From: "Baraso, Sam" <Sam.Baraso@portlandoregon.gov>

Sent: Fri, 15 Dec 2023 16:03:24 -0800

To: "Baraso, Sam" <Sam.Baraso@portlandoregon.gov>

Cc: "Gilmore, Rachel" <Rachel.Gilmore@portlandoregon.gov>, "Lister, Cady" <Cady.Lister@portlandoregon.gov>, "Valdez, Jaimes" <Jaimes.Valdez@portlandoregon.gov>, "Stover, Elizabeth" <Elizabeth.Stover@portlandoregon.gov>, "Reed, Magan" <Magan.Reed@portlandoregon.gov>, Ciara Pressler <cp@pregamehq.com>, Tracy Smith <tracy@inhance.biz>, camerina.galvan.arias <camerina.galvan.arias@gmail.com>

Subject: Additional PCEF Funds - forecasting and proposed projects

Attachments: FY 2024-25 Clean Energy Surcharge Forecast December 2023 .pdf; Bureau Projects_PCEF.xlsx;

Hi PCEF Committee,

As you all saw Wednesday, due to an unfortunate leak, our timeline to share the news about PCEF’s additional funds was dramatically truncated. I am sincerely sorry that we did not get to prepare you all well in advance for that. While the reception to the news has generally been positive, we have been answering media questions and expect to answer additional follow up questions in the weeks ahead.

My current understanding if that this proposal needs to come to you all in January given the timing of the City’s budget cycle. Some of you have asked for more opportunities to understand the proposals, so I’ll follow up next week with some next steps (small group meetings, 1:1 meeting opportunities, etc.).

Attached to this email, you’ll find the following documents related to this week’s announcement:

  1. FY 2024-25 Clean Energy Surcharge Forecast
    1. This is a memo from our City Economist that speaks to the fund forecast.
  3. Bureau Projects_PCEF
    1. This is a spreadsheet that reflects the PCEF-aligned City Bureau projects proposed for your consideration next month. Note that it does not include the second set of projects in Commissioner Rubio’s announcements as those were future-oriented projects that still need further detailing:

i. $100 million for production of green affordable housing

ii. $100 million for the protection and maintenance of 240,000 right-of-way street trees (on-going)

iii. $28 million for a climate-resilient future Keller Auditorium

iv. $20 million for climate-friendly infrastructure for the Fire Bureau

v. $10 million for future projects from the Clean Industry Initiative

Lastly, below is some of the recent media in response to this week’s news.

  1. https://bikeportland.org/2023/12/14/rubio-plan-includes-112-million-lifeline-for-pbot-and-major-boost-to-bicycling-382480
  2. https://www.opb.org/article/2023/12/13/portland-city-commissioner-proposes-540m-of-climate-action-funds-toward-city-bureaus/
  3. https://www.oregonlive.com/politics/2023/12/portlands-clean-energy-fund-expected-to-raise-additional-540m-over-next-5-years.html
  4. https://www.wweek.com/news/city/2023/12/13/rubio-seeks-to-funnel-540-million-in-clean-energy-tax-revenues-into-city-bureaus/
  5. https://www.portland.gov/rubio/news/2023/12/13/rubio-proposes-additional-climate-investments-clean-energy-funds
  6. https://www.kptv.com/2023/12/14/commissioner-rubio-proposes-540m-plan-portland-clean-energy-fund/
  7. https://katu.com/news/local/portland-city-commissioner-plans-new-climate-ventures-with-surprise-540m-in-funds
  8. https://www.bizjournals.com/portland/news/2023/12/13/rubio-540-million-portland-pcef-spending-plan.html

Earlier articles that led the announcement:

-Sam

--

Sam Baraso, he/him/his

Program Manager, Portland Clean Energy Fund

City of Portland | Bureau of Planning & Sustainability

1810 SW 5th Ave., Suite 710 | Portland, OR 97201

C: 503-307-2399 | W: Portland.gov/bps

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