Portland could backfill budget gaps with funds voters designated for climate response

Portland Clean Energy Fund was created by a voter-approved ballot measure in 2018 that passed with 65% of the vote.

The goal of the fund is to create more renewable energy projects, focus on decarbonization and produce more climate action-related workforce development.

The fund has brought in far more in tax revenue than advocates expected, but that's left city bureaus facing budget cuts.

A city economist estimates that, from its inception in 2019 through 2028 , the fund could potentially generate close to $1.5 billion .

PCEF underwent a yearlong overhaul in which the city created a $750 million five-year Climate Investment Plan.

The fund's pot of money grew due to inflation and an increase in consumer spending habits.

PCEF ’s growing pot of money provides an opportunity to rethink how the city government is showing up for communities.

It also offers a chance for a partnership between city bureaus and PCEF to determine where to best utilize funds in response to climate change.

The short turnaround and lack of a months -long public process the previous set of allocations underwent could have been handled better.