30:48] understand those community
[30:50] benefits.
[30:51] Absolutely I would say our
[30:51] interests as we move forward and
[30:52] learn from the pilot is figuring
[30:53] out if there are geographic
[30:56] boundaries or prioritization to
[30:59] certainly motivate -- motivate
[31:01] activities in certain
[31:01] neighborhoods, locations, that's
[31:02] something I'd love to
[31:03] certainly -- I'd love for that
[31:05] to be part of the conversation.
[31:06] But in this moment we know that
[31:08] part of it is just getting
[31:10] actors to come to the table so
[31:11] we can learn.
[31:13] >> if I can get on a soapbox for
[31:16] a second, and chair cruz, and
[31:17] kind of give some comments on
[31:18] it.
[31:18] I have a lot of opinions about
[31:22] office to residential conversion
[31:24] specifically in portland.
[31:27] I know that we've all been
[31:27] reading for years about office
[31:29] to residential conversions
[31:30] happening in other cities across
[31:32] the u.s., especially as we've
[31:34] seen a demise in the office
[31:36] demand.
[31:36] And I think it's a really
[31:38] amazing way to reuse and
[31:39] repurpose buildings that could
[31:41] be newer or older or have
[31:43] historical or community
[31:45] significance like has been
[31:46] happening -- I loved in one in
[31:48] new york city about 15 years ago
[31:50] when I first got there after
[31:51] graduate school.
[31:51] So it's been happening for a
[31:53] while.
[31:53] And I think that a really
[31:56] exciting thing, as all of you I
[31:58] think here know, it's a really
[32:00] expensive way to produce
[32:02] housing, especially in a seismic
[32:05] zone.
[32:05] And we and our other western
[32:07] states are in a seismic zone.
[32:10] And recently portland made the
[32:12] decision not to adopt some of
[32:15] the coade changes that our
[32:16] neighbors in washington and
[32:17] california have adopted to try
[32:19] to make office to residential
[32:22] conversions more feasible
[32:23] financially and also just from
[32:24] an administrative and logistics
[32:28] standpoint in favor of
[32:29] maintaining more stringent code
[32:32] requirements.
[32:34] So for me, there is a
[32:35] misalignment of what we're
[32:37] trying to do in portland with
[32:37] this effort.
[32:38] On the one hand, here we are
[32:40] trying to push pilot and
[32:42] learning for office residential
[32:43] conversion to try to enable it
[32:44] to happen in our city.
[32:46] While our code partners at the
[32:48] city are not helping us be
[32:50] innovative and progressive in
[32:51] ways that are being adopted in
[32:53] other cities.
[32:54] So this is one thing that I find
[32:56] to be a rub.
[32:58] The second thing, and it's come
[32:59] up with other topics related to
[33:02] tif and other things.
[33:03] I would love for us to not think
[33:05] about this as simply a climate
[33:08] change initiative.
[33:10] But to think about the
[33:11] multilayering impact that our
[33:13] subsidies for this project can
[33:14] actually offer to our
[33:16] communities by making sure that
[33:18] we choose buildings and
[33:19] locations that really need
[33:25] activation.
[33:25] Where a specific block or
[33:27] neighborhood has strategic
[33:28] importance for activation, and
[33:29] also in addition to that,
[33:32] obviously, activating a vacant
[33:34] commercial building and the
[33:35] embodied carbon benefits.
[33:36] So I think this is all
[33:39] especially important as we think
[33:40] about the fiscal issues that our
[33:41] city is facing financially with
[33:43] decreased revenue, like we need
[33:47] to be more incisive with how we
[33:49] spend our money.
[33:50] And I want to make sure that's
[33:53] being considered as we think
[33:53] about this loan program.
[33:58] >> cruz: thank you.
[34:00] Any -- any response from anyone
[34:03] on that or further comments?
[34:07] .
[34:07] >> sam: if you don't mind me
[34:11] just responding, chair cruz.
[34:13] Sam baraso here clean energy
[34:17] fund.
[34:17] I think there's a wholehearted
[34:20] agreement on the complexities of
[34:20] this and the fact that without a
[34:22] doubt there's a significant --
[34:24] this is in no small part a
[34:28] significant sub-saharan effort
[34:29] to make those projects happen.
[34:30] I think there's a strong
[34:31] interest on our side to not --
[34:33] obviously I speak to the climate
[34:36] benefits because that's where I
[34:37] think most the learnings will be
[34:39] from a technical perspective
[34:40] what's going to happen.
