While primarily a loan program, grants are available for projects that will create or retain traded-sector jobs
Financing for municipally-owned facilities
The Special Public Works Fund program provides funding for municipally-owned facilities that support economic and community development in Oregon. Established by the Legislature in 1985, the fund has grown into a revolving loan fund currently valued at about $160,000,000. Loans and grants are available to municipalities for planning, designing, purchasing, improving and constructing municipally-owned facilities.
Municipally-owned facilities
Examples of the many types of eligible municipally-owned facilities include:
Airport facilities
Buildings and associated equipment
Mitigation of environmental conditions on industrial lands
Port facilities, wharves and docks
Purchase of land, rights of way and easements necessary for a public facility
Telecommunications facilities
Railroads
Roadways, bridges, etc
Solid waste disposal sites
Storm drainage systems
Wastewater systems
Water systems
Eligible applicants
The Special Public Works Fund is open to the following municipalities:
Cities
Counties
County service districts (organized under ORS Chapter 451)
Tribal Councils of Indian tribes
Ports
Districts as defined in ORS 198.010
Airport districts (ORS 838)
Funding for design and construction
While primarily a loan program, grants are available for projects that will create or retain traded-sector jobs. A traded-sector industry sells its goods or services into nationally or internationally competitive markets.
Low interest loans
Loans range in size from less than $100,000 to $15 million. The department is able to offer very attractive interest rates that reflect tax-exempt, market rates for very good quality creditors. Loan terms can be up to 25 years or the useful life of the project whichever is less.
Grants
Grants are limited to $500,000 or 85 percent of the project cost, whichever is less. The grant amount per project is based on up to $5,000 per eligible job created or retained.
Funding for planning
Loans are available for the purpose of early-stage planning work needed for the development of a potential project. Grants are available for planning work required for industrial lands development.
Loans
Loan awards are calculated based on $200 per acre up to $20,000 per site. Loans can be amortized over seven years.
Grants
Grant awards are calculated at $200 per acre up to a maximum of $40,000 per site or 85 percent of the total project cost, whichever is less.
