A Tale of Two Cities: Portland's Feebate
Continuing our posts from GreenBuild, our next two posts will discuss two very different green building regulatory enforcement mechanisms from two very different cities. The first city, Portland, has created a very innovative enforcement mechanism to enforce its stringent green building regulations.
Portland is very similar to other cities in that they will require specific project to achieve varying LEED certification levels. Portland's enforcement mechanism, however, is much different. Called a "Feebate," Portland will require that some projects pay into a green building fund while other projects obtain rebates from the city.
Under the Feebate system, all new buildings built to code are assessed a fee. If a project is built to LEED Silver, then the fee is waived and the owner obtains access to financing options. Even better, if a project attains LEED Gold, the city writes the project owner a check!
All money that is paid into the green building fund is used either for the incentives or to educate about green building.
Pretty neat, don't you think? After the Holidays, Portland is coming out with its economic analysis of the plan, and I am looking forward to reviewing it with you.
I knew I loved Portland for a reason. What a neat concept!
Great idea! In time, I'm sure Portland will realize great benefits from this innovative approach (perhaps financial, certainly environmental).
Seems like a very innovative idea. A similar mechanism has been used elsewhere in Environmental law to reduce pollution and has been met with great success.
Thanks for the comments everyone!
Aga - I haven't been to Portland, but I need to check it out! Isn't this a great idea? I hope it works.
Tom - The Feebate system is a great concept for maintaining a financially viable green building regulation. We will probably see other cities implement a similar green building policy.
Rich - I would be interested to hear about similar mechanisms used in environmental law. Please tell me more.
Chris
Chris - do you have any updates on the success of the Portland Feebate program?
Nils