Which Properties are Eligible?
All types of commercial, industrial and multifamily (5+ units) buildings are eligible for PropertyFit, including:
What Measures are Eligible?
Eligible improvements must be permanently affixed to the property and meet at least one of the following requirements:
- Lower the property’s energy consumption;
- Generate renewable energy;
- Enable on-site storage of renewable energy;
- Create or improve the property’s capacity to charge electric vehicles;
- Lower the property’s water consumption; or
- Improve the seismic resiliency of the building.
A few examples include:
See the Technical Standards section of the PropertyFit Program Guide to learn more about the specific technical requirements of the program.
Where is PropertyFit Available?
PropertyFit is available throughout Multnomah County.
Are There Limits on What Can be Financed?
The total PropertyFit financing cannot exceed 30 percent of the value of the property and can be used to pay:
- The cost of building performance audits;
- The cost of building resiliency improvements to the property;
- The cost of other improvements that are directly related to the installation of building resiliency improvements (e.g. roof upgrades to support a roof-mounted solar PV installation);
- Commissioning costs; and
- Fees, reserves and other PropertyFit program costs.
What Is the Maximum Financing Term?
The maximum term of the PropertyFit financing is based upon the weighted average useful life of the improvements being installed. These estimates will be included in the building performance audit of the building.
What Is the Process?
PropertyFit follows a traditional loan process with a few additions that evaluate the scope and impact of the building resiliency improvements. In general, projects will progress through the following steps:
Why Use PropertyFit?
PropertyFit removes many of the financial barriers that often stall building resiliency projects. Let’s see how it compares to traditional bank financing.