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BPS explains climate fund structure as council presses on $100 million reserve idea
Summary
Bureau of Planning and Sustainability staff described the multi-year Climate Investment Plan (CIP) and the Portland Clean Energy Fund's (PSEF) five-year commitments. Councilors pressed bureau staff on the size of PSEF reserves and how contingency planning will be used to protect multi-year commitments.
Bureau of Planning and Sustainability Director Eric Kingstrom briefed councilors on the bureau's FY25-26 budget and on the citywide Portland Clean Energy Fund (PSEF) allocations under the Climate Investment Plan (CIP).
Kingstrom said the PSEF budget is structured as a multi-year plan with two broad buckets: ongoing administrative costs and program spending directed by the CIP. "The main point here is that, the fund balance is fairly large still because for the first several years, we were in startup mode," he said, adding the CIP runs through 2029.
Council debate…
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