Expansion Details & Financial Viability
Anticipating significant economic benefits from efficient, predictable pricing for heating and cooling services in the downtown core, the City acquired the Beaverton Central Plant (BCP) in 2005. More recently, the City has undertaken a $1 million expansion plan to meet the increased building needs of The Round (when the development is finished, it will consist of 700,000 square feet of office, retail, and residential uses) and to develop additional capability to serve adjacent sites.
The City's Capital Investment
Capital for this expansion is being provided by the Oregon Department of Energy
under the state’s Small Energy Loan Program, which supports the design and use of energy saving equipment and systems.
The City’s purchase of BCP was timed to support The Round developer’s restructuring of the project and to bring much needed capital to complete the build out of the plant. The City was able to limit its up front investment and to put long-term contracts in place to maintain BCP viability. The City expects that the successful operation of the plant will promote conservation of natural resources, support smart growth and sustainable design within the City core, and provide real and lasting economic benefit to all those who live and work in our downtown.
The Economic Benefits
Benefits of the Beaverton Central Plant include:
- Accelerated downtown growth by lowering system development costs
- Greater federal, state, and utility incentive dollars for Beaverton development
- Keeps heating and cooling energy dollars local for use by the City of Beaverton
- Long-term operating efficiency and greater economic benefits are assured by expanding BCP’s service area
- Services priced to protect customers from volatile energy prices