Success Story
Neil Kelly Company, Portland, OR
$290,000 from PropertyFit Oregon financing program and $11,000 in cash incentives from Energy Trust of Oregon
Plans to upgrade its design center inspired Neil Kelly Company to pursue a comprehensive renovation that includes energy efficiency, solar and seismic upgrades to improve building safety and performance. Tapping into Energy Trust of Oregon’s technical services and incentives and PropertyFit Oregon’s clean energy financing program made these upgrades possible.
Plans to upgrade its design center inspired Neil Kelly Company to pursue a comprehensive renovation that includes energy efficiency, solar and seismic upgrades to improve building safety and performance. Tapping into Energy Trust of Oregon’s technical services and incentives and PropertyFit Oregon’s clean energy financing program made these upgrades possible.
Neil Kelly’s building has expanded over time through additions and remodels, but the original structure, dating back to the 1920s, had been left nearly untouched. The company’s initial need for a new presentation kitchen snowballed into a bigger project that solved other building issues. “Once we really looked at all the opportunities for efficiency improvements, it made sense to pursue a bigger vision,” said Tom Kelly, president, Neil Kelly Company. “We’ve been wanting to do solar here for years, and the building was in need of a seismic upgrade.”
Energy Trust’s Existing Buildings and Solar programs delivered technical services—including a solar feasibility analysis, and lighting and HVAC studies—to jumpstart the energy saving and generation analyses required for PropertyFit Oregon’s Commercial Property Assessed Clean Energy (CPACE)* financing program and identify cash incentives to further offset costs for multiple scopes. To complete much of the construction work, Neil Kelly has engaged Verde Builds, a licensed general contractor that offers job opportunities and training for minorities and low-income people. Verde Builds will manage the EV installation, lighting upgrades and seismic retrofit work.
In financing the $290,000 price tag, Kelly turned to CPACE financing through the PropertyFit Oregon financing program as an alternative to a traditional bank loan. It is among the first existing commercial building retrofit projects to obtain CPACE financing for an existing building upgrade through the PropertyFit Oregon financing program. The renewable energy portion is also eligible for federal solar tax credits. Plus, the electric vehicle chargers are funded through a Pacific Power Blue Sky grant.