[34:41] But without a doubt those
[34:42] community benefits, yes, there's
[34:45] the jobs created and the work
[34:46] that happens in the projects.
[34:47] But I think there's a lot of
[34:50] eagerness on our side to
[34:51] understand that as well, and
[34:53] drive more of those.
[34:55] >> cruz: thank you.
[34:56] Is there any -- is there any,
[34:59] you know, encouragement or
[35:01] coordination coming from our
[35:02] side toward planning or anybody
[35:04] else with respect to the code
[35:09] change issues that commissioner
[35:10] slick mentioned?
[35:10] Are we engaging on that at all
[35:12] or just kind of sticking to our
[35:14] own program?
[35:22] >> abuaf: that's a great
[35:24] question.
[35:25] If you look at the report that
[35:26] got issued, it took a look at
[35:28] the regulations that was
[35:30] mentioned.
[35:31] We did open it up with the mayor
[35:33] and council at that time and
[35:35] there was not an interest in
[35:36] pursuing those further.
[35:37] Now we have a new mayor and
[35:39] council and it's something we
[35:41] can reopen.
[35:41] I would say to sam it's
[35:43] something we can do with our
[35:44] partnership with the planning
[35:46] and sustainability.
[35:47] It's mostly building code than
[35:48] it is land use code, but I do
[35:50] think it's something we could
[35:51] open up also with cornell and --
[35:53] sorry, executive director wesley
[35:57] and our deputy city
[36:02] administrator's certainly
[36:03] another place to start.
[36:04] >> cruz: great.
[36:04] I don't know how the rest of the
[36:06] board feels about it, but I
[36:07] think I would encourage that.
[36:09] would be great.
[36:11] >> I agree.
[36:12] I feel like the more alignment
[36:15] that we're driving at the city
[36:16] and the restructuring of the
[36:16] city was meant to create that
[36:18] alignment.
[36:18] I think is really important.
[36:20] So it's one of the reasons why I
[36:24] actually really am loving
[36:26] this -- sort of this funding
[36:26] braiding and sort of
[36:28] streamlining these requests and
[36:28] how they come through this
[36:31] process.
[36:32] Because it is exactly, I feel
[36:34] like what our city should be
[36:37] doing.
[36:38] And so hopefully we can get the
[36:40] other bureaus on board.
[36:44] >> cruz: great.
[36:47] Any further comments?
[36:47] Questions?
[36:51] Okay then.
[36:51] Well, we actually have two
[36:54] resolutions with this, you know,
[36:56] covering both of the program
[37:00] guidelines.
[37:00] So would someone give me just
[37:01] one moment to find where I'm at.
[37:04] Would someone like to make a
[37:06] motion to approve resolution
[37:15] number 7627?
[37:18] Please.
[37:18] >> so moved.
[37:19] >> cruz: great, thank you.
[37:20] Do I have a second?
[37:23] >> second.
[37:23] >> cruz: okay.
[37:23] All those in favor -- or any
[37:25] further discussion in if not,
[37:26] then all those in favor of
[37:30] approving resolution 7627.
[37:35] Aye.
[37:35] [chorus of ayes]
[37:35] >> cruz: great, okay.
[37:38] I think everybody voted
[37:42] affirmatively.
[37:42] Maybe commissioner slick, did
[37:44] you vote?
[37:46] >> slick: I'm sorry, gustavo,
[37:47] which one -- is that for the
[37:50] helping conversion?
[37:52] >> cruz: yes.
[37:53] >> slick: I'm going to abstain
[37:54] on that one.
[37:54] >> cruz: so four out of five
[37:56] with one abstention.
[37:58] Okay.
[37:58] And then resolution number 7628,
[38:01] would someone like to make a
[38:02] motion on that one?
[38:07] >> I so move.
[38:09] >> cruz: thank you.
[38:10] A second?
[38:11] >> second.
[38:12] >> cruz: thank you.
[38:13] All right.
[38:14] All those in favor of approving
[38:15] resolution number 7628.
[38:19] [chorus of ayes]
[38:20] >> cruz: great.
[38:21] Okay.
[38:21] Unanimous on that one.
[38:23] All right.
[38:24] Well thanks very much.
[38:27] Any other comments?
[38:31] Okay.
[38:31] There being no further items on
[38:33] the agenda, the prosper portland
[38:34] board of commissioners meeting
[38:35] for this month is now adjourned.
[38:39] So thanks very much, everybody.
[38:40] Have a great day.
[38:41] See you soon.
[38:44] [meeting adjourned]