PropertyFit offers qualifying commercial, industrial, and multi-family property owners affordable, long-term financing for energy efficient and renewable energy related building improvements. For the first time, building owners have a financial tool to undertake comprehensive energy improvement projects that holistically address a building’s performance needs. Improvements that up until now have been cost prohibitive.
Financing is secured with a benefit assessment lien on the property that is akin to a limited improvement district assessment often used by local governments to finance sewer and road improvements. As such the financing is attached to the property, not the owner, allowing for the unpaid balance of the assessment to be transferred with the building upon sale.
Prosper Portland administers the PropertyFit program for Multnomah County. The program is currently available to properties within Portland’s urban renewal areas and will soon be available county-wide. In addition, the program is committed to the growth of the Portland region’s minority contractor community. As such, prime contractors performing work for PropertyFit projects must hold the federal Disadvantaged Business Enterprise (DBE) or the state Minority Women Small Business Enterprise (MWEB